Principal Issues: What is the characterization of a particular Luxembourg FCP for the purposes of the Income Tax Act (Act)?
Position: The FCP is a contractual arrangement that is not a person or a taxpayer nor is it a partnership for the purposes of the Act and the Canada-Luxembourg Treaty.
Reasons: The FCP is an unincorporated contractual arrangement that has no legal personality and is being established such that each investor has an undivided co-ownership interest in the underlying properties of the Sub-Funds.
Submitted by narmstrong on Thu, 12/20/2018 - 04:29
CRA treats non-resident LPs as conduits for purposes of Treaty interest withholding relief
Four non-resident LPs with the same non-resident corporate general partner (GP Co) collectively control Canco through their holdings of a common...
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Principal Issues: Whether paragraph 3(c) of Article 11 of the UK Tax Treaty applies to reduce the amount of withholding tax to XXXXXXXXXX in respect of the portion of interest paid by Canco to a XXXXXXXXXX partnership that is included in the income of UK resident limited partners of the partnership.
Position: Yes based on the stated Facts.
Reasons: Reading of paragraph 3(c) of Article 11 of the UK Tax Treaty.
an estate is a blocker for accessing the TOSI excluded share exemption
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Principal Issues: 1. Whether the TOSI rules will apply to a deemed dividend received by individuals on the redemption of their common shares in an investment holding company. 2. Whether TOSI will apply to a deemed dividend received by an estate and allocated to the beneficiaries.
Position: 1. Depends on the particular facts, but in this case probably not. 2. Depends on the particular facts.
