Coast Capital Savings Credit Union v. Canada, 2016 FCA 181 -- summary under Subsection 116(5)
rejection of apparent attempt to argue that an inflated purchase price should be bifurcated between a FMV cost and a benefit conferral
The applicant (“Coast Capital”), which was the trustee of RRSPs and RRIFs, was assessed under s. 116(5) for failure to withhold on its...
Words and Phrases
cost| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Sham | deceit of taxpayer was irrelevant to assessment – so that “sham” also was irrelevant | 282 |
| Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base | no bifurcation of inflated purchase price between FMV cost and benefit conferral | 142 |