Joint Committee, "Definition of 'Public Corporation'", 4 March 2019 Joint Committee Submission

Summary Under
Tax Topics - Income Tax Act - Section 89 - Subsection 89(1) - Public Corporation - Paragraph (a)
shares of Target are considered to be listed up until the completion of the delisting process
  • Acquisitionco, a private company, acquires all the shares of Targetco, a public corporation, and immediately amalgamated with it.
  • 2017-0723771C6...

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Words and Phrases
listed
Summary Under
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(ii)
Targetco now held 100% by Acquisitionco, and with a formal delisting imminent, is still listed, so that Amalco will be tainted under s. 87(2)(ii)
  • Even if a heretofore public corporation has made a good election under (c)(i) of the s. 89(1) definition of public corporation to cease to be a...

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