Tim Fraser, Jim Samuel, "The Preacquisition Surplus Election: More Than Meets the Eye?", Canadian Tax Journal (2021) 69:2, 595 - 627

Summary Under
Tax Topics - Income Tax Act - Section 90 - Subsection 90(3)

Tertium quid distributions under foreign corporate law (p. 602)

  • Not all foreign affiliate distributions fit neatly into the categories of a...

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Summary Under
Tax Topics - Income Tax Regulations - Regulation 5901 - Subsection 5901(2) - Paragraph 5901(2)(b) - Subparagraph 5901(2)(b)(i)

Whether the holding of an interest in the FA by an LP with unrelated CRICs or their FAs as members precludes making the election (pp....

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Summary Under
Tax Topics - Income Tax Act - Section 93 - Subsection 93(1.1) - Paragraph 93(1.1)(b)

Automatic s. 93(1.1) dividend if s. 40(3) gain (p. 599, f.n. 13)

  • Ss. 93(1.1) and (1.11) generally provide that any s. 40(3) gain realized by a...

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Summary Under
Tax Topics - Income Tax Regulations - Regulation 5901 - Subsection 5901(2) - Paragraph 5901(2)(b)

Election can be used to bypass untaxed taxable or hybrid surplus (p. 608)

  • The election may be beneficial where a CRIC has received a dividend...

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