9331-0688 Québec – Tax Court of Canada finds that three corporations wholly-owned by an individual could not make an ETA s. 156 election

Jorré J found that three corporations were ineligible to make the ETA s. 156(2) nil consideration election because they were not “closely related,” i.e., their mutual shareholder was an individual rather than a corporation.

Neal Armstrong. Summary of 9331-0688 Québec Inc. v. The King, 2023 CCI 173 under s. 156(1) – qualifying group.