ExxonMobil Canada Resources Company v. The King, 2026 TCC 42 -- summary under Incurring of Expense
Summary Under
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Incurring of Expensetaxpayer incurred costs as a result of a partial assignment to it of an agreement for conducting a feasibility study
The US parent of the taxpayer (“EM Corp.”), and two other oil and gas companies (“BP Alaska” and “Phillips Alaska”) entered into an...
Words and Phrases
incur| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Onus | non-suit motions should not be entertained after the close of evidence | 178 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(b) - Subparagraph 152(4)(b)(iii) | the reassessed feasibility costs of the Cdn taxpayer were incurred by it as a result of an assignment of an interest in the related project agreement to it by its NR parent | 341 |
| Tax Topics - General Concepts - Evidence | in the absence of evidence as to the effect of Alaskan law, lex fori was applied | 89 |
| Tax Topics - Income Tax Act - Section 3 - Paragraph 3(a) | the taxpayer’s costs for a pipeline feasibility study were incurred in relation to a source of income (the pipeline or use of the information generated) | 327 |
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | income-producing purpose can be secondary | 247 |
| Tax Topics - Income Tax Act - Section 247 - New - Subsection 247(2) - Paragraph 247(2)(b) | taxpayer was assigned a portion of a pipeline feasibility project as a likely Canadian participant in any pipeline, and the alternative fee-for-services model was not well established | 268 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(9) | pleading of Part XIII tax arising from the conferral of a benefit was sufficient to ground a Crown argument that the benefit arose under s. 56(2) | 314 |
| Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) | entering into a bona fide transaction with a shareholder does not entail the conferral of a benefit | 94 |
| Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) | s. 246(1) cannot satisfy the “benefit” requirement of s. 56(2) so as to engage s. 214(3)(a) | 269 |
| Tax Topics - Income Tax Act - Section 246 - Subsection 246(1) - Paragraph 246(1)(b) | s. 246(1)(b) benefit is not deemed to be a dividend | 265 |
| Tax Topics - Income Tax Act - Section 214 - Subsection 214(3) - Paragraph 214(3)(a) | s. 214(3)(a) does not deem a s. 56(2) or 246(1) benefit to be a dividend | 286 |
| Tax Topics - Income Tax Act - Section 247 - New - Subsection 247(2) - Paragraph 247(2)(a) | terms of cross-border agreement for the sharing of the costs of a pipeline feasibility study were commercially appropriate | 366 |