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., 2021 SCC 49, [2021] 3 S.C.R. 590-- summary under Subsection 245(4) Summary Under Tax Topics- Income Tax Act- Section 245- Subsection 245(4) Treaty shopping to avoid capital gains tax on Canadian resource assets was contemplated, and not a Treaty abuse A Blackstone limited partnership and a U.S. shale company transferred their investment in a Canadian subsidiary (Alta Canada), that was to develop a shale formation in northern B.C., to a Luxembourg s.à r.l. ... This did “ not depart from accepted usage such that the bargain struck in the Treaty could be upheld only if Luxembourg residents claiming benefits have ‘sufficient substantive economic connections’ to their country of residence” (para. 61). ... Canada “could also have insisted on a subject-to-tax provision” under which it would forego its right to tax capital gains only if the other state actually taxed those gains – but did not (para. 85). ...

Being liable to tax is better understood as being “liable to be liable to tax”, meaning that taxes are a possibility, regardless of whether the person actually pays any …. ... This can be contrasted with fiscally transparent vehicles like partnerships that are not exempted from taxation but, rather, are not exposed to tax at all …. [A]rt. 4(1) … expressly states that residence is to be defined by the laws of the contracting state of which the person claims to be a resident. … [T]his preference for leaving the meaning of residence to domestic law is totally consistent with the scheme of the Treaty. … It is worth noting that the words “sufficient substantive economic connections” are conspicuous by their absence in the text of both arts. 1 and 4. ...