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Morphy, Kim Maguire, "An Update on the Taxation of Farm-outs", Resource Sector Taxation, Vol. ... Canadian Pipelines & Petroleum Limiter et al. [fn 11: (2959), 21 DLR (2d) 497 (S.C.C.) at 169-70, although we note that in the particular case, the Court found that the option was rendered void and of no effect because of a regulatory prohibition. ... If the resource property subject to the option qualifies as a Canadian resource property (and presumably it would), [fn 12: A mineral property would qualify under paragraph (b) (any right, licence or privilege to prospect, explore drill or mine for minerals) in the case of a working interest and under paragraph (g) (any real property the principal value of which depends on mineral resource content) in the case of a fee simple interest. ...

Chiu, "Half-Year Rule and Amalgamations", Resource Sector Taxation, Volume IX, No. 2, 2013, p. 638-- summary under Subsection 1100(2) Summary Under Tax Topics- Income Tax Regulations- Regulation 1100- Subsection 1100(2) A textual and contextual interpretation of the half-year rule suggests that the rule may not apply to amalgamations. ... See, also, Black & Decker Manufacturing Co. v. R., [1975] 1. S.C.R. 411 (S.C.C.).] ...

For these purposes, “Canadian resource property” is defined in section 370(b) of the QTA [by reference to] … a mineral resource in Canada …. ... On a literal reading of the relevant dispositions of the Q TA, these shares would constitute TQP … The result would be the same where the Canadian corporation was instead a foreign corporation. ... [Footnote 102 … document no. 07-010503 ….]. ...

Tina Korovilas, Drew Morier, "Non-Corporate Vehicles in the Foreign Affiliate Context", 2018 Conference Report (Canadian Tax Foundation), 20:1 – 114-- summary under Subsection 90(1) Summary Under Tax Topics- Income Tax Act- Section 90- Subsection 90(1) Most pro rata corporate distributions are dividends (pp. 20:16-17) Cangro Resources … held that for the purposes of the Act, “dividend” was to be given its “accepted ordinary meaning” – that is, of a pro rata distribution to all shareholders, other than a formal reduction of paid-up capital or liquidating distribution. … Despite the CRA’s administrative practice, the essence of a dividend, according to the jurisprudence, is a pro rata distribution by a corporation among its shareholders that is not a reduction of capital or a liquidating distribution. ...

Gordon Zittlau, "Corporate Reorganizations Involving Taxable Canadian Property – Foreign Merger Considerations", International Tax Planning (Federated Press), Vol. XX, No. 3, 2015, p. 1407-- summary under Subsection 87(8) Summary Under Tax Topics- Income Tax Act- Section 87- Subsection 87(8) Where there is a merger of two foreign corporations whose shares are taxable Canadian property (because of an underlying Canadian real estate or resource sub), s. 87(8) may provide rollover treatment – but there still could be a share disposition giving rise to s. 116 filing and withholding requirements unless the para. ... Where a merger results in a continuation of the merged corporations, the legal principles expressed in… Black & Decker [[1975] 1. ...

Although the terms in which the court [in … R v. Christophe, 2009 ONCJ 586] describes the intent of the 10 percent rule are broad, the court essentially echoes the statement of legislative intent by finding the purpose of the rule to be the diversification of investments and loans, such that risk is not pooled in any one person. … In September 2000, OSFI sent a memo to all members of the Canadian Association of Pension Supervisory Authorities (which included the CRA) stating that OSFI would adopt an interpretation according to which the 10 percent rule needed to be satisfied at the plan level rather than at the level of the individual investment corporation. A similar ruling was given in… 2005-0126841R3 … When it comes to interpreting two statutes with overlapping subject matter, a common-law presumption exists that the statutes should be interpreted in a coherent and consistent manner. … [T]he CRA … confirmed that the 10 percent rule for the purposes of the preamble in subparagraph 149(1)(o.2)(iii) was to be applied at the plan level and not at the corporation level. [fn 76: 2013-050832117] 30% rule (pp. 29:28-29) “[T] he 30 percent rule”) is found in section 11 of the PBSA investment rules, and it provides… 11(1) Subject to subsection (2), the administrator of a plan shall not, directly or indirectly, invest the moneys of the plan in the securities of a corporation to which are attached more than 30 per cent of the votes that may be cast to elect the directors of the corporation. (2) Subsection (1) does not apply in respect of investments in securities of (a) a real estate corporation; (b) a resource corporation; or (c) an investment corporation. … [T]he 30 percent rule applies only to securities to which more than 30 percent of the voting rights to elect directors are attached …. ...

Ken Snider, "Share for Share Exchanges — Subsection 85.1(5) Revisited", International Tax (Wolters Kluwer CCH), No. 114, October 2020, p. 5-- summary under Subsection 85.1(5) Summary Under Tax Topics- Income Tax Act- Section 85.1- Subsection 85.1(5) Potential deeming of shares of non-resident to be taxable Canadian property (TCP) (p.5) Where the Exchanged Foreign Shares are taxable Canadian property ("TCP") to the vendor, the Issued Foreign Shares are deemed to be TCP at any time within 60 months after the exchange. This could arise, for example, if a non-resident is disposing of shares of a non-resident corporation whose sole asset is shares of a Canadian corporation whose principal asset is Canadian real property or a Canadian resource property. ...

Timothy Hughes, Matias Milet, Marc Richardson-Arnould, "Private Equity Funds – Selected Canadian Tax Issues", Tax Management International Journal, 2016, p.84-- summary under Paragraph 115.2(2)(b) Summary Under Tax Topics- Income Tax Act- Section 115.2- Subsection 115.2(2)- Paragraph 115.2(2)(b) Restrictions on s. 115.2 safe harbour (p. 86) The safe harbour contains a number of restrictions. For example, a share in the capital stock of a private portfolio company, or an interest in an unlisted partnership or trust, will not be a "qualified investment" for purposes of the safe harbour where more than half the value of the share or interest is derived from Canadian real estate or resource property. ...

Dean Landry, Colin Mowatt, "The Uncertainty Surrounding Uncertain Tax Treatments", Perspectives on Tax Law & Policy, Vol. 4, No. 3, September 2023, p. 13-- summary under Subsection 237.5(2) Summary Under Tax Topics- Income Tax Act- Section 237.5- Subsection 237.5(2) Background (p. 13) The key definitions in s. 237.5 are modelled on IFRIC 23, which indicates that if the company identifies an uncertain position and concludes it to be “not probable” that the tax authority or the courts will accept the position, it must “reflect” the effect of that uncertainty in its financial statements. ... US experience (p. 14) The US experience, as discussed above, has been that the US “uncertain tax position” (UTP) rules have not provided any new information to tax auditors and appear to result in an unnecessary drain on resources for taxpayers and the IRS. ...

Brian Kearl, Carl Deeprose, "Leaving Canada's New High Tax Rate Regime: Considerations, Tips and Traps", 2016 Conference Report (Canadian Tax Foundation),32:1-24-- summary under Paragraph 128.1(1)(d) Summary Under Tax Topics- Income Tax Act- Section 128.1- Subsection 128.1(1)- Paragraph 128.1(1)(d) General effect of the s. 128.1(1)(d)(iii) limitation (p. 32:13) [T]he emigrating individual may elect to expand the application of the deemed disposition provisions … to … Canadian real estate, Canadian resource property, Canadian timber resource property and certain property used to carry on a business in Canada.... This... is generally used to realize latent losses that may offset departure tax gains. … Effectively, any losses realized on the deemed disposition of this property may be claimed and offset only against departure tax gains. ...