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EY, "Proposed EIFEL rules", Tax Alert 2022 No. 13, 9 March 2022-- summary under Paragraph (a) Summary Under Tax Topics- Income Tax Act- Section 18.2- Subsection 18.2(1)- Adjusted Taxable Income- B- Paragraph (a) Interest that is expressly permitted to be capitalized to resource pools is not added back (p. 4) Variable B adds back a number of amounts so as to reverse [their] impact on the taxpayer’s ATI …. ... For example, although amounts for interest capitalized to certain resource pools may be expressly denied under these rules, any such amounts that were permitted to be capitalized and deducted are not added back for these purposes. Problems may also arise with respect to the manner in which the add-backs address components of other-year losses deducted in the current year — in particular, in that they may not properly address losses attributable to CCA. ...

. … Generally, paragraph 104(4)(a.3) triggers a deemed disposition of the property held by a personal trust if a taxpayer transfers property to the trust and it is reasonable to conclude that the property was transferred in anticipation that the taxpayer would subsequently cease to reside in Canada, and then the taxpayer did subsequently cease to reside in Canada. ... This tax is limited to the "designated income" of the trust, which includes only (1) taxable capital gains from dispositions of taxable Canadian property and property connected to the cessation of Canadian residence by a transferor, the spouse of the transferor, or a beneficiary of the trust; and (2) income from real or immovable properties in Canada (other than Canadian resource properties), timber resource properties, Canadian resource properties (other than properties acquired by the trust before 1972) and businesses carried on in Canada. ... [Footnote 78- $100 "designated income" less "40% part X1I.2 tax = $60 after-tax proceeds available to distribute less 25% (or 15%) = $45 or ($51) after tax proceeds.] ...

. … [I]n British Columbia, the restriction only applies to "a record evidencing indebtedness of the person to whom shares are to be issued" (i.e., a promissory note issued by the subscriber)…. ... MNR [fn 16: …92 D.T.C. 2123…] ….. Nullification was used in the recent Federal Court of Appeal case St Arnaud v. ... Takla Star Resources Ltd., [2002] A.J. No. 422, 2002 ABCA 84, aff'g [2001] A.J. ...

. … [I]n British Columbia,, the restriction only applies to "a record evidencing indebtedness of the person to whom shares are to be issued" (i.e., a promissory note issued by the subscriber)…. ... MNR [fn 16: …92 D.T.C. 2123…] ….. Nullification was used in the recent Federal Court of Appeal case St Arnaud v. ... Takla Star Resources Ltd., [2002] A.J. No. 422, 2002 ABCA 84, aff'g [2001] A.J. ...

While interest is compensation for the use or retention by one person of a sum of money owed to another rent is compensation for the use or occupation of property, or for the right to use or occupy property, and a royalty is compensation for the use of property, usually copyrighted material or natural resources, expressed as a percentage of receipts from using the property or as an account per unit produced. [fn: 23: The term "royalty" is also undefined for Part XIII ITA. … Mobil Oil Canada Ltd. v. R., 2001 FCA 333 adopted the following meaning…: …“Compensation for the use of property, usually copyrighted material or natural resources, expressed as a percentage of receipts from using the property or as an account per unit produced….] ...

X earned only passive income, such income should count as revenue, since the definition of qualifying revenue includes cash and receivables derived from "the use by others of resources of the eligible entity" (that is, interest as payment for the use of capital). … … Mr. X and Opco are an affiliated group of eligible entities and they can jointly elect under paragraph 125.7(4)(b) to permit Opco to use the consolidated revenues of the group to determine its own revenue decline test. … Mr. ... Must consider qualifying revenue of all affiliated eligible entities (p. 4) [T]he affiliation election must take into consideration all affiliated eligible entities; an applicant cannot pick and choose which affiliated parties to consolidate with. …. ...

Steve Suarez, "Canada's 88(1)(d) Tax Cost Bump: A Guide for Foreign Purchasers", Tax Notes International, December 9, 2013, p. 935-- summary under Subparagraph 88(1)(d)(ii.1) Summary Under Tax Topics- Income Tax Act- Section 88- Subsection 88(1)- Paragraph 88(1)(d)- Subparagraph 88(1)(d)(ii.1) Summary of s. 88(1)(d)(ii.1) … Expressed conceptually, the FMV of the partnership interest is deemed to be reduced by an amount representing that portion of the subsidiary's accrued gain on the partnership interest that is attributable to the sum of: the FMV of Canadian or foreign resource property owned by the partnership (directly or through other partnerships); and the difference between the FMV and cost amount of other forms of non-eligible property (for example, depreciable property or inventory) owned by the partnership, either directly or through other partnerships. ... Since the notional gains on the non-eligible property represent five-sixths ($25 / ($5 + $25)) of the total accrued gain ($30), for this purpose the FMV of the partnership interest ($100) is reduced by $25 (five-sixths of the $30 accrued gain on the partnership interest)] This means that the maximum s. 88(1)(d) bump on such partnership interest would be $5 ($75-$70). ...

DuPont de Nemours & Co., 608 F.2d 445 (Ct. CL, 1979), was an influential transfer pricing case. ... The discussion above treated the producer as the entrepreneur entitled to the economic rents from the ownership of natural resources. ... Glencore also recently entered into an off-take agreement with Sirius Petroleum….Off-take agreements are widely used in the mining and oil sectors. … In other situations, they are between independent parties. ...

[T]he predecessor provision to paragraph 12(l)(g) was introduced in response to a case in early Canadian tax jurisprudence that found that income from a royalty that was carved out (retained) by the vendor on the sale of a resource property was on capital account to the vendor because it arose from the sale of a capital asset. ... Partnership interests are property under scheme of Act (p. 9: 10) [S]ince the Act treats a partnership interest as a separate capital property, and dispositions of such interests are taxed to the partner as a sale of capital property and not as though the partner sold a right to the partnership’s assets … it would be more appropriate for paragraph 12(l)(g) to generally not apply to dispositions of partnership interests for the same reasons discussed above, in the context of share sales. ...