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The short answer appears to be — no…. Misinterpretation of effect of LLC Agreement (p. 439) First, with respect, the decision — that section 4.2 of the LLC agreement (together with certain provisions of the Delaware LLC Act) that required that profits be allocated to LLC owner capital accounts immediately vested those profits in the owners — seems to be wrong. ...

. … Once fully vested, these units or SARs grant the executive a right to receive payment equal to the difference between the share's fair market value and its original price at the plan's inception. ... [f.n…. 9422835 …] In other words, once the SAR units become fully vested it would have be determined whether the executive is postponing the exercise of the SARs in order to avoid the immediate tax consequences (i.e., the employment income). ... Alternative application of constructive receipt (“CR”) at time of vesting (p. 1657) [I]n the context of the recognition of employment income, the Canadian jurisprudence has yet to develop guidance with respect to the doctrine of CR …[T]he CRA addressed its position with respect to CR in the context of SDAs in… 1999-0007315 …. ...

[fn 31: … 1995 OECD guidelines, at paragraph 5.28 (emphasis added). … the need for the documents should be balanced by the costs and administrative burdens, particularly where this process suggests the creation of documents that would not otherwise be prepared or referred to in the absence of tax considerations. ... What is reasonable is based on what a reasonable business person in the taxpayer's circumstances would do, having regard to the complexity and importance of the transfer pricing issues that arise in the taxpayer's case. … [R]egardless, we have seen the CRA assert penalties in circumstances where it ought to be uncontroversial that reasonable efforts were made. ...

. … Without a Factual PE, no income is allocated to a province. This is true for each of the "agreeing" provinces… Consequently, this income is taxable in Canada, but not earned in a province. ... [under s. 120(1).] … In our view, it's the right answer. Consider a situation where the taxpayer worked for over 182 days in Canada but did not exceed that threshold in any one province. ... Same result for non-resident corporations with only Services PE (pp. 2-3) We believe the same is true for corporations in the general sense (excluding banks, airlines, etc. … Ontario was not an "agreeing province" for corporate tax until 2009, and Alberta still is not. ...

Focus instead on autonomy of decision-making (p. 261) Ultimately, the Supreme Court held that beneficial ownership — which can be a key issue in the context of the domestic antiavoidance rules as well as the antiabuse principle of article 31 of the Vienna Convention on the Law of Treaties — should be tested, considering the nature and the functions of the direct recipient of income concerning its ability to make autonomous decisions regarding and exercise power over the funds. Therefore, in this case, understanding beneficial ownership requires considering the significant lack of operations as part of the nature of a pure holding company rather than a detrimental indicator, as it would be in the context of an operating company. … [T]he Supreme Court held that the right to claim tax treaty relief should not be limited simply because a pure holding company is wholly owned by a sole shareholder based in another country…. ...

. … The CRA's position is that the real estate corporation should limit its proportion of activities with respect to the real estate property to its proportion of co-ownership of the property. ... The parties would then lease the real estate property to a leasing corporation which would be responsible for leasing the property to various tenants. … Another common issue arises where a real estate corporation acquires a real estate property on which a hotel or similar business operates. In these cases, there may be a concern that the real estate corporation is performing activities in relation to the property that are not those activities listed in clause 149(1)(o.2)(ii)(A). … [Based on] IT-73R6…[i]n the context of clause 149(1)(o.2)(ii)(A), it could thus be argued that a real estate corporation that acquires a property on which a hotel or similar business is being operated is providing services in relation to that property and is not be holding, maintaining, improving, leasing or managing the property. ...

. … 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. ... [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.] ...

Those treaties fall into several categories: • Treaties that already contain a PPT that is narrower than the new PPT; • Treaties that did not contain a PPT, but were between countries with experience applying PPT- type rules to their tax treaties; and • Treaties that did not contain a PPT, and were between countries without experience applying PPT- type rules. ...

Resulting tax deferral (p. 9) [The 2 nd] dividend of $250,000 … amounts to $102,500 in personal tax. … Holdco has net corporate tax of $50,000 after the dividend refund ($127,000- $77,000)… The total tax is $152,500 rather than $240,000, because there is a deferral of tax until further dividends are paid from Holdco …. ...

(d) of the TCP definition (“RCP”) indirectly held by Canco, is $600 ($1,000 × 60%) – or 55% of all of the assets owned by Canco ($1,100), so that the Canco shares (the only asset of Canhold) cause the Canhold shares to be TCP to Forco. ... Similarly, the $400 value of the upstream loan should be deducted from the value of the Cansub shares, resulting in a $600 value (referred to as the "relevant FMV of the shares" by the CRA) – so that the prorated FMV of the Cansub shares derived indirectly from the RCP is $600. ...