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Peakhill Capital Inc. (2024 BCCA 246) …. ...

[fn no 2: The bank receives a fee from its customer (called an acceptance fee or "stamping fee" of about ¾ of 1% of the principal amount of the acceptance), as compensation for its services, but otherwise receives no value for the instrument, the proceeds of sale being paid directly to or to the order of the drawer.] ... [f.n. 6: "When one purchases a bearer deposit note or a bankers acceptance, one is in fact purchasing a chose in action – a debt owed by the bank. ...

. … These are important exceptions, since they allow, for example, the parent to issue shares or debt in exchange for money in order to finance an acquisition of the subsidiary, without having to worry about whether the persons acquiring the shares or debt are prohibited persons. ... Note, however, that this exception does not extend to stock options issued for other consideration — for example, options issued to subsidiary employees as an incentive to remain with the company post-AOC [acquisition of control].] ...

It is clear that the payment of a stock dividend does not constitute a transfer of property…[a]s… stated in Algoa Trust …. ... " [fn 22: … 98 DTC 6358, at paragraph 20…] Applying such a broad interpretation, a court could find that property of Projectco has been transferred indirectly to the developer. ...

DuPont de Nemours & Co., 608 F.2d 445 (Ct. CL, 1979), was an influential transfer pricing case. ... 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. ...

[fn 42: 2014-0538261C6] … The CRA's conclusions in this technical interpretation may represent an overly narrow reading of subsection 107(2). ... [T]he only question at issue was presumably whether the trustees had, as a matter of trust law, the power to distribute property to the beneficiaries of the trust in their capacity as partners of the partnership. … There appears to have been a very compelling position that subsection 107(2) should apply to a direct distribution of trust property to the partnership on the basis that the partnership should be regarded as a beneficiary under the trust, even without a variation of the terms of the trust. ...

Fourth, the courts have generally refrained from applying GAAR to surplus-stripping transactions involving arm’s-length transfers – see McMullen (the taxpayer and his business associate, who had different interests in the severing of their business relationship and were dealing at arm’s length, and whose transactions were each found to be undertaken for bona fide non-tax purposes of separating the business), and Univar (finding that the series of transactions stemmed flowed from an arm’s-length purchase of shares, a context in which s. 212.1 did not apply. ... In Example 3, per “ Geransky and Kennedy, the sale of the capital assets in and of itself should not constitute a reorganization for the purposes of subsection 84(2) provided that R Co continues to carry on the same business.” ...

See also summary under Treaties – Art. 9. ...

See also summary under Treaties – Art. 5. ...

If the fresh-start rules apply, the gain is calculated as $300 ($400- $ 100), and on the facts no further adjustment is made under paragraph 95(2)(f.l), because no part of the gain is considered to have accrued before the taxpayer acquired the non-resident. ...