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Example of application of s. 212.3(1)(a)(ii) to loan made by 9% shareholder of (factually NAL) Canco (held by NR Parent) to a CFC held by Canco (p. 6) [T]he CRIC and NR Parent [holding 9% and 91% of the shares of Canco1, which holds the subject corporation] deal at arm’s length, but … the CRIC does not deal at arm’s length with Canco1 due to factual circumstances…. ...

. — One possibility is that these are orphaned references from the prior version of these provisions, as there is no longer a reference to "particular time" in subsection 212(3.6). ...

[I]n another technical interpretation, [fn 28: … 9301835] the CRA stated that non-recourse debt obtained by a partnership that arose as a result of legitimate commercial transactions unrelated to a general partner’s acquisition of a partnership interest would not generally be considered to be an amount granted for the purpose of reducing the partner’s loss from being a partner. ...

. … …The unitholders' investments are managed on a discretionary basis. ...

If Canco instead elects, the $100 million dividend is treated as having been paid from preacquisition surplus, triggering a $50 million gain – but s. 93(1.1)(b) then applies to recharacterize a portion of that gain as a distribution from taxable surplus. ...

That, where CRA has determined that the subject property is not TCP, it issue a s. 116 certificate on that basis, rather than a letter stating that it cannot issue a certificate because the property is not TCP (the certificate could be issued on the basis that no Canadian income tax is owing on the disposition) – or, failing that, publish a position that such a “No-TCP” letter releases the purchaser from liability. ...

. … [T]he court held the transaction was not a sham because it was not constructed to create a false impression-the appearance created by the documentation was the reality…. ... Noël JA concluded that on that basis the filings were a sham. … The classic Snook formulation of a sham requires a common intention that the acts or documents are not to create the legal rights and obligations which they give the appearance of creating. ...

Unfortunately, the issuer may not be able to apply the foreign exchange loss to offset a portion of the forgiven amount… Comparison with open market purchase]T]he capital gain realized under subsection 39(3) is equal to the excess of the amount for which the obligation was issued over the purchase price to be paid....CRA...has taken the position [fn 4: … 2008-0302511I7....]… that the amount for which the obligation was issued, and the purchase price to be paid, need to be translated into Canadian dollars using the relevant exchange rates at the times such amounts arose. ...

CRA misconcepton that no GST avoidance (p. 2) In an internal presentation from the Compliance Programs Branch...that was prepared in September 2006, it was indicated that "misconceptions exist at all levels that tax avoidance does not exist in relation to the Excise Tax Act "…. ...

Ownership of Shares in Related Upstream Corporations: a person is deemed to be a specified shareholder of a particular corporation if that person meets the 10 percent share ownership (or deemed share ownership) threshold in any other corporation that both: is related to the first corporation; and has a ''significant direct or indirect interest'' in the first corporation — that is, an ''upstream'' related corporation. ...