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Commissioners for HM Revenue and Customs, [2013] UKSC 26, [2013] WLR (D) 172-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission mistake re tax consequences justified rescinding settlement of trust The claimant had settled the moneys received as damages for injury to her husband on a discretionary trust of which she and others were trustees. ...

., 97 DTC 5252, [1997] 2 CTC 286 (FCA)-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission retroactive effect of nunc pro tunc rectification order The taxpayers neglected to have shares that purportedly were issued to them in 1985 added to the authorized capital of the issuing corporation. ...

A.G. of Canada, 2015 ONSC 6245-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission reorganization of corporate structure to reflect what it was thought to be at the time of making a tax election The Telus group had a tiered partnership structure. ...

Re Razzaq Holdings Ltd (2000), 11 BLR (3d) 157, 2000 BCSC 1829-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission In 1992 the two shareholders of a corporation purported to transfer a total of 100 Class A shares and 100 Class B shares equally to two holding companies. ...

Canada (Attorney General), 2012 NSSC 217-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission proposed rectification inconsistent with financial statements The applicant, incorporated by a U.S. corporation ("Fidelity National"), received $23,659,000 from Fidelity National in order to finance its business in Nova Scotia. ...

Canada (Attorney General), 2009 CanLII 18234 (Ont SC)-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission unopposed application to reduce capital dividend to CDA balance The directors of the taxpayer mistakenly declared a dividend in an amount exceeding its capital dividend account, and it elected under s. 83(2) to treat it as capital dividend. ...

Canada, 2023 QCCS 3510, rev'd 2025 QCCA 134-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission transaction documents rectified because they did not implement the parties' intention to not trigger Part IV tax Four individuals held their indirect holdings of 10%, 10%, 5% and 5% of the common shares of a Canadian-controlled private corporation (Structures) through three holding companies (the "Holdcos"). ...

Samarkand Film Partnership No. 3 & Ors v Revenue and Customs, [2017] EWCA Civ 77-- summary under Business Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Business non-trading business At issue was whether two partnerships which acquired interests in films and immediately leased their acquired interest for fixed, increasing, secured and guaranteed rental payments for a 15 year period, and were acknowledged to have a business, were carrying on a trade. ... " In affirming the finding below (initially made by the First-Tier Tribunal) that the partnerships were not carrying on a trade, Arden LJ stated (at paras 59, 61, 66): … [I]t is now clear from Eclipse … that the question whether what the taxpayer actually did constitutes a trade has to be answered by standing back and looking at the whole picture…. … The [FTT’s] overall assessment of the commercial nature of the agreements as the payment of a lump sum in return for a series of fixed payments over 15 years…was not a crude conclusion based on an impermissible transformation of the taxpayers' activities into an economic equivalent, but rather a way of expressing the ultimate inference of fact which they drew from the totality of the primary facts which they had found. ...

Anderson v Benson Trithardt Noren LLP, 2016 SKCA 120, aff'd 2017 SCC CanLii 8568-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission drop-down documents could not be declared retroactive to the previously-agreed effective date, as this would undercut the Tax Court The taxpayer’s accountants met with him on October 6, 2011, when it was agreed that he would transfer personally-owned land and equipment on s. 85 rollover basis to his corporation in order to facilitate paying off a loan owing by him to the corporation. ... In dismissing the appeal, Lane J. stated (at paras 29, 34): … The Chambers judge was correct to limit the application of the rectification remedy as he did. He saw the application for a declaration for what it was – an attempt to obtain equitable relief not available from the Tax Court, which is a superior court of record but not a court of inherent jurisdiction, and to thereby attempt to determine the outcome of an assessment appeal by essentially binding the hands of that Court. … The Chambers judge properly limited his decision to the issue between the appellants themselves. ...

Samson, 2023 QCCA 332-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission date of Quebec agreement did not reflect the parties’ existing intention to realize a loss The respondent (Samson) and a corporation (Bourgade) implemented a plan set out in a tax-planning memo of a tax advisor that contemplated that they would transfer their shares of a corporation (CRP) in December 2013 after having satisfied the conditions for realizing a business investment loss under s. 50(1)(b)(iii). This result was premised on their having had a November 30, 2013 taxation year – which had occurred for Bourgade, but not for Samson who, as an individual, had a calendar taxation year. ... This is not a case where the taxpayer is seeking a tax benefit that he did not anticipate at the time of his tax planning. … The answer might have been different if the rectification had given the taxpayer an additional tax benefit that he had not anticipated at the time of his tax planning. ...