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The Queen, 78 DTC 6267, [1978] CTC 404 (FCTD)-- summary under Payment & Receipt Summary Under Tax Topics- General Concepts- Payment & Receipt payment by mutual book entry The taxpayer was partner with another dentist in the partnership for their professional practice and tey also jointly owned a corporation (the "Company"), which initially only leased laboratory and dental equipment to the partnership. ...

., 2015 QCCA 838, aff'd 2016 SCC 55-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission transactions achieved purpose of neutralizing FX fluctuations and were not intended to avoid FAPI The professional advisors of the respondent ("PJC Canada") recommended two alternatives ("Scenarios 1 and 2") for it to neutralize the effect of foreign exchange fluctuations on the value of its investment in its wholly-owned U.S. subsidiary ("PJC USA"). ...

The Queen, 2016 TCC 43, rev'd 2017 FCA 39-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission foreign rectification orders are not binding on the Tax Court (but can be given weight) The taxpayer’s Barbado and Cyprus subsidiaries paid amounts to the taxpayer in 2004, 2005 and 2006 as dividends and then, following CRA proposals to assess the dividends, obtained rectification orders from the applicable Barbados and Cyprus courts declaring that the amounts instead were loans to it (or otherwise gave rise to indebtedness). ...

AGC, 2023 ONSC 6193-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission family trust deeds rectified to reflect the drafting contemplated in the original tax plan The two applicant trusts were formed in order to acquire the common shares of a corporation (“Signature”) in an estate freezing transaction. ...

BCM Cayman LP & Anor v Commissioners for His Majesty's Revenue and Customs, [2023] EWCA Civ 1179-- summary under Corporation Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Corporation UK LLP is a corporation In the course of finding that an unincorporated body (a Cayman LP) could not be a member of a UK LLP, Whipple LJ stated (at para. 47): UK LLP is a UK corporate body governed by the Limited Liability Partnership Act 2000 which imposes a number of requirements, including … the requirement that members must subscribe their name to the incorporation document …. ...

BCM Cayman LP & Anor v Commissioners for His Majesty's Revenue and Customs, [2023] EWCA Civ 1179-- summary under Subsection 102(2) Summary Under Tax Topics- Income Tax Act- 101-110- Section 102- Subsection 102(2) a two-tier partnership structure can be legally respected as such if the upper-tier partnership is a limited partnership The taxpayer (“Cayman Ltd.”) was a Cayman company which was the general partner of a Cayman LP (“Cayman LP”). ... He was not considering the position of limited partners in a limited partnership, whose role is limited and circumscribed by statute. … Cayman LP's business was carried on by its general partner (Cayman Ltd) and … the limited partners (including Fyled) were prohibited by Cayman law from taking part in Cayman LP's business …. ... A further basis for finding that Fyled was not a member of the UK LLP was that Cayman LP could not (and was not) recorded as a member of the UK LLP, nor was Fyled (para. 47): In any event, UK LLP is a UK corporate body governed by the Limited Liability Partnership Act 2000 which imposes a number of requirements, including … the requirement that members must subscribe their name to the incorporation document …. ...

Canada, 99 DTC 5087, [1999] 1 CTC 132 (FCA)-- summary under Scientific Research & Experimental Development Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Scientific Research & Experimental Development The taxpayer was entitled to have its expenditures treated as SR&ED notwithstanding the absence of documentary evidence relating to the repeatability of the testing data. ...

Canada, 2014 ONSC 7302, aff'd supra, rev'd 2016 SCC 56-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission continuing non-specific intention to maintain a tax neutral structure In order to facilitate the acquisition in 2002 of a hotel in Washington by a REIT ("Legacy") of which it was the manager, Fairmont Hotels Inc. ... As he was bound by Juliar, he did not have the "luxury" of following Graymar and, in any event, he did not think that Brown J in that case "has accurately described what happened in Juliar " (para. 41). ...

The Queen, 2019 TCC 6-- summary under Rectification & Rescission Summary Under Tax Topics- General Concepts- Rectification & Rescission a rectification judgment was “justifiably obtained” and, therefore, followed for tax purposes On April 15, 2002, the taxpayer signed an agreement for the purchase of shares of a real estate corporation (“Quatre Saisons”) that stated that the purchase price was to be satisfied by the payment to the vendor (“Placeval,” a corporation owned by a Mr. ... Before granting the taxpayer’s appeal from the assessment, Favreau J stated (at paras. 55, 59-60, 62): [T]he judgment of the Superior Court is not binding on the respondent as neither the Attorney General of Canada nor the Minister was involved in the application. … Although the judgment of the Superior Court is not binding on the respondent and is not res judicata, the conduct of the parties, both before and after the concluding of the transaction, clearly demonstrates their true intention to purchase and sell the shares of Quatre Saisons for nominal consideration and not for consideration based on the future sales of lots. ... The financial statements of Quatre Saisons for its fiscal years ending on March 31 of 2003, 2004 and 2005, also reflected the commissions paid in the cost of the sales of the lots. … [I]t is evident that the agreement, as reduced to writing, contained drafting errors of material importance …. ...

Clark v HM Revenue and Customs, [2020] EWCA Civ 204-- summary under Payment & Receipt Summary Under Tax Topics- General Concepts- Payment & Receipt there can be a payment even where there is a resulting trust in favour of the payor The taxpayer, a retired UK businessman, implemented a scheme to transfer funds (the “Suffolk Life Transfer") from his self-invested personal pension plan ("SIPP") to a second pension scheme (the “LML Pension,” of which the taxpayer was the sole member and whose named employer was a Cyprus company that entered into an employment contract with the taxpayer) in order to free up those funds for investment by him in the London residential property market. ... Unbeknownst to the participants, the LML Pension was void for uncertainty, as to which Henderson LJ stated (at para. 37): It is agreed … that the effect of the failure of the trusts of the LML Pension is that the transfer conveyed only bare legal title to the money, because an immediate resulting trust arose by operation of law. ... The money was intended to pass from the control and supervision of one registered pension scheme to another …. ...