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24 August 2021- 11:42pm Miller – Federal Court issues a s. 231.7 compliance order for a description of the terms of an oral contract Email this Content Mr. ... Miller ought to have documented in his records,” that the “requests do not stray into the problematic type of questions identified in Cameco and BP Canada ” e.g., an attempt “ to compel Mr. ... Regarding the required disclosure of the trust ledger accounts with the law firms, she stated: I do not agree that the Cameco decision establishes that a taxpayer discharges their obligation to satisfy a request that is otherwise within the scope of subsection 231.1(1) with a response that they simply do not have those documents in their possession. … [A] taxpayer is required to exercise reasonable efforts to obtain and provide to the Minister information and documentation that should be in its books and records. ...

6 March 2025- 10:49pm Brookfield Renewable Power – Quebec Court of Appeal confirms the reduction of the deductible interest on loss consolidation loans from 14% to 8.75% based on parent’s borrowing costs Email this Content Loss consolidation transactions between a “Lossco” in the Brookfield group (“BRPI”) and “Profitcos” resulted, for instance, in BRPI holding $2.3 billion of loans in its Profitco subsidiary, and the Profitco holding $2.3 billion of preferred shares of its parent until this reciprocal arrangement was reversed five months’ later. ... Instead, he favoured an approach based on the correct criterion, taking into account the particular nature of the transactions carried out … in the context of the consolidation of losses … and retaining, as an objective element … the financing costs incurred by the parent company and BRPI at the relevant time. ...

18 November 2019- 11:41pm Wolf – Federal Court of Appeal questions Tax Court view that an individual could derive business revenues through an LLC Email this Content A U.S. engineer provided services to Bombardier in Canada over a 188-day period (straddling the 2011 and 2012 years). ... However, this point was not argued – and the taxpayer’s appeal was dismissed anyway as there was no reversible error in the Tax Court’s finding that the taxpayer had not adduced evidence as to the US revenues of the LLC for the straddle period. ... Canada, 2019 FCA 283 under Treaties – Income Tax Conventions – Art. 5. ...

In the Court of Appeal, Boivin JA indicated that the lack of homologation was irrelevant, and then stated: …[B]oth orders from Barbados and Cyprus are proof that the corporate resolutions have been rectified to authorize the dividend payments and to transform them into indebtedness, no more, no less. … I cannot agree … that…these foreign orders are dispositive and that the Minister has no choice… but to accept the dividends are actually loans because the orders from Barbados and Cyprus say so. ... These determinations are for the Tax Court judge to make, with a full evidentiary record at his or her disposal. … On this basis, he concluded that Lamarre ACJ should not have answered the Rule 58 question, and set aside her judgment and dismissed the Rule 58 motion before the Tax Court. ... The Queen, 2017 FCA 39 under General Concepts – Rectification. ...

9 January 2018- 11:27pm Kenny – Tax Court of Canada finds that foreign government assistance scuppered the “substantially all” test in s. 118.94 (which did not violate a non-discrimination Treaty Art.) ... In this regard, C Miller J stated: … [C]ases have relied on percentages as low as 76% to be considered substantially all. ... The Queen, 2018 TCC 2 under s. 118.94 and Treaties – Articles of Treaties – Art. 25. ...

4 May 2021- 10:01am Gervais Auto – Quebec Court of Appeal finds that 10% interest on unsecured loans from shareholders was not unreasonable Email this Content The taxpayer financed its inventory of used automobiles held for resale through unsecured loans from the family Holdcos that were its shareholders. ... Before reversing the decision below to confirm these reassessments, the Court of Appeal stated (at para. 13, TaxInterpretations translation): The appellant was not required to make out a prima facie case that the 7.89% rate was unreasonable but, rather, that the assumption, on which the respondent relied in assessing it, that the 10% interest rate deducted from its income for the taxation years in issue was not "reasonable in the circumstances," … was prima facie … unsound. ... Agence du revenu du Québec, 2021 QCCA 459 under s. 20(1)(c) and General Concepts – Onus. ...

21 April 2019- 11:41pm Resource Capital Fund IV LP – Full Federal Court of Australia finds that the effecting of a share sale pursuant to an Australian Scheme of Arrangement pointed to an Australian source Email this Content Two Caymans investment LPs with mostly U.S. ... That arrangement took place in Australia, and accordingly, because the scheme was the “proximate” origin of the profits earned, and because of the other connections with Australia summarised by the primary judge … including the location of the mine in Western Australia, those profits had a source in Australia. ... Summaries of Commissioner of Taxation v Resource Capital Fund IV LP [2019] FCAFC 51 under s. 152(1), s. 115(1)(a)((ii) and s. 248(1) – taxable Canadian property – para. ...

16 August 2019- 12:24am Keybrand Foods – Tax Court of Canada finds that if A controls de facto B and C, B controls de facto C Email this Content The taxpayer and its parent (BWS) were guarantors of loans to an unrelated corporation (Vidabode) which had defaulted on loans from GE Capital. ... Jorré DJ stated that at the time of this second borrowing: the reasonable expectation … was that the company would quickly collapse. ... In finding that this meant that the taxpayer did not deal at arm’s length with Vidabode, so that no ABIL could be claimed, Jorré DJ stated: The practical effect of the casting vote is the same as if BWS has the power to name three out of five directors. … S ilicon Graphics … is met. ...

13 November 2019- 12:07am Addy – Federal Court of Australia finds that the imposition of flat tax on UK working-holiday visa holders contravened the Treaty non-discrimination Article Email this Content The taxpayer, who was a British citizen aged 23, came to Australia on a “working visa” for a 20-month stint, during which period she was found by Logan J to be resident in Australia on ordinary principles. ... A resident “national” of Australia undertaking the same work as did Ms Addy … would have the benefit of the tax free threshold. ... Summaries of Addy v Commissioner of Taxation [2019] FCA 1768 under Treaties – Income Tax Conventions – Art. 25 and ITA s. 2(1). ...

10 August 2020- 11:10pm Addy – Federal Court of Australia, Full Court finds that the imposition of flat tax on UK working-holiday visa holders did not contravene the Treaty non-discrimination Article Email this Content The taxpayer, who was a British citizen aged 23, came to Australia on a “working visa” for a 20-month stint, during which period she was found by the Court to be a deemed Australian resident (based on her satisfying a 183-day presence test). ... Commentary … warns against “unduly” extending the reach of Art. 24 of the Model Tax Convention (here Art. 25 of the Treaty) to “cover so-called “indirect” discrimination.” ... Summary of Commissioner of Taxation v Addy [2020] FCAFC 135 under Treaties – Income Tax Conventions – Art. 25. ...