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For these purposes, “Canadian resource property” is defined in section 370(b) of the QTA [by reference to] … a mineral resource in Canada …. ... On a literal reading of the relevant dispositions of the Q TA, these shares would constitute TQP … The result would be the same where the Canadian corporation was instead a foreign corporation. ... [Footnote 102 … document no. 07-010503 ….]. ...

– Limitations on Expenditures Pursuant to Sections 143.3 and 143.4", draft version of paper for CTF 2043 Conference Report.-- summary under Cost Amount Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Cost Amount Whether money has cost amount (pp. 10-11) Section 143.3 applies to limit the cost of "property" acquired by the taxpayer, and does not include an express carve-out for money. … It may be that the Department of Finance determined that a clarifying rule was unnecessary since the general scheme of the Act suggests that money does not have a cost amount and that a taxpayer does not realize a gain or loss on the disposition of money, other than in the context of foreign currency fluctuations. ... By way of example: • paragraph 88(l)(d) refers to "the cost amount to the subsidiary of the property immediately before the winding-up, plus the amount of any money of the subsidiary on hand immediately before the winding-up";…[also citing, ss. 88(1)(d), 87(9), 98(3)(a)(ii), 89(1) – GRIP. 108(1) – cost amount, 132(4)]. ...

Jessica Fabbro, "Dying to Donate – Determining Charitable Donation Tax Credits on Death after 2015", Tax Topics, Wolters Kluwer, Number 2249, April 16, 2015-- summary under Subsection 118.1(5.1) Summary Under Tax Topics- Income Tax Act- Section 118.1- Subsection 118.1(5.1) Allocation of gifts on death (p.2) The amended Legislation will no longer deem all charitable gifts to have been made by the deceased immediately prior to the deceased's death. ... [fn 12: Subsection 118.1(5), effective 2016] … While this would seemingly eliminate the deceased's ability to claim the CDTC [charitable donations tax credit] on his or her terminal tax return or penultimate tax return, the definitions of "total charitable gifts", "total cultural gifts", and "total ecological gifts" have all been amended to allow the executors to allocate the charitable gifts made by the deceased on death between the deceased and the deceased's estate, provided that the deceased's estate is a "graduated rate estate" at the time the gift is made. ... [fn 20: … 2014-0555511E5 …] As a result, after the amendments are in force, spouses will have less flexibility with respect to the allocation of charitable gifts between themselves than they did under the CRA's former administrative position. ...

Joint Committee, "Subject: Federal Budget 2024 – Capital Gains Inclusion Rate", 1 May 2024 Joint Committee Submission-- summary under Paragraph 38(a) Summary Under Tax Topics- Income Tax Act- Section 38- Paragraph 38(a) design issues for proposed shift to the 2/3 capital gains inclusion rate Comments of the Joint Committee on the design issues for implementing the increase in the capital gains inclusion fraction to 2/3 included: In order to avoid costs, difficulties, uncertainties, or impediments in actually realizing capital gains before June 25, 2024, taxpayers should be permitted to file an election (see s. 110.6(19)) to be deemed to have realized all or a portion of their accrued capital gains before that date. ... With a view to avoiding retroactive effects of the increased inclusion fraction: Capital gains reserves from pre-June 25, 2024 dispositions should be brought into income at the ½ rate; The ½ deduction should be maintained for distributions from hybrid surplus generated from pre-June 25, 2024 dispositions (which might entail drafting for a second category of hybrid surplus). ...

Élisabeth Robichaud, Marie-Emmanuelle Vaillancourt, "An Avoidable Threat to the Protection of Solicitor-Client Privilege", Perspectives on Tax Law & Policy, Vol. 4, No. 3, September 2023, p. 11-- summary under Solicitor-Client Privilege Summary Under Tax Topics- General Concepts- Solicitor-Client Privilege Chambre des notaires found that a limitation imposed on solicitor-client privilege (SCP) that was “not absolutely necessary to achieve the purposes of the ITA” thereby infringed on s. 8 of the Charter, and further found that there it was “ not absolutely necessary … to rely on notaries or lawyers rather than on alternative sources in order to obtain the information or documents being sought.” ...

Carrie Aiken, Johnson Tai, "Debt Restructuring Transactions – Issues, Strategies and Trends", 2016 CTF Annual Conference draft paper-- summary under Disposition Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Disposition Rescission if the parties could sue on the 2 nd arrangement alone (p. 3) [A] contract will generally be rescinded where the parties intend to extinguish their former contractual relationship and substitute a new and self-contained agreement (as opposed to merely varying the terms of the prior agreement), [fn 18: See, for example, Niagara Air Bus Inc. v Camerman (1989), 69 OR (2d) 717 (HCJ); varied on appeal with respect to the application of the Interest Act, (1991), 3 OR (3d) 108 (CA); leave to appeal dismissed, [1991] SCCA No 374 and Amirault. ... The seminal rescission case, Morris v Baron & Co., [fn 19: Morris v Baron & Co., [1918] AC 1 (UK HL).] establishes that one method of determining whether there has been a rescission of an original agreement is to ask whether the parties could "sue on the second arrangement alone, and the first contract is got rid of either by express words to that effect, or because, the second dealing with the same subject-matter as the first but in a different way, it is impossible that the two should be both performed". [fn 20: Per Lord Devlin, in Smeaton Hanscomb & Co Ltd v Sassoon I Setty Son & Co, [1953] All ER 1471(QBD). ...

Under the proposals, all dividends and capital gains — to everybody — will be split income and taxed at the top rate. ... It is rare to see less-active participants paid even as much as $100,000 — beyond that, the benefits of income splitting are quite small anyway. ... When the business recovers, she pays back double. … The nature of the small business financed by family is that the appropriate arm's-length return is almost impossible to calculate — in many cases, no arm's-length person would finance the operation on any terms. ...

Although the terms in which the court [in … R v. Christophe, 2009 ONCJ 586] describes the intent of the 10 percent rule are broad, the court essentially echoes the statement of legislative intent by finding the purpose of the rule to be the diversification of investments and loans, such that risk is not pooled in any one person. … In September 2000, OSFI sent a memo to all members of the Canadian Association of Pension Supervisory Authorities (which included the CRA) stating that OSFI would adopt an interpretation according to which the 10 percent rule needed to be satisfied at the plan level rather than at the level of the individual investment corporation. A similar ruling was given in… 2005-0126841R3 … When it comes to interpreting two statutes with overlapping subject matter, a common-law presumption exists that the statutes should be interpreted in a coherent and consistent manner. … [T]he CRA … confirmed that the 10 percent rule for the purposes of the preamble in subparagraph 149(1)(o.2)(iii) was to be applied at the plan level and not at the corporation level. [fn 76: 2013-050832117] 30% rule (pp. 29:28-29) “[T] he 30 percent rule”) is found in section 11 of the PBSA investment rules, and it provides… 11(1) Subject to subsection (2), the administrator of a plan shall not, directly or indirectly, invest the moneys of the plan in the securities of a corporation to which are attached more than 30 per cent of the votes that may be cast to elect the directors of the corporation. (2) Subsection (1) does not apply in respect of investments in securities of (a) a real estate corporation; (b) a resource corporation; or (c) an investment corporation. … [T]he 30 percent rule applies only to securities to which more than 30 percent of the voting rights to elect directors are attached …. ...

Duff, "Tax Treaty Abuse and the Principal Purpose Test – Part 2", Canadian Tax Journal, (2018) 66:4, 947-1011-- summary under Article 7(4) Summary Under Tax Topics- Treaties- Multilateral Instrument- Article 7- Article 7(4) Limited adoption and poor drafting of remedial benefits rule [T]he MLI contains a remedial benefits rule … [fn 277 Article 7(4) ….] Of the 84 jurisdictions that had signed the MLI as of September 18, 2018, however, only 28 (not including Canada) indicated that they would adopt this provision. … Although this provision allows for the possibility of remedial benefits, it is poorly drafted since it limits these benefits to those that would have been granted to the same person ("that person") in the absence of the transaction or arrangement. ...

.-- summary under Payment & Receipt Summary Under Tax Topics- General Concepts- Payment & Receipt Discharge by paying creditor's debt (pp. 20-1) As a general rule, a debtor can discharge a debt only by payment to the creditor personally, However, if the creditor asks the debtor to pay a third party and the debtor pays the third party qua agent, such payment will be effective to discharge the debt. ... & Co. v. "The Mecca ", a rule which has been often applied in Canadian cases: When a debtor is making a payment to his creditor he may appropriate the money as he pleases, and the creditor must apply it accordingly. ...