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EY, "Proposed EIFEL rules", Tax Alert 2022 No. 13, 9 March 2022-- summary under Subsection 18.2(12) Summary Under Tax Topics- Income Tax Act- Section 18.2- Subsection 18.2(12) Effective 30% capacity generated by interest and financing revenues (IFR) from NAL non-resident – even if paid by its Cdn. branch (p. 3) [I]nterest received from any non-arm’s length nonresident appears to be excluded from IFR. ...

See, also, Black & Decker Manufacturing Co. v. R., [1975] 1. S.C.R. 411 (S.C.C.).] ...

Ernst & Young LLP (2015 BCCA 445), the BCCA decided that a limitation of liability clause in a retainer agreement for tax advice rendered by an accounting firm limited the accounting firm's liability and was enforceable against the plaintiff, Ms. ...

.-- summary under Article 29B Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 29B Treaty relief from residency requirement in 70(6) – but “will” requirement (p. 171) Subsection 70(6) applies to a transfer to a taxpayers spouse only when the taxpayer and the spouse were resident in Canada immediately before the taxpayer's death. ...

M & L Leasing, 2000 ABQB 714] ...

Proposed Paragraph 20(1)(yy) & Dividend Withholding Tax”) Where s. 18.4(4) denies a deduction for an amount paid as interest, s. 214(18) deems such amount to have been paid as a dividend for Part XIII purposes. ...

See also Cogesco... 2013 FC 1238 at paras 18-20... and 3500722 Canada... 2008 FC 554....] the Federal Court allowed the application for judicial review on the basis that the court was unable to determine on the record whether the CRA considered certain facts that the court considered relevant: … In the early years of the administration of subsection 220(3.1), it was more common for the Federal Court to find a lack of independence within the CRA during the process of subsequent reviews. ... Limited nature of relief (p. 42:10-11) The Federal Court of Appeal in Slau confirmed that in allowing an application for judicial review, it is not open to the reviewing court to mandate an outcome where more than one is possible: … The limited remedy that a reviewing court can give in taxpayer relief cases is outlined by the Federal Court in Kapil: As a matter of law, this Court does not have the jurisdiction to order the Minister to waive taxes, penalties, and arrears interest. ...

. … [M]any tax practitioners are concerned that any dividend that would entitle the corporation to recover the part IV tax could be included in the series of transactions because the jurisprudence has generally ascribed a very broad interpretation to the phrase "series of transactions. ... PUC-streaming under s. 84(1)(c) (pp. 6:45-46) …CRA has not made any specific comments regarding the potential application of new section 55 to PUC-streaming transactions. … Fundamentally, since PUC is primarily a class concept this planning requires the use of separate share classes. ...

" [fn 11: … Wood …88 DTC 1180…] Need to codify CRA practice on finalizing salary/dividend mix (p. 3) We would recommend an express CRA policy permitting the crystallization of compensation and dividends in an owner-managed business to occur, for example, up to 60 days after fiscal year end (to match the due date for T5 slip filing). ...

Exchangeable securities – exclusion for embedded exchange rights? (pp. 10:15-16) When dealing with exchangeable shares…the Department of Finance's view in the technical notes is that the taxpayer would retain sufficient economic exposure to the shares of the Canadian corporation such that the agreement to sell those shares would not be a DFA…. ... Currency forwards as potential DFAs (pp. 10:h18-19) [T]he calculation of the forward price under a currency forward agreement takes account of: (i) the spot exchange rate at the time the forward agreement is entered into, (ii) the interest rate in the base currency, (iii) the interest rate in the secondary currency and (iv) the term of the agreement. … [A] taxpayer may choose to sell forward USD$100 in a year to hedge its exposure to the US dollar. ... In any event, if the currency forward transaction would be a DFA under the analysis in paragraph (c), it is arguable that an exclusion under paragraph (b) would not be sufficient to conclude that the currency forward transaction would not be a DFA. … [G]iven that the common law principles as to whether currency transactions should be on capital account are well-established, and the fact that the intent of a currency forward transaction does not fit within the description of the type of transaction being targeted by the DFA Rules, presumably the underlying intent of the DFA Rules is not for all currency forward agreements to be DFAs…. ...