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Under subsection 148(4), the pro rata ACB associated with this disposition is $10,000 ($40,000 × $30,000/$120,000). This results in a taxable gain of $20,000 (proceeds of $30,000 − ACB of $10,000). ... As a consequence, the ACB of the policy will increase from $10,000 to $40,000 and the prorated ACB will be $10,000 ($40,000 × $30,000/$120,000), resulting in a $20,000 policy gain. ...

This rule [applies] … whether such income is passive in nature or constitutes business income. … If a non-resident corporation earning passive rental income were to make an election under subsection 216(1), the rental income would become subject to federal income tax under part I as though the non-resident corporation were a resident of Canada. ... Since the aforementioned federal abatement under subsection 124(1) of the Act is not available, the result is that the non-resident corporation is subject to a 36.6 percent tax rate. … [W]here a non-resident disposes of real estate situated in Quebec, which constitutes “taxable Quebec property” (TQP) (as defined in section 1094 of the QTA) as well as “taxable Canadian property” … the absence of an equivalent provision to section 12(2) of the QTA in the Income Tax Regulations results in a certain degree of double taxation …. ... Where the operating company is a Canadian-resident corporation and a wholly owned subsidiary of the non-resident investor, the terms and conditions of the head lease will need to respect the arm’s-length principle …. ...

John Lorito, Trevor O'Brien, "International Finance – Cash Pooling Arrangements", 2014 Conference Report, (Canadian Tax Foundation), 20:1-33-- summary under Subsection 212(3.3) Summary Under Tax Topics- Income Tax Act- Section 212- Subsection 212(3.3) Unavailability of s. 212(3.3) where Canco owes $50 to Netherlands intermediary, which owes $40 to Caymanco and $100 to USCo – because U.S. withholding rate is 0% (p. 7) At first glance, it seems [in this example] that the rule in subsection 212(3.3) may apply as there would appear to be two intermediary debts and, therefore, two non-residents to which interest is deemed to be paid, namely, USCo and CaymanCo. ...

Tina Korovilas, Drew Morier, "Non-Corporate Vehicles in the Foreign Affiliate Context", 2018 Conference Report (Canadian Tax Foundation), 20:1 – 114-- summary under Paragraph (a) Summary Under Tax Topics- Income Tax Act- Section 95- Subsection 95(1)- Excluded Property- Paragraph (a) Potential qualification of partnership interest under EP – para. ... Under partnership law in common-law provinces, all members of a partnership are considered to be carrying on any activity carried on by the partnership [fn 166: Robinson Trust … 98 DTC 6065… nos. 9722815… 2000-0059145,… 2001-0090655;… 2002-0149977,…and 2001-0070605,…See also 9636835…confirmed… 2012-0453991C6 (f)…after this principle was challenged in the case of Quebec civil-law partnerships in Laval (Ville de) c. ...

Gordon Zittlau, "Corporate Reorganizations Involving Taxable Canadian Property – Foreign Merger Considerations", International Tax Planning (Federated Press), Vol. XX, No. 3, 2015, p. 1407-- summary under Subsection 87(8) Summary Under Tax Topics- Income Tax Act- Section 87- Subsection 87(8) Where there is a merger of two foreign corporations whose shares are taxable Canadian property (because of an underlying Canadian real estate or resource sub), s. 87(8) may provide rollover treatment – but there still could be a share disposition giving rise to s. 116 filing and withholding requirements unless the para. ... Where a merger results in a continuation of the merged corporations, the legal principles expressed in… Black & Decker [[1975] 1. ...

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 Subsection 237.4(18) Summary Under Tax Topics- Income Tax Act- Section 237.4- Subsection 237.4(18) 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. Furthermore, that case found that it was “ not absolutely necessary here to rely on notaries or lawyers rather than on alternative sources in order to obtain the information or documents being sought.” ...

Tina Korovilas, Drew Morier, "Non-Corporate Vehicles in the Foreign Affiliate Context", 2018 Conference Report (Canadian Tax Foundation), 20:1 – 114-- summary under Subsection 90(1) Summary Under Tax Topics- Income Tax Act- Section 90- Subsection 90(1) Most pro rata corporate distributions are dividends (pp. 20:16-17) Cangro Resources … held that for the purposes of the Act, “dividend” was to be given its “accepted ordinary meaning” – that is, of a pro rata distribution to all shareholders, other than a formal reduction of paid-up capital or liquidating distribution. … Despite the CRA’s administrative practice, the essence of a dividend, according to the jurisprudence, is a pro rata distribution by a corporation among its shareholders that is not a reduction of capital or a liquidating distribution. ...

Ian Zahra, "The Principal Purpose Test: A Critical Analysis of Its Substantive and Procedural Aspects – Part I", Bulletin for International Taxation, November 2019, p. 609-- summary under Article 7(1) Summary Under Tax Topics- Treaties- Multilateral Instrument- Article 7- Article 7(1) OECD interpretation of “principal purpose” (p. 614) [W]hat is a principal purpose? ... “Notwithstanding the other provisions of this Convention”. … [After referencing view of Danon:] If a purported abusive arrangement can be dealt with by the PPT and a SAAR, the SAAR should prevail, provided that the SAAR does cover the same situation. ... This is evidenced by the fact that a number of examples in the Commentary on Article 29 of the OECD Model (2017), such as Examples A and B … are based on fact patterns of past cases argued on the basis of beneficial ownership clauses. ...

Xiao, "The 88(1)(d) Bump – An Update", 2013 Conference Report (Canadian Tax Foundation), pp.13:1-60-- summary under Clause 88(1)(c.2)(iii)(A) Summary Under Tax Topics- Income Tax Act- Section 88- Subsection 88(1)- Paragraph 88(1)(c.2)- Subparagraph 88(1)(c.2)(iii)- Clause 88(1)(c.2)(iii)(A) Meaning of "significant" in s. 88(1)(c.2)(iii)(A) (pp. 13:46-48) [F]oreign Parent owns Interco, which owns Bidco. ... … Given that the lowest threshold for significant interest in the Act is 10 percent, it is reasonable to argue that the threshold for "significant direct or interest interest" should be no less than 10 percent…. Mitigate s. 88(1)(c.2)(iii)(A) risk by postponing kick-in date of conversion right (p.13:48) One … approach [to mitigate risk in the above scenario] is to ensure that the non-specified person investor, Arm's-Length Investor, does not become a specified shareholder until after the acquisition of control. ...

Kevin Bianchini, Reuben Abitbol, "Taxation of Stock Appreciation Rights", Taxation of Executive Compensation and Retirement (Federated Press), Vol. 24 No. 8, 2015, p.1655-- summary under Paragraph 6(1)(a); Payment & Receipt Summary Under Tax Topics- Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) Summary Under Tax Topics- General Concepts- Payment & Receipt Safe harbour until SAR vesting (p. 1656) [T]he CRA has taken the position that until the employee has a right to exercise and cash in the SARs, the SDA rules would not apply. [f.n…. 9422835 …] In other words, once the SAR units become fully vested it would have be determined whether the executive is postponing the exercise of the SARs in order to avoid the immediate tax consequences (i.e., the employment income). ... Alternative application of constructive receipt (“CR”) at time of vesting (p. 1657) [I]n the context of the recognition of employment income, the Canadian jurisprudence has yet to develop guidance with respect to the doctrine of CR …[T]he CRA addressed its position with respect to CR in the context of SDAs in… 1999-0007315 …. ...