Search - 包建铎违纪违法案件以案促改以案促治专题组织生活会 个人对照检查

PWC, "Tax Insights: Cross-border cash pooling arrangements ─ Recent developments", Issue 2018-41, 2 November 2018-- summary under Subsection 15(2.6) Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(2.6) CRA expansive view of series in cash pooling context (p.2) 2017-0682631I7 … concluded that transactions occurring as part of a physical cash pooling arrangement are likely to be considered a series of loans and repayments and therefore reductions to amounts receivable would not meet the subsection 15(2.6) repayments exception. Recent CRA audit activity of cross-border cash pooling (p. 2) …The following highlights recent positions the CRA has taken in the course of audits: amounts received by a related non-resident head account holder in a cash pool from a Canadian entity member of the cash pool (as part of a cash pooling arrangement) are subject to the shareholder loan rules in subsection 15(2) of the Act the ordinary business and bona fide arrangement exception is generally not met because: there is a lack of evidence that a Canadian entity loans money to either arm’s length parties or other members in the corporate group … the terms of cash pooling deposit agreements do not generally include a fixed or specific date for the foreign company to repay the loan … [indicating no] bona fide arrangement for repayment the repayments exception is generally not met because the automatic daily cash sweeps are considered to form part of a series of loans or other transactions and repayments …each loan requires a separate [PLOI] election, so if the election is filed late, there can be multiple late filing penalties there will be no refund of the withholding tax paid on the amount of a loan deemed to be a dividend when the loan is repaid if the repayment is part of a series of loans and repayments ...

Tina Korovilas, Drew Morier, "Non-Corporate Vehicles in the Foreign Affiliate Context", 2018 Conference Report (Canadian Tax Foundation), 20:1 – 114-- summary under Section 96 Summary Under Tax Topics- Income Tax Act- Section 96 Substantive attributes of a partnership (p. 20:6) [T]he court’s reasoning in Memec supports an approach to entity classification for tax purposes that determines the essential attributes of an arrangement by reference to the substantive rights and obligations of the parties, and not merely by the existence, or lack thereof, of separate legal personality. … The members of a partnership, owing to its contractual nature, (1) have a proprietary interest in property held in partnership (although they have no direct ownership interest in such property), (2) are agents for each other (with the ability to legally bind each other), and (3) generally have unlimited liability for the liabilities of the partnership, unless registration is made to provide for limited liability. ... Dreyfus … (1929), 14 TC 560 (CA).] ...

Hersh Joshi, Jack Silverson, "Understanding and Doing Business with Tax-Exempt Entities", 2018 Conference Report (Canadian Tax Foundation), 29:1 – 35-- summary under Paragraph 8502(i) Summary Under Tax Topics- Income Tax Regulations- Regulation 8502- Paragraph 8502(i) Potential for deemed loan JV provisions to constitute borrowing ((p. 29-4) Many joint venture agreements contain a clause providing that if one of the parties (“the defaulting party”) to the agreement defaults on certain financial obligations, the other party (“the non-defaulting party”) may satisfy such a financial obligation on the defaulting party’s behalf. … If the pension plan is subject to one of these deemed loans, then—notwithstanding the fact that the pension plan has not actually been advanced any funds—the deemed loan could still be viewed as a borrowing for the purposes of regulation 8502(i). … Hotel or ALF income not from property (p. 29-5) [I]t must be ensured that any borrowing by a joint venture that includes a pension plan is used to acquire real property that produces rental income, not real property that produces income from the provision of services or income from a business, such as a hotel or an assisted-living centre. ...

Alan Kenigsberg, "Changes to Tax Treatment of ILPs under the ETA", Sales Tax, Customs & Trade, Volume XV, No 2, Federated Press, 2018, p.9-- summary under Subsection 272.1(8) Summary Under Tax Topics- Excise Tax Act- Section 272.1- Subsection 272.1(8) Self-assessment within a FMV range (p. 14) [I]f the transfer pricing model … were adopted, a transfer pricing-like study would often generate a range of acceptable arm’s length prices for particular management and administrative services. ...

Tim Barrett, Andrew Morreale, "Foreign Affiliate Update", 2019 Conference Report (Canadian Tax Foundation), 35: 1 – 53-- summary under Paragraph 15(1.5)(c) Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(1.5)- Paragraph 15(1.5)(c) Undesirability of gain if demerger of top-tier affiliate Where the demerger is of a top-tier affiliate whose FMV exceeds the net surplus and the basis in its shares, a gain will result to the Canadian shareholder – so that it may be advantageous to transfer the shares of the top-tier affiliate into a new non-resident holding company under s. 85.1(3) prior to the demerger. ...

Carrie Aiken, Johnson Tai, "Debt Restructuring Transactions – Issues, Strategies and Trends", 2016 CTF Annual Conference draft paper-- summary under Subsection 111(12) Summary Under Tax Topics- Income Tax Act- Section 111- Subsection 111(12) A Canadian public company (Canco) will be recapitalized so that the provider of debtor-in-possession financing will end up holding 2/3 of the common shares having a fair market value equaling that of the DIP financing provided by it, and most of the balance of 1/3 of the common shares will be received by the holders of the U.S. ... -dollar terms – or less than that in Canadian-dollar terms. If the transactions are structured so that the acquisition of control by the DIP financier occurs first (or is deemed to occur first under s. 256(9)), Canco will realize the accrued FX loss on the bonds under s. 111(12). ...

Michel Ranger, Rhonda Rudick, "Federal and Provincial Tax Considerations Relating to Non-Resident Investment in Canadian Real Estate", 2019 Conference Report (Canadian Tax Foundation), 32:1 – 39-- summary under Paragraph (a) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Taxable Canadian Property- Paragraph (a) Quebec taxation of income from specified immovable property [N[on-resident inter vivos trusts that own immovable property in Quebec and that earn rental income from that property (that is, passive rental income that does not constitute business income earned through an establishment in Quebec) are also subject to provincial tax in Quebec. ... Property income derived from the rental of specified immovable properties must be computed separately from income from any other sources of a specified trust. … Double taxation on a disposition of specified immovable property On a disposition of a “specified immovable property,” [by] a non-resident inter vivos trust … the taxable portion of the capital gain (and recaptured depreciation, if any) will be subject to federal income tax and the surtax at a combined rate of 48.84 percent (resulting in an effective tax rate of 24.42 per-cent on the capital gain). ...

…In another example, based on the Bank of Scotland case [fn 233: … Ministre de l’Econimie v. ... …[T]he analysis in the commentary appears to suggest that the PPT could also apply to transactions or arrangements like those in Del Commercial Properties [fn 239: C Memo 1999-411 • aff'd 251 F.3d 210 (DC Cir. 2001), denying treaty benefits on the basis of a domestic substance-over-form doctrine….] ... [fn 253: … Yanko-Weiss v. Holon Assessing Office (2007), 10 TLR 524 (Tel Aviv-Yafo DC) denying treaty benefits on the basis of an implicit anti-abuse principle.] ...

Jim Kahane, Uros Karadzic, Simon Létourneau-Laroche, "A Fresh Look at Retirement Compensation Arrangement: A Flexible Vehicle for Retirement Planning", Canadian Tax Journal (2013) 61:2, 479 – 502.-- summary under Subsection 207.6(5) Summary Under Tax Topics- Income Tax Act- Section 207.6- Subsection 207.6(5) Resident contribution rule (p. 491) Under these rules, if a newcomer to Canada remains a member of his or her home-country pension plan for more than five years, the foreign pension plan may still be considered an RCA for Canadian tax purposes. ... [fn 63: Subsection 32.1(1)] … ...

John Lorito, Trevor O'Brien, "International Finance – Cash Pooling Arrangements", 2014 Conference Report, (Canadian Tax Foundation), 20:1-33-- summary under Subsection 90(15) Summary Under Tax Topics- Income Tax Act- Section 90- Subsection 90(15) Exclusion for loans to NR subs of related Canadian corporations (pp. 11-12) Consider…the structure…in which BVCo 1 [a NR sub of the immediate U.S. parent of Canco 1] is the head account holder. … Since BVCo 1 does not deal at arm's length with Canco 1 and is not a controlled foreign affiliate of Canco 1, BVCo 1 is a specified debtor in respect of Canco 1. ...