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. … The provision by the customer of the loan was the consideration for both the payment of interest and the provision of the banking services. ...

The Queen, 2018 TCC 3, aff'd on s. 18(1)(a) grounds 2019 FCA 36-- summary under Total Charitable Gifts Summary Under Tax Topics- Income Tax Act- Section 118.1- Subsection 118.1(1)- Total Charitable Gifts payment relieving of a correlative contractual obligation was not a gift The corporate taxpayer agreed with the City of Chandler that it would no longer use any loan repayment proceeds received by it from a City-owned corporation- that had failed in an costly attempt to restart a paper mill close to the City – to invest in a prospective replacement economic-development LP to be sponsored by the City, but would instead make a “gift” of the loan repayment proceeds (which ended up totalling $9.3 million) to the City. ...

. … As I construe subsection 84(3), a corporation is deemed to have paid a dividend at the time of the acquisition of its shares and, even if the consideration for the shares acquired is payable over a considerable period of time, it must, for the purposes of income tax law, be regarded as being payable at the time of the acquisition. ...

. … Seeking “a sensible, practical and common sense result” is quite different from dispassionately and objectively examining the text, context and purpose of the legislation in issue; the latter turns on the nature of the legislation while the former depends on the nature of the judge. ...

Smith J found that (at para 70): … I conclude that the Appellant did not cease to be a de jure director (MacDonald v. ...

The Queen, 2018 TCC 48-- summary under Paragraph 39(1)(c) Summary Under Tax Topics- Income Tax Act- Section 39- Subsection 39(1)- Paragraph 39(1)(c) The market for the business of the taxpayer’s corporation (“Radio Progressive “) of selling and repairing radio telecommunication equipment had virtually disappeared by 2007, so that from that time on, it did not make any sales, and essentially its only activity related to the efforts of the taxpayer (Mr. ...

In rejecting this position, Paris J referred to Article 1417 of the Civil Code (“A contract is absolutely null where the condition of formation sanctioned by its nullity is necessary for the protection of the general interest”), and stated (at paras. 26, 34, TaxInterpretations translation): On numerous occasions, the jurisprudence has reiterated that a purpose which is contrary to the public order and which contravenes a penal provision, in the current case, of the Criminal Code, engages the absolute nullity of the contract in accordance with Article 1417 …. ...

In rejecting this position, Paris J referred to Article 1417 of the Civil Code (“A contract is absolutely null where the condition of formation sanctioned by its nullity is necessary for the protection of the general interest”), and stated (at paras. 26, 34, TaxInterpretations translation): On numerous occasions, the jurisprudence has reiterated that a purpose which is contrary to the public order and which contravenes a penal provision, in the current case, of the Criminal Code, engages the absolute nullity of the contract in accordance with Article 1417 …. ...

Summary Under Tax Topics- Statutory Interpretation- Interpretation Bulletins, etc. taxpayers should be able to rely on CRA position in making a capital investment After noting that the Treaty interpretation being advanced by the Crown (which had the effect of denying a Treaty benefit to a non-resident investor because, through its Canadian subsidiary, it was developing a Canadian shale deposit in an incremental manner) was narrower than that reflected in an earlier CRA position paper, and before going on to state (in footnote 10) that he “share[d] the opinion expressed in the Position Paper,” Hogan J stated (at para. 56): It appears to me that the …CRA … is repudiating its early position without admitting that it is doing so. ...

The Queen, 2018 TCC 188, aff'd 2020 FCA 4-- summary under Subsection 152(1) Summary Under Tax Topics- Income Tax Act- Section 152- Subsection 152(1) settlement agreement was grounded in reality The Justice Department entered into a settlement agreement with the taxpayer in which it agreed to permit the taxpayer to carryforward an agreed portion of a $23.4M non-capital loss – and then promptly sought to repudiate the agreement on the basis that CRA had discovered that the non-capital loss in question did not exist, so that implementing the settlement would be contrary to law (and, thus, contrary to Galway and CIBC). ...