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White … continued to have full access to the funds in the account. Accordingly, he vacated the s. 160 assessment, and found that the s. 325 assessment could only be made in the smaller amount ($34K) of the transfers that had, in turn, been made from their joint account to the taxpayer’s own bank account. ...

Gleason JA did not consider that doctrine to be applicable, but found that even if the doctrine did apply, it did not work in the taxpayer’s favour, stating (at para. 27): [B]oth common sense and the expert evidence establish that the reason for administration of dental anesthetics- including those containing epinephrine- is pain control …. ...

. … [T]he Appellants are [still] the children of …[the father]. ...

As a technical matter, s. 112(3.1) did not apply to deny any portion of this capital loss because the NSULC paid all its dividends on a separate class of preferred shares that it had issued as a stock dividend – rather than on the common shares on which the LP had realized the loss. ...

Campbell J stated that these constituted “exceptional circumstances and facts” (para. 18) which allowed her to conclude that the taxpayer could avail herself of the due diligence defence – so that the appeal was allowed. ...

That assumption is consistent with the drafting structure in the concluding portion of paragraph (f) of the definition of “builder” [in s. 123(1)]. ­­­­­­­­­­­­­­ ...

The Queen, 2020 TCC 128-- summary under Adjusted Cost Base Summary Under Tax Topics- Income Tax Act- Section 54- Adjusted Cost Base value of shares included in fee income established their ACB St-Hilaire J found that the value of shares that a broker (Lockwood) received for its services was to be included in its income when its entitlement to receive those shares was established – which occurred when it reached a settlement agreement in its 2012 taxation year that established the number of shares that it was entitled to receive from a successor (AOI) to the original client. ...

Shirzad J found that even if the taxpayer’s ETA interpretation were correct, this would not have justified late source-deduction remittances – and that, in any, event “subsections 152(1)(a) and 168(1) of the ETA clearly indicate that the Applicant’s GST/HST payments are due on the date in which the Applicant issues its invoices” (par. 54). ...

HER MAJESTY THE QUEEN, 2021 FCA 17-- summary under Effective Date Summary Under Tax Topics- General Concepts- Effective Date price adjustment clause eliminated any possible value discrepancy between the FMV of the transferred property and the consideration therefor Before finding that s. 160 did not apply to a s. 55(3)(a) spin-off transaction in which each component transaction entailed a value-for-value exchange including the issuance and redemption of preferred shares with a price adjustment clause, Noël CJ noted, in passing, at para. 50: …160(1)(e)(i) … provides that the consideration is inadequate when the fair market value of the property transferred exceeds the fair market value of the consideration given at the time of the transfer (see Birchcliff Energy Ltd. v. ...

He stated that there indeed was consideration going the other way in the form of “Newco in turn … surrender[ing] the shares which had a corresponding $30 million value in its hands” (para. 69). ...