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Before remitting the adverse decision of the CRA review officer for decision by another officer, Southcott J noted that the CRA position- that the taxpayer had not made a reasonable error (the first element of s. 204.1(4)) given that the taxpayer was notified of his contribution on a sufficiently timely basis that he could have gone back to RBC to correct its reporting of the contribution while it still had sufficient records of the transaction – was not supported by the record, which did not establish that CRA had notified the taxpayer of his alleged over-contribution in 2013 before December 2020. ...

. … [I]n tax matters, where the federal and provincial provisions are appreciably in the same form, a presumption of coherence between the two provisions should prevail. ...

. … Further, once the respondents were swayed to buy into WTC’s plan by the thought of turning an unexpected profit out of their crystallized tax liability through what they viewed as a risk-free exercise, they became the instruments through which WTC, acting as the sole mastermind, would lay its hands on the $1.3 million [equal to the tax liability], isolate it with the remaining cash in the subsidiaries and share it with the respondents in the proportion that it imposed. ...

He accepted (at para. 26) the “frustrating event” doctrine from Sazio (2018 TCC 258), but stated (at para. 26): To invoke frustration, the surrounding circumstances must make the frustrating event unforeseeable, beyond the buyer’s control, and deny the buyer any alternative pathway to having the property be their primary residence …. ...

Regarding the Reg. 2401(2)(d) designation, the text and legislative history supported the view that the insurer had the discretion to designate Excess CIF in respect of any of its insurance businesses – even an insurance business (here, the A&S business) that was exempted from tax. ...

(r.5) of an exclusion from a financial service for the delivery of property “in conjunction” with one of the listed services, was applicable agreed (at para. 56) with the view of Hogan J that “the addition of new paragraphs (r.4) and (r.5) to the definition of financial service … raises a new issue of whether, in light of these new provisions, PC Bank was providing a financial service to CIBC” i.e., the 2009 Decision and this appeal did not deal with an identical issue ...

Canada (Attorney General), 2023 FC 1496-- summary under Subparagraph 141.02(19)(b)(ii) Summary Under Tax Topics- Excise Tax Act- Section 141.02- Subsection 141.02(19)- Paragraph 141.02(19)(b)- Subparagraph 141.02(19)(b)(ii) it was fair and reasonable for CRA to deny relief from a mistake attributed to outsourcing all of a tax department The appellant (“BANA”), a Canadian subsidiary of Bank of America Corporation, reduced its Canadian tax department from four to one employee in 2018 as it entered into a tax outsourcing arrangement with Ernst & Young (EY). ...

. … Consistent with the theory of economic allegiance described by the majority in Alta Energy, which recognizes that a recipient of passive income need not have any allegiance to the paying country, the focus of the rationale of Article 10(2) is not how the common shares of Husky came to be owned by the Luxcos, but whether the Luxcos satisfy the residence requirement, the beneficial owner requirement and the voting power requirement. ...

BlackRock HoldCo 5, LLC v Commissioners for His Majesty's Revenue and Customs, [2024] EWCA Civ 330-- summary under Article 9 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 9 to make a cross-border inter-affiliate loan comparable in risk to the hypothetical independent enterprises’ loan, risk-protection covenants were to be imputed to the latter The structure for the acquisition by the BlackRock group of the U.S. target (“BGI”) entailed a BlackRock LLC (“LLC4”) lending US$4 billion to a wholly-owned LLC (“LLC5”) as well as injecting substantial equity into LLC5, with LLC5 using most of those proceeds to subscribe for preferred shares of the transaction Buyco (“LLC6” – which acquired all the shares of BGI). ...

(para. 48) “[T]he transactions were structured in the way they were to benefit Corco … [which] needed a way to finance the purchase.” ...