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The transitional provision indicated that the reduced rate applied inter alia “to any supply … made on or after January 1, 2008.” ... In any event, ETA s. 133 (which, in approximate terms, deems supplies of property to occur when the agreement for their supply is entered into) deemed the agreements to be supplies of the condos, with D’Arcy J. noting in this regard that “[t]he application of section 133 is also not contingent on the existence of the Condo Units at the time the parties entered into the … Agreements ….” ... The Queen, 2022 TCC 56 under ETA s. 133 and s. 225(1) – A(a). ...

17 November 2021- 10:17pm Lauria – Tax Court of Canada accepts that shares transferred 3 weeks prior to filing the IPO preliminary should be valued at a 40% “marketability” discount to the IPO value Email this Content On April 1, 2006, the taxpayers, who were executives of Gluskin Sheff+Associates Inc. ... In fact, the Appellants just seemed to ignore it, when in my opinion, having regard to their skills in and knowledge of the securities industry from working as executives for a wealth management firm and the multiple other circumstances or red flags that went up … they were clearly aware of the impact of the IPO’s value on their holdings. ... The Queen, 2021 TCC 66 under General Concepts – FMV – shares and s. 152(4)(a)(i). ...

8 August 2021- 10:58pm 4431472 Canada – Federal Court sets aside a CRA decision not to reassess on the basis that it was unclear whether it was a final decision Email this Content A Canadian corporation (“443 Inc”) filed its tax returns on the basis that distributions received by it from a trust were distributions of fee income (the “GAM fees”). ... In explaining the significance of the distinction between these two alternatives, Pamel J had earlier noted the statement in IT-335R2 regarding s. 56(2) that “it is normally the … CRA … practice not to assess the same income twice. ...

20 December 2021- 10:57pm Godcharles – Quebec Court of Appeal applies s. 68 to reallocate between a retirement home’s business operations sold by one vendor and the home sold by the other vendors Email this Content A group of unrelated individuals were the co-owners of a seniors’ residence, which was leased by them to the corporate operator of the residence (“9118”), whose shares they owned in the same proportions as the residence. ... Agence du revenu du Québec, 2021 QCCA 1843 under s. 68(a), s. 69(1)(b)(i), s. 251(1)(c) and General Concepts – FMV – real estate. ...

Mahadevan J stated: Formula One … expressly held that exclusive possession is not essential – temporary or shared use of space is sufficient, provided business is carried on through that space. … [T]he functions performed by the appellant, through its staff operating from the hotel premises … clearly establishing their control over the day to-day operations of the hotel. ... Mahadevan J went on to state: [T]he appellant’s executives and employees made frequent and regular visits to India to oversee operations and implement the SOSA. … Under Article 5(2)(i) of the DTAA, the relevant consideration is the continuity of business presence in aggregate – not the length of stay of each individual employee. ... No. 9766 of 2025 under Treaties – Income Tax Conventions – Art. 5. ...

26 January 2021- 11:11pm CIBC – Federal Court of Appeal finds that VISA provided a GST/HST-exempt financial service to CIBC Email this Content CIBC issued Visa credit cards and utilized the Visa payment system, for which it paid fees to VISA. ... To describe the benefit that CIBC obtained from Visa’s services … as "quintessentially administrative," [as was done by the Tax Court] does not … adequately recognize the reality of the benefit that CIBC derived. ... Canada, 2021 FCA 10 under Financial Services (GST/ HST) Regulations – s. 4(2)(b). ­­­­­­­­­­­­­­­ ...

28 July 2021- 10:29pm Ménard – Court of Quebec applies the kiddie tax to a trust’s distribution of a capital gain, realized on a crystallization transaction, to a minor beneficiary Email this Content In 2012, a discretionary family trust engaged in a capital gains crystallization transaction in which it disposed of shares, having a modest ACB, of a small business corporation wholly-owned by the trust in consideration for shares of a new class of the same corporation, and then allocated and distributed the capital gain to its beneficiaries, one of whom was a minor. ... The statutory language relevantly required that an “amount can reasonably be considered to be attributable to a taxable capital gain … of a trust from a disposition of shares … that are transferred, either directly or indirectly … to a person with whom the specified individual does not deal at arm's length….” Taxpayer’s counsel argued that this language required that there be two distinct transactions – first, a disposition, and second, a transfer – whereas here the disposition and the transfer instead were one and the same transaction. ...

11 December 2018- 11:46pm Adecco – English Court of Appeal finds that a placement service providing non-employee temps to clients was not paying the temps’ compensation on the clients’ behalf Email this Content An employment bureau (Adecco) introduced temporary staff ("temps"), who were not Adecco employees, to clients looking for a temporary worker to undertake an assignment, and if the temps accepted an assignment, Adecco paid them for the work they did for the clients – and collected those amounts plus a mark-up from the clients. ... Summary of Adecco UK Ltd & Ors v Revenue & Customs [2018] EWCA Civ 1794 under s. 123(1) – consideration. ...

13 November 2018- 12:31am Iberville Developments – Quebec Court of Appeal finds that it is abusive to use rollover provisions to avoid rather than defer tax Email this Content Three affiliated Quebec corporations avoided (or so they thought) most of the Quebec tax on the sale of Quebec real estate at a gain of around $800M (including some recapture) by using a “Quebec year-end shuffle.” ... Agence du Revenu du Québec, Quebec Court of Appeal No. 500-09-026184-168 (November 12, 2018) under s. 245(4), s. 9 – capital gain v. profit – real estate and s. 18(1)(b) – capital expenditure v. expense – improvements v. running expenses. ...

But the purchase price was a once-and-for-all payment for the acquisition of an asset of enduring advantage – the 18 GMEs – which once acquired formed part of the profit-earning structure of the Trustee's business. ... Summaries of Commissioner of Taxation v Sharpcan Pty Ltd [2019] HCA 36 (High Court of Australia) under s. 18(1)(b) – Capital Expenditure v. Expense – Contract Purchases and Concessions and Licences, and s. 13(34)(b). ...