Search - 屯门 安南都护府

“Canadian Ordinary Income” & “Foreign Ordinary Income” Definitions”) The relevant portions of the definitions of Canadian ordinary income (e.g., (a)(iii)(A) and (B) and foreign ordinary income should be clarified so that inclusions for a particular amount are not reversed as a result of any deductions or other relief that may be applicable as a result of other payments – that is, payments other than the payments that give rise to the included amounts.- For example, if a taxpayer borrows money at interest from a third party for the purpose of making an interest-bearing loan to a subsidiary, the taxpayer’s interest revenues would be expected to result in Canadian ordinary income, so that there would be considered to be an income inclusion in Canada. ...

[F.n. 13: CCQ, s. 2132] Element of representation (p. 3) Representation can be characterized by circumstances where "a person, the representative, performs an act in the name, in the place of and on behalf of another person, the represented person. [...] ... [F.n. 14: Hubert Reid, "Représentation" in Dictionnaire de droit québécois et canadien (Wilson & Lafleur, 5th edition), 872.] ... [F.n. 16: Pierre-Basile Mignault, Droit civil canadien, vol. 8, (Montreal: Wilson & Lafleur, 1909), 4.] ...

. … [T]here is a strong argument that the IA definition applies for greater certainty to ensure that LLLPs and LLPs are not treated as corporations. ... [fn 106: See Gerling Global …. v. Canadian Occidental…, 1998 ABQB 714. ...

Elevating the Explanatory Statements to context (p. 685) In international law, commentaries – or Explanatory Statements as it would be better to call them to avoid any confusion with the existing Commentaries – included with the MLI are "context" within the scope of article 31(2) of the Vienna Convention (1969)…. ... While there is a possibility of a subsequent agreement having similar effect, [F.N. … under article 31(3)(a) of the Vienna Convention (1969).] this would be much less satisfactory as agreement would in practice be harder to reach if there was no deadline…. ... For example, about 25 of the approximately 100 Dutch tax treaties are in English only, as are a substantial number of Swedish tax treaties. … Japan, which suffers the disadvantage that none of the world’s major, non-tax treaties is in Japanese and is therefore well used to the problem of treaties not being in Japanese, has concluded 23 tax treaties with non-native English-speaking countries in English only, with a further two with a prevailing English version, 20 treaties where English is one of the treaty languages, and one where French was one of the treaty languages. ...

Herbert, "Trusts Holding Shares For Employees", draft 2023 CTF Annual Conference paper-- summary under Employee Benefit Plan Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Employee Benefit Plan Use of phantom plans as EPBs (pp. 9 – 14) An employee benefit plan (EBP) can be used to acquire employer or parent company shares on the open market in order to settle phantom share awards (payable in cash or in shares), such as restricted or performance share units (RSUs or PSUs). ... The carve-out in s. 12(1)(n.1) for amounts included in an employer’s income under s. 12(1)(n) is an implicit acknowledgement that an employer can be a beneficiary – which can facilitate liquidation of the trust. ...

Kandev, "NIB Loan to Non-FA-Related Non-Resident", Canadian Tax Highlights, Vol.26, No. 4, April 2018, p. 5-- summary under Paragraph 214(3)(a) Summary Under Tax Topics- Income Tax Act- Section 214- Subsection 214(3)- Paragraph 214(3)(a) Interest-free loan from a CFA of Canco to a NR sister of Canco 2015-0622751I7 … analyzed the tax consequences of a foreign parent, its wholly owned Canadian holdco, and the Canadian holdco's Canadian subsidiary (Canco). ... Absent such explicit provision, basic principles of territoriality dictate that Canada cannot tax the amount (Oceanspan …) ...

Proposed Subsection 18.4(17) & Security Interests”) The “specified entity” rules should contain an express exclusion for arrangements that secure indebtedness, equivalent to the exclusion provided in subsection 18(5.1). ...

Bank & Trust Co. v. Eelman [(1936), 183 A. 677 at 678-9)] the New Jersey court identifies as the essence of a debt the fact that a sum is owed [fn. 8 The New Jersey court apparently means "owed" in the sense that the sum can be successfully sued for. ... Diewold, [1941] S.C.R. 35 ….] Narrower view restricting to contract (pp. 13-14) A narrower view of debt is to restrict it to money obligations arising out of express or implied contract, including quantum meruit. ...

Ralph Neville, "Acquisition of Control and Corporate Losses", 1992 Conference Report (CTF), C. 25-- summary under Paragraph 13(7)(f) Summary Under Tax Topics- Income Tax Act- Section 13- Subsection 13(7)- Paragraph 13(7)(f) ½ step-up rule does not apply for capital gains purposes (p.25:7) If a designation is made under paragraph 111(4)(e) with respect to depreciable property, paragraph 13(7)(f) of the Act deems the capital cost of the property, for the purposes of future capital cost allowance (CCA) and recapture, to be the capital cost of the property before the deemed disposition plus three-quarters of the excess of the proceeds of disposition over the capital cost. ...

EY, "Proposed EIFEL rules", Tax Alert 2022 No. 13, 9 March 2022-- summary under Subsection 18.2(12) Summary Under Tax Topics- Income Tax Act- Section 18.2- Subsection 18.2(12) Effective 30% capacity generated by interest and financing revenues (IFR) from NAL non-resident – even if paid by its Cdn. branch (p. 3) [I]nterest received from any non-arm’s length nonresident appears to be excluded from IFR. ...