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. … The CRA's position is that the real estate corporation should limit its proportion of activities with respect to the real estate property to its proportion of co-ownership of the property. ... The parties would then lease the real estate property to a leasing corporation which would be responsible for leasing the property to various tenants. … Another common issue arises where a real estate corporation acquires a real estate property on which a hotel or similar business operates. In these cases, there may be a concern that the real estate corporation is performing activities in relation to the property that are not those activities listed in clause 149(1)(o.2)(ii)(A). … [Based on] IT-73R6…[i]n the context of clause 149(1)(o.2)(ii)(A), it could thus be argued that a real estate corporation that acquires a property on which a hotel or similar business is being operated is providing services in relation to that property and is not be holding, maintaining, improving, leasing or managing the property. ...

Then, section 247(2.1)(b) would adjust the interest … for all relevant purposes Facts of Example 2 in Finance Notes (p. 703) Example 2 considers the interaction between sections 247 and 17 ITA with a scenario in which a corporation resident in Canada has a C $100 loan receivable from a non-arm’s-length non-resident corporation that is not a controlled foreign affiliate of the Canadian corporation. ... Anomalous application of s. 247(2.1) where arm’s length purchase price by Canco exceeds the property’s FMV (p.704) Consider a Canadian corporation that acquires property from a foreign parent at the cost of C $100 when its FMV within the meaning of section 69(1) ITA is C $95, and its arm’s-length price within the meaning of section 247 is only C $90. … And what are results if the FMV is C $100 but the arm’s-length price is C $105? ... When the third step in section 247(2.1) is applied, the C $105 price is subject to section 69(1), which would seem to reduce the price for tax purposes to C $100 — which is not the true arm’s-length price. ...

PL 111-152 § 1402, 03/30/2010.] …The tax is calculated as 3.8% of a U.S. person's net investment income [Note 4: IRC § 1411(a)(1)] to the extent the person's modified adjusted gross income is above the following thresholds [not reproduced].... ... [Note 38: ITA subsection 126(7) "non-business income tax" – paragraph (d).] ... [Note 49: Meyer, 2004 DTC 2393 (T.C.C. – Informal Procedure)] Furthermore, where a U.S. citizen is taxable but an NRA would not be on the same type of income, Canada is not required to provide an FTC. ...

On the liquidation of CFA 2, CFA 2's shares in CFA 3 are deemed to be disposed of for proceeds equal to $200 (paragraph 88(3)(1)). without a subsection 88(3.3) election, Canco 1 would realize a gain of $100 – proceeds of $200 less ACB of $100 (paragraph 88(3)(d)). ... This would fall afoul of paragraph 88(3.4)(b) and cause Canco 1 to realize a gain of $99 (proceeds of $200 – ACB of $101) rather than the desired deferral. ...

[fn 115: … 9703535…] Accordingly, no deduction will be available under paragraph 113(l)(b) in respect of distributions paid out of the LLC's taxable surplus. ... [fn 116: … 9703535…9821495… 2013-0480321C6 [above]…] …[A] timing issue remains in this latter context if the LLC is a controlled foreign affiliate and is not able to distribute all of its income each year, as the applicable share of the LLC's FAPI will be required to be included in the member's income in the taxation year in which it is received, without an offsetting deduction for FAT. ...

LLLP and LLP characteristics basically reflect those of an LP, except that the general LLLP or LLP partner also has limited liability exposure: the liability of a general partner and of a limited partner involved in the business's control is limited to the amount of the partner's capital investment in the partnership – unless the liability resulted from the partner's malfeasance. A Florida LP can become an LLLP simply be filing a short form and paying a small fee. … An LLLP and LLP offer liability protection similar to that of a traditional limited partnership that uses a shell corporation to hold a nominal general partnership interest. ...

Govindadeva Bernier, Tim Scholz, "Income Sprinkling Using Private Corporations", Office of the Parliamentary Budget Officer (with thanks to “Finance Canada officials for their helpful technical discussions”), 8 March 2018-- summary under Paragraph (b) Summary Under Tax Topics- Income Tax Act- Section 120.4- Subsection 120.4(1)- Reasonable Return- Paragraph (b) Preferred scenario assumes that all spouses aged over 24 are earning a reasonable return (pp. 1-2) The Parliamentary Budget Officer (PBO) … computed possible revenue outcomes for the government based on three different scenarios. ... This is our preferred scenario. … ...

Holdco is not … a small business corporation. One of the main purposes of the transaction is to reduce the income of Mr. ... X then exchanges his $15 million of class A preferred shares of Holdco for $3 million of class B preferred shares of Holdco pursuant to section 86 ("the second transfer ")…. ...

Peter Lee, Paul Stepak, "PE Investments in Canadian Companies", draft 2017 CTF Annual Conference paper-- summary under Paragraph 212.3(1)(b) Summary Under Tax Topics- Income Tax Act- Section 212.3- Subsection 212.3(1)- Paragraph 212.3(1)(b) No s. 245(4) abuse where use of a Canadian GP to avoid FAD rules (pp. 15, 16) [T]he purpose of the FAD rules is to deter foreign multi-nationals from … benefiting economically by stuffing non-Canadian operating companies under Canada in circumstances where it otherwise would make little or no sense to do so. That harm is quite distant from a PE fund looking to buy a Canadian-owned or public Canadian multinational and then continue to run the business. … [T]here are [thus] good policy reasons why the FAD rules should not apply to PE funds that are direct owners of Canadian portfolio companies. ...

Kirby, "Vendor Planning for Private Corporations: Select Issues", 2017 Conference Report, (Canadian Tax Foundation), 11:1-28-- summary under Subsection 129(1) Summary Under Tax Topics- Income Tax Act- Section 129- Subsection 129(1) Potential generation of dividend refund with s. 84.1(1) dividend (p. 11:23) [T] he 2002 technical interpretation discussed above … stated that the technical requirements for triggering a refund of RDTPH are not met when the dividend is deemed to have been paid pursuant to section 84.1… It may be credibly argued that the only sensible result is that a deemed dividend arising under section 84.1 should give rise to the recovery of RDTOH because a dividend cannot be paid except on a class of shares, because the person receiving a dividend is a shareholder, and because the right to receive dividends is attached to a share…. The individual will own shares of Newco when the dividend arises, and therefore it could be argued that the deemed dividend under section 84.1 should be considered to be paid on these shares. … In common parlance, a “dividend” is considered to be a distribution of corporate profits to its shareholders, and therefore it could be argued that in order for a deemed or fictitious dividend to arise, there must be deemed or fictitious shares on which the dividend is paid. ...