Search - 广东省2025政府工作报告 一小发展 金句

7 April 2025- 11:23pm Total Energy – Federal Court of Appeal confirms that the use of losses of an insolvent public company by a SIFT trust was an abuse of s. 111(5) Email this Content In September 2007, a company (“Nexia”), which traded in loss companies, acquired all of non-voting common shares of an insolvent public corporation (“Biomerge”) (representing 80% of its equity) and 45% of its voting common shares. ... It was also immaterial that s. 256(7)(c)(i) (dealing specifically with a transaction of this type) was added only subsequently (“ Deans Knight … did not look at other provisions enacted after s. 111(5) in order to determine the object, spirit, and purpose of s. 111(5).” ... Canada, 2025 FCA 77 under s. 245(4). ...

6 March 2025- 10:49pm Brookfield Renewable Power – Quebec Court of Appeal confirms the reduction of the deductible interest on loss consolidation loans from 14% to 8.75% based on parent’s borrowing costs Email this Content Loss consolidation transactions between a “Lossco” in the Brookfield group (“BRPI”) and “Profitcos” resulted, for instance, in BRPI holding $2.3 billion of loans in its Profitco subsidiary, and the Profitco holding $2.3 billion of preferred shares of its parent until this reciprocal arrangement was reversed five months’ later. ... Instead, he favoured an approach based on the correct criterion, taking into account the particular nature of the transactions carried out … in the context of the consolidation of losses … and retaining, as an objective element … the financing costs incurred by the parent company and BRPI at the relevant time. ... Agence du revenu du Québec, 2025 QCCA 234 under s. 20(1)(c)(i). ...

16 July 2025- 12:11am Bosa – BCSC considers that it lacked the jurisdiction to consider a request to rectify a clause in a family trust indenture whose interpretation was at issue in an impending TCC appeal Email this Content The petitioners were the beneficiaries of a family trust, who sought to rectify the terms of the Trust Indenture to clarify that the assets of the trust had vested indefeasibly in them on the date defined in the Trust Indenture as the "Distribution Date," which occurred approximately 10 months before the 21st anniversary of the formation of the trust. ... Those arguments are the subject of the appeal to the Tax Court …. In further finding that, even if she had jurisdiction, rectification would not be appropriately granted, she stated, after referring to Collins Family Trust: I consider the declarations that are being sought … to be an attempt to avoid an unintended tax liability. ... Summary of Bosa v Canada, 2025 BCSC 1284 under General Concepts – Rectification. ...

9 March 2025- 11:18pm Morgan – Tax Court of Canada accepts that an application was mailed one month before its stamping as received by the CRA mailroom Email this Content Whether the taxpayer had timely filed his application for the Ontario component of the new housing rebate pursuant to ETA s. 256.21(1) for his newly-renovated home turned on when the substantial renovation had been “substantially completed” (which started the running pursuant to s. 46(6) of the New Harmonized Value Added Tax System Regulations of the two year period for filing the application) and on when the application was filed (which, pursuant to s. 334(1) was deemed to be the mailing date). ... Before allowing the taxpayers appeal, Yuan J stated: I have difficulty imagining what better evidence the CRA could reasonably expect an applicant to produce as proof of filing where the application was submitted by regular mail …. ... The King, 2025 TCC 36 under s. 46(6)(a) of the New Harmonized Value Added Tax System Regulations, No. 2. ...

17 June 2025- 11:07pm Fournier-Giguère – Federal Court of Appeal confirms that individuals deriving a sustained and significant income from full-time poker gambling were engaged in a business Email this Content The three taxpayers, who were friends, were reassessed to include income from their poker gambling (of the type Texas Hold’em without limit) for three to five taxation years (depending on the taxpayer, with none of the years a loss year), falling in the period 2008 to 2012, of $5,241,025 for Mr. ... Canada, 2025 CAF 112 under s. 40(2)(f) and s. 3(a) – business. ...

11 May 2025- 11:31pm Créations Guimel – Federal Court applies the principle that the CRA “obligation of fairness in reaching a decision under the VDP program is minimal” Email this Content In October 2022, which was more than three years after receiving the taxpayer’s VDP application for its 2008 to 2017 taxation years (which reported income generated from the investment of the proceeds from a 2007 European sale transaction), CRA requested that the taxpayer’s authorized representative provide documentation regarding the 2007 sale, including an amended 2007 T2 return. ... Minister of National Revenue, 2025 FC 814 under s. 220(3.2). ...

12 May 2025- 11:50pm Freedom Cannabis – Alberta Court of King’s Bench finds that it had the discretion under the CCAA to eliminate directors’ personal liability arising under a federal taxing statute Email this Content The only bid for the shares of assets of a company (“Freedom”), a cannabis-producer in CCAA proceedings, came from a secured creditor (JLL), which proposed that desired assets and contracts of Freedom would be retained and that there would be a vesting out of unwanted liabilities to a newly created company (ResidualCo.) ... Summary of Freedom Cannabis Inc (Re), 2025 ABKB 272 under ETA, s. 323(2). ...

19 March 2025- 11:20pm Csak – FCA confirms a s. 160 challenge on the basis that a TCC judgment of the transferor was incorrect, and confirms that a waiver time limit falling on a Sunday was extended Email this Content The taxpayer challenged assessments of her under s. 160(2) respecting unpaid tax of her late husband for his 1988 and 1989 taxation year by arguing that the CRA assessments of him for those years were statute-barred given that CRA had not received a waiver on a timely basis (which had been found by Owen J to be the case for his 1988 taxation year and, in the case of his 1989 taxation year, turned on the proposition that the receipt by CRA of a waiver on a Monday was one day following the expiry of the normal reassessment period on the Sunday). ... It provides relief when the time limit for doing a thing expires on a holiday, allowing the thing to be done on the next day that is not a holiday. … I am satisfied that the filing of a waiver is the “doing of a thing” for the purposes of section 26 …. … I do not view the time limited for filing a waiver as conceptually different for this purpose from the deadlines for filing a notice of objection or notice of appeal …. ... Csak, 2025 FCA 60 under s. 160(2), s. 152(4)(a)(ii) and General Concepts – Abuse of Process. ...

15 August 2025- 12:30am PepsiCo – High Court of Australia declines to recharacterize, as a royalty, FMV sales proceeds of concentrate paid to an Australian sub of PepsiCo, the trademark licensor Email this Content A U.S. company (“PepsiCo”) entered into an “exclusive bottling appointment” (“EBA”) with an arm’s-length Australian bottling company (“SAPL”). ... In concluding that the amounts paid by SAPL to PBS were not a royalty, the majority stated: The Commissioner did not dispute that [the concentrate price] was an arm's length price, or a fair price …. ... Summary of Commissioner of Taxation v PepsiCo Inc, [2025] HCA 30 under s. 212(1)(d). ...