Search - 水晶光电 行业地位 发展趋势

FQM – Ontario Court of Appeal finds that the denial of loss carryforwards of the target was covered by an indemnity clause for reasonably foreseeable loss Email this Content Under the share purchase agreement (“SPA”) for the purchase of a Finnish mining company (Kevitsa) by Boliden from FQM, FQM represented inter alia that “[t]here are no grounds for the reassessment of the Taxes of [Kevitsa and its subsidiary].” ... The Court found that the application judge- who had noted the contrast between the above representation, and other representations and warranties in the SPA which were limited to the knowledge of the sellers – had reasonably concluded that such representation could be untrue as of the time of closing even if the prospect of reassessment was not reasonably expected by FQM. ... FQM Kevitsa Sweden Holdings AB, 2023 ONCA 105 under General Concepts – Tax Indemnity. ...

20 March 2023- 11:15pm Goldhar – Tax Court of Canada finds that the taxpayer could rely on his accountants regarding his taxation years being statute-barred and avoiding penalties for T1134 filing failures Email this Content In finding that CRA could not reassess beyond the normal reassessment period to include substantial amounts as alleged unreported shareholder benefits from non-resident corporations in the income of the taxpayer (Mr. ... Goldhar carried on an international business, and engaged professional lawyers and accountants to assist in organizing his financial affairs and in filing his personal and corporate tax returns. … Considering the complexity of Mr. Goldhar’s businesses and his lack of tax expertise, it is my view that he took all reasonable steps that a wise and prudent person would to ensure that his tax returns were filed properly during the taxation years under appeal. … Mr. ...

17 July 2023- 11:56pm Marine Atlantic – Tax Court of Canada finds that a registrant is not required to expand the information already in its possession in using an ITC allocation method Email this Content The appellant (MAI), which operated a ferry service between Newfoundland and Nova Scotia, allocated all its inputs between the taxable and exempt supplies made by it (nearly all of which were made on the vessels) by measuring the areas on its ferries used exclusively in making taxable supplies (including the provisions of passenger cabins, and restaurant and dining facilities) and those used exclusively in making exempt supplies (the general seating areas and vehicle passenger decks) to determine relative percentages for those two categories of use, and then treating those percentages as also being applicable to the use of the common areas on the ferries (including corridors, walkways, stairways, public washrooms, the exterior deck, crew cabins, the engine room and navigation facilities), and to the terminal and corporate office areas and the use of fuel. ... The CRA cannot simply substitute its method for that of the GST registrant. … [A] GST registrant should be entitled to determine its input tax credits on the basis of information in its possession without having to resort to hiring expensive third parties, such as valuators or, as I will discuss, engineers to measure spaces on its ships or experts to try to determine what percentage of fuel is consumed to propel a ship and what percentage is consumed to produce electricity, heat or hot water. … He also noted that the taxpayer’s method appeared to be better than the output-based method used by it in earlier reporting periods and accepted by CRA. ...

30 July 2023- 11:40pm Sindhi – Tax Court of Canada finds that a residence was not “occupied” notwithstanding weekly overnight stays Email this Content The appellant agreed in July 2016 to purchase a new home for $413,847, but by the time of the closing in March 2018, he had lost his source of employment income and broken up with his partner. ... He accepted the “frustrating event” doctrine, but stated: 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 …. ... The King, 2023 TCC 102 (Informal Procedure) under ETA s. 254(2)(g) and Statutory Interpretation – Consistency. ...

20 August 2023- 10:32pm 632738 Alberta – Tax Court of Canada confirms the refusal of a company to not disclose its reasons for engaging in transactions on grounds of privilege Email this Content The taxpayer was assessed under s. 103(1). ... He then stated: Although I will not issue an order that would require the Appellant, in response to any of the Disputed Questions, to disclose information that is subject to solicitor-client privilege, I will note that … unless the Appellant furnishes the information in writing to the Respondent no later than ten days after this Appeal is set down for trial, the Appellant will require leave of the trial judge [under Rule 96(1)], in order to introduce that information at trial. ... The King, 2023 TCC 117 under General Concepts – Solicitor-client privilege, Purpose/intention. ...

4 December 2023- 11:14pm MMV Capital – Federal Court of Appeal applies Deans Knight regarding acquiring an approximate 100% interest in a Lossco with no change of de jure control Email this Content A venture capital corporation (MMV) acquired 49% of the voting common shares of the respondent while in interim bankruptcy proceedings and subscribed $1,000 for a large number of non-voting common shares giving it over 99.8% of all the common share equity. ... In applying Deans Knight to reverse the Tax Court finding that there was no abuse of s. 111(5), Monaghan JA stated: The object, spirit and purpose of subsection 111(5) – its rationale – is “to prevent corporations from being acquired by unrelated parties in order to deduct their unused losses against income from another business for the benefit of new shareholders”. ...

14 March 2024- 11:00pm Suncor Energy – Tax Court of Canada finds that a s. 13(31)(a) deemed property acquisition by an LP did not accord it a corresponding deemed taxation year under the 2-year rolling start rule Email this Content Suncor acquired a Class 41 property in January 2005, then on January 1, 2006 transferred it on a s. 97(2) rollover basis to a limited partnership (the “LP”) of which it was the 99.9% general partner and whose first taxation year extended from February 1, 2005 to January 31, 2006 and second taxation year ended on January 31, 2007 (the “2007 taxation year”). ... However, that is all it does …. There is nothing in the wording of subsection 13(31) that creates the fiction of the Limited Partnership having a year-end prior to February 1, 2005 …. ...

23 June 2024- 11:42pm Active Asset Management – Tax Court of Canada finds that issuing promissory notes in satisfaction of dividends in kind does not entail a transfer of property Email this Content AAM, which wholly-owned a private corporation (Bakorp), resolved to increase the stated capital of one of the two classes of shares held by it by $35 million (resulting in a deemed dividend in that amount) and, on the same day, received two promissory notes aggregating $77.6 million in satisfaction of dividends declared on that date on both classes of shares. In finding that none of these dividends constituted a transfer of property by Bakorp to AAM, so that s. 160(1) did not apply regarding an unpaid tax debt of Bakorp, Bocock J first stated, regarding the stated capital increase: AAM can now say its shares reflect a different stated value, but not a penny has been received by it as a consequence of the deemed dividend. … [T]he mischief targeted by s.160, avoidance of payment of a tax debt to the Crown, has also not occurred. The “funds” available to Bakorp have not changed in the slightest. …. ...

25 February 2025- 11:26pm Evans – Ontario Superior Court grants an order rectifying a trust allocation resolution so as to set out specific amounts Email this Content After a discretionary family trust realized a capital gain from a share sale, the sole trustee passed a resolution in that year providing that “[t]he income of the Trust be allocated to the [three stated] Beneficiaries of the Trust payable by way of demand Promissory Note in such amounts to be determined when the income of the Trust is ascertained ….” ... Attorney General of Canada, 2024 ONSC 1955 under General Concepts – Rectification. ...

1 May 2025- 3:08am Methanex – Privy Council confirms that a Barbados IBC was a resident of Barbados for general treaty purposes Email this Content Methanex Trinidad paid U.S.$85.4 million in dividends to its Barbados parent (Methanex Barbados), which promptly paid dividends to its Cayman parent which, in turn, promptly paid dividends to the ultimate Canadian parent (Methanex Canada). ... Summary of Methanex Trinidad (Titan) Unlimited v The Board of Inland Revenue (Trinidad and Tobago) [2025] UKPC 20 under Treaties – Income Tax Conventions – Art. 10. ...