Search - 江苏苏美达轻纺国际贸易有限公司 关税政策 最新动态

18 July 2016- 11:31pm Rio Tinto Alcan – Tax Court of Canada finds that investment dealer fees incurred respecting the advisability of making hostile takeover were fully deductible under s. 9 and 20(1)(bb) – and $17M in legal fees were deductible under s. 20(1)(cc) Email this Content Hogan J articulated a distinction between (currently deductible) “expenses linked to [board] oversight [,which] are current expenses since they relate to the management of the process of producing income of the corporation,” and (capital-account) “expenses incurred in the course of implementing a transaction leading to the acquisition of capital property.” ... The alternative deductibility of these same fees under s. 20(1)(bb) was based on the proposition that the butterfly mechanics entailed the sale (on a rollover basis) of the shares of the Opco in question to the new public company (Novelis) in consideration for the acquisition of (subsequently redeemed) preferred shares of Novelis – so that the fees related to advice culminating in the sale or purchase of shares, as required by s. 20(1)(bb). ... The Queen, 2016 CCI 172 under s. 18(1)(a) – legal fees, s. 20(1)(g), s. 20(1)(bb), s. 20(1)(cc) and s. 14(5) – eligible capital expenditure. ...

7 October 2024- 12:11am RBC – Tax Court of Canada finds that foreign interchange fees earned by RBC were zero-rated – entitling it to ITCs on a portion of its interchange expenses, but not on loyalty point costs Email this Content When cardholders of RBC credit cards used their cards for purchases from a foreign merchant, RBC would earn an “interchange fee” from the foreign bank of the foreign merchant for accepting the charge. ... IX, s. 1 by virtue of the exclusion in para. 1(a) thereof for a “service [that] relates to (a) a debt that arises from … (ii) the lending of money that is primarily for use in Canada”. ... The King, 2024 TCC 125 under ETA s. 301(1.2)(a), s. 141.02(21), s. 141.02(31)(f), s. 141.02(1) – direct input, s. 123(1) – recipient, Sched. ...

20 August 2014- 11:05am Bekesinski – Tax Court of Canada finds that a director who likely backdated his resignation should prevail – in part, because the Crown did not plead the backdating Email this Content Campbell J granted the taxpayer’s appeal from a director’s liability assessment under s. 227.1 on the basis that he had resigned more than two years previously, notwithstanding that, "in all likelihood, the Appellant backdated the Resignation. ... The Queen, 2014 TCC 245 under General Concepts – Onus and s. 227.1(4). ...

3 March 2022- 11:53pm Yao – Tax Court of Canada excludes an “expert report” of an immigration lawyer – but admits reports of sociology and psychology professors Email this Content In the context of a challenge under s. 15 of the Charter to the denial of child tax benefits to refugee claimants, Bocock J admitted, as expert reports, two reports of a sociology and psychology professor; on the basis that they could be helpful to the Court in determining whether the refugees were a relevantly disadvantaged group. ... The Queen, 2022 TCC 23 under General Concepts – Evidence. ...

12 December 2016- 11:39pm Loupy’s – Tax Court of Canada confirms that a backdated GST registration has retroactive effect – and that winding-down operations qualified a de-registrant as a “registrant” Email this Content When the operator of a restaurant ceased operations due to a termination of its lease, it applied for and was granted a revocation of its GST and QST registrations. ... Favreau J found that, notwithstanding the revocation of its revocation, the taxpayer was still a “registrant” – whose definition includes a “person who is required to be registered”- given that it still held equipment which it was seeking to sell (some of which it sold eight months’ later). ...

19 July 2017- 11:01pm Montminy – Federal Court of Appeal finds that employees enjoyed the ½ deduction on exercising their stock options notwithstanding an immediate sale of the acquired shares to the controlling shareholder Email this Content When a third-party purchaser agreed to acquire all the assets of Opco, the management employees agreed with the 100% shareholder of Opco (“Holdco”) that on the asset sale closing date, they would exercise their options to acquire common shares of Opco and immediately sell their newly-acquired shares to Holdco for an agreed cash sale price. ... He also found that providing the ½ deduction under s. 110(1)(d) to the taxpayers accorded with the broader context of the stock option rules. ...

4 October 2015- 1:47pm Birchcliff – Tax Court of Canada finds that using a diverted private placement to avoid an acquisition of control of a lossco was abusive – and that the private placement was an avoidance transaction notwithstanding its “overarching” non-tax purpose Email this Content A newly-launched public corporation ("Birchcliff") accessed the losses of a lossco ("Veracel") in order to shelter the profits from producing oil and gas properties which it was acquiring. ... The Queen, 2015 TCC 232 under s. 245(4), s. 245(3), s. 111(5)(a) and General Concepts – sham. ...

22 January 2019- 12:17am BH Parkway – Tax Court of Canada finds that a statutory penalty received by a landlord from a defaulted tenant was exempt from HST – and that a Mercedes SUV was not capped at $30K Email this Content A tenant (Trillium College) of a commercial landlord (BH Parkway) vacated the premises in breach of the terms of the lease. ... On this basis, it was not an “automobile,” whose ITA definition (applicable also for ETA purposes), excluded a “van or pick-up truck, or a similar vehicle” (interpreted by CRA to include an SUV) “the use of which … is all or substantially all for the transportation of goods, equipment or passengers in the course of gaining or producing income.” ...

24 January 2022- 11:21pm Robillard Estate – Tax Court of Canada finds that MacDonald established that s. 84(2) applied to a speedo pipeline – but doubts MacDonald’s correctness Email this Content An estate engaged in accelerated pipeline transactions in which it transferred shares (stepped up under s. 70(5)) of a portfolio company (“Holdco”) to a Newco in consideration for a note, with Holdco being wound up into Newco a day later – and with the note being repaid by Newco to the estate about three weeks later. ...

6 January 2019- 11:31pm Ihama-Anthony – Tax Court of Canada indicates that an objection can be made after the proposal letter and before the notice of reassessment – but must state “I object” Email this Content Sommerfeldt J found that a fax sent by the taxpayer to CRA could have qualified as notices of objection even though it may have been sent before the issuance of the notices of reassessment in question, stating: Like Justice Woods in Persaud, I am of the view that a notice of objection prepared in response to a proposal letter, which informs a taxpayer that a reassessment is about to be issued, may, if validly served on a Chief of Appeals, constitute a valid notice of objection in respect of the reassessment when it is subsequently issued. ...