Search - 江西农大 毛瑢

. … Nonetheless, the "acting in concert without separate interests" test described by the Exchequer Court has been adopted and applied in numerous subsequent decisions considering factual non-arm's length relationships. Significance of reference in English Act to arm’s length dealings (pp. 5-7) The wording of the factual NAL test in the Act is not whether two persons are arm's length with one another, but rather whether they deal at arm's length with one another. … The upshot of the above jurisprudence is that there appears to be an avenue still open to argue that while the relationship between the parties may not be an arm's length one, it is possible that they could deal at arm's length. ...

The IBT requirement that all shares (other than specified class shares) be divested within 36 months limits the time within which discretionary dividends can be paid to create income for AMT recovery purposes – and, furthermore, removing the gross-up and the dividend tax credit for AMT purposes makes dividends a less efficient means of recovering AMT. If the IBT sale occurs for deferred purchase price (debt), the 10-year reserve proposed by s. 40(1.2) may allow the parent to avoid AMT entirely if the gain is small enough – but for larger sales, utilizing the 10-year reserve may trigger AMT in multiple years, reducing the parent’s ability to recover AMT. ...

(a)) can be impracticable – at least 30 days should be allowed. Re para. ...

. … [A]s administered by CRA, an upstream loan must actually be repaid in order for Canco to claim a terminal subsection 90(14) deduction. ... The $100 loan receivable of FA1 would be distributed to FA2 on the year 3 liquidation. … [W]hile Canco has sold the FA1 shares and no longer has the $100 adjusted cost base attribute available, the subsection 90(9) deduction is based on the attributes available to Canco at the "lending time" in year 1. ... That $100 adjusted cost base has been relevant in determining Canco's capital gain or loss from its disposition of the FA1 shares, but that is appropriately not offside paragraph 90(9)(c). … Avoidance of double taxation (p. 5) [C]anco would be required by subsection 90(12) to include in income in year 3 its prior year 2 reserve claimed under subsection 90(9). ...

The beneficiary is deemed to have disposed of the capital interest for proceeds of $40 ($100 — $60). ... Consequently, the capital gain from the disposition of the capital interest is $20 ($40 — $20). 6. ... Consequently, the capital gain from the disposition of the capital interest is $80 ($100 — $20). ...

. … [T]he ordinary meaning of “arrangement or transaction” would seem to refer to: (i) a single act or instance of conducting business, or any activity involving two or more persons, or multiple acts, instances, or activities that are part of a pre-ordained series (i.e., a “transaction”); or (ii) a disposition of measures planned, drawn up, or ordered to accomplish a particular purpose (i.e., an “arrangement”). ... Implicit series of transactions concept unlikely to be informed by broad Canadian domestic concept (p. 5) [T]he SCC [in Copthorne] confirmed its prior holding in Canada Trustco that it is sufficient for a later transaction to have been completed “because of” or “in relation to” an earlier transaction in order to be considered part of the same series, regardless of whether the later transaction was ever even contemplated at the time of the earlier transaction. … [I]n light of the MLI’s stated harmonization purpose, it would be unreasonable, in our view, to read into the meaning of an “arrangement or transaction” for the PPT the extended domestic meaning of a series of transactions that will likely be inconsistent with the meaning of that expression in other MLI participating jurisdictions. ... Conclusion (p. 6) [W]hile the expression “arrangement or transaction” as used in the PPT is broad enough to include a series of transactions, for this purpose a “series” must be given its ordinary and natural meaning (i.e., pre-ordained or pre-ordered transactions that can be construed as a single composite transaction)…[and] the extended meaning of series under the ITA, as set out by the SCC …should not be relevant …. ...

Joint Committee, "Technical Amendments Package of September 16, 2016", Submission letter of 15 November 2016-- summary under Subsection 212.3(2) Summary Under Tax Topics- Income Tax Act- Section 212.3- Subsection 212.3(2) Expansion of s. 212.3(2)(a) to “other Canadian corporations” S. 212.3(2)(a) is being expanded to investments other than by a CRIC in its own FA – for example, where a US-resident individual owns USCo which owns CaSub, the FAD rules will apply where a CCPC owned by his Canadian brother invests in an FA of the CCPC. ...

Canada Trustco … [R]eaders should be cautioned that…[s]tructuring of the securitization is critical to ensure that a third party is not granted responsibility for servicing the financial assets sold to an SPE. ...

Vautier …. ...

See… 2017-0709811I7 ….] ...