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. … Under Article 5(2)(i) of the DTAA, the relevant consideration is the continuity of business presence in aggregate – not the length of stay of each individual employee. ...

Maple Leaf), so that where an amount is received which both parties agree is only an estimate of an amount which will not be established until later, it is only income when they agree on the consideration- or the case may simply be wrong as the Crown did not argue s. 12(1)(a). ...

The stated capital of the special butterfly shares subsequently was reduced to an amount corresponding to that of the preferred shares issued by Spinco to DC in consideration for acquiring Subco 1. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2017-03-29 20 February 2017 External T.I. 2014-0534341E5 F- Partnership change of fiscal period Income Tax Act- Section 249.1- Subsection 249.1(7) requirement for serious commercial reason for change in non-calendar year end Income Tax Act- Section 249.1- Subsection 249.1(4) a partnership of individuals can change with CRA’s permission to a different non-calendar year end 2015-05-20 4 May 2015 External T.I. 2013-0502761E5 F- Stock Options and Earnout General Concepts- Fair Market Value- Shares FMV of shares at time of stock option exercise determined by valuing earn-out clause in subsequent sales agreement Income Tax Act- Section 7- Subsection 7(1)- Paragraph 7(1)(a) FMV of shares at time of stock option exercise determined by valuing earn-out clause in subsequent sales agreement 14 April 2015 External T.I. 2015-0570021E5 F- Présomption de gain en capital Income Tax Act- Section 55- Subsection 55(3)- Paragraph 55(3)(a) application of safe harbour where holdco interposed before spin-off transaction Income Tax Act- Section 55- Subsection 55(3.01)- Paragraph 55(3.01)(g) application of safe harbour where holdco interposed before spin-off transaction 21 November 2014 External T.I. 2014-0536771E5 F- Supplément pour frais médicaux – Revenu modifié Income Tax Act- Section 122.6- Cohabiting Spouse or Common-Law Partner surviving spouse is not living separate and apart from deceased spouse at year end 2015-05-13 2 April 2015 External T.I. 2015-0571501E5 F- Perte sur certains transferts Income Tax Act- Section 13- Subsection 13(21.2) CCA claims made on hypothetical property while partnership is deemed to exist by s. 13(21.2)(f) 2015-04-29 13 April 2015 External T.I. 2012-0449141E5 F- Usufruct Income Tax Act- Section 75- Subsection 75(2) 75(2) applies to termination of usufruct Income Tax Act- 101-110- Section 107- Subsection 107(2.1) 107(2.1) application to termination of usufruct created for valuable consideration Income Tax Act- Section 248- Subsection 248(3) application of trust provisions to creation of usufruct 11 February 2015 External T.I. 2014-0550871E5 F- RAP situation particulière Income Tax Act- Section 146.01- Subsection 146.01(1)- Regular Eligible Amount- Paragraph (b) interest in home passing on an intestacy and through gift could qualify ...

30 April 2017- 12:41pm Formula One- Supreme Court of India finds that a UK company with operational control over annually-recurring 3-day Grand Prix races in India had a PE (the racing circuit of a local company) Email this Content A UK corporation ("FOWC"), which held the worldwide rights to commercially exploit the Formula One World (car-racing) Championships, agreed with an Indian corporation (“Jaypee”) that, in consideration of US$40 million payable by Jaypee, Jaypee would host, stage and promote the Formula One Grand Prix event at a racing circuit in India to be constructed by it. ...

Bundle Date Translated severed letter Summaries under Summary descriptor 2017-09-06 28 October 2016 External T.I. 2016-0654331E5 F- Transfer of rights to income Income Tax Act- Section 9- Nature of Income where rental lands purchased subject to obligation to pay the rents to vendor, rents did not have quality of income to purchaser under s. 9 Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Incurring of Expense where rental lands purchased subject to obligation to pay the rents to vendor, no income inclusion and deduction of the rents by the purchaser under ss. 9 and 18(1)(a) Income Tax Act- Section 56- Subsection 56(4) where rental lands purchased subject to obligation to pay the rents to NAL vendor, s. 56(4) trumps s. 9 to include rents in purchaser’s income Income Tax Act- Section 56- Subsection 56(2) s. 56(2) could apply to shareholder of purchaser of lands if vendor did not pay FMV consideration for retaining rights to rents 2014-08-20 7 July 2014 External T.I. 2014-0518561E5 F- Superficial loss Income Tax Act- Section 54- Superficial Loss shares of Holdco as identical property to shares of Opco/transferred corporation wound-up but not dissolved within 30 days Income Tax Act- Section 88- Subsection 88(1) transferred corporation wound-up but not dissolved within 30 days 27 June 2014 External T.I. 2013-0500701E5 F- Déductibilité de certaines dépenses Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Income-Producing Purpose distinction between principal and secondary reason for incurring expense 2014-08-13 27 June 2014 External T.I. 2013-0498191E5 F- Interaction entre 55(2) et l'impôt de partie IV Income Tax Act- Section 186- Subsection 186(1)- Paragraph 186(1)(b) Part IV tax on cross-redemptions takes into account the Part I tax (and RDTOH addition) generated by s. 55(2) application thereto Income Tax Act- Section 55- Subsection 55(2) s. 55(2) tax on cross-redemption deemed dividends between connected CCPCs gave rise to circular Part IV tax 2 July 2014 External T.I. 2014-0529731E5 F- Stop-loss Rules Income Tax Act- Section 40- Subsection 40(3.4) taxpayer able to designate sourcing of disposed-of shares/illustration of application of CRA formula 2014-07-30 9 July 2014 External T.I. 2014-0527591E5 F- Résidence principale Income Tax Act- Section 54- Principal Residence- Paragraph (a) housing unit rented to son and unrelated roommate potentially could qualify as principal residence ...

An inter vivos example is where Bob sells the shares of Opco (having a FMV of $6 million and nominal PUC and ACB) directly to his children, and receives a $6 million promissory note as consideration. ...

18 October 2017- 1:13am Plains Midstream – Tax Court of Canada finds that s. 16(1) operates symmetrically (no creditor interest – no debtor interest deduction) Email this Content To over-simplify somewhat, Amoco agreed to assume a $225M loan that was due in perhaps 43-years’ time and that was effectively non-interest-bearing (or more precisely, only bore interest to the extent of oil production from the Beaufort Sea) in consideration inter alia for the payment to it of $17.5 million by the debtor. ...

26 November 2017- 11:19pm CRA indicates that it will not extend its policy on set-off of unequal redemption notes beyond a butterfly reorg Email this Content As described in 2015-0601441R3, a partnership was wound-up under s. 98(5) by one partner (Sub2) transferring its partnership interest under s. 85(1) to the other partner (Sub2) for consideration including Sub1 Preferred Shares. ...

(This may have occurred because the transactions under consideration were completed before the rulings were ultimately given.) ...