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As to the meaning of “hedging,” he quoted (at para. 33) the statement in Echo Mines that under generally accepted accounting principles, a producer’s gain or loss from its execution of forward sales contracts may be considered a “hedge” and therefore matched against the production of the goods produced, if four conditions are met.... 1. ...

., [1968] S.C.R. 140, [1968] CTC 44, 68 DTC 5001-- summary under Similar Statutes/ in pari materia Summary Under Tax Topics- Statutory Interpretation- Similar Statutes/ in pari materia Customs Tariff legislation was in pari materia to the Excise Tax Act After finding that marble slabs which were cut, reinforced and finished (through rough and fine polishing) were “goods produced or manufactured in Canada” within the meaning of s. 30(1)(a) of the Excise Tax Act, R.S.C. 1952, Spence J found that this view was confirmed by Schedule III to the Excise Tax Act, which referred to the production of cut flowers, straw, raw furs and wool not further prepared than washed, and by two Customs Tariff items, one of which referred to “marble, not further manufactured than sawn,” stating (at pp. 148-9, SCR): In at least two recent decisions, the Court has considered the schedules to the Customs Act as being a revenue statute in pari materia and therefore an aid in the interpretation of words in the Excise Tax Act. ...

In addressing Ontario’s argument “that the fuel and excess emission charges imposed by the GGPPA do not have a sufficient nexus with the regulatory scheme to be considered constitutionally valid regulatory charges” (para. 212), the majority first noted that “[t]o be a regulatory charge, as opposed to a tax, a governmental levy with the characteristics of a tax must be connected to a regulatory scheme” (para. 213), and then found (at para. 216) that to establish such nexus, there was no requirement that “the revenues that are collected be used to further the purposes of the regulatory scheme,” and that: Where, as in the instant case, the charge itself is a regulatory mechanism that promotes compliance with the scheme or furthers its objective, the nexus between the scheme and the levy inheres in the charge itself. ...

., 2021 SCC 49, [2021] 3 S.C.R. 590-- summary under Article 4 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 4 a company resident under Luxembourg domestic law (its legal seat was there), and that was “liable to be liable to tax,” was resident there for Treaty purposes even though a conduit In considering whether there had been a treaty-shopping abuse of the Canada-Luxembourg Treaty by virtue of the taxpayer, which had its legal seat in Luxembourg, but was a “conduit entity” without a substantial economic connection to Luxembourg, accessing a Treaty exemption for a capital gain on its disposition of a Canadian resource company, Côté J stated (at paras. 53-54-56, 58): [T[he use of the word “means” in this provision indicates that the definition should be “construed as comprehending that which is specifically described or defined” and thus as setting out all requirements that must be met to be considered a resident under the Treaty …. ...

Wagner and Gason JJ. stated (at paras 17, 19 & 20): Solicitor-client privilege has evolved from being treated as a mere evidentiary rule to being considered a rule of substance and, now, a principle of fundamental justice… …[F]acts connected with that relationship (such as the bills of account at issue in Maranda [2003 SCC 67, [2003] 3 S.C.R. 193 at paras. 33-34]) must be presumed to be privileged absent evidence to the contrary…. ...

Côté J, for the majority, considered this to be contrary to a proper appreciation of the nature of the bargain that Canada had struck under the Treaty. ...

She failed to justify her interpretation of s. 3(2) (a) in light of the constraints imposed by s. 3 considered as a whole, by international treaties that inform its purpose, by the jurisprudence on the interpretation of s. 3(2) (a), and by the potential consequences of her interpretation. ...