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It should be clarified that there would not be considered to be a hybrid mismatch if, for example, a taxpayer borrows money at interest from a third party for the purpose of making an interest-bearing loan to a foreign subsidiary, i.e., the fact that the interest on this borrowing “shelters” the Canadian interest income should not be considered to give rise to a non-inclusion situation. ...

Rather than refundable taxes only being included in income when received, CRA now considers that the portion of refundable taxes that will be reimbursed due to a payment of a dividend before the end of the taxation year will be considered to be a reduction of such taxes paid or accrued (so that the potential safe income is reduced only by the net amount). When a corporation realizes the accrued gain, on a property that it had acquired on a rollover basis in consideration for preferred shares, on disposing of that property, that gain is now considered to contribute to the gain on those preferred shares, so that such gain is to be included in the safe income of the preferred shares. ...

If this was not a structured arrangement (which would entail it being reasonably considered that a portion of the economic benefit arising from the D/NI mismatch is reflected in the pricing of the transaction giving rise to a D/NI mismatch, or the transaction or series was otherwise designed to give rise to the D/NI mismatch), then it would not be considered a hybrid financial instrument arrangement and would not be caught by the first package. ...

Bocock J managed to conclude that because its intended use of the phones was contrary to Apple’s sale terms, the grey marketer lacked the "legal capacity" to purchase the phones – so that the buyers could not be considered to have purchased the phones as its agents. ...

Consequently, a beneficiary who is part of a class of persons described in the instrument under which the testamentary trust has been established, such as children or descendants of the deceased individual, as well as a beneficiary who is not yet born, would not be considered as a named beneficiary. ...

When this transaction was presented to it in a ruling request, the GAAR Committee observed that the new trust technically would start afresh under the 21-year deemed realization rule, and considered that it inappropriately circumvented this rule, which works hand in hand with the s. 70 rule for deemed realizations on death, to prevent indefinite deferrals of capital gains. ...

4 December 2016- 11:25pm CRA considers that the bearing of RRSP or TFSA fees by the annuitant or holder typically will be subject to the 100% advantage tax, effective 2018 Email this Content CRA considers that the payment of fees for investment management of an RRSP, RRIF or TFSA by the plan annuitant or holder typically will be considered to be an “advantage” for Part XI.01 purposes (i.e., giving rise to a tax equal to 100% of the fee amount). ...

Where the matter instead has not been previously considered by the GAAR Committee, the TSO will refer the matter to Headquarters prior to issuing of the proposal letter – so that it would generally only issue a proposal letter if Headquarters recommends GAAR’s application. ...

In such cases distributions to residual beneficiaries could not be considered to be income payable to a beneficiary for purposes of subsections 104(6) and 104(13). ...

Knowhow might be considered to have been disposed of only if the transferor can no longer avail itself of the knowledge in question—for example, where it sells the business to which the knowledge relates. ...