Search - considered

Sommerfeldt J stated that he considered that this statement had been made to him in order to persuade him at the time to not to strike out the other Crown pleadings at issue. ...

Furthermore, it did not consider the changed method to be acceptable even on a prospective basis, stating that it could be considered that the financial institution: recognized that a portion of the technology package provided to [subcontractors] was related to its own business when it agreed to share the costs with [the subcontractors] instead of fully billing [the subcontractors] for the cost of the technology inputs. ...

Second, although the spreadsheet had some aspects of a tax accrual working paper (“TAWP”) as considered in BP, there the “FCA’s caution was against imposing an obligation to self-audit”, whereas here “[u]nlike BP, the concerns arising from the tax year under audit have not been addressed … [and] the Minister has not sought access to the [spreadsheet] (whether or not it is a TAWP) without advancing a particular justification.” ...

Thus if the subsequent purchaser was a third party who dealt at arm’s length with the taxpayer or (to return to the example above) was the taxpayer himself, so that s. 84.1 could not have applied to such a purchaser, s. 84.1 will be considered not to have applied to the disposition by the taxpayer to the child or grandchild corporation. ...

., it lacked covenants of LLC5 and BGI to ensure the flow of dividends from LLC5 to service the loan), the Tribunal stated: Third-party covenants that were not given as part of or in support of the actual transaction cannot be considered to be part of the hypothetical transaction as this materially changes the surrounding circumstances and alters the economically relevant characteristics of the transactions in question. … [A]n independent lender would not have made a $4 billion loan to LLC5 without such covenants being in place and that important finding should itself have determined that there was no comparable arm’s length transaction. ...

The lower relief for the 2014 application was considered by CRA to reflect the application to those applicants of the prohibition, after a 2005 amendment to s. 220(3.1), to going back more than 10 years with interest relief. ...

Conversely, it considered that the above alterations to the Shells could not qualify under Class 8(b), stating: Generally, property is not acquired solely for supporting machinery or equipment and/or to manufacturing or processing for the purposes of paragraph (b) of Class 8 if it is necessary for the proper functioning of the building, such as the walls, roof and electricity of or for a building. … Neal Armstrong. ...

CRA considered that ACo could not effectively extend the normal reassessment period pursuant to a request by it to extend the s. 150(1) filing deadline for its 2011 to 2013 returns under s. 220(3). ...

Also under the excluded interest definition, the test of the total fair market value of all property of a foreign affiliate of the taxpayer or of an eligible group entity in respect of the taxpayer not exceeding $5 million applies irrespective of whether the taxpayer has a 10% interest or 100% interest in the foreign affiliate – and even an insignificant interest in a special class of shares causing a non-resident corporation to be a foreign affiliate, would require the fair market value of its property to be considered in applying the $5 million threshold. ...

The extension of the definition of an “owner” (which otherwise essentially refers to a registered owner) to a person who “could reasonably be considered to be an owner” does not include the beneficiaries of a trust, but could apply, based on the wording of a deed in a province using a deed-registration, rather than land titles, system. ...