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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. ...

Turning to the neglect or carelessness branch of s. 152(4)(a)(i), he stated: [T]he Appellants did not seek an independent valuation and cannot be said to have thoughtfully, deliberately and carefully considered whether the proposed IPO would affect the share price. ...

The Court further found no reversible error in the application inter alia of the following factors to conclude that Boeckh was a trader or dealer: A qualified investment professional (an experienced CFA) devoted himself full-time to managing Boeckh’s portfolio; The portfolio had what was considered to be a high turnover (of around 30%) and there was a high absolute number of transactions. ...

Given that customer is acquiring an improvement to their property in the form of the deck which is a tangible improvement affixed to the customer’s property, to the extent that the revenues reflect the provision of the materials, they are considered a non-service component provided together with, as opposed to incidental to, the services. ...

Each member of a partnership has a permanent establishment where the partnership has PEs, and the gross revenue and salaries and wages of the partnership for a taxation year are considered to be allocated under Reg. 402(6) based on the respective corporate partners’ shares of the partnership income for that year. ...

Reg. 5907(1.4) will deny the amount prescribed to be FAT of Holdco under Reg. 5907(1.3)(b) to the extent it relates to the Compensatory Payment made to Loss LLC 2- on the basis that the Compensatory Payment cannot reasonably be considered to be in respect of a FAPL or a FACL. ...

Implicitly, this case considered it to be inappropriate to regard DTI as making a single supply of maintenance services to a driver who drives both inside and outside Canada, so that the Canadian portion of that single supply taints the service- and instead regarded the U.S. and Canadian services as separate supplies. ...

Where a person receives a salary or other remuneration that is not based on its interest in the partnership, then that person is not considered to be acting in partnership with the other parties engaged in the subject activity [per contra, Zahid Solicitors]. ...

1 June 2025- 11:37pm CRA illustrates an ordering rule for determining whether s. 15(2.17) applies to a cross-border notional cash pooling arrangement – and doubts that the s. 15(2.6) exception applies Email this Content CRA indicated that anticipated frequent and ongoing movements under a notional cash-pooling arrangement would likely be considered to form part of a series of loans, repayments, and other transactions for s. 15(2.6) purposes. ...