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Given that dependent agents will likely play that role, the existence of a PE will often largely depend on whether the habituality requirement can be considered fulfilled. ... An activity that is exercised recurrently is generally considered habitual, even if its duration does not exceed six months. ...

Carrie Smit, "Foreign Currency Debts and Acquisitions of Control: Beware the Unexpected Gain", International Tax (Wolters Kluwer CCH), February 2017, No. 9, p. 6-- summary under Subsection 111(12) Summary Under Tax Topics- Income Tax Act- Section 111- Subsection 111(12) Avoidance of s. 111(12) where simultaneous acquisition of control (AoC) and amalgamation (p. 3) [2014-05544941E5] found that both the AoC and Amalgamation were considered to occur at the same time, [fn 8: This would result in only one taxation year-end for ACo and BCo, given that no other transactions occurred on that day other than transactions in the ordinary course of business.] being the earliest moment on the particular day. Because subsection 80.01(3) deemed the Debt to have been settled two moments before the time of the AoC/Amalgamation, the Debt was not considered to be outstanding one moment before the AoC, and therefore subsection 111(12) and paragraph 111(4)(c) were inapplicable. ...

The accounts themselves are not considered separate legal entities. An example of such vehicles is the "umbrella fund" available in a number of European jurisdictions. ... No change under 25 October 2018 draft legislation (p. 10) [T]he new proposals could still result in a deemed CFA in the second hypothetical considered by the joint Committee… ...

If CFA 1 is considered to be a beneficiary, it is not clear that the bare trust exception applies where the trustee receives separate instructions from CFA 1 and the collateral agent, or where instructions from CFA 1 are subject to the approval of the collateral agent…. ... The collateral agent’s interest may not be considered to be issued by the collateral trust in exchange for consideration that was not less than 90 percent of the interest’s proportionate share of the net asset value of the collateral trust’s property at the time of its issuance, nor acquired in exchange for consideration equal to the FMV of the interest at the time of its acquisition. ...

Example 3: non-application of first package (p. 7) If it 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. ...

Quaere whether CanCo will be entitled to a foreign accrual tax deduction under s. 91(4) for the s. 212(3.1) withholding tax which is factually applicable to the interest received by Treaty Co but which may be considered to be payable by Non-Treaty Co under s. 212(1)(b). ...

Accordingly, distributions to unitholders on the units in this manner cannot be made on a pro rata basis, will not be considered to be dividends for Canadian tax purposes, and will not receive the section 113 deduction. ...

Unless subsections 143.4(2) and (3) are read iteratively, it would seem that Taxpayer A's cost of the property in this example is $100 even if the recovery right is considered to be a contingent amount for purposes of the section. ...

As a result, the CRIC should be considered, even after the paragraph 212.3(7)(d) form is late-filed, to have paid a dividend to the Parent on the filing-due date for the purposes of other provisions of the Act such as subsection 129(1), subsection 112(3), and Part IV tax…. ...

It appears, based on discussions with Finance, that the extension of liability to both the custodian and a specified beneficiary was considered necessary to ensure that liability for the taxes could be satisfied by all potential parties that may have benefited from the prohibited investment or advantage. ...