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(tax benefit) opération Sont assimilés à une opération une convention, un mécanisme ou un événement. ... Disposition 248(1) disposition constitue notamment une disposition de bien, sauf indication contraire expresse: a) toute opération ou tout événement donnant droit au contribuable au produit de disposition d’un bien; b) toute opération ou tout événement par lequel, selon le cas: (i) une action, une obligation, un billet, un certificat, une hypothèque, une convention de vente ou un autre bien semblable, ou un droit y afférent, est racheté en totalité ou en partie ou est annulé, (ii) une créance ou un autre droit de recevoir une somme est réglé ou annulé,   (iii) une action est convertie par suite d’une fusion ou d’une unification, (iv) une option concernant l’acquisition ou la disposition d’un bien expire, (v) une fiducie, à l’égard de laquelle il est raisonnable de considérer qu’elle agit à titre de mandataire pour l’ensemble de ses bénéficiaires en toute matière liée à ses biens (sauf si elle est visée à l’un des alinéas a) à e.1) de la définition de fiducie au paragraphe 108(1)), cesse d’agir à ce titre pour l’un de ses bénéficiaires en toute matière liée à ses biens; c) tout transfert de bien à une fiducie ou tout transfert de bien d’une fiducie à un bénéficiaire de celle-ci, sauf disposition contraire aux alinéas f) ou k); d) si le bien est la participation d’un contribuable au capital d’une fiducie, ou une partie d’une telle participation, sauf disposition contraire aux alinéas h) et i), un paiement de la fiducie effectué au contribuable après 1999 qu’il est raisonnable de considérer comme ayant été effectué en raison de la participation du contribuable au capital de la fiducie. ...

  [14]          Relevant Legislation   Property exempt from taxation   87. (1) Notwithstanding any other Act of Parliament or any Act of the legislature of a province, but subject to section 83 and section 5 of the First Nations Fiscal and Statistical Management Act, the following property is exempt from taxation: …   (b) the personal property of an Indian or a band situated on a reserve.     81. (1) Amounts not included in income-- There shall not be included in computing the income of a taxpayer for a taxation year,   (a) statutory exemptions [including Indians]-- an amount that is declared to be exempt from income tax by any other enactment of Parliament, other than an amount received or receivable by an individual that is exempt by virtue of a provision contained in a tax convention or agreement with another country that has the force of law in Canada;   [15]          The Supreme Court of Canada in R. v. ...

In addition, the job descriptions for the Controller and the General Manager will specifically stipulate their duties and responsibilities to protect the Shareholders’ interests. 4.7.3    Amongst other things, the job description applicable to the Controller and the General Manager shall specifically provide that they have the duty to protect the best interests of the Shareholders.... 4.9       Unanimous Decisions of the Shareholders 4.9.1    The actions, rulings, resolutions, by-laws or other measures relating to the conduct of the affairs of the Company or any of its Subsidiaries having the direct or indirect object or effect one of the questions mentioned below shall, at all times, have legal force only upon unanimous adoption and approval by the Shareholders: 4.9.1.1       any important change to the Company’s mission; 4.9.1.2       the creation of a Subsidiary and the decision to invest in any manner whatsoever in the implementation of a permanent activity other than as envisaged in the initial business plan; 4.9.1.3       any amendment to the articles of incorporation or by-laws, the adoption or cancellation of by-laws or any amendment to this Agreement; 4.9.1.4       any change in the Company’s authorized capital stock; any issuance of shares of any class and series; any issuance of shares convertible or exchangeable into securities of any class or series; any purchase, redemption, or other acquisition, exchange or conversion of any classes or series; any options or granting of stock options of any class or series or of convertible or exchangeable securities into shares of any class or series, except with respect to any issuance of convertible or exchangeable shares if such issue respects all the pre-emptive rights contained at section 6 hereof and except with respect to any purchase or redemption executed in conformity with section 8 hereof; 4.9.1.5       the approval or registration of a transfer of shares of the Company’s capital stock which is not in compliance with the provisions of the Agreement; 4.9.1.6       the allocation of the Company’s assets or those of any of its Subsidiaries, and more specifically the granting, prolongation or taking over of any mortgage or charge on any of their assets as Security for a loan; 4.9.1.7       any modifications to the Management Service Agreement, to the Marketing Agreement, to the Kraft Pulp Selling Agreement or to the Assumption and Loan Agreement and any assignments thereof; 4.9.1.8       any change in the head office, policy center or principal place of business of the Company or any of its Subsidiaries; 4.9.1.9       the liquidation, dissolution or merger of the Company or any of its Subsidiaries; 4.9.1.10     the disposal of the business, in whole or in part, as well as the sale, lease or exchange of all or a substantial part of property or assets of the Company or any of its Subsidiaries, including the granting of an option to that effect, including the sale of intellectual property rights; 4.9.1.11     any decision to institute proceedings under the Winding-up Act (Québec) or the Bankruptcy and Insolvency Act (Canada) or the Companies’ Creditors Arrangement Act (Canada) or any other law regarding insolvency or the protection of debtors; 4.9.1.12     the approval, adoption or modification of the annual financial statements of the Company or any of its Subsidiaries, any change in the date of the fiscal year end and any change in the accounting standards used or established by the Company or by one of its Subsidiaries in the preparation of its financial statements; 4.9.1.13     the appointment and replacement of the auditors of the Company or any of its Subsidiaries, it being understood that at the end of each financial year the auditors shall be chosen among five (5) internationally known accounting firms; and 4.9.1.14     the decision relative to the execution of agreements, conventions or contracts by the Company or any of its Subsidiaries, including any amendment with a company for a non arm’s length transaction, more specifically with a Shareholder, with a person bound or associated with one of the Shareholders or with a director, officer or employee of such persons. 4.9.2    The above provisions shall be interpreted in accordance with section 146 of the Act, as a transfer of powers from the directors on those specific questions in favour of the Shareholders who will assume the related powers and obligations. ...

In French; Le terme “valeurs mobilières” désigne une classe d’actifs qui comprend, par convention, les actions de sociétés, les intérêts dans des sociétés par actions, les titres de créance comme les obligations et les instruments financiers dérivé ….” ...

(k)            The sales effort started with advertisement in the London Free Press leading to the public meeting at the London Convention Centre or high school with a nationally known figure in the investment community- Brian Costello. ...

Relevant Legislation:   [80]     An exemption from payment of income tax is found in paragraph 81(1)(a) of the ITA:   81.(1) – There shall not be included in the computing the income of a taxpayer for a taxation year,   (a) – an amount that is declared to be exempt from income tax by any other enactment of Parliament, other than an amount received or receivable by an individual that is exempt by virtue of a provision contained in a tax convention or agreement with another country that has the force of law in Canada;   [81]     Paragraph 87(1) of the Indian Act provides for a declaration of exemption as follows:   87(1) – Notwithstanding any other Act of the Parliament or any Act of the legislature of a province, but subject to section 83 and section 5 of the First Nations Fiscal and Statistical Management Act, the following property is exempt from taxation, namely:   […] (b)     the personal property of an Indian or a band situated on a reserve.   ...

Paragraph 87(1)(a) is applied through paragraph 81(1)(a) of the Income Tax Act, which reads:    81(1) There shall not be included in computing the income of a taxpayer for a taxation year,   (a) an amount that is declared to be exempt from income tax by any other enactment of Parliament, other than an amount received or receivable by an individual that is exempt by virtue of a provision contained in a tax convention or agreement with another country that has the force of law in Canada;   Analysis   The connecting factors test   [89]          In Williams, (supra), the Supreme Court established the connecting factors test to determine the situs of intangible personal property for the purpose of section 87 of the Indian Act. ...

Prior to that, Bornn had been employed as a Sales Manager for a national ice-cream company and had also worked in the hotel convention industry. ...

It was therefore reasonable to believe that they may have been distrustful, especially since they were not familiar with the language or the customs and conventions of their new host country. [206]    Of course, hiding substantial amounts of money at one’s home or the place of business one is associated with is not sufficient to justify the imposition of penalties under subsection 163(2) of the Income Tax Act. [207]    Indeed, this may be a question of distrust or culture. ...

In French; Le terme “valeurs mobilières” désigne une classe d’actifs qui comprend, par convention, les actions de sociétés, les intérêts dans des sociétés par actions, les titres de créance comme les obligations et les instruments financiers dérivé ….” ...