Section 128

Subsection 128(1) - Closely Related Corporation

Administrative Policy

5 July 2012 Interpretation Case No. 119159

Incorporated societies which had the same board members and, therefore, were controlled by the same group of persons did not qualify as closely...

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Paragraph 128(1)(a)

Administrative Policy

26 February 2015 CBA Roundtable, Q. 20

Does the 90% test in s. 128(1)(a) only take into consideration shares that have “full voting rights under all circumstances” in both the...

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11 October 2017 Interpretation 181628

A parent corporation (Corporation A) wholly owns three subsidiaries (Corporations B, D, and G) that in turn wholly own qualifying subsidiaries...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Qualifying Subsidiary great-grandchild held on a 50-50 basis 33

26 February 2015 CBA Roundtable, Q. 20

Does the 90% test in s. 128(1)(a) only take into consideration shares that have “full voting rights under all circumstances” in both the...

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Subparagraph 128(1)(a)(i)

Administrative Policy

18 November 2021 GST/HST Interpretation 232687 - Application of the election under section 150 of the Excise Tax Act to a closely related group

A credit union (“CU Inc.”) has a 20% ownership interest in a limited partnership fund (“FI Fund LP”), with the balance held by other...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Regulations - Closely Related Corporations (GST) Regulations - Section 3 - Paragraph 3(a) s. 3(a) can accommodate minority employee incentive shares 218
Tax Topics - Excise Tax Act - Section 150 - Subsection 150(6) credit union need not file the s. 150 election 41

Subsection 128(4)

Administrative Policy

7 October 2020 APFF Roundtable Q. 14, 2020-0852261C6 F - Section 128 E.T.A.

In 18 March 2019 Interpretation 186839, all the shareholders of a corporation (the “Corporation”) entered into a unanimous shareholders...

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18 March 2019 GST/HST Interpretation 186839 - Personnes morales étroitement liées

The Shareholders (who are not closely-related to each other) of the Corporation have entered into a unanimous shareholders agreement with the...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 251 - Subsection 251(5) - Paragraph 251(5)(b) - Subparagraph 251(5)(b)(i) a USA stripped away voting control of a parent over its wholly-owned subs 169

Susbsection 128(1.1)

Paragraph 128(1.1)(a)

Subparagraph 128(1.1)(a)(i)

Administrative Policy

GST/HST Notice No. 303 - Changes to the Closely-related Test

Exception for special voting matters provided by statute, or where a statute provides a special class vote

Thus, in order for a person (or group...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 156 - Subsection 156(1.1) - Paragraph 156(1.1)(b) examples of CBCA exceptions 104
Tax Topics - Excise Tax Act - Section 150 - Subsection 150(2) - Paragraph 150(2)(b.1) example of substantially all test not satisfied 166

Subsection 128(2)

Administrative Policy

19 June 2015 Interpretation 167422

Holdco, a non-resident corporation, holds two stacks of wholly-owned Canadian and US corporations: US 2 holding US4, holding C 1, holding C 3; and...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 156 - Subsection 156(1) - Qualifying Group limitations on stacking 50