Sham

Table of Contents

Cases

Coast Capital Savings Credit Union v. Canada, 2016 FCA 181

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 116 - Subsection 116(5) rejection of apparent attempt to argue that an inflated purchase price should be bifurcated between a FMV cost and a benefit conferral 280
Tax Topics - Income Tax Act - Section 54 - Adjusted Cost Base no bifurcation of inflated purchase price between FMV cost and benefit conferral 132

Antle v. Canada, 2010 DTC 5172 [at 7304], 2010 FCA 280

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(1) settler did not intend to lose control of "contributed" property 280

2529-1915 Québec Inc. v. Canada, 2009 DTC 5023 [at 5585], 2008 FCA 398

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Tax Avoidance capital dividend elections for distributions of what should have been known to be income-account gains were shams 245
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Business shares premiums received for marketing tax scheme were business income 196
Tax Topics - Income Tax Act - Section 83 - Subsection 83(2) capital dividend elections for distributions of what should have been known to be income-account gains were shams 656
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares shares acquired for immediate resale as part of capital dividend account generation scheme were on income account 160
Tax Topics - Income Tax Act - Section 9 - Exempt Receipts/Business shares premiums received for marketing tax scheme were business income 204

Canada v. Nunn, 2007 DTC 5111, 2006 FCA 403

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Tax Avoidance misrepresentation element of sham 78
Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) sham finding not argued 49

Ledoux c. La Reine, 2000 DTC 6465, 2001 FCA 130 (FCA)

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Tax Avoidance documents did not reflect actual transactions 68

McEwen Bros. Ltd. v. The Queen, 99 DTC 5326 (FCA)

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Tax Avoidance deception of Minister 44
Tax Topics - Income Tax Act - Section 96 purported partners did not jointly manage or provide capital 85

Continental Bank Leasing Corp. v. The Queen, 96 DTC 6355 (FCA), rev'd 98 DTC 6501 (SCC)

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Tax Avoidance no sham if docs reflect legal reality 86
Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) no rollover because partnership not established 216

The Queen v. Parsons, 84 DTC 6447, [1984] C.T.C 354 (FCA)

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The Queen v. Esskay Farms Ltd., 76 DTC 6010, [1976] CTC 24 (FCTD)

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Simard-Beaudry Inc. v. M.N.R., 74 DTC 6552, [1974] CTC 715 (FCTD)

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Stubart Investments Ltd. v. The Queen, 84 DTC 6305, [1984] CTC 294, [1984] 1 S.C.R. 536

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See Also

Birchcliff Energy Ltd. v. The Queen, 2017 TCC 234

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(2) - Paragraph 251.2(2)(a) proxy which accorded no discretion to a class of shareholders did not render them a group 211
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) series of transactions found to be an avoidance transaction 288
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) raising share equity through a lossco immediately before its amalgamation was abusive 268

R. v. Golini, 2016 TCC 174

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) a loan to a shareholder with recourse limited to an asset pledged by the corporation was a shareholder benefit 536
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) interest deduction on limited recourse loan 293
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) use of corporate asset to create PUC was abuse of s. 84(1) 244
Tax Topics - Income Tax Act - Section 84 - Subsection 84(1) policy of 84(1) 215

Crooks v. The Queen, 2016 TCC 52 (Informal Procedure)

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 254 - Subsection 254(2) - Paragraph 254(2)(a) accommodation co-owner was not supplied her interest directly by the builder 422
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Recipient “ultimate liability” doctrine indicated an accommodation co-purchaser of condo was not a recipient 277
Tax Topics - Excise Tax Act - Section 262 - Subsection 262(3) accommodation co-purchaser (for financing purposes) of condo was not a recipient of supply by builder 213
Tax Topics - General Concepts - Substance the addition of an accommodation co-purchaser (for financing purposes) of condo did not reflect the parties' true intentions 167
Tax Topics - Statutory Interpretation - Benefits-Conferring Legislation interpretation to favour conferral of intended benefits 183

Mariano v. The Queen, 2015 DTC 1209 [at 1331], 2015 TCC 244

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Fair Market Value - Other courseware licences valued at modest initial cost, given relevant wholesale market and depressive effect of huge volumes purchased 289
Tax Topics - General Concepts - Ownership no acquisition of unascertained property 66
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(1) void for lack of certainty of objects 208
Tax Topics - Income Tax Act - 101-110 - Section 107 - Subsection 107(2) delegation of power of appointment to promoter not authorized 222
Tax Topics - Income Tax Act - Section 118.1 - Subsection 118.1(1) - Total Charitable Gifts no gift where no intent for impoverishment and where gifted property not yet identified 526
Tax Topics - Income Tax Act - Section 248 - Subsection 248(35) attempted use of initial gift to step-up ACB under s. 69(1)(c) 238

Birchcliff Energy Ltd. v. The Queen, 2015 TCC 232, nullified on procedural grounds 2017 FCA 89

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 111 - Subsection 111(5) - Paragraph 111(5)(a) grant of proxy did not detract from investors acting individually in own interest 223
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) share subscription was avoidance transaction notwithstanding its "overarching purpose" was financing 142
Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) abusive reverse takeover by Lossco through diverted private placement 251

Coast Capital Savings Credit Union v. The Queen, 2015 TCC 195, aff'd 2016 FCA 181

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 116 - Subsection 116(5) cost of shares was cash amount required to be paid rather than FMV 149

Dimane Enterprises Ltd. v. The Queen, 2015 DTC 1013 [at 64], 2014 TCC 334

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Payment & Receipt payments not received where children "recipients" had no control over funds 58
Tax Topics - Income Tax Act - Section 144 - Subsection 144(1) - Employee Profit Sharing Plan purported recipients of trust distributions had no control over funds 236

Bessette v. ARC (Quebec Revenue Agency), 2014 QCCQ 4329

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose professional "services" corporation with no employees 210

McLarty v. The Queen, 2014 DTC 1162 [at 3556], 2014 TCC 30

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Agency participations contrary to agreement were disregarded 107
Tax Topics - General Concepts - Illegality participations contrary to agreement were disregarded 107
Tax Topics - General Concepts - Tax Avoidance sham cannot apply to just part of transaction 139
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) revenues 10% of interest 178
Tax Topics - Income Tax Act - Section 67 leveraged purchase of seismic data at arm's length was presumptively reasonable 282

Foresbec Inc. v. The Queen, 2002 DTC 1786 (TCC), aff'd 2003 DTC 5455, 2002 FCA 186

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Administrative Policy

26 February 2015 CBA Roundtable, Q. 6

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Articles

Glen Loutzenhiser, "Sham in the Canadian Courts", Sham Transactions (Edwin Simpson and Miranda Stewart, editors), Oxford University Press, 2014.

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