Subsection 115.2(1) - Definitions
Designated investment service
Administrative Policy
2014 Ruling 2013-0513431R3 - Application of section 115.2
Illiquid investments of LPs. The Manager, which is a Canadian-controlled corporation providing investment advisory and management services to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 115.2 - Subsection 115.2(2) - Paragraph 115.2(2)(c) | two-tier LP structure | 56 |
2007 Ruling 2007-0224751R3 - Application of 115.2
Management Agreement. Canadian-resident "Manager" will enter into the "Management Agreement" with the affiliated CBCA GP of two newly-formed LPs...
Paragraph (a)
Administrative Policy
17 November 2023 External T.I. 2023-0965891E5 - Section 115.2
The activities of a limited partnership (“Foreign LP), governed by foreign or provincial law are lending to borrowers that are resident in and...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 115.2 - Subsection 115.2(1) - Designated investment service - Paragraph (b) | lending qualifies as a designated investment service | 175 |
| Tax Topics - Income Tax Act - Section 2 - Subsection 2(3) - Paragraph 2(3)(b) | performance of admin services in Canada for non-resident limited partners would not be itself cause them to carry on business in Canada | 91 |
Paragraph (b)
Administrative Policy
17 November 2023 External T.I. 2023-0965891E5 - Section 115.2
The activities of a limited partnership (“Foreign LP), governed by foreign or provincial law are lending to borrowers that are resident in and...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 115.2 - Subsection 115.2(1) - Designated investment service - Paragraph (a) | ancillary admin services outside the scope of designated investment services or of GP do not cause limited partners to carry on business in Canada | 299 |
| Tax Topics - Income Tax Act - Section 2 - Subsection 2(3) - Paragraph 2(3)(b) | performance of admin services in Canada for non-resident limited partners would not be itself cause them to carry on business in Canada | 91 |
2017 Ruling 2017-0699531R3 - Application of section 115.2
Structure
Each of Aco and Bco (who are unrelated Canadian residents) each holds 50% of the shares of Canco, which wholly owns the...
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|---|---|---|
| Tax Topics - Income Tax Act - Section 115.2 - Subsection 115.2(2) - Paragraph 115.2(2)(c) | exemption available where 2-tier partnership | 124 |
Subsection 115.2(2) - Not carrying on business in Canada
Paragraph 115.2(2)(b)
Articles
Timothy Hughes, Matias Milet, Marc Richardson-Arnould, "Private Equity Funds – Selected Canadian Tax Issues", Tax Management International Journal, 2016, p.84
Restrictions on s. 115.2 safe harbour (p. 86)
The safe harbour contains a number of restrictions. For example, a share in the capital stock of a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Taxable Canadian Property - Paragraph (d) | 166 | |
| Tax Topics - Treaties - Income Tax Conventions - Article 10 | 363 |
Subparagraph 115.2(2)(b)(i)
Clause 115.2(2)(b)(i)(B)
Administrative Policy
18 November 2014 TEI Roundtable, Q. E.6
Forco, which is wholly-owned by Canco (which, in turn, is a (widely-held) "designated entity" in respect of the affiliated Canadian service...
Paragraph 115.2(2)(c)
Administrative Policy
2017 Ruling 2017-0699531R3 - Application of section 115.2
CRA ruled that the s. 115.1(2)(c) safe harbour was available, respecting the acquisitions and dispositions by, and management/advice of, the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 115.2 - Subsection 115.2(1) - Designated investment service - Paragraph (b) | safe harbour applied to partnerships providing mezzanine financing and receiving profit participations though a Canadian corporate sub | 440 |
2014 Ruling 2013-0513431R3 - Application of section 115.2
CRA ruled that the s. 115.2 safe harbour applied in respect of investment management and administration services provided by the Canadian Manager...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 115.2 - Subsection 115.2(1) - Designated investment service | two-tier LP structure investing in original issue illiquid debt | 301 |