Section 194

Subsection 194(4) - Corporation may designate amount

Cases

Groupmark Canada Ltd. v. The Queen, 93 DTC 5179, [1993] 1 CTC 234 (FCTD)

A related corporation issued a non-interest bearing promissory note for $120,000 to the taxpayer on May 18, 1984. Given that advances in excess of...

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Words and Phrases
consideration

Subsection 194(4.2) - Where amount may not be designated

Cases

Mort v. The Queen, 93 DTC 5058, [1993] 1 CTC 99 (FCTD)

The requirements of s. 194(4.2)(b) were met given that the steps that had been taken by April 10, 1984 "were meaningful, significant and...

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First Fund Genesis Corp. v. The Queen, 91 DTC 5361, [1991] 2 CTC 14 (FCTD)

After finding that s. 194(4.2) had retroactive effect to the date that the restriction was first announced on October 10, 1984 by the Minister of...

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Words and Phrases
substantially advanced

See Also

Gupta v. MNR, 92 DTC 1542 (TCC)

A document filed by the taxpayer with a Quebec securities commission which did not qualify as a prospectus for purposes of the Quebec Securities...

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Words and Phrases
proportion prospectus

Subsection 194(7) - Late designation

Cases

The Queen v. United Equities Ltd., 95 DTC 5042, [1995] 1 CTC 164 (FCA)

The taxpayer successfully argued that timely filing of information returns is not a condition precedent to late the filing of a designation under...

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Locations of other summaries Wordcount
Tax Topics - Statutory Interpretation - Resolving Ambiguity 53