Subsection 245(4)

Cases

2763478 Canada Inc. v. Canada, 2018 CAF 209

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) 9 month separation did not avoid series 272
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) not each transaction in series effecting an estate freeze had that objective 403
Tax Topics - Income Tax Act - Section 245 - Subsection 245(6) individual allegedly suffering double taxation re s. 245(2) denial of capital loss of his corporation failed to apply under s. 245(6) within 180 days 308

Canada v. 594710 British Columbia Ltd., 2018 FCA 166

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Tax Topics - Income Tax Act - Section 160 - Subsection 160(1) stock dividend followed by redemption of the stock dividend shares effected in combination a transfer of property for no consideration 227
Tax Topics - Income Tax Act - 101-110 - Section 103 - Subsection 103(1) s. 103(1) likely applies to the allocation of most of the partnership profits at year end to a lossco that never had significant economic interest or risk in the partnership business 311
Tax Topics - Income Tax Act - Section 152 - Subsection 152(8) s. 152(8) cured an error in an assessment as to when the taxation year in question commenced 361

Pomerleau v. Canada, 2018 CAF 129

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Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(2) - Paragraph 84.1(2)(a.1) - Subparagraph 84.1(2)(a.1)(ii) GAAR applied to converting soft ACB (generated from crystallizing the capital gains deduction) into pseudo-hard ACB under s. 53(1)(f.2) for use in extracting surplus 481

Wild v. Canada (Attorney General), 2018 FCA 114

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Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(1) transactions to bump PUC did not abuse s. 84.1 prior to use of such PUC to strip surplus 186

Fiducie financière Satoma v. Canada, 2018 CAF 74

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit tax benefit to trust from tax-free dividend even though not distributed to a beneficiary 226
Tax Topics - Income Tax Act - Section 3 pervasive rule that the same income is not to be taxed in 2 persons’ hands 142
Tax Topics - Statutory Interpretation - Double Taxation (Presumption Against) inclusion of income in more than one taxpayer’s hands is contrary to s. 3 161
Tax Topics - Income Tax Act - Section 112 - Subsection 112(1) abusive to use s. 112(1) so as to avoid ultimate taxation of individuals 168
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) use of s. 75(2) to access s. 112(1) deduction for dividend in fact received by family trust, was abusive 257

Canada v. Oxford Properties Group Inc., 2018 FCA 30

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(d) s. 88(1)(d) bump is intended to permit the transfer of ACB that otherwise would be lost to another property that is taxed in the same way 349
Tax Topics - Income Tax Act - Section 98 - Subsection 98(3) - Paragraph 98(3)(c) s. 98(3)(c) bump is intended to avoid gain realization where there has been no economic gain 259
Tax Topics - Income Tax Act - Section 69 - Subsection 69(11) 3-year time limitation in s. 69(11) did not establish safe harbor for avoidance of recapture on sale after that period 366
Tax Topics - Income Tax Act - Section 100 - Subsection 100(1) purpose is to ensure that latent recapture will be recognized on sale to tax exempt 244
Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) object includes ultimate taxation of the deferred gain 224
Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) GAAR question as to determining a provision’s object was subject to correctness standard 155
Tax Topics - Statutory Interpretation - Hansard, explanatory notes, etc. statement that amendment was for “clarification” was self-serving 199
Tax Topics - Statutory Interpretation - Interpretation Act - Subsection 45(2) determination of whether amendment merely clarified requires review of pre-amendment state of law 135

GUY GERVAIS V. HER MAJESTY THE QUEEN, 2018 FCA 3

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Tax Topics - Income Tax Act - Section 74.2 - Subsection 74.2(1) purpose of ensuring that a gain deferred under interspousal rollover is attributed back to the transferor 233

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

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Sham ephemeral transactions under a Plan of Arrangement were not a sham 205
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

Univar Holdco Canada ULC v. Canada, 2017 FCA 207

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Tax Topics - Income Tax Act - Section 212.1 - Subsection 212.1(4) using old s. 212.1(4) to extract surplus from a non-resident target’s Canadian sub was not abusive 357

Canada v. Superior Plus Corp., 2015 DTC 5118 [at 6319], 2015 FCA 241, aff'g 2015 TCC 132

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Tax Topics - Income Tax Act - Section 232 - Subsection 232(1) - Solicitor-Client Privilege non-tax legal opinion produced on discovery which potentially supported a GAAR argument did not entail implied waiver of tax memos until used in evidence 192

Inter-Leasing, Inc. v. Ontario (Revenue), 2014 ONCA 575

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Tax Topics - Income Tax Act - Section 115 - Subsection 115(1) - Paragraph 115(1)(a) - Subparagraph 115(1)(a)(ii) holding intercompany loans was not a business, corporate objects presumption not applied 318

Canada v. Global Equity Fund Ltd., 2013 DTC 5007 [5526], 2012 FCA 272

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1207192 Ontario Limited v. Canada, 2012 DTC 5157 [at 7396], 2012 FCA 259, aff'g 2011 DTC 1301 [at 1686], 2011 TCC 383

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Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) purpose objectively determined 135

Triad Gestco Ltd. v. Canada, 2012 DTC 5156 [at 7385], 2012 FCA 258

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Canada Safeway v. Alberta, 2012 DTC 5133 [at 7271], 2012 ABCA 232

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Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) focus on whether individual transactions are avoidance transactions 133

Husky Energy v. Alberta, 2012 DTC 5132 [at 7262], 2012 ABCA 231

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Copthorne Holdings Ltd. v. Canada, 2012 DTC 5006 [at 6536], 2011 SCC 63, [2011] 3 S.C.R. 721

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St. Michael Trust Corp. v. Canada, 2010 DTC 5189 [at 7361], 2010 FCA 309, aff'd sub nom Fundy Settlement v. Canada, 2012 DTC 5063 [at 6881], 2012 SCC 14

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Lehigh Cement Limited v. Canada, 2010 DTC 5081 [at 6844], 2010 FCA 124

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Canada v. Remai, 2009 DTC 5188 [at 6257], 2009 FCA 340

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) providing a favour is consistent with arm's length dealing 218
Tax Topics - Statutory Interpretation - Redundancy/reading in words 38

Collins & Aikman Products Co. v. The Queen, 2009 DTC 1179 [at 958], 2009 TCC 299, aff'd 2010 DTC 5164 [at 7293], 2010 FCA 251

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Words and Phrases
apply

Canada v. Landrus, 2009 DTC 5085 [at 5840], 2009 FCA 113

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Lipson v. Canada, 2009 DTC 5528, 2009 SCC 1, [2009] 1 S.C.R. 3

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Tax Topics - Income Tax Act - Section 74.1 - Subsection 74.1(1) purpose of attribution rules: preventing use of related-person status to reduce tax when transferring property/attribution of interest expense 240

Canada v. MIL (Investments) S.A., 2007 DTC 5437, 2007 FCA 236

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Mathew v. Canada, 2005 DTC 5538, 2005 SCC 55, [2005] 2 S.C.R. 643

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Canada Trustco Mortgage Co., v. The Queen, 2005 DTC 5523, [2005] 2 S.C.R. 601, 2005 SCC 54

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit 126
Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) "in contemplation" references "because of" or "in relation to" 115
Tax Topics - Statutory Interpretation - Certainty 127
Tax Topics - Statutory Interpretation - Ordinary Meaning primacy to ordinary meaning if unequivocal 90

Canada v. Imperial Oil Ltd., 2004 DTC 6044, 2004 FCA 36

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Canada v. Produits Forestiers Donohue Inc., 2003 DTC 5471, 2002 FCA 422

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Novopharm Ltd. v. Canada, 2003 DTC 5195, 2003 FCA 112

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Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(c) borrowing to receive deemed dividend 332

Canada v. Canadian Pacific Ltd., 2002 DTC 6742, 2002 FCA 98

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) primary purpose of a borrowing in a tax-advantageous currency was to raise money 286

OSFC Holdings Ltd. v. Canada, 2001 DTC 5471, 2001 FCA 260

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Longley v. The Queen, 99 DTC 5549 (B.C.S.C.)

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See Also

Les Développements Iberville Ltée v. Agence du Revenu du Québec, 2018 QCCA 1886 (Quebec Court of Appeal)

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Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) abuse of Quebec equivalents of ss. 85(1) and 97(2) to avoid (rather than defer) tax 390
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate property bifurcated between capital and income portion on acquisition 94
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Improvements v. Repairs or Running Expense improvements to leased retail premises were not demonstrated to be made only at tenants’ requests 91
Tax Topics - Income Tax Regulations - Regulation 402 - Subsection 402(6) purpose of inter-provincial allocation rules is for 109% of income to be allocated and taxed 510
Tax Topics - Income Tax Act - Section 249.1 - Subsection 249.1(1) no policy of permitting differing Quebec and federal year ends 185

Loblaw Financial Holdings Inc. v. The Queen, 2018 TCC 182

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Tax Topics - Income Tax Act - Section 165 - Subsection 165(1.11) requirement met where Crown knew the nature and quantum of the dispute 259
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Foreign Bank CFA qualified as a foreign bank since it was licensed under Barbados law as an international bank 117
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Investment Business - Paragraph (a) Barbados-licensed international bank, which used Loblaw funding to invest responsively to Loblaw considerations, conducted an offside non-arm’s length business 425
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Investment Business - Paragraph (c) employee equivalents was reduced by employee time described in s. 95(2)(b) 284
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Foreign Exchange short-term debt securities were inventory because they were the raw material for generating swap income 124
Tax Topics - Income Tax Act - Section 152 - Subsection 152(4.01) - Paragraph 152(4.01)(a) - Subparagraph 152(4.01)(a)(ii) GAAR is generally a separate matter rather than being subsumed in the allegedly-misused substantive provision 194
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) application of GAAR required the occurrence of an avoidance transaction (or series) in non-statute-barred years and the relevant previous year’s avoidance transaction did not occur as part of the series 496
Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) hiring of employees 15-years previously to engage foreign bank exception to investment business definition was not part of same series as renewal of foreign bank licence 216
Tax Topics - Income Tax Act - Section 95 - Subsection 95(2) - Paragraph 95(2)(l) purpose of s. 95(2)(l) exception was to permit non-resident subsidiaries of Canadian banks and dealers to compete internationally 184

Custeau v. Agence du revenu du Québec, 2018 QCCQ 5692

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) generation and subsequent use of PUC exceeding taxpayers’ invested capital were not avoidance transactions as this generation was imposed by arm’s length investor 573

Alta Energy Luxembourg S.A.R.L. v The Queen, 2018 TCC 152

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Tax Topics - Treaties - Income Tax Conventions - Article 13 a large exploration property in which only six wells had been drilled qualified as immovable property used in the business 390
Tax Topics - Statutory Interpretation - Interpretation Bulletins, etc. taxpayers should be able to rely on CRA position in making a capital investment 113

9199-3899 Québec inc. v. Agence du revenu du Québec, 2017 QCCA 1524

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2763478 Canada Inc. v. The Queen, 2017 CCI 98

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) not every transaction had estate-freezing objective 285

Fiducie Financière Satoma v. The Queen, 2017 TCC 84, aff'd 2018 CAF 74

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit tax benefit even though corporate surplus stripped in favour of family trust had not so far been distributed 207
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) s. 75(2) application ousts dividend inclusion to income recipient (in absence of GAAR) 102

MP Western Properties Inc. v. The Queen, 2017 TCC 82

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Tax Topics - Other Legislation/Constitution - Federal - Tax Court of Canada Rules (General Procedure) - Section 95 - Subsection 95(1) Crown must produce all documents “considered by officials involved in or consulted during” a GAAR-related audit 292

1245989 Alberta Ltd. v. The Queen, 2017 TCC 51, rev'd sub nom. Wild, 2018 FCA 114

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(1) the use of class PUC-averaging to bump the PUC of personally-held shares was an abuse of s. 84.1 633
Tax Topics - Income Tax Act - Section 245 - Subsection 245(5) assessment of PUC without current income effect 32

Veracity Capital Corp. v. The Queen, 2017 BCCA 3

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Tax Topics - Statutory Interpretation - Inserting Words Crown's interpretation entailed the addition of words that were already in a closely related provision 184

594710 British Columbia Ltd. v. The Queen, 2016 TCC 288

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 160 - Subsection 160(1) indirect transfer of property to taxpayer did not entail departure from FMV 442
Tax Topics - Income Tax Act - Section 245 - Subsection 245(2) GAAR reassessment must reflect the abuse 305
Tax Topics - Income Tax Act - Section 96 - Subsection 96(1) - Paragraph 96(1)(f) LP profits can be allocated to purchasing partner at year end 266

Pomerleau v. The Queen, 2016 TCC 228, aff'd 2018 CAF 129

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(2) - Paragraph 84.1(2)(a.1) GAAR applied to converting soft ACB (generated from crystallizing the capital gains deduction) into pseudo-hard ACB under s. 53(1)(f.2) for use in extracting surplus 675

Oxford Properties Group Inc. v. The Queen, 2016 TCC 204, rev'd 2018 FCA 30

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) subsequent sale part of series as it utilized the benefit of previous LP packaging transactions 371
Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) purpose not to tax underlying recapture on subsequent LP unit sale 415
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(d) purpose: to push down ACB of shares of sub to qualifying non-depreciable property 474
Tax Topics - Statutory Interpretation - Interpretation Act - Subsection 45(2) subsequent amendment shed light on scope of previous version 99
Tax Topics - Income Tax Act - Section 100 - Subsection 100(1) S. 100 operates only on outside basis gain 278
Tax Topics - Income Tax Act - Section 69 - Subsection 69(11) Parliament provided safe harbour for sales after 3 years 196
Tax Topics - Income Tax Act - Section 98 - Subsection 98(3) - Paragraph 98(3)(c) purpose: to preserve high outside basis through push down 285

Gervais v. The Queen, 2016 TCC 180

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) comparison with outright sale and gift 187
Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit benefit compared to straight sale and gift 162

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 - General Concepts - Sham sham doctrine did not apply to a "minor pretence" 326
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 84 - Subsection 84(1) policy of 84(1) 215

Univar Holdco Canada ULC v. The Queen, 2016 TCC 159

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 212.1 - Subsection 212.1(4) creating a sandwich structure in order to access s. 212.1(4) was an abuse of the s. 212.1(1) anti-surplus stripping rule 593
Tax Topics - Statutory Interpretation - Interpretation Act - Subsection 45(3) policy of current version of s. 212.1(4) confirmed by proposed amendment 130

Veracity Capital Corporation v. M.N.R., 2015 DTC 5136 [at 6421], 2015 BCSC 2278

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) investment in LP units with 7.2% return was primarily for tax avoidance reasons/year end selections were avoidance transactions 455

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 - General Concepts - Sham transitory share issuance under plan of arrangement was not a sham 167
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

HMRC v Pendragon plc, [2015] UKSC 37

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Tax Topics - Excise Tax Act - Section 274 - Subsection 274(4) scheme, exploiting a rule intended to avoid double-taxation so as to avoid tax, was abusive 713

Superior Plus Corp. v. The Queen, 2015 DTC 1124 [at 765], 2015 TCC 132, aff'd 2015 FCA 241

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Tax Topics - Income Tax Act - Section 232 - Subsection 232(1) - Solicitor-Client Privilege disclosure of commercial legal opinion did not entail waiver of privilege for tax legal opinions 137

Barrasso v. The Queen, 2014 TCC 156

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Descarries v. The Queen, 2014 DTC 1143 [at 3412], 2014 TCC 75 (Informal Procedure)

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 171 - Subsection 171(1) free to raise an interpretation not advanced by either party 71
Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) holdco distribution made out of loan from still-operating sub - s. 84(2) did not apply 478

Pièces automobiles Lecavalier Inc. v. The Queen, 2014 DTC 1126 [at 3319], 2013 TCC 310

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Tax Topics - General Concepts - Evidence Canadian tax accountant's testimony on US tax consequences accorded little weight 138
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) debt-paydown transactions were avoidance transactions 236
Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) debt-paydown transactions effected in contemplation of sale transaction were part of same series as the sales transactions 216

Gwartz v. The Queen, 2013 DTC 1122 [at 640], 2013 TCC 86

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Swirsky v. The Queen, 2013 TCC 73, 2013 DTC 1078 [at 431], aff'd 2014 FCA 36

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MacDonald v. The Queen, 2012 TCC 123, rev'd 2013 DTC 5091 [at 5982], 2013 FCA 110

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Antle v. The Queen, 2009 DTC 1305, 2009 TCC 465, aff'd 2010 DTC 5172 [at 7304], 2010 FCA 280

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Garron Family Trust v. The Queen, 2009 DTC 1568, 2009 TCC 450, aff'd sub nom St. Michael Trust Corp. v. The Queen, 2010 DTC 5189 [at 7361], 2010 FCA 309, aff'd sub nom Fundy Settlement v. Canada, 2012 SCC 14

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) 126

OGT Holdings Ltd. v. Deputy Minister of Revenue (Québec), 2009 DTC 5705, 2009 QCCA 191

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Landrus v. The Queen, 2008 DTC 3583, 2008 TCC 274, aff'd supra.

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McMullen v. The Queen, 2007 DTC 286, 2007 TCC 16

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 245 - Subsection 245(3) 266
Tax Topics - Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) mutual benefit and same advisors insufficient to establish non-arm's length in structured sale transaction 253
Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) 225
Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(1) arm's length: negotiation based on self-interest 253

Ogt Holdings Ltd. v. Deputy Minister of Revenue of Québec, 2006 DTC 6604 (Court of Québec)

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Ceco Operations Ltd. v. The Queen, 2006 DTC 3006, 2006 TCC 256

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Tax Topics - General Concepts - Substance 95
Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) 261
Tax Topics - Income Tax Act - Section 97 - Subsection 97(2) partnership subscription for taxpayer affiliate pref shares not boot 259

Lipson v. The Queen, 2006 DTC 2687, 2006 TCC 148, aff'd supra.

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Desmarais v. The Queen, 2006 DTC 2376, 2006 TCC 44

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Evans v. The Queen, 2005 DTC 1762, 2005 TCC 684

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XCO Investments Ltd. v. The Queen, 2005 DTC 1731, 2005 TCC 655

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Canada v. Jabin Investments Ltd., 2003 DTC 5027, 2002 FCA 520

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Loyens v. The Queen, 2003 DTC 355, 2003 TCC 214

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Hill v. The Queen, 2002 DTC 1749 (TCC)

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Fredette v. The Queen, 2001 DTC 621 (TCC)

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Geransky v. The Queen, 2001 DTC 243 (TCC)

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Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) 302

Jabs Construction Ltd. v. The Queen, 99 DTC 729

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The Queen v. Central Supply Co. (1972) Ltd., 97 DTC 5295 (FCA)

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Gibson Petroleum Co. Ltd. v. The Queen, 97 DTC 1420 (TCC)

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RMM Canadian Enterprises Inc. v. The Queen, 97 DTC 302, [1998] 1 C.T.C. 2300 (TCC)

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McNichol et al. v. The Queen, 97 DTC 111 (TCC)

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Administrative Policy

Alexandra MacLean, "CRA Audits of Large Corporations - The view from ILBD" under Responses to recent adverse decisions – Univar, 27 November 27 2018 CTF Annual Conference presentation.

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27 November 2018 CTF Roundtable, Q.5

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Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(b) where Parent acquired the net tax equity in Subco at a bargain price (low share ACB), avoiding a s. 88(1)(b) gain on wind-up through reducing PUC is abusive 496

9 August 2016 Internal T.I. 2014-0526171I7 - Resettlement of a Trust

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition sale of the two interests in a commercial trust to a 3rd party gave rise to a new trust given that this not contemplated when trust settled 370
Tax Topics - Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(a) constructive resettlement of trust on sale of beneficial interests therein extinguished its losses 186

13 June 2017 STEP Roundtable Q. 2, 2017-0693321C6 - GAAR and 21-year planning

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(5.8) GAAR generally applicable to using Canco to defer s. 104(4) deemed disposition only for lifetime of existing beneficiaries 290

12 May 2017 External T.I. 2017-0683511E5 F - Purpose tests of a dividend or repurchase of share

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(b) - Subparagraph 55(2.1)(b)(ii) redeeming common shares otherwise than out of safe income may be GAARable 324
Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) using s. 55(3)(a) to distribute cash otherwise than from safe income likely abusive 181

29 November 2016 CTF Roundtable Q. 1, 2016-0669301C6 - GAAR & 21-year rule planning

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Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(5.8) making a s. 107(2) distribution to a corporate beneficiary held by a new trust is an abusive circumvention of the s. 104(4) 21-year rule 251

27 April 2016 External T.I. 2016-0625001E5 F - Surplus Stripping

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Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) using a trust to funnel a deemed dividend from creating PUC to a Holdco beneficiary and funnelling that PUC to the individual beneficiary, is surplus stripping 204
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(24) distribution of s. 84(1) dividend effected with note issuance 223

2 May 2016 External T.I. 2016-0633351E5 F - Descarries Case and Document no. 2015-0610711C6

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Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(1) purpose of 84.1 not restricted to monetization transactions 150

13 January 2016 External T.I. 2015-0604521E5 - ACB increase in paragraph 55(3)(a) reorganization

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(3) - Paragraph 55(3)(a) GAAR may be applied if the transactions produce an outside basis step-up 372
Tax Topics - Income Tax Act - Section 80 - Subsection 80(1) - Forgiven Amount contribution of note by creditor to debtor 34

24 November 2015 CTF Roundtable Q. 11, 2015-0610711C6 - Impact of the Descarries decision

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Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(1) abuse of s. 84.1 to use basis stepped up under CGD to create a capital loss permitting surplus extraction 311

24 November 2015 CTF Roundtable Q. 4, 2015-0610701C6 - Surplus Stripping and GAAR

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(5) - Paragraph 55(5)(f) deliberate non-use of s. 55(5)(f) designation does not violate GAAR 239

9 October 2015 APFF Roundtable Q. 15, 2015-0595641C6 F - Surplus Stripping and GAAR

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(2) GAAR did not apply where a taxpayer deliberately triggered the application of s. 55(2) 133

9 October 2015 APFF Roundtable Q. 14, 2015-0595631C6 F - Indirect Monetization of CGD

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Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(2) - Paragraph 84.1(2)(a.1) individual cannot effectively use the ACB of shares previously stepped-up using the capital gains deduction to create a loss to offset a gain on the sale of common shares 125

28 May 2015 IFA Roundtable Q. 2, 2015-0581551C6 - IFA 2015 Q.2: GAAR and treaty shopping

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GST/HST Memorandum 16-4 "Anti-avoidance Rules" 20 February 2015

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10 October 2014 APFF Roundtable Q. 21, 2014-0538091C6 F - 2014 APFF Roundtable, Q. 21 - Impact of the Descarries Case

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Tax Topics - Income Tax Act - Section 248 - Subsection 248(28) will not impose double taxation under s. 84(2) and (3) 36
Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) Descarries failed to recognize breadth of s. 84(2) 517

2 December 2014 CTF Roundtable, Q. 6

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Tax Topics - Income Tax Act - Section 100 - Subsection 100(1) avoidance of s. 100 through partnership boot paydown 343

10 October 2014 APFF Roundtable Q. 20, 2014-0534671C6 F - D&D Livestock

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(2.1) - Paragraph 55(2.1)(b) - Subparagraph 55(2.1)(b)(i) CRA is concerned by planining that can result in an unjustified duplication of fiscal attributes including ACB 163

2013 Ruling 2013-0504301R3 - Loss Consolidation

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Tax Topics - Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(a) Lossco sale of Newco pref to profitco for profitco note; provincial GAAR ruling 392

24 November 2013 CTF Roundtable, 2013-0508161C6 - Loss on disposition of shares

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Tax Topics - Income Tax Act - Section 112 - Subsection 112(3) loss preservation transactions which avoid s. 112(3) stop-loss rule 263
Tax Topics - Income Tax Act - Section 93 - Subsection 93(2.01) loss preservation transactions which did not satisfy the s. 93(2.01) requirements 201

18 June 2013 External T.I. 2012-0433261E5 F - 55(5)(f) and Surplus Stripping

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Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) partial conversion of retained earnings to capital dividends through deliberate failure to make s. 55(5)(f) designation was abusive stripping 452

5 October 2012 APFF Roundtable Q. 13, 2012-0454181C6 F - Discretionary Dividend Shares

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Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) discretionary dividend shares issued for nominal consideration 146

5 October 2012 APFF Roundtable Q. 8, 2012-0454161C6 F - Computation of CDA and Acquisition of Control

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Tax Topics - Income Tax Act - Section 89 - Subsection 89(1) - Capital Dividend Account CDA deduction of extinguished capital losses 109

3 July 2012 External T.I. 2012-0443421E5 F - 84.1 and partnership

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Tax Topics - Income Tax Act - Section 84.1 - Subsection 84.1(1) use of partnership avoids 84.1 502

2011 Ruling 2011-0392171R3 - XXXXXXXXXX

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28 November 2010 CTF Roundtable Q. 21, 2010-0386361C6 - 2010 CTF Q21 - Reasonable Salary for Inc. Prof.

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8 October 2010 Roundtable, 2010-0373291C6 F - Tuck-Under Transactions - Safe Income Extractions

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2010 Ruling 2009-0332571R3 - Loss consolidation - related or affiliated

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Tax Topics - Income Tax Act - Section 111 - Subsection 111(1) - Paragraph 111(1)(a) loss shift between related but unaffiliated corporations 153

2005 Ruling 2005-0123631R3 - Thin Capitalization Rules

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Income Tax Technical News, No. 34, 27 April 2006 under "Sale of Tax Losses"

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7 October 2005 APFF Roundtable Q. 13, 2005-0141061C6 F - Purchase of Shares by Subsidiary - Sec. 84.1 & 245

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2004 Ruling 2004-009475 -

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2004 Ruling 2004-008854 -

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2004 Ruling 2004-008431 -

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2004 Ruling 2003-0053981R3 - XXXXXXXXXX

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Tax Topics - Income Tax Act - 101-110 - Section 107.4 - Subsection 107.4(1) - Paragraph 107.4(1)(a) qualifying drop-down of partnership units to subsidiary unit trust where s. 107.4(2)(a) was ousted due to units issuance 218
Tax Topics - Income Tax Act - 101-110 - Section 107.4 - Subsection 107.4(1) - Paragraph 107.4(1)(h) immediate refinancing of drop-down subsidiary trust of MFT did not offend policy of para. (h) 219

Income Tax Technical News, No. 30, 21 May 2004

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2003 Ruling 2003-004182 -

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Tax Topics - Income Tax Act - Section 206 - Subsection 206(2) 38

2003 APFF Roundtable Q. 1, 2003-0029955 -

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Tax Topics - Income Tax Act - Section 84 - Subsection 84(2) hybrid sale: internal step-up followed by share sale 431

2 June 2003 External T.I. 2003-000248 -

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Tax Topics - Income Tax Act - Section 80 - Subsection 80(13) 72

31 March 2003 Internal T.I. 2002-016627 -

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9 September 2002 External T.I. 2002-014100 -

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2001 Ruling 2001-009021 -

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2000 Ruling 2000-001072 -

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May 1999 CALU Conference No. 9908430., Q.3

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1997 Ruling 971700

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Tax Topics - Income Tax Act - Section 47 - Subsection 47(1) 114

1996 A.P.F.F. Round Table No. 7M12910 (Item 3.1)

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Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) 70

1996 A.P.F.F. Round Table No. 7M12910 (Item 3.1)

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Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) 53

6 July 1995 External T.I. 5-931646 -

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Tax Topics - Income Tax Act - Section 84 - Subsection 84(3) 151

21 June 1995 T.I. 951091 (see also 21 May 1996 T.I. 952686)

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Tax Topics - Income Tax Act - Section 15 - Subsection 15(2.2) 93

12 April 1995 T.I. 950859 (C.T.O. "GAAR and Utilization of Losses")

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1995 Ontario Tax Conference Round Table, Q. 5 (No. 952503)

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27 May 1994 External T.I. 5-940894 -

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1994 A.P.F.F. Round Table, Q. 34

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Rulings Directorate Discussion and Position Paper on Motion Picture Films and Video Tapes as Tax Shelters, Version 29/3/93 930501 (C.T.O. "Motion Picture Films - C.C.A.")

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Rulings Directorate Discussion and Position Paper on Motion Picture Films and Video Tapes as Tax Shelters, Version 29/3/93 930501 (C.T.O. "Motion Picture Films - C.C.A.")

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1993 A.P.F.F. Round Table, Q. 2

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93 CPTJ - Q.14

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Tax Topics - Income Tax Act - Section 69 - Subsection 69(11) 30

26 January 1993 T.I. (Tax Window, No. 28, p. 1, ¶2383)

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11 January 1993 T.I. (Tax Window, No. 27, p. 14, ¶2358)

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December 1992 B.C. Tax Executives Institute Round Table, Q. 1 (No. 9230390)

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16 December 1992 T.I. 920178 (November 1993 Access Letter, p. 511, ¶C245-050)

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Tax Topics - Income Tax Act - Section 186 - Subsection 186(4) 28

1 December 1992 T.I. (Tax Window, No. 27, p. 9, ¶2319)

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92 C.R. - Q.24

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31 August 1992 Memorandum (Tax Window, No. 24, p. 3, ¶2191)

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24 June 1991 T.I. (Tax Window, No. 4, p. 2, ¶1313)

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2 January 1991 T.I. (Tax Window, Prelim. No. 3, p. 11, ¶1083)

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Tax Topics - Income Tax Act - Section 85 - Subsection 85(1.1) 44

6 December 1990 T.I. (Tax Window, No. 2, p. 9, ¶1197)

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5 December 1990 Memorandum F-3973 (Tax Window, Prelim. No. 2, p. 17, ¶1063)

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9 October 1990 T.I. (Tax Window, Prelim. No. 1, p. 17, ¶1035)

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90 C.R. - Q22

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90 C.R. - Q20

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90 C.R. - Q21

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14 June 1990 T.I. (November 1990 Access Letter, ¶1535)

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30 May 1990 T.I. (October 1990 Access Letter, ¶1487)

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9 May 1990 Meeting (October 1990 Access Letter, ¶1474)

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20 April 1990 T.I. (September 1990 Access Letter, ¶1435)

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23 February 1990 Memorandum (July 1990 Access Letter, ¶1346)

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6 February 1990 Memorandum (July 1990 Access Letter, ¶1345)

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11 January 1990 T.I. (June 1990 Access Letter, ¶1283)

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15 November 89 T.I. (April 90 Access Letter, ¶1187)

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Tax Topics - Income Tax Act - Section 55 - Subsection 55(2) 109

15 November 89 T.I. (April 90 Access Letter, ¶1186)

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25 October 89 T.I. (March 1990 Access Letter, ¶1161)

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20 October 89 T.I. (March 1990 Access Letter, ¶1158)

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25 September 89 Memorandum (February 1990 Access Letter, ¶1127)

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89 C.R. - Q.41

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Tax Topics - Income Tax Act - Section 54 - Superficial Loss 54

89 C.R. - Q.42

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89 C.R. - Q.43

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89 C.R. - Q.44

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89 C.R. - Q. 3

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October 1989 Revenue Canada Round Table - Q.23 (Jan. 90 Access Letter, ¶1075)

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October 1989 Revenue Canada Round Table - Q.21 (Jan. 90 Access Letter, ¶1075)

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October 1989 Revenue Canada Round Table - Q.11 (Jan. 90 Access Letter, ¶1075)

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October 1989 Revenue Canada Round Table - Q.4 (Jan. 90 Access Letter, ¶1075)

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29 Aug. 89 T.I. (Jan. 90 Access Letter, ¶1084)

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89 C.R. - Hiltz Paper (C.7)

88 C.R. - "Small Business Corporation Shares" - "'GAAR' and QSBC Shares"

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89 C.M.TC - "Section 245 of the Income Tax Act"

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M. Hiltz, "Section 245 of the Income Tax Act", 1988 Conference Report, c.7.

IT-96R5 "Options Granted by Corporations to Acquire Shares, Bonds or Debentures" under "Anti-Avoidance Provisions"

ATR-44

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Articles

Alan M. Schwartz, Kevin H. Yip, "Policy Forum: Defending Against a GAAR Reassessment", Canadian Tax Journal (2014) 62:1, 129-46.

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David H. Sohmer, "Copthorne, Global Equity Fund, and the GAAR: Stubart Redux", The Canadian Taxpayer, January 25, 2013 – Vol. XXXV No.2, p. 9

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Steve Suarez, "Tax Court Compels Disclosure in GAAR Case", Tax Notes International, Vol. 69 No. 3, 21 January 2013, p. 238

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David H. Sohmer, "Copthorne and the Supreme Court: Did the Court Cross the Line?", The Canadian Taxpayer, Vol. XXXIV, No. 3, February 10, 2012, p. 9

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David H. Sohmer, "The Supreme Court Decision in Copthorne: A Move To The Middle", The Canadian Taxpayer, Vol. XXXIV, No. 2, January 27, 2012, p. 9

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David H. Sohmer, "GAAR or GAAR Lite: What Did Parliament Really Want?", The Canadian Taxpayer, Vol. XXX, No. 4, February 12, 2008 - February 25, 2008, p. 25.

Corcoran, Porter, "The General Anti-Avoidance Rule - Application to Second-Tier Finance Company Structures", International Tax Planning, Vol. VI, No. 3, 1997, p. 403.

"Applying the General Anti-Avoidance Rule", Tax Profile, February 1992, p. 190: Summary of discussion by Mark Symes and Jim Pearson of the potential application of GAAR in a number of situations.

D.J. Arnold, J.R. Wilson, "The General Anti-Avoidance Rule - Part 1, Part 2 and Part 3", 1988 Canadian Tax Journal, p. 829, p. 1123, p. 1369.

R.F. Lindsay, "The General Anti-Avoidance Rule: Points to Consider", 1988 Conference Report, c.5.

T.E. McDonnell, "Legislative Anti-Avoidance: The Interaction of the New General Rule and Representative Specific Rules", 1988 Conference Report, c.6.