29 November 2022 CTF Conference - Finance Update -- attach -- Subsection 245(4)
GAAR will be changed incrementally
Subsection 245(4)
Mony v. The King, 2022 TCC 120 -- attach -- Subsection 245(4)
Gervais followed to find that avoiding capital gains attribution through ACB averaging abused ss. 73(1) and 74.2(1)
Frucor Suntory New Zealand Limited v Commissioner of Inland Revenue, [2022] NZSC 113 -- attach -- Subsection 245(4)
NZ GAAR applied to treat interest coupons under a convertible loan and forward purchase arrangement as mostly principal
Modernizing and Strengthening the General Anti-Avoidance Rule, Department of Finance Consultation Paper, 11 August 2022 -- attach -- Subsection 245(4)
Coopers Park Real Estate Development Corporation v. The Queen, 2022 TCC 82 -- attach -- Subsection 245(4)
CRA legal analysis in support of the policy relied upon in GAAR assessment is discoverable
3295940 Canada Inc. v. The Queen, 2022 TCC 68, rev'd 2024 FCA 42 -- attach -- Subsection 245(4)
circular use of capital dividends abused the purpose of the CDA
17 May 2022 IFA Roundtable Q. 12, 2022-0926361C6 - Principal Purpose Test (PPT) -- attach -- Subsection 245(4)
PPT approach can inform GAAR analysis
7 December 2004 External T.I. 2004-0103061E5 F - Non Arm's Length Sale of Shares-Surpl. Stripping -- attach -- Subsection 245(4)
scheme of Act requires that a corporate distribution be treated as income, regardless of form
Eytan Dishy, Chris Anderson, "The Permissibility of Surplus Stripping: A Brief History and Recent Developments", Canadian Tax Journal (2021) 69:1, 1 -33 -- attach -- Subsection 245(4)
17 March 2005 External T.I. 2005-0118601E5 F - Sale of Shares-Transfer of Family Business -- attach -- Subsection 245(4)
GAAR could apply where previous capital gains crystallization transaction indirectly generated a capital loss on a pref redemption transaction
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