Section 249

Subsection 249(1)

Cases

Katz Estate v. The Queen, 76 DTC 6377, [1976] CTC 633 (FCTD)

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Tax Topics - Income Tax Act - Section 70 - Subsection 70(6) 53

Administrative Policy

7 November 2012 External T.I. 2012-0468101E5 - Year End of Inter Vivos Trust on Wind Up

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17 July 2000 Internal T.I. 2000-0012557 - 75(20 on transfer of shares to trust...

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28 February 1998 T.I. 9714685

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94 C.P.T.J. - Q.22

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4 October 89 Memorandum (March 1990 Access Letter, ¶1155)

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89 C.M.TC - Q.4

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(9) 44

88 C.R. - Q.79

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Paragraph 249(1)(c)

Administrative Policy

29 May 2018 STEP Roundtable Q. 3, 2018-0744081C6 - Trust return due date on wind up

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 249 - Subsection 249(5) a non-GRE trust can have a calendar tax year even where it was dissolved 181

Subsection 249(3) - Fiscal period exceeding 365 days

Administrative Policy

S4-F7-C1 - Amalgamations of Canadian Corporations

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 100 - Subsection 100(2.1) s. 100(2.1) applies to non-qualifying amalgamation 58
Tax Topics - Income Tax Act - Section 111 - Subsection 111(12) application following amalgamation 103
Tax Topics - Income Tax Act - Section 116 - Subsection 116(1) deemed tcp following amalgamation 155
Tax Topics - Income Tax Act - Section 13 - Subsection 13(5.1) continuity of s. 13(5.1) on amalgamation 126
Tax Topics - Income Tax Act - Section 165 - Subsection 165(1) Amalco can continue objection and receive refunds 145
Tax Topics - Income Tax Act - Section 169 Amalco can continue objection 97
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(n) reserve after amalgamation 50
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Shareholder shareholder need not hold shares 82
Tax Topics - Income Tax Act - Section 251 - Subsection 251(3.1) deemed non-arm's length relationship on amalgamation 164
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(b) related party, majority and 50% group exceptions 448
Tax Topics - Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(iii) reserve after amalgamation 50
Tax Topics - Income Tax Act - Section 66.7 - Subsection 66.7(7) successoring where non-wholly owned amalgamation 85
Tax Topics - Income Tax Act - Section 69 - Subsection 69(13) no disposition of predecessor property on general principles 103
Tax Topics - Income Tax Act - Section 7 - Subsection 7(1.4) s. 87(5) not applicable 104
Tax Topics - Income Tax Act - Section 80.01 - Subsection 80.01(3) non-87 amalgamation/no FX gain 159
Tax Topics - Income Tax Act - Section 84 - Subsection 84(3) no deemed dividend to dissenter on amalgamation 81
Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) election filing by Amalco 103
Tax Topics - Income Tax Act - Section 87 - Subsection 87(1.1) s. 87(1.1) qualifies for all s. 87 purposes 60
Tax Topics - Income Tax Act - Section 87 - Subsection 87(1.2) successoring where non-wholly owned amalgamation 85
Tax Topics - Income Tax Act - Section 87 - Subsection 87(10) deemed listing of temporary Amalco shares 114
Tax Topics - Income Tax Act - Section 87 - Subsection 87(11) gain if high PUC is sub shares 47
Tax Topics - Income Tax Act - Section 87 - Subsection 87(1) presumptive satisfaction of s. 87(1)(a)/dissent and squeeze-outs onside 260
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(a) new corp/deemed year end coinciding or not with acquisition of control 700
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(b) Amalco must follow predecessor's valuation method subject to truer picture doctrine 58
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(c) reserve after amalgamation 103
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(d) cost amount carryover 135
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(e.1) s. 100(2.1) applies to non-qualifying amalgamation 58
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(o) no continuity rule for non-security options 133
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(q) pre-amalgamation services 96
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2.11) loss-carry back to parent 159
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2.1) dovetailing with s. 88(1.1) 38
Tax Topics - Income Tax Act - Section 87 - Subsection 87(3.1) 328
Tax Topics - Income Tax Act - Section 87 - Subsection 87(3) PUC shifts 181
Tax Topics - Income Tax Act - Section 87 - Subsection 87(4) fractional share cash/ACB or value shift/implied non-recognition for predecessor shares 247
Tax Topics - Income Tax Act - Section 87 - Subsection 87(7) dovetailing with s. 78 and 112(12) 171
Tax Topics - Income Tax Act - Section 87 - Subsection 87(9) allocation of s. 87(9)(c)(ii) excess as parent chooses 218
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(d) late designation 106
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1.1) dovetailing with s. 87(2.1) 56
Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) partnership dissolution on amalgamation 123
Tax Topics - Income Tax Regulations - Regulation 1100 - Subsection 1100(2.2) deemed non-arm's length relationship on amalgamation 415
Tax Topics - Income Tax Regulations - Regulation 1100 - Subsection 1100(2) deemed non-arm's length relationship on amalgamation 323
Tax Topics - Income Tax Regulations - Regulation 1102 - Subsection 1102(14) class continuity on non-arm's length amalgamation 311
Tax Topics - Income Tax Regulations - Regulation 8503 - Subsection 8503(3) - Paragraph 8503(3)(b) pre-amalgamation services 96
Tax Topics - Income Tax Act - Section 22 - Subsection 22(1) 170

28 April 2015 External T.I. 2014-0560131E5 - Subsection 249(3) - fiscal period exceeds 365 days

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17 October 2014 Internal T.I. 2014-0535561I7 F - Application du paragraphe 249(3)

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18 January 1994 External T.I. 5-933096 -

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Subsection 249(3.1) - Year end on status change

Administrative Policy

22 October 2014 Internal T.I. 2014-0550191I7 - Subsections 89(11) and 249(3.1)

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27 March 2014 External T.I. 2014-0523171E5 - Deemed year-end pursuant to 249(3.1)

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27 March 2014 External T.I. 2014-0524851E5 F - Deemed year-end and CPCC status

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 251 - Subsection 251(5) - Paragraph 251(5)(b) sub of public corporation does not become CCPC until time of its actual acquisition of control 222

28 November 2013 External T.I. 2013-0504221E5 F - Fin d'années réputées

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Words and Phrases
immediately before

2 December 2011 External T.I. 2011-0424446E5 - Interaction of Subsections 249(3.1) and 249(4)

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Articles

Anthony Strawson, Timothy P. Kirby, "Vendor Planning for Private Corporations: Select Issues", 2017 Conference Report, (Canadian Tax Foundation), 11:1-28

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Subsection 249(4) - Year end on change of control

Administrative Policy

15 October 2014 External T.I. 2014-0547551E5 F - Acquisition of Control

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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) shrinking of CCPC control group likely was AOC if sufficiently material 348

15 April 2014 External T.I. 2014-0527231E5 F - Acquisition of control and amalgamation

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(a) same day amalgamation following control acquisition gives rise to two taxation year ends if out-of-normal course transactions occur on day of closing 303

26 March 2013 External T.I. 2014-0523251E5 F - Acquisition of control and amalgamation

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(a) double taxation year ends where transactions occur on the closing date before acquisition and amalgamation 351

18 December 2013 External T.I. 2013-0511101E5 F - Substantial interest - Part VI.1

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 191 - Subsection 191(3) creation of substantial interest through redemption of special voting shares 398
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition no disposition of shares that became voting by operation of law (due to cancellation of voting shares) 165
Tax Topics - Income Tax Act - Section 251.2 - Subsection 251.2(2) - Paragraph 251.2(2)(a) no acquisition of control where votes pass from trust to an estate with the same individuals as executors 177

17 February 2011 External T.I. 2010-0388081E5 - Clarification STEP Roundtable Q3 - Deemed Year End

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(b) double year ends where acquisition of control under s. 256(7)(b)(ii) 156
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(a) double year ends where acquisition of control under s. 256(7)(b)(ii) 159

Income Tax Technical News, No. 34, 27 April 2006 under "Change in Trustees and Control".

Income Tax Technical News, No. 7, 21 February 1996 (cancelled)

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1994 A.P.F.F. Round Table, Q. 48

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18 May 1993 T.I. (Tax Window, No. 31, p. 4, ¶2511)

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25 August 1992 External T.I. 5-921586 -

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29 July 1992 Memorandum (Tax Window, No. 21, p. 4, ¶2037)

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 256 - Subsection 256(5.1) 27

29 June 1992 Internal T.I. 7-920444 -

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 256 - Subsection 256(5.1) 32

28 May 1992 T.I. 920817 (December 1992 Access Letter, p. 38, ¶C248-120)

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14 May 1992 External T.I. 5-920356 -

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91 C.R. - Q.12

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 256 - Subsection 256(5.1) 28

15 November 1991 T.I. (Tax Window, No. 11, p. 10, ¶1535)

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90 C.R. - Q43

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90 C.R. - Q39

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11 June 1990 T.I. (November 1990 Access Letter, ¶1537)

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June 1990 Meeting with Alberta Institute of Chartered Accountants (November 1990 Access Letter, ¶1499, Q. 1)

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19 March 1990 T.I. (August 1990 Access Letter, ¶1393)

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8 March 1990 T.I. (August 1990 Access Letter, ¶1393)

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16 January 1990 T.I. (June 1990 Access Letter, ¶1284)

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24 November 89 T.I. (April 90 Access Letter, ¶1188)

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18 October 89 Meeting with Quebec Accountants, Q.2 (April 90 Access Letter, ¶1166)

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89 C.R. - Q.16

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88 C.R. - Q.40

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IT-64R2 "Corporations

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Articles

Gregory M. Johnson, Wesley R. Novotny, "An Update on Flow-through Shares in the Energy Sector", 2016 Conference Report (Canadian Tax Foundation),12:1-39

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Joel A. Nitikman, "Who Has De Jure Control of a Corporation When Its Shares Are Held by a Limited Partnership?", 2011 Canadian Tax Journal, Vol 59, p. 765

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 111 - Subsection 111(5) 63

Jack Bernstein, "Corporate Control: An Evolving Canadian Concept", Tax Notes International, February 20, 2012, p. 597

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Robert Couzin, "Some Reflections on Corporate Control", 2005 Canadian Tax Journal, p. 305.

Ronit Florence, "Acquisition of Control of Canadian Resident Corporations: Checklist", Business Vehicles, Vol. V, No. 4, 1999, p. 262.

Ewens, "Acquisition of Control Issues and Secondary Offerings of Shares", Corporate Structures and Groups, Vol. IV, No. 1, 1996, p. 190.

Bernstein, "Canadian Implications of Control", Tax Profile, September 1995, Vol. 4, No. 27, p. 289.

Brown, "The Transfer of Property on Death: Ownership, Control and Vesting", 1994 Canadian Tax Journal, Vol. 42, No. 6, p. 1449.

"Group Control", 1992 Corporate Structures and Groups, Vol. 1, No. 1, p. 9.

Lahmer, "Acquisition-of-Control Rules", 1990 Corporate Management Tax Conference Report, c. 4

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Tremblay, "Disposition of Foreign Affiliate: Year-end on Change of Control", Canadian Current Tax, February, 1990, page P3

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Harris, "Acquisition of Control", Practice Notes, Canadian Current Tax, February 1988, p. P11

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Subsection 249(4.1)

Administrative Policy

18 June 2015 STEP Roundtable Q. 1, 2015-0572131C6 - 2015 STEP Q1- Tax Year of Graduated Rate Estate

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Subsection 249(5)

Administrative Policy

29 May 2018 STEP Roundtable Q. 3, 2018-0744081C6 - Trust return due date on wind up

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 249 - Subsection 249(1) - Paragraph 249(1)(c) non-GRE's tax year does not end with final distribution 127