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) 57

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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20 February 1998 External T.I. 9714685 - NON-RESIDENT TRUST STRUCTURES

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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

26 November 2020 STEP Roundtable Q. 11, 2020-0839891C6 - Subsection 104(19)

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Tax Topics - Income Tax Act - Section 186 - Subsection 186(1) - Paragraph 186(1)(a) Pt IV tax exemption no longer available because corporate beneficiary was no longer connected at December 31 effective time of s. 104(19) designation 196
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(19) dividend subject to Pt IV tax because payer and corporate beneficiary no longer connected at December 31 effective date of all s. 104(19) designations 85
Tax Topics - Income Tax Act - 101-110 - Section 104 - Subsection 104(13) designated dividend included in individual’s terminal return which has a December 31 year end 129

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

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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 193

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 64
Tax Topics - Income Tax Act - Section 111 - Subsection 111(12) application following amalgamation 113
Tax Topics - Income Tax Act - Section 116 - Subsection 116(1) deemed tcp following amalgamation 167
Tax Topics - Income Tax Act - Section 13 - Subsection 13(5.1) continuity of s. 13(5.1) on amalgamation 132
Tax Topics - Income Tax Act - Section 165 - Subsection 165(1) Amalco can continue objection and receive refunds 157
Tax Topics - Income Tax Act - Section 169 Amalco can continue objection 103
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(n) reserve after amalgamation 62
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Shareholder shareholder need not hold shares 88
Tax Topics - Income Tax Act - Section 251 - Subsection 251(3.1) deemed non-arm's length relationship on amalgamation 172
Tax Topics - Income Tax Act - Section 256 - Subsection 256(7) - Paragraph 256(7)(b) related party, majority and 50% group exceptions 495
Tax Topics - Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(iii) reserve after amalgamation 62
Tax Topics - Income Tax Act - Section 66.7 - Subsection 66.7(7) successoring where non-wholly owned amalgamation 109
Tax Topics - Income Tax Act - Section 69 - Subsection 69(13) no disposition of predecessor property on general principles 113
Tax Topics - Income Tax Act - Section 7 - Subsection 7(1.4) s. 87(5) not applicable 112
Tax Topics - Income Tax Act - Section 80.01 - Subsection 80.01(3) non-87 amalgamation/no FX gain 165
Tax Topics - Income Tax Act - Section 84 - Subsection 84(3) no deemed dividend to dissenter on amalgamation 87
Tax Topics - Income Tax Act - Section 85 - Subsection 85(1) election filing by Amalco 109
Tax Topics - Income Tax Act - Section 87 - Subsection 87(1.1) s. 87(1.1) qualifies for all s. 87 purposes 66
Tax Topics - Income Tax Act - Section 87 - Subsection 87(1.2) successoring where non-wholly owned amalgamation 109
Tax Topics - Income Tax Act - Section 87 - Subsection 87(10) deemed listing of temporary Amalco shares 120
Tax Topics - Income Tax Act - Section 87 - Subsection 87(11) gain if high PUC is sub shares 55
Tax Topics - Income Tax Act - Section 87 - Subsection 87(1) presumptive satisfaction of s. 87(1)(a)/dissent and squeeze-outs onside 297
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 758
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 64
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(c) reserve after amalgamation 113
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(d) cost amount carryover 149
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(e.1) s. 100(2.1) applies to non-qualifying amalgamation 64
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(o) no continuity rule for non-security options 139
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2) - Paragraph 87(2)(q) pre-amalgamation services 106
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2.11) loss-carry back to parent 169
Tax Topics - Income Tax Act - Section 87 - Subsection 87(2.1) dovetailing with s. 88(1.1) 44
Tax Topics - Income Tax Act - Section 87 - Subsection 87(3.1) 346
Tax Topics - Income Tax Act - Section 87 - Subsection 87(3) PUC shifts 189
Tax Topics - Income Tax Act - Section 87 - Subsection 87(4) fractional share cash/ACB or value shift/implied non-recognition for predecessor shares 281
Tax Topics - Income Tax Act - Section 87 - Subsection 87(7) dovetailing with s. 78 and 112(12) 191
Tax Topics - Income Tax Act - Section 87 - Subsection 87(9) allocation of s. 87(9)(c)(ii) excess as parent chooses 230
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1) - Paragraph 88(1)(d) late designation 122
Tax Topics - Income Tax Act - Section 88 - Subsection 88(1.1) dovetailing with s. 87(2.1) 62
Tax Topics - Income Tax Act - Section 98 - Subsection 98(5) partnership dissolution on amalgamation 137
Tax Topics - Income Tax Regulations - Regulation 1100 - Subsection 1100(2.2) deemed non-arm's length relationship on amalgamation 467
Tax Topics - Income Tax Regulations - Regulation 1100 - Subsection 1100(2) deemed non-arm's length relationship on amalgamation 371
Tax Topics - Income Tax Regulations - Regulation 1102 - Subsection 1102(14) class continuity on non-arm's length amalgamation 327
Tax Topics - Income Tax Regulations - Regulation 8503 - Subsection 8503(3) - Paragraph 8503(3)(b) pre-amalgamation services 106
Tax Topics - Income Tax Act - Section 22 - Subsection 22(1) 179

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. 9330965 - DEEMED TAXATION YEAR

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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 234

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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9 December 2010 External T.I. 2010-0388101E5 F - CCPC status and acquisition of control

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Tax Topics - Income Tax Act - Section 249 - Subsection 249(4) - Paragraph 249(4)(b) CCPC whose control has been agreed to be acquired by Pubco can elect to extend its deemed s. 249(3.1) year end under s. s. 249(4)(b) 173

Articles

Kenneth Saddington, Jennifer Hanna, "Mergers and Acquisitions in the Light of the US Tax Changes", 2018 Conference Report (Canadian Tax Foundation), 19:1-36

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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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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 372

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 327

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 367

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

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Tax Topics - Income Tax Act - Section 191 - Subsection 191(3) creation of substantial interest through redemption of special voting shares 414
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) 171
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 187

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) 162
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) 165

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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Tax Topics - Income Tax Act - Section 256 - Subsection 256(5.1) 27

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

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Tax Topics - Income Tax Act - Section 256 - Subsection 256(5.1) 34

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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Paragraph 249(4)(b)

Administrative Policy

9 December 2010 External T.I. 2010-0388101E5 F - CCPC status and acquisition of control

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 249 - Subsection 249(3.1) CCPC which has a December 26 deemed year end under ss. 249(3.1) and 251(1)(b) that is extended to December 31 under s. 249(4)(b) loses SBC for that extended year 236

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 129