Cases
Atlantic Packaging Products Ltd. v. Canada, 2020 FCA 75
The taxpayer, a paper products manufacturer, engaged in a hybrid transaction in which it sold some of the assets of its “Tissue Division”...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Machinery and Equipment | the number and frequency of similar dispositions of depreciable property was relevant to capital account treatment | 341 |
| Tax Topics - Other Legislation/Constitution - Federal - Federal Courts Act - Section 27 - Subsection 27(1.3) | raising of new issue would prejudice the Crown | 222 |
See Also
Atlantic Packaging Products Ltd. Atlantic Produits D'Emballage Ltée v. The Queen, 2018 TCC 183, aff'd 2020 FCA 75
The taxpayer was a paper products manufacturer. One of its five divisions was its Tissue Division which focused on the manufacturing and sale of...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 4 - Subsection 4(1) - Paragraph 4(1)(a) | prior filing positions contradicted position that tissue division was separate business | 437 |
Administrative Policy
90 C.R. - Q33
Contrary to its earlier position, RC now accepts that s. 54.2 applies to a disposition by a partnership for shares.
10 November 89 T.I. (April 90 Access Letter, ¶1178)
s. 54.2 is not available with respect to the transfer of all the assets of a limited partnership to a corporation under s. 85(2) followed by a...
89 C.R. - Q33
Because a partnership is not a person, the provisions of s. 54.2 do not apply where the disposition is made by a partnership.
89 C.R. - Q13
RC can confirm the application of s. 54.2 where the applicant represents that the property transferred to the corporation for consideration ...