Cases
Continental Bank of Canada v. Canada, 98 DTC 6501, [1998] 2 S.C.R. 358, [1998] 4 CTC 77
The taxpayer's subsidiary ("Leasing") transferred leasing assets to a partnership between Leasing and two subsidiaries of a third party that was...
Delesalle v. The Queen, 85 DTC 5613, [1986] 1 CTC 58 (FCTD)
It was found that a sum of $103,111 paid by a partnership to a retiring partner was consideration for the buying back of his partnership interest...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 96 - Subsection 96(1.1) | departing partner required to agree to the s. 96(1.1) allocation | 271 |
Tax Topics - Statutory Interpretation - Absurdities | 39 |
Laferrière v. The Queen, [1985] 2 CTC 190 (FCTD), aff'd 94 DTC 6423 (FCA)
The sale by the appellant of his partnership interest to the two senior partners of the firm was a capital transaction to the appellant. It was...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 96 - Subsection 96(1.1) | 161 |
Lane v. The Queen, 78 DTC 6535, [1978] CTC 795 (FCTD), aff'd 86 DTC 6568, [1986] 2 CTC (FCA)
Under the partnership law of Alberta and other provinces, no partner has any right to take any portion of the partnership property and call it...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 100 | disposition of partnership interest not disposition of underlying property | 61 |
Tax Topics - Income Tax Act - Section 96 | 20 |
The Queen v. Poulin, 76 DTC 6381, [1976] CTC 620 (FCTD)
The sum of $20,000, which the taxpayer negotiated for and was paid following his withdrawal from a partnership with two other lawyers was held to...
Blauer v. MNR, 71 DTC 5113, [1971] CTC 154 (F.C.T.A.), briefly aff'd 75 DTC 5076, [1975] CTC 112 (SCC)
The taxpayer (a professional engineer) agreed to form a special partnership with two individuals carrying on business as professional engineers in...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - General Concepts - Payment & Receipt | post-dated cheque | 22 |
Minister of National Revenue v. Sedgwick, 63 DTC 1378, [1963] CTC 571, [1964] S.C.R. 177
After the Toronto Stock Exchange required the termination of what was styled as a loan agreement, but which in fact was a partnership agreement,...
MNR v. Strauss, 60 DTC 1060, [1960] CTC 86 (Ex Ct)
The taxpayer, who sold 1/2 of his partnership interest 6 months after he and several other individuals formed the partnership for the purpose of...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 96 | 100 |
See Also
Walchuk v. The Queen, 2003 DTC 2184, 2004 TCC 42
Before going on to find that a loss realized by a stockbroker on the insolvency of a partnership carrying on a restaurant business in Greece was...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss | partnership unit normally capital property | 113 |
Von Haymann v. The Queen, 2001 DTC 203 (TCC)
The taxpayer used borrowed money to acquire an interest in a limited partnership which, in turn, held an interest in an apartment complex that...
Administrative Policy
29 November 2011 Ministerial Correspondence 2011-0424591M4 - Carried Interest
Respecting a question on the taxation in Canada of carried interests, the Directorate stated:
"Carried interest" is a term often used to describe...
Commentary
Sales of partnership interests
Although at common law a partnership is a relationship among the partners according each partner an interest in the...