Section 143.2

Subsection 143.2(1) - Definitions

Limited-recourse amount

Tax Shelter Investment

Articles

Bacal, Jadd, Thivierge, "Raised the Curtain for Act II: Tax Shelter Reform and the New Film Tax Credit Regime", 1997 Canadian Tax Journal, Vol. 43, No. 6, p. 1965.

Ewens, "Tax Shelter Analysis", The Taxation of Corporate Reorganizations, 1996 Canadian Tax Journal, Vol. 44, No. 4, p. 1207 and Vol. 44, No. 5, p. 1486.

Subsection 143.2(2) - At-risk adjustment

Cases

Madell v. Canada, 2009 DTC 6043, 2009 FCA 193

The taxpayer, and a limited partnership of which he was a member, agreed to pay an advance royalty of $20,000 per designated territory for rights...

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Paragraph 146.2(2)(c)

Administrative Policy

23 October 2009 External T.I. 2009-0309861E5 F - Tax-free Savings Accounts

Mr. X makes the only contribution to the TFSA of his wife. CRA stated:

[A]n arrangement ceases to be administered in accordance with the...

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Subsection 143.2(6) - Amount of expenditure

See Also

Lee v. Agence du revenu du Québec, 2020 QCCQ 780, aff'd sub nomine Seica v. Agence du revenu du Québec, 2021 QCCA 1401

The ARQ did not lose heart with the victory by a representative investor in a tax shelter in Drouin (where CRA unsuccessfully argued that no...

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Articles

Donald H. Watkins, "The Tax-Shelter Rules: An Update", 1998 Conference Report, c.5.

Bacal, Jadd, Thivierge, "Raised the Curtain for Act II: Tax Shelter Reform and the New Film Tax Credit Regime", 1997 Canadian Tax Journal, Vol. 43, No. 6, p. 1965.

Subsection 143.2(7) - Repayment of indebtedness

See Also

O'Dea v. The Queen, 2009 DTC 912, 2009 TCC 295

Promissory notes owing by the taxpayers, which were consideration for their acquisition of units of a limited partnership, provided that the...

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Tolhoek v. The Queen, 2007 DTC 247, 2006 TCC 681 (Informal Procedure), aff'd 2008 FCA 128

A partnership ("ICON") of which the taxpayer became a limited partner purchased software from a subsidiary ("Trafalgar Capital") of the developer...

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Words and Phrases
bona fide necessary

Administrative Policy

3 February 2000 TI 990688

For purposes of determining whether indebtedness denominated in a foreign currency is deemed to have a limited recourse amount by s. 143.2(7),...

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Paragraph 143.2(7)(a)

See Also

Cassan v. The Queen, 2017 TCC 174

In December 2009, individual taxpayers participated in a tax shelter that involved making both a leveraged investment (the "LP Program") and...

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Words and Phrases
bona fide relate to

Subsection 143.2(12)

See Also

Cassan v. The Queen, 2017 TCC 174

In December 2009, individual taxpayers participated in a tax shelter that involved making both a leveraged investment and leveraged donation. In...

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Subsection 143.2(15)

See Also

Tolhoek v. The Queen, 2007 DTC 247, 2006 TCC 681 (Informal Procedure), aff'd 2008 FCA 128

The taxpayer unsuccessfully submitted that it was not "necessary" for the Minister to have reassessed beyond the normal limitation period on the...

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Administrative Policy

18 June 2024 Internal T.I. 2024-1006551I7 F - Subsection 143.2(15) and statute-barred year

An individual realized a business loss in his 2019 taxation year, which he carried back to his 2016 taxation year. Both years are statute-barred....

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