Words and Phrases - "one of the main purposes"
Revenue and Customs v Burlington Loan Management DAC , [2026] EWCA Civ 461
“one of the main purposes” test in Art. 12(5) of UK-Ireland treaty was not engaged by purchasing interest coupon from a non-treaty vendor at a treaty-enhanced price
BLM was an Irish-resident investment company which had already acquired a substantial number of proved claims in the administration of Lehman...
Words and Phrases
one of the main purposes| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Multilateral Instrument - Article 7 - Article 7(1) | purchasing an interest claim on the basis of treaty exemption did not indicate a purpose of “taking advantage” of that exemption | 398 |
| Tax Topics - Treaties - Income Tax Conventions - Article 3 | phrase “one of the main purposes” likely was not to be interpreted on the basis of domestic anti-avoidance jurisprudence | 186 |
Revenue & Customs v Burlington Loan Management DAC, [2024] UKUT 152, aff'd [2026] EWCA Civ 461
Irishco’s purchasing a UK interest claim from Caymansco at a tax arbitrage price did not have Treaty-reduction as a main purpose
BLM was a substantial Irish-resident investment company, which started acquiring proved claims in the administration of Lehman Brothers...
Words and Phrases
one of the main purposes| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Treaties - Multilateral Instrument - Article 7 - Article 7(1) | accessing Irish-UK treaty dividend-withholding reduction was not abusive given that not a treaty-shopping or conduit transaction | 514 |
Travel Document Service & Ladbroke Group International v Revenue & Customs (Rev 1), [2018] EWCA Civ 549
“main” has a connotation of importance
A British taxpayer (TDS) used a total return swap to cause its share investment in a subsidiary (LGI) to be deemed to be a loan. However, its...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Statutory Interpretation - Interpretation/Definition Provisions | where an anti-avoidance provision’s application depended on the purpose of being a creditor, that purpose was the one for holding shares which were a deemed loan | 379 |
Mady v. The Queen, 2017 TCC 112
transfer from wife to higher-income husband was infused with his income-splitting purpose (as well as regulatory breach if she didn’t transfer)
As a result of a rule change of the Dental College, it was necessary for ownership of all the voting common shares of the professional corporation...
Words and Phrases
one of the main purposes| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Ownership | wife and children did not acquire beneficial interest in shares the taxpayer was to transfer to them, under tax plan, until the share transfer occurred | 263 |
| Tax Topics - Income Tax Act - Section 86 - Subsection 86(2) | family members did not acquire beneficial interest in new shares until after completion of s. 86 reorg | 297 |
| Tax Topics - General Concepts - Fair Market Value - Shares | arm’s length sales price established FMV for closing-date internal transfer of same shares | 482 |
| Tax Topics - Income Tax Act - Section 69 - Subsection 69(1) - Paragraph 69(1)(b) - Subparagraph 69(1)(b)(i) | contemporaneous arm’s length sale price established that shares previously transferred at undervalue | 478 |
| Tax Topics - Income Tax Act - Section 163 - Subsection 163(2) | was not responsible under s. 163(2) for the unbeknownst sharp practice of his tax advisor | 692 |
| Tax Topics - General Concepts - Price Adjustment Clause | no jurisdiction to comment on application of price adjustment clause where the affected taxpayers are not appellants | 233 |
May 2016 Alberta CPA Roundtable, Income Tax Q.9
“one of the main purposes” in s. 74.4(2) re freeze trust with minor child acquiring common shares
When asked to comment on factors taken into account in deciding if “one of the main purposes” of a transfer or loan is reasonably considered...
Words and Phrases
one of the main purposesGroupe Honco Inc. v. Canada, 2014 DTC 5006, 2013 FCA 128, aff'g 2013 DTC 1032 [at 149], 2012 TCC 305, infra
two or three main purposes
Trudel JA stated (at para. 24) that:
[C]ounsel for the appellants is ignoring the purpose and spirit of subsection 83(2.1) of the Act in...
Words and Phrases
one of the main purposes| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(10) | sometimes elapsed time will be relevant to series determination | 206 |