Words and Phrases - "business"

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G E Financial Investments v.The Commissioners for Her Majesty's Revenue & Customs, [2021] UKFTT 0210 (Tax Chamber), ultimately aff'd [2024] EWCA Civ 797

somewhat isolated (albeit in large amounts) loan activity in US did not represent a business under UK concepts and therefore did not entail a US PE under the UK-US Treaty

A US company (“GEFI Inc.”) and UK company (“GEFI”) in the GE group formed a Delaware LP (“LP”) with GEFI Inc. as the 1% general...

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Words and Phrases
business
Locations of other summaries Wordcount
Tax Topics - Treaties - Income Tax Conventions - Article 4 a deemed US resident was not a US treaty resident 374
Tax Topics - Treaties - Income Tax Conventions - Article 24 UK would have been required to accord foreign tax credit to dual resident company if the US had imposed its taxes in accordance with the PE article 169

Loblaw Financial Holdings Inc. v. Canada, 2020 FCA 79, aff'd 2021 SCC 51

receipt of equity funds from parent was not part of Barbados bank’s business

At issue was whether a Barbados bank subsidiary (Glenhuron ) of the taxpayer, which used equity funds received from its Canadian parent to invest...

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Words and Phrases
business
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Investment Business - Paragraph (a) a Barbados bank sub conducted its business of investing in short-term debt principally with arm’s length persons 602
Tax Topics - Statutory Interpretation - Redundancy/reading in words error to apply an unexpressed intention 172
Tax Topics - Statutory Interpretation - Drafting Style no additional requirements should be inferred in legislation drafted with “mind-numbing detail” 172
Tax Topics - General Concepts - Separate Existence subsidiary did not manage its funds on behalf of parent 161
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Foreign Accrual Property Income fundamental purpose of FAPI is to capture passive income 164

Wolf v. The Queen, 2018 TCC 84, aff'd on evidentiary grounds 2019 FCA 283

revenues earned by an individual through an LLC could be included in determining what were his business revenues for services-PE purposes

The taxpayer, an aerospace engineer and a U.S. resident, was hired as an independent contractor for TDM Technical Services, a temporary employment...

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S4-F11-C1 - Meaning of Farming and Farming Business

Business source: Whether farm activities are a business

1.20 In order to determine if a farming business exists, it is important to consider...

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Words and Phrases
business

Inwest Investments Ltd. v. The Queen, 2015 BCSC 1375

Marconi test of "business" applied outside source-of-income context

The filing position of the taxpayer (Wesbild), that it did not have a permanent establishment in B.C., was based on an application of the Marconi...

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Words and Phrases
business
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) reasonable filing position cannot be a “misrepresentation” 551
Tax Topics - General Concepts - Solicitor-Client Privilege not necessary to provide legal opinion to rely on having consulted legal counsel 225
Tax Topics - Income Tax Regulations - Regulation 400 - Subsection 400(2) no fixed place of “business” if no source of business income 183
Tax Topics - Statutory Interpretation - French and English Version "misrepresentation" informed by narrower French version 109

American Leaf Blending Co. Spn. Bht. v. Director-General of Inland Revenue, [1979] A.C. 676 (PC)

After referring to dicta in the Salisbury House case, [1930] A.C. 432 to the effect that the letting of land does not constitute a "trade", Lord...

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Words and Phrases
business

Commissioners of Customs and Excise v. The Rt. Hon. Lord Fisher, [1981] T.R. 59 (HC)

Lord Fisher invited his hunting friends and relations to shoot pheasants on his estate each year, and required a "contribution" from those who...

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Words and Phrases
business

Re City of Calgary and Alberta Assessment Appeal Board (1989), 62 DLR (4th) 764 (Alta. C.A.)

The Calgary Real Estate Board Co-operative Limited was found not to be a "business" for purposes of the Municipal Taxation Act (Alberta), which...

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Words and Phrases
business

Timmins v. R., 99 DTC 5494, [1999] 2 CTC 133 (FCA)

N.B. government had a servicing undertaking, i.e., a business

The taxpayer was employed by the New Brunswick Department of Agriculture and Rural Development to assist in establishing and administering several...

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Words and Phrases
business
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 122.3 - Subsection 122.3(1) provision of services by governement for fees was an undertaking and business 169

Gillis v. The Queen, 78 DTC 6103, [1978] CTC 44 (FCTD)

In order for an undertaking to be considered a "business" it must be carried on with a reasonable expectation of profit. Dubinsky, DJ stated (at...

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Words and Phrases
business

Ward v. The Queen, 88 DTC 6212, [1988] 1 CTC 336 (FCTD)

adventure is not the carrying on of a business

"The term 'business' by definition includes an adventure in the nature of trade but it is not synonymous with carrying on a business. This latter...

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Words and Phrases
business

Pollock v. The Queen, 90 DTC 6142, [1990] 1 CTC 196 (FCTD), aff'd 94 DTC 6050 (FCA)

Taxpayer's counsel unsuccessfully submitted that because the definition of "business" specifically excluded an office or employment, the...

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Words and Phrases
business