Words and Phrases - "contemplation"
Canada Trustco Mortgage Co. v. Canada, 2005 SCC 54, [2005] 2 S.C.R. 601, 2005 DTC 5523
"in contemplation" references "because of" or "in relation to"
In the course of a general discussion of the expression "series of transactions" apearing in ss. 245(2) and (3), the Court noted (at para. 26) that OSFC had held that s. 248(10) extends the meaning of a series "where the parties to the transaction 'knew of the ... series such that it could be said that they took it into account when deciding to complete the transction'," and then stated (also at para. 26):
We would elaborate that 'in contemplation' is read not in the sense of actual knowledge but in the broader sense of 'because of' or 'in relation to' the series. The phrase can be applied to events either before or after the basic avoidance transaction found under s. 245(3)."
Words and Phrases
contemplation| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 245 - Subsection 245(1) - Tax Benefit | tax benefit if taxable income reduction or on basis of comparison to alternative | 132 |
| Tax Topics - Income Tax Act - Section 245 - Subsection 245(4) | policy of CCA provisions relied on cost irrespective of risk mitigation | 211 |
| Tax Topics - Statutory Interpretation - Certainty | interpretive approach should be consistent with tax law being certain, predictable and fair, | 131 |
| Tax Topics - Statutory Interpretation - Ordinary Meaning | primacy to ordinary meaning if unequivocal | 96 |