Words and Phrases - "derived"
Exxonmobil Canada Ltd. v. The Queen, 2019 TCC 108
Crude pumped from an undersea oil reservoir of the Hibernia joint venture up to the “Hibernia Platform” above the ocean surface was...
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| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Scientific Research & Experimental Development | initial well placed in order to validate improved reservoir analysis was not SR&ED | 326 |
Apex City Homes Limited Partnership v. The Queen, 2018 TCC 247 (Informal Procedure)
The appellant (Apex) was a limited partnership that developed and sold the residential condominiums in a particular Calgary condominium project,...
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| Tax Topics - Income Tax Act - Section 162 - Subsection 162(7) | due diligence defence was not available where the taxpayer incorrectly disagreed with a CRA position | 175 |
Resource Capital Fund IV LP v Commissioner of Taxation, [2018] FCA 41 (Federal Court of Australia), rev'd on various grounds [2019] FCAFC 51
Two Caymans investment LPs (“RCF IV” and RCF V”) whose limited partners were mostly U.S. residents, realized gains from the disposal of...
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| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares | private equity fund LP with 5-year holding objective realized share gain on income account | 175 |
| Tax Topics - Treaties - Income Tax Conventions - Article 3 | each U.S.-resident partner of a Caymans PE LP carried on a U.S. “enterprise” | 234 |
| Tax Topics - Treaties - Income Tax Conventions - Article 13 | exclusion in Art. 13 of Aust.-U.S. Treaty for real property dispositions extended to shares of Australian holding company holding mining leases through grandchild | 420 |
| Tax Topics - General Concepts - Stare Decisis | lower court not bound by a point of law that was assumed rather than examined by a higher court | 292 |
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(1) | assessment of partnership was assessment of partners | 89 |
| Tax Topics - Treaties - Income Tax Conventions - Article 6 | Art. 6 extends common law meaning of real property | 198 |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Taxable Canadian Property - Paragraph (d) | shares of lithium mining and processing company were derived principally from the processing rather than mining operation and, thus, were not taxable Australian real property | 514 |
| Tax Topics - Income Tax Act - Section 218.3 - Subsection 218.3(1) - Canadian Property Mutual Fund Investment | shares of Australian mining company were primarily attributable to the processing rather than mining operations | 142 |
| Tax Topics - General Concepts - Fair Market Value - Other | processing assets of mining company were more valuable than its mining assets | 238 |
Jack Silverson, Bill Corcoran, "Issues Affecting Investments by Canadian Pension Plans in Private Equity, Infrastructure and Real Estate in Canada, the USA and Europe", 2016 Conference Report (Canadian Tax Foundation),15:1-40
Interpretation of 10% limit in PBSA Regulations, Sched. III, s. 9(1) (“10% Rule”) (pp. 15:4-6)
The purpose of the 10 percent rule was also...
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| Tax Topics - Income Tax Act - Section 149 - Subsection 149(1) - Paragraph 149(1)(o.2) - Subparagraph 149(1)(o.2)(ii) | 409 | |
| Tax Topics - Treaties - Multilateral Instrument - Article 7 | 161 |
Kemp v. MNR, [1947] CTC 343, 3 DTC 1078, [1946-1948] DTC 1078 (Ex Ct)
In the years in question, the only revenues of a testamentary trust were from non-exempt sources. However, the trustees made distributions to the...
1 March 2017 External T.I. 2016-0658431E5 - Article XIII of Canada-U.S. Convention
Are shares or trust interests in a resident corporation or trust considered to derive their value principally from real property situated in...
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| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Taxable Canadian Property - Paragraph (d) | derived principally test done on look-through basis | 144 |
Jared A. Mackey, "Canada Revenue Agency Views on Taxable Canadian Property Determinations Involving Subsidiaries", Tax Topics (Wolters Kluwer), No. 2315, July 21, 2016 p. 1
Proportionate value approach to determining what portion of equity is Canadian real/resource property (“CRP”) (p. 2)
If a subsidiary's shares...
Garcia v. The Queen, 2007 DTC 1593, 2007 TCC 548 (Informal Procedure)
A bonus received in 2003 by the taxpayer when he was a resident of Canada was taxable in Canada, notwithstanding that the bonus was earned in 2002...
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| Tax Topics - Treaties - Income Tax Conventions - Article 4 | 89 |
Commissioners of Taxation v. Kirk, [1900] A.C. 588 (PC)
Two mining companies that mined crude ore in New South Wales and (for the most part) also processed the crude ore there, but made contracts for...
MNR v. Hollinger North Shore Exploration Co., 63 DTC 1031 (SCC)
In accepting the taxpayer's submission that royalties (calculated as apercentage of sales proceeds) received by it from the licensee of its...
Westar Mining Ltd.v. The Queen, 92 DTC 6358, [1992] 2 CTC 11 (FCA)
Before going on to find that business interruption insurance proceeds were "income derived from the operation of a mine" for purposes of ITAR...
Gilhooly v. MNR, [1945] CTC 203, [1941-1946] DTC 725 (Ex Ct)
An estate received a portion of its income as dividends from a Canadian mining company and paid a portion of its income to the taxpayer, who had a...