2006 Ruling 2006-0177342R3 - Creation of an income trust -- summary under Subsection 86(1)

With a view to implementing a butterfly reorganization, the common shares of BCo are exchanged for newly created common shares of CCo (having the same attributes as the exchanged common shares) and newly created preferred shares.

S.86 ruling given but with comment that "GAAR might apply if the purpose of such reorganization is to take advantage of the exception in subsection 84(4.1)".

Topics and taglines
Topic
Income Tax Act - s. 86(1)
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
313759
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
345973
Extra import data
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