revert

9 March 2007 External T.I. 2006-0218501E5 F - Application de 75(2) lors d'une émission d'actions -- summary under Subsection 75(2)

Would s. 75(2) apply to dividends on shares of a corporation that are subscribed for by a trust where the corporation subsequently could become a beneficiary through being named as a beneficiary under a designation pursuant to a clause in the trust indenture providing that "any corporation controlled by Individual X may become a beneficiary" of the trust? CRA responded:

By services, 28 November, 2015

Canada v. Sommerer, 2012 DTC 5126, 2012 FCA 207 -- summary under Subsection 104(1)

Before allowing the taxpayer's appeal from an assessment made on the basis that s. 75(2) applied to attribute a capital gain realized by an Austrian private foundation (founded by the taxpayer's Austrian father) to the taxpayer, Sharlow J.A. noted (at para. 38) that she considered it a "doubtful proposition" that the foundation was a trust, even though the taxpayer's counsel had not argued this alternative basis for overturning the assessment.

revert