acquisition

3 November 2023 APFF Financial Strategies and Instruments Roundtable Q. 2, 2023-0978631C6 F - CELIAPP - Autoconstruction d'une habitation - FHSA - Self-construction -- summary under Paragraph (a)

A single individual (Mr. X) acquired a land lot in 2000, made contributions to his FHSA starting in May 2023 and on February 1, 2024, signed an agreement with a contractor to build a single-family home on his land. It was agreed that the house would be habitable by him on September 1, 2024, and his intention was to begin living in it on that date. Mr. X would like to withdraw all of his FHSA contribution on June 1, 2024.

28 November 2001 Internal T.I. 2001-0091247 - Employer Stock Opt. & Section 116116(5) -- summary under Subsection 116(5)

S.49(3) did not apply to deem the exercise of employee stock options held by a non-resident former employee to not be a disposition of the options, given that s. 49(3) applied only to capital property, whereas employee stock options are governed by s. 7. However, there was no liability under s. 116(5) to the Canadian corporation that had issued the options as it should not be considered to have acquired the options from the employee and, therefore, had no cost therefor. CRA stated "this is analogous to a situation where a debtor repaid his debt and the debt ceased to exist.

By services, 28 November, 2015

Stantec Inc. v. The Queen, 2008 TCC 400 (Informal Procedure), aff'd 2009 FCA 285 -- summary under Subsection 186(2)

The appellant acquired a US public company ("Keith") in a Delaware merger (in which Keith Industries merged into the appellant's US subsidiary, with the latter as the survivor, and Keith shareholders received shares of the appellant), which required the appellant's shares to be listed on the NYSE. In finding that the appellant was entitled to input tax credits for GST on the fees incurred by it in connection with this listing, C Miller J found that ss. 186(1) and 186(2) both applied, so that the appellant was deemed to incur the fees for use in its commercial activities.

acquisition