Tax Notes

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May 11, 2023

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Fairness and economic substance: Select comments on the proposed changes to the General Anti-Avoidance Rule

Regan A. O’Neil

Canada’s 2023 federal budget was released on March 28, 2023 and contained proposals for changes to the general anti-avoidance rule (“GAAR”). We published a summary overview of the proposed changes to the GAAR on March 28. This article provides some...

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Federal Court of Appeal affirms application of Subsection 84(2) of the Income Tax Act (Canada) to a hybrid business sale transaction

Neil Gurmukh

In the context of a sale of a business operated by a corporation, the seller and buyer typically have competing interests. Whereas sellers tend to prefer selling their shares of the corporation so that they can receive the sale proceeds...

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