Attorney General of Canada, et al. v. Collins Family Trust, et al. (39383)
Supreme Court of Canada Hearings

Attorney General of Canada, et al. v. Collins Family Trust, et al. (39383)

2022-01-12
Two corporations implemented a plan devised by a tax professional to protect corporate assets from future creditors. The plans were intended not to incur income tax liability. In part, the plans involved each corporation issuing dividends to a newly-created family trust. The effectiveness of the plan depended on a widely-accepted interpretation of s. 75(2) of the Income Tax Act, R.S.C., 1985, c. 1 (5th Supp.). At the time the plans were implemented, the interpretation was shared by Canada Revenue Agency. Sommerer...
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