|
Italy-RE-RE Azienda Directories
|
Azienda News:
- Foix, Surplus Stripping and the Impact of the Timing of Distributions . . .
On February 20, 2023, the Federal Court of Appeal (“FCA”) rendered its decision in Foix v The King [1] Under appeal were three decisions from the Tax Court of Canada (“ TCC ”) confirming reassessments of the Minister of National Revenue pursuant to subsection 84(2) of the Income Tax Act [2]
- The Foix decision: The long and uncertain reach of subsection 84(2)
MONTREAL – In late February, the Federal Court of Appeal (FCA) issued its decision in Foix, [1] a case that involved a complex series of transactions put in place to sell a Canadian business to an unrelated third party
- Federal Court of Appeal reaffirms application of… - Baker Tilly
In Foix v The King, 2023 FCA 38, the Federal Court of Appeal (FCA) ruled that a distribution of funds following a hybrid sale was subject to the application of subsection 84(2) of the Income Tax Act (ITA), affirming the Tax Court of Canada (TCC) ruling, Foix v The Queen, 2021 TCC 52
- Foix – Federal Court of Appeal confirms that s. 84(2) extends to the . . .
Trusts for the families of the two principals (Souty and Foix) sold shares of W4N to EMC Canada for notes of EMC Canada, later paid in cash, with the resulting capital gains of $5 million (approximately equaling the proceeds) ultimately being distributed to various family beneficiaries
- Court applies anti-avoidance rules to hybrid sale - DBB Law
In Foix v Canada, the Federal Court of Appeal commented on the application of section 84 (2) of the Income Tax Act in a hybrid asset and share sale transaction
- Federal Court of Appeal affirms application of Subsection 84 (2) of the
For example, in Foix v The King , [1] the Federal Court of Appeal (the “ FCA ”) recently concluded that subsection 84(2) of the Tax Act applied to a series of “indirect, structured and inter-related” transactions involving distributions of a corporation’s cash or cash equivalents to a taxpayer when a third-party facilitator is involved
- 2024-1030561C6 2024 CTF Conference - Q. 15 The Foix decision and hybrid . . .
In 2023, the Federal Court of Appeal in Foix v Canada, 2023 FCA 38 (Foix) applied subsection 84(2) to treat certain amounts received on the sale of shares of a corporation to be a dividend received by the shareholders on the distribution or appropriation of funds or property on the winding-up, discontinuance or reorganization of the business
- Private Business Hybrid Sales: Foix v His Majesty the King, 2023
The Federal Court of Appeal’s ruling in Foix v His Majesty the King, 2023 FCA 38, has threatened to radically undermine the tax benefits of a hybrid sale when selling a private business
- Foix – Tax Court of Canada finds that s. 84 (2) applied to a hybrid . . .
Summary of Foix v The Queen, 2021 CCI 52 under The shareholders of a private Canadian company (“W4N”) exploiting a valuable item of software had agreed in principle to sell W4N to a U S public company (“EMC”) for U S $50 million
- Foix, Surplus Stripping And The Impact Of The Timing Of . . . - Mondaq
On February 20, 2023, the Federal Court of Appeal ("FCA") rendered its decision in Foix v The King Under appeal were three decisions from the Tax Court of Canada
|
|