Non‐share Corporations to hold Personal Assets

  • perpetual existence
  • no twenty‐one year rule
  • avoid estate administration tax
  • defer capital gains tax
  • flexibility
  • Lash case involving family dispute
  • CRA position on members as shareholders and benefit issues
  • need for tailor‐made by‐laws, "lease" payments, etc.

Charitable Donation "Schemes"

  • previous jurisprudence says no credit or deduction for cash portion of "donations" under "buy‐low donate high arrangements"
  • arrangement treated as an "investment" rather than gift with donative intent
  • recent Cassan decision of TCC reviews earlier cases and law and finds in favour of taxpayers to limited extent
  • under appeal to FCA

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