The Resource Antle v R ; Marquis-Antle Spousal Trust v R ; Antle and another v R : 2009 TCC 465

Antle v R ; Marquis-Antle Spousal Trust v R ; Antle and another v R : 2009 TCC 465

Label
Antle v R ; Marquis-Antle Spousal Trust v R ; Antle and another v R : 2009 TCC 465
Title
Antle v R ; Marquis-Antle Spousal Trust v R ; Antle and another v R : 2009 TCC 465
Creator
Contributor
Subject
Language
eng
Summary
Judgment by the Tax Court of Canada, Vancouver, dated 18 September 2009. The taxpayer was a Canadian resident who devised a scheme to minimize his tax on capital gains. Under Canadian law a transfer of property between spouses or to a trust of which the spouses were the beneficiaries was exempt from immediate payment of capital gains tax. Such a trust was deemed to be resident in Canada for certain purposes under the Income Tax Act. The taxpayer set out to transfer property in the form of shares in a company, including its accumulated capital gain, to a family trust whose trustee was resident in Barbados. The trust would then sell the property to his wife at an arm's length price, receiving a promissory note. There was no capital gains tax in Barbados and the tax treaty between Canada and Barbados meant that the trust's gains were not taxable in Canada. The wife would then sell the property to a third party and pay off the promissory note. The trust would distribute the proceeds to both the taxpayer and the wife and then be dissolved. The court found that the trust was not properly constituted for various reasons, but in case it was wrong on that, went on to consider the application of the Canadian statutory anti-avoidance rule, and found that it applied
Citation source
In: International tax law reports. - London. - Vol. 12 (2010),
http://bibfra.me/vocab/relation/comm
2ul8NlLeYHs
http://library.link/vocab/creatorName
Nikolakakis, A
Language note
English
http://library.link/vocab/relatedWorkOrContributorName
Baker, P
http://library.link/vocab/subjectName
  • case law
  • GAAR
  • capital gains tax
  • trust
  • tax avoidance
Label
Antle v R ; Marquis-Antle Spousal Trust v R ; Antle and another v R : 2009 TCC 465
Instantiates
Publication
Label
Antle v R ; Marquis-Antle Spousal Trust v R ; Antle and another v R : 2009 TCC 465
Publication

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      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.37366609999999 4.9336932
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