The Resource Garron and another v R Re Garron Family Trust ; Garron v R, St Michael Trust Corp v R Re Fundy Settlement ; Dunin v R, St Michael Trust Corp v R Re Summersby Settlement : 2009 TCC 450

Garron and another v R Re Garron Family Trust ; Garron v R, St Michael Trust Corp v R Re Fundy Settlement ; Dunin v R, St Michael Trust Corp v R Re Summersby Settlement : 2009 TCC 450

Label
Garron and another v R Re Garron Family Trust ; Garron v R, St Michael Trust Corp v R Re Fundy Settlement ; Dunin v R, St Michael Trust Corp v R Re Summersby Settlement : 2009 TCC 450
Title
Garron and another v R Re Garron Family Trust ; Garron v R, St Michael Trust Corp v R Re Fundy Settlement ; Dunin v R, St Michael Trust Corp v R Re Summersby Settlement : 2009 TCC 450
Creator
Contributor
Subject
Language
eng
Summary
Judgment by the Tax Court of Canada, Toronto, Ontario dated 10 September 2009. Two trusts were created with a corporate trustee in Barbados. The two trusts subscribed for shares in newly incorporated Canadian companies which in turn subscribed for shares in a Canadian company. These transactions were effected at nominal consideration. The trust company did not seem to take much part in the affairs of the trusts and by and large accepted the instructions of two beneficiaries in Canada. In 2000, the trusts disposed of their shareholdings in an arm's length sale, realizing a capital gain of over $450m. The Commissioner assessed the trusts for income tax and alternatively a number of individuals. The trusts argued that they were resident in Barbados as that was where the trustee was relevant and that therefore they were exempt from taxation in Canada by virtue of the Canada-Barbados double taxation agreement. It was held that, as the Barbados trust had not played more than a formal role and the central management and control of the trusts were in Canada, the trusts were resident in Canada for tax purposes
Citation source
In: International tax law reports. - London. - Vol. 12 (2009),
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
  • double taxation
  • treaty interpretation
  • trust
  • residence
Label
Garron and another v R Re Garron Family Trust ; Garron v R, St Michael Trust Corp v R Re Fundy Settlement ; Dunin v R, St Michael Trust Corp v R Re Summersby Settlement : 2009 TCC 450
Instantiates
Publication
Label
Garron and another v R Re Garron Family Trust ; Garron v R, St Michael Trust Corp v R Re Fundy Settlement ; Dunin v R, St Michael Trust Corp v R Re Summersby Settlement : 2009 TCC 450
Publication

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