The Resource Who has de jure control of a corporation when its shares are held by an limited partnership?

Who has de jure control of a corporation when its shares are held by an limited partnership?

Label
Who has de jure control of a corporation when its shares are held by an limited partnership?
Title
Who has de jure control of a corporation when its shares are held by an limited partnership?
Creator
Subject
Language
eng
Summary
The Canadian Income Tax Act refers to an "acquisition of control" in many contexts, including the stop-loss rules in subsection 111(5). While the Supreme Court of Canada has dealt with many issues of control, one issue that has never been decided is who owns the shares of a corporation held by a limited partnership for the purpose of determining when there has been an acquisition of control of that corporation. Are the corporation's shares owned by the general partner, the limited partners, or the partnership itself? Taking into account a recent tax decision of the High Court of Australia, as well as the policy behind subsection 111(5), the author concludes that the shares should be viewed as being owned by the limited partnership itself, so that no change of partners will, in and of itself, result in an acquisition of control of the corporation
Citation source
In: Canadian tax journal = Revue fiscale canadienne. - Toronto. - Vol. 59 (2011),
http://library.link/vocab/creatorName
Nitikman, J.A
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • limited partnership
  • acquisition
  • control
  • shares
Label
Who has de jure control of a corporation when its shares are held by an limited partnership?
Instantiates
Publication
Label
Who has de jure control of a corporation when its shares are held by an limited partnership?
Publication

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