New Supreme Court of Canada ruling on GAAR—Copthorne Holdings Ltd.
Tax Controversy & Dispute Resolution ()
The Supreme Court of Canada (SCC) today (December 16, 2011) released its decision in Copthorne Holdings Ltd. v. The Queen.1The SCC in a unanimous decision held that the general anti-avoidance rule (the GAAR) in section 245 of the Income Tax Act (the Act) applied to the planning engaged in by the corporate group of which Copthorne Holdings was a part.
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1. 2011 SCC 63.
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