1 Matching Annotations
  1. Jul 2019
    1. It seems to me that in considering the purpose of a subset of the entire series of transactions, Justice Paris had in mind the correct test. As this Court said in MacKay v. Canada, 2008 FCA 105 (CanLII) at paragraph 25: The existence of a bona fide non-tax purpose for a series of transactions does not exclude the possibility that the primary purpose of one or more transactions within the series is to obtain a tax benefit.

      Existence of a bona fide non-tax purpose for a series of transactions does not exclude possibility that the primary purpose of one of the transactions in the series is to obtain a tax benefit.