08 December 2021 Supreme Court of Canada dismisses Crown's appeal in The Queen v. Loblaw Financial Holdings Inc. The Supreme Court of Canada (SCC) has released its decision in The Queen v. Loblaw Financial Holdings Inc., 2021 SCC 51, unanimously dismissing the Crown's appeal concerning the interpretation of foreign accrual property income (FAPI) rules in the Income Tax Act (ITA). In its decision, the SCC considered whether a parent company that contributes capital (or makes loans) to, and exercises corporate oversight over, its controlled foreign affiliate (CFA) can be considered to "conduct business" with such affiliate. Document ID: 2021-2207 |
