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SPECIAL OFFER: Registrants of the conference are able to purchase the hard-copy version of the upcoming GAAR book: The General Anti-Avoidance Rule: Past, Present, and Future, published by the Foundation and edited by Brian J. Arnold, at a significantly discounted price.
Click here for details.

Thursday, July 15, 2021

10:50am
11:00am

Opening Remarks


11:00am
11:15am

INTRODUCTION
Nature and scope of the GAAR consultation; importance of private sector input; brief overview of the GAAR.

Heather L. Evans,
Canadian Tax Foundation, Toronto
Trevor McGowan, Department of Finance, Ottawa


11:15am
12:00pm

 

DEFICIENCIES AND REFORM ISSUES – TAX BENEFIT & REASONABLE TAX CONSEQUENCES

  • The definition of tax benefit
    - Dealing with increases in tax attributes (case law; determinations under s.152(1.11))
    - The role of counterfactuals (alternative transactions)
  • The determination of the reasonable tax consequence if the GAAR applies


John Sorensen, Gowling WLG (Canada) LLP, Toronto
Chris Sprysak, 
CA, Associate Professor, Faculty of Law, University of Alberta, Edmonton

Panel Moderator:
Marlene Cepparo, FCPA, FCA, KPMG LLP, Toronto


12:00pm
12:45pm

DEFICIENCIES AND REFORM ISSUES – AVOIDANCE TRANSACTION

  • The purpose test in the definition of avoidance transaction
             I. Shift to one of the primary purposes test in some situations
            II. Eliminate the purpose test for transactions that are abusive
            III. Is the meaning of series of transactions for the GAAR appropriate?
            IV. Is the interpretation of subsection 248(10) for purposes of the GAAR appropriate? Should it be amended to eliminate retrospective contemplation?


Michael Kandev, Davies Ward Phillips & Vineberg LLP, Montreal
Geoffrey Loomer,
Associate Professor, Faculty of Law, University of Victoria, Victoria

Panel Moderator:
Heather O'Hagan,
Thomson Reuters, Toronto

12:45pm
12:55pm

Question Period 

12:55pm
1:15pm

 Health Break

1:15m
2:15pm

DEFICIENCIES AND REFORM ISSUES – MISUSE AND ABUSE

  • Is the misuse or abuse test in s. 245(4) still valid?
  • Can the identification of the object, spirit or purpose of the provisions of the Act be facilitated in some fashion? 
          I. What is the role of alternative transactions in determining the object, spirit or purpose of provisions of the Act?
         II. Should economic substance be written into the GAAR in some way?   
         III. Should factors indicative of abuse (circular transactions, temporary transactions, accommodation parties, contingent arrangements, etc.) be written into the GAAR in some way?
        IV. The possible use of rebuttable presumptions 
        V. Improving taxpayer certainty


Monica Biringer, Osler, Hoskin & Harcourt LLP, Toronto
Alexander Demner,
Thorsteinssons LLP, Vancouver
Michael Taylor,
Department of Justice, Vancouver


Panel Moderator:
Jinyan Li, Professor, Osgoode Hall Law School, York University, Toronto

2:15pm
2:25pm

Question Period 

2:25pm
2:45pm

Health Break

2:45pm
3:30pm

DEFICIENCIES AND REFORM ISSUES – OTHER ISSUES

  • Should the application of the GAAR be subject to a penalty, and if so what type of penalty?
  • Disclosure rules
  • Changes to the CRA’s administration of the GAAR

- Reform of the GAAR Committee

  • Other issues: relationship between SAARs and reform of the GAAR; drafting of tax legislation; subnational GAARs


Natalie Goulard, Department of Justice, Montreal
Khashayar Haghgouyan,
Associate Professor, Faculty of Law, Université Laval, Québec
Sabrina Wong,
KPMG Law LLP, Toronto

3:30pm
3:35pm

 Question Period 

3:35pm
4:15pm

FINAL THOUGHTS & FUTURE DIRECTIONS

 

Deen Olsen, Department of Justice, Ottawa
Douglas Powrie, Teck Resources Ltd., Vancouver
Jeffrey Trossman, Blake, Cassels & Graydon LLP, Toronto


Panel Moderator: Brian J. Arnold, Canadian Tax Foundation, London

4:15pm

 Adjournment
Program is subject to change. Please check back frequently for the most up-to-date version

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