Special thanks to Caroline Elias, associate at Minden Gross LLP, for her assistance in reviewing earlier versions of the Series and to Joan Jung, tax partner at Minden Gross LLP, from whose presentations and papers I've borrowed liberally. All errors and omissions are my own.
Part 1 of this Series2 reviewed what is meant by control for purposes of the Income TaxAct (Canada) (the "Act") and also reviewed some of the key tax implications of control under the Act. In this second instalment of the Series, we'll delve into some additional tax rules regarding the application of control in the Act and we'll examine tools to determine de jure control ("DJC"), with an emphasis on the impact that a unanimous shareholders agreement ("USA") can have on DJC.
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