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made a gift to a non-qualified donee

By Drache Aptowitzer LLP | 4 Minutes Read July 8, 2013

If they were so prescient, how come they did not see that coming?

On May 1st, 2013 the Federal Court of Appeal issued its judgment in the Prescient Foundation. The case itself was notable not simply because of the decisions rendered by the Court on the questions in issue, but also (and perhaps primarily) because of the standard of the review analysis conducted by the Court. Those us who have appeared before the Federal Court of Appeal know that the standard of review can in fact decide the case and so of all the issues decided by the Court this might perhaps have the greatest long term impact on future litigation in the charities area.

Article by Drache Aptowitzer LLP / Finance and Accounting, Not for Profit / benefit of the charities, books and records, Canada Revenue Agency, Canadian registered charity, Charities Directorate, CRA, Foundation, Income Tax Act, landmark case for charities, litigation in the charities area, made a gift to a non-qualified donee, non-charitable gift, purchase and sale of certain farm assets, sale transactions, standard of review, tax exempt status of the charity, tax planning arrangement, tax treaty

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