I support the initiative to revisit the GAAR for purposes of making it more effective. I find the Modernizing and Strengthening the General Anti-Avoidance Rule Consultation Paper (“GAAR Consultation Paper”) helpful in providing some background and context for diagnosing the issues and setting out some proposed solutions. I appreciate the opportunity to offer some comments on two specific questions raised in the Consultation Paper:
(a) How to clarify the object, spirit and purpose of provisions of the Act?
(b) What is the role of economic substance in strengthening the GAAR?
Li, Jinyan, "Hallmarks of Abusive Transactions and the Role of Economic Substance: Comments on Modernizing and Strengthening the General Anti-Avoidance Rule Consultation Paper" (2022). All Papers. 345.