Document Type

Book Chapter

Publication Date

2022

Source Publication

Arnold, ed. The GAAR: Past, Present and Future. Canadian Tax Foundation, forthcoming

Abstract

The “misuse or abuse” exception under subsection 245(4) of the Income Tax Act draws the line between acceptable and unacceptable tax avoidance. As a “safety valve” or “relieving provision,” this exception has proved to be the “most crucial and controversial single factor in the application of the GAAR.” Whether a transaction that lacks economic substance is subject to the general anti-avoidance rule (GAAR) is the question considered in this chapter.

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