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Federal Court of Appeal rules Alberta firm’s restructuring was not abusive tax avoidance — yet

Thursday, June 14, 2018 @ 10:48 AM | By Ian Burns

The Federal Court of Appeal has overturned a lower court decision that said an Alberta company’s corporate restructuring was done solely to confer tax benefit to the company’s main shareholder as no financial gain had yet been realized, but opened the door for the tax authorities to look at the situation in the future should the shareholder make any steps to benefit financially from his actions.

Perry Wild was the sole shareholder of P.W. Rentals Ltd. (PWR), an Alberta company that rents oilfield equipment. As of...