By: David Crerar

In the recent cases of McNichol and RMM Canadian Entreprises, the courts have finally had the opportunity to consider section 245 of the Income Tax Act, also known as the 'General Anti-Avoidance Rule'. The author argues that the two decisions depart from the formalism of Stubart and the pre-GAAR regime, focusing instead on the substance of the impugned transaction ...


type Interpretation of GAAR: Before and Beyond McNichol and RMM