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Tax Court of Canada renders decision on taxation of break fees

  • Fasken Martineau DuMoulin LLP
  • -
  • Canada
  • -
  • May 24 2012

On February 24, 2012, the Tax Court of Canada ("TCC") rendered its decision in Morguard Corporation v. Her Majesty the Queen (2012 TCC 55 PDF) on the issue of the taxation of break fees received in the context of a takeover bid pursuant to a "lock-up agreement"