Recently, the Supreme Court of Canada released its decision in Daishowa-Marubeni International Ltd. v. Canada, a case that has been followed with great interest by industries affected by legislated reclamation regimes, particularly in the oil and gas sector. The taxpayer was unsuccessful at both the Tax Court and the Federal Court of Appeal, with both courts holding that an amount in respect of assumed reclamation obligations should be included in a vendor’s proceeds of disposition of property. The SCC granted the taxpayer leave to appeal and allowed written and oral arguments from interveners representing the forestry and oil and gas industries.

To view to the video, please click here.