Concept
Indemnity
Colubriale v. Canada, 2005 FCA 329 / CRA finds that an indemnity given by a Canadian NRT beneficiary regarding a trust distribution received from the trustee did not cause s. 94(2)(d) to apply
"The Canadian-resident beneficiary of a factually non-resident trust (the “NRT”) will sign an indemnity, prior to the distribution by the NRT, which requires the repayment of the distribution to the trustee in the event that there should be a successful challenge against the trustee by any other beneficiary in respect of that distribution which requires the trustee to repay the amount of the distribution to the NRT. In finding that the signing of the indemnity would not cause s. 94(2)(d) to apply, CRA stated:"
Related Ideas
- Indemnity ApplicationDeyab v. Canada, 2020 FCA 222 · CRA finds that an indemnity given by a Canadian NRT beneficiary regarding a trust distribution received from the trustee did not cause s. 94(2)(d) to apply
- IndemnityChopp v. R., 98 DTC 6014, [1998] 1 CTC 407 (FCA) · CRA finds that an indemnity given by a Canadian NRT beneficiary regarding a trust distribution received from the trustee did not cause s. 94(2)(d) to apply