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Investment Q&A

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Q: Greetings:
I know because it has been mentioned countless times that you are not tax experts, but perhaps you can help. When does a section 85 form need to be filed and when not? In the case of IPL, PWF, Uranium participation by Sprott Uranium Trust it is necessary, but not with score media and Penn. Perhaps it depends if it is a merger or acquisition, and what determines this. Perhaps the rules have changed in the last months. Thanks for your help.
BEN.

Asked by BEN on September 14, 2021
5i Research Answer:

The CRA description on Section 85 is about as clear as mud. But we do not believe it is eligible for cross-border purchases(i.e PENN buying SCR) and this seems to be the difference here.