On March 13, 2020, the Supreme Court of Canada released its decision in MacDonald v. The Queen 2020 SCC 6, which outlines a new framework for determining whether a scrutinized transaction represents hedging or speculation for tax purposes. In reaching its decision, the Court cited Vern Krishna’s authoritative text, Income Tax Law, 2nd ed., and Jeremie Beitel’s Canadian Tax Journal case comment “Hedging Transactions—MacDonald Reversed”.
Please click here to read the full decision.