INCOME TAX
PRACTICE Appeal from Tax Court of Canada decision (2006 TCC 579) allowing taxpayer’s appeal against reassessment of income tax liability for 1997 taxation year—T.C.C. holding reassessment invalid as made beyond five-year limitation period prescribed by Art. XXVII(3) (Limitation Provision) of Treaty between Canada and Barbados—In August 2004, Minister including $659,974 in income of taxpayer on basis such amount constituted previously unreported foreign accrual property income (FAPI) of taxpayer for taxation year, within meaning of Income Tax Act, R.S.C., 1985 (5th Supp.), c. 1, s. 95(1)— FAPI provision stipulating Canada’s ability to tax FAPI inclusions in income of Canadian residents unfettered by any provision of Treaty—FAPI provision overriding limitation provision in respect of FAPI reassessment—Appeal allowed. CANADA V. CANWEST MEDIAWORKS INC. (A-524-06, 2008 FCA 5, Ryer J.A., judgment dated January 9, 2008, 7 pp.)