Section 147

Where a corporation controls a partnership which in turn owns all the shares of an employer, the corporate partner will not be considered to deal at arm's length with the employer, and the controlling partner's share in the profits of the partnership will be considered to be profits from the business of the (partner) corporation.

Funds in an DPSP cannot be split on a marriage breakdown given the prohibition against assignment in s. 147(2)(e). If funds are paid directly to a spouse or former spouse of a participating employment, the payment must be made at the request and direction of the employee and reported on a T4A as the employee's income.

Although a pension plan could have two separate trusts relating to two sets of defined benefit provisions, if the plan was adequately funded an employer would not be able to make a contribution on the basis that assets relating to one of the defined benefit provisions were deficient.

Where contributions are made by a Canadian employer to a registered pension plan in respect of an employee who has moved to the United States but continues to be employed in Canada by it, the fact that the individual is also an employee a U.S. company will not by itself affect the deductibility of the amounts paid by the Canadian company.

Even if a deferred profit sharing plan can be considered primarily "an agreement to issue shares", the treatment under s. 147 is more specific and, therefore, paramount to the provisions of s. 7.