PSI

Overview of general anti-avoidance rules This information is relevant to you if both of the following apply: The PSI rules were introduced to prevent the diverting, alienating, or splitting of income with other individuals or entities in an attempt to pay less tax. The general anti-avoidance rules (GAAR) may still apply if you are a PSB and the PSI rules don’t apply. For the GAAR to apply to your arrangement, there must be a sole or dominant purpose to obtain a tax benefit. When the GAAR may apply The GAAR may apply where there are factors indicating that the dominant purpose of the arrangement is to obtain a tax benefit by diverting, alienating, or splitting your PSI or retaining profits in […]