Minutes of settlement are the written, signed agreement that records the terms on which a Tax Court of Canada appeal is resolved without trial. They typically set out how each issue is dealt with, the resulting adjustments, the treatment of costs, and the disposition of the appeal — usually that the matter is referred back to the Minister for reassessment in accordance with the minutes.
Because a tax settlement must rest on a principled basis — a result the law and the facts can support — the minutes are drafted with care, as they govern the corrected reassessment the CRA will issue. They are the instrument that turns a negotiated resolution into a binding outcome.