Words and Phrases - "adventure in the nature of trade"

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Edwards v. Bairstow & Harrison, (1955), 36 TC 207, [1955] UKHL TC_36_207 (HL)

acquisition of spinning plant with a view to resale at a profit was an adventure in nature of trade

The taxpayers who were a director of a leather manufacturing company and an employee of a spinning firm, purchased a complete cotton spinning...

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MNR v. Taylor, 56 DTC 1125, [1956] CTC 189 (Ex Ct)

executive's substantial lead purchase with view to resale to employer/meaning of adventure

Because the parent corporation of the taxpayer's employer ("Canada Metal") prohibited Canada Metal from dealing in futures or purchasing lead...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Business purchase of large quantity of lead for resale was an adventure 127

Minister of National Revenue v. Freud, 68 DTC 5279, [1968] CTC 438, [1969] S.C.R. 75

Before finding that the taxpayer has sustained a fully deductible loss on advances which he had made to a business venture, Pigeon J. stated (pp....

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss loan loss sustained on speculative start-up venture 156

Wisdom v. Chamberlain (1968), 45 TC 92 (C.A.)

In finding that a gain resulting from the purchase of silver by the U.K. taxpayer in order to hedge against a devaluation of the pound was...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Commodities, and commodities futures and derivatives purpose for silver purchase was to profit from devaluation 192

MNR v. Mandelbaum, 62 DTC 1093 (Ex Ct)

individuals purchased mortgages in similar manner to dealers, so that an adventure

In finding that the purchase by individual shareholders of a company of mortgage receivables and conditional sales contracts owing to that company...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 16 - Subsection 16(1) no-application where mortgage receivables on income account 162
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Debt/ receivables 243

Quirinus C. Van Dongen v. Her Majesty The Queen, 90 DTC 6633, [1991] 1 CTC 86 (FCTD)

In finding that the taxpayer did not acquire two real estate properties in connection with an adventure in the nature of trade, Cullen J. stated...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 10 - Subsection 10(1) 87

R. v. Fogazzi, 92 DTC 6421, [1992] 2 CTC 321 (Ont. C.J. (G.D.)), rev'd 93 DTC 5183 (Ont. CA)

Before going on to find that the misappropriation by the accused of money received from Italian relatives did not give rise to income from an...

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Happy Valley Farms Ltd. v. The Queen, 86 DTC 6421, [1986] 2 CTC 259 (FCTD)

In determining "when a transaction, which is not itself a trade or business, can be held to be 'an adventure or concern in the nature of trade'...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate farmland gain of real estate developer 73

MNR v. Taylor, 56 DTC 1125, [1956] CTC 189 (Ex Ct)

purchase of large quantity of lead for resale was an adventure

A transaction whereby the taxpayer purchased lead and resold it to his employer at a gain was an adventure in the nature of trade -...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Commodities, and commodities futures and derivatives executive's substantial lead purchase with view to resale to employer/meaning of adventure 169