Masson – Federal Court finds CRA reasonably declined to grant a late s. 85 election
In finding that it was reasonable for CRA to deny the taxpayer’s request to file a late s. 85(1) election respecting transfers made by him quite a number of years previously, Roussel J stated:
Considering that no evidence was presented to show the initial intention to proceed by rollover under subsection 85(1) of the ITA and that the errors of a third party do not constitute circumstances that justify a late election, it was open to the Minister’s representative to exercise her discretion to deny Mr. Masson’s late election.
Neal Armstrong. Summary of Masson v. Canada (Attorney General), 2019 FC 887 under s. 220(3).