Robertson
J.A.:
—
The
Tax
Court
Judge,
Christie
A.C.J.T.C.
held
that
the
respective
appellants
did
not
hold
their
condominium
for
the
purpose
of
producing
income
and,
therefore,
are
not
entitled
to
deduct
a
“terminal
loss”
stemming
from
its
ultimate
disposition,
as
provided
for
under
subsection
20(16)
of
the
Income
Tax
Act.
The
issue
before
us
is
clearly
a
question
of
fact.
We
have
not
been
persuaded
that
the
Tax
Court
Judge
erred
in
reaching
the
conclusion
that
he
did.
The
short
time
frame
in
which
the
appellants
held
their
condominium
with
the
intent
of
renting
it
does
not
undermine
his
conclusion
that
their
overriding
purpose,
determined,
objectively,
was
to
sell
what
had
been
their
principal
residence.
Nor
have
we
been
persuaded
that
the
condominium
was
held
in
the
course
of
an
adventure
in
the
nature
of
trade.
Accordingly,
the
respective
appeals
must
be
dismissed
with
one
set
of
costs.
Appeals
dismissed.
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