Mahoney,
J.A.:—This
application
for
judicial
review
seeks
to
set
aside
a
decision
of
the
Tax
Court
which,
on
the
respondent's
motion,
quashed
the
applicant's
appeal
against
his
1988
income
tax
assessment
on
finding
that
the
notice
of
appeal
disclosed
no
arguable
ground
of
appeal.
Before
the
Tax
Court,
the
applicant
abandoned
all
stated
grounds
of
appeal
except:
The
calculation
of
the
capital
gains
tax
is
invalid
because
it
employs
units
of
different
value
interchangeably
without
reducing
them
to
a
common
denominator
(equivalent
of,
for
example,
subtracting
Swiss
francs
from
pounds
Sterling
without
allowing
for
the
difference
in
value)
to
yield
capricious
results
including
tax
on
actual
capital
losses
in
certain
cases.
The
essence
of
the
proposition
is
that
because
of
the
fluctuating
purchasing
power
of
the
Canadian
dollar,
the
true
selling
price
of
an
asset
when
disposed
of,
expressed
in
terms
of
the
Canadian
dollar,
simply
does
bear
a
straight
line
relationship
to
its
cost
when
acquired
with
Canadian
dollars.
In
other
words,
for
example,
if
an
asset
was
bought
in
1980
and
sold
in
1990,
the
purchasing
power
of
the
Canadian
dollar
having
fallen
over
the
decade,
the
simple
arithmetic
difference
between
the
purchase
and
selling
prices
does
not
express
the
true
gain
or
loss,
While
we
do
not
question
the
validity
of
the
proposition
as
a
matter
of
sound
economics
or
in
terms
of
perfectly
equitable
taxation,
we
share
the
view
of
the
learned
Tax
Court
Judge
that
the
issue
is
not
justiciable.
He
did
not
err
in
concluding
that
it
was
not
arguable
that
the
respondent
had
erred
in
assessing
by
failing
to
take
account
of
the
difference
in
purchasing
power
of
the
Canadian
dollar
at
the
time
of
acquisition
and
disposition
of
the
relevant
capital
assets.
We
do
not
find
it
necessary
to
deal
with
the
respondent's
submission
that
we
are
without
jurisdiction
to
entertain
this
application.
The
application
will
be
dismissed.
Application
dismissed.
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