CRA cannot assess statute-barred additional income following a notice of objection

Although s. 165(5) on its face states that the statute-barring rule does not apply to a reassessment made in response to an objection, Hogan J applied Anchor Pointe to find that s. 165(5) cannot be used to add income in a reassessment made beyond the normal reassessment period.

Dual findings - that a transfer of equipment, which the taxpayer previously had been licensing to his corporation free of charge, to the corporation was on capital account, yet was made in the course of commercial activity for GST purposes – may be reconcilable.

Neal Armstrong.  Summaries of Klemen v. The Queen, 2014 TCC 244 under s. 165(5), s. 9 – capital gain v. profit – equipment, ETA – s. 123(1) – commercial activity.