Armour Group Limited v. Canada, 2018 FCA 134 -- summary under Contract or Option Cancellation

Summary Under
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Contract or Option Cancellation
lump sum paid on the acquisition of a property subject to a ground lease to the purchaser group coupled with the ground lease surrender did not generate a lease termination deduction

A bare trustee (“FSL”) for the taxpayer (an investment and real estate company) had received a ground lease of property in downtown Halifax...

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Words and Phrases
option