McArthur T.C.J.:

1 These appeals were heard in Halifax on common evidence for the years 1988, 1989 and 1990. The Minister of National Revenue (the “Minister”) included in the Appellants' respective incomes, for each year, amounts paid to two trusts funds. The Appellants' sons were the sole beneficiaries of these trust funds. The money was advanced by way of dividends paid to the trusts by Brimar Developments Ltd. (Brimar) which was a corporation controlled by the Appellants.

Isaac C.J.:

1 This is an application for judicial review of a judgment of the Tax Court of Canada dated 17 May, 1996 dismissing the appellant's appeal from assessments made by the Minister of National Revenue under the Income Tax Act (“the Act”) for the years 1989 and 1990.

2 For the reasons that follow we are all of the view that the application cannot succeed.

Bowie T.C.J.:

McArthur T.C.J.:

1 These appeals were heard on common evidence with respect to the Appellants' 1991 and 1992 taxation years. The only issue to be decided is the fair market value of real property, on September 1, 1988.

Lamarre T.C.J.:

1 This is an appeal from an assessment for the appellant's 1986 taxation year. The issue concerns the profit he realized on the sale of a lot situated in Boucherville in 1986. The appellant reported this profit as a capital gain. The Minister of National Revenue (the “Minister”) ruled that the profit was business income.

Somers D.J.T.C.:

1 These appeals were heard at Toronto, Ontario, on March 11, 1997, pursuant to the Informal Procedure of this Court.

Mogan T.C.J.:

Christie A.C.J.T.C.:

Bowie T.C.J.:

Robertson J.A.: