Beaubier T.C.J.:
1 This appeal pursuant to the Informal Procedure was heard at Regina, Saskatchewan on February 16, 1998. The Appellant and Raymond Harding testified for the Appellant. The Respondent called an appraiser of farm property, John Grey to testify.
Rip T.C.J.:
Bonner T.C.J.:
1 This is an appeal from an assessment under the Income Tax Act (“Act”) for the Appellant's 1994 taxation year. In his return of income for that year the Appellant elected to report a capital gain on property (the Leland Hotel) owned by him on February 22, 1994. The designated proceeds of disposition were $150,000, the adjusted cost base was $61,000 and the elected capital gain was $89,000. The taxable capital gain, being 75% of $89,000 was $66,750.
Rouleau J.:
1 This is an appeal from a Tax Court of Canada decision dismissing the plaintiff's appeal concerning a notice of reassessment issued by the Minister of National Revenue (“the MNR”) for the 1980 location year in relation to the appropriation of funds of a corporation controlled by the plaintiff.
Archambault T.C.J.:
Bowman T.C.J.:
1 These appeals were heard together and concern assessments for the 1991, 1992 and 1993 taxation years. The issue is the deductibility of losses sustained by the appellants from the rental of property.
2 Marvin Saunders is an engineer with INCO Limited, Judith Saunders, his wife, teaches school. Their combined annual incomes in the years in question were over $100,000.
Tremblay-Lamer J.:
1 The Applicant seeks an Order of mandamus compelling the Respondent to issue to her, pursuant to subsection 152(1.1) of the Income Tax Act (Canada),[FN1: <p>R.S.C. 1952, c. 148, as amended.</p>] a Notice of Determination of Loss for her 1987 taxation year in an amount not less than $260,460.
Tremblay T.C.J.:
Linden J.A.:
1 The question to be decided on this appeal is whether a sophisticated financing plan to obtain for Shell Canada Ltd. (Shell) 100 million U.S. dollars, (US$) utilizing a “Kiwi” loan and certain hedging transactions, has succeeded in reducing the tax that otherwise would be payable.
Stone J.A.:
1 The appellant, a corporation without share capital, was incorporated under the laws of Ontario by Letters Patent dated September 11, 1985, for the following purposes:
(a) To educate the public and encourage an awareness and understanding of social justice conditions;
(b) To interact with local development and justice organizations as well as churches and missions to further such educational programs.
