Linden J.A.:

Introduction

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.

Rip T.C.J.:

1 Alexander Stahl has applied for an order extending the time within which he may file with the Tax Court of Canada a Notice of Appeal in respect of a reassessment dated April 15, 1996 for the 1992 taxation year under subsection 227(10) of the Income Tax Act (“Act”).

Guenette Reg.:

1 This taxation came on for hearing by means of a telephone conference call on November 28, 1997. It follows a judgment of the Honourable Judge O'Connor, dated June 13, 1997, who allowed the appeal with costs. The Appellant represented himself, and the Respondent was represented by Mrs. Sanjana Bhatia.

• D. Other disbursements: $6,955 (supporting invoice attached).

McGillis J.:

Giles A.S.P.:

Teskey T.C.J.:

1 The Appellant in his Notice of Appeal, wherein he appeals his 1990, 1991 and 1992 assessment of income tax, elected the informal procedure.

Issue

2 The sole issue herein is whether F.D.I. Financial Development Inc. (“F.D.I.”), was the beneficial owner of certain rental properties or does it hold a one-half interest in the title to these properties in trust for, or as agent for, the Appellant herein.

Watson D.J.T.C.:

1 This appeal was heard in Belleville, Ontario, on June 6, 1997 under the Informal Procedure.

Desjardins J.A.:

1 This application for judicial review raises the issue of whether the mortgage interest charges on the respondent's old residence constitute moving expenses within the meaning of section 62 of the Income Tax Act (“the Act”).

Richard J.:

Nature of the Proceedings

1 The moving party, the respondent Minister of National Revenue, seeks an order striking out the originating notice of motion and dismissing the within proceeding for want of jurisdiction, lack of standing, prematurity and abuse of the process of this Court.