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22 February 2022- 11:02pm Fyfe – Tax Court of Canada rejects a CRA position that a taxpayer who regularly reported business income was not carrying on a business Email this Content The taxpayer spent approximately six months per year doing work for one client (mostly construction and repair work), and the balance of the year sailing in the Bahamas. ... CRA denied his WITB claims on the surprising basis that he had no source of income and, therefore, no income – rather than on the basis that he was under-reporting his income. ... The Queen, 2022 CCI 20 under s. 122.7(1) – working income – para. (c). ...

14 June 2018- 12:02am Dusablon – Court of Quebec finds that a couple who renovated a house without moving in were ineligible for the principal residence exemption Email this Content Two individuals acquired a house in Montreal in a dilapidated condition for $695,000, spent $350,000 on having substantial renovations made, and put the property up for sale seven months after its acquisition at a price of $1,250,000, which was achieved in a sale two months later. ... Agence du revenu du Québec, 2018 QCCQ 3032 under s. 54 – principal residence – (a). ...

16 June 2019- 9:38pm CRA indicates that subjecting dividend income paid to a preferred beneficiary to TOSI accords with tax policy – but that it’s easy to avoid the designation Email this Content As noted re Q.13, CRA considers that the exclusion from para. ... Summary of 7 June 2019 STEP CRA Roundtable, Q.14 under s. 120.4(1) – split income – s. ...

29 September 2019- 10:13pm Wardlaw – Tax Court of Canada notes that the effective s. 163(2) penalty rate can exceed 50% where there has been a loss carryback Email this Content The taxpayer claimed a fictitious business loss of over $357,000, and requested that the excess of the claimed loss over what he could use in the current year be carried back to the prior three years. ... The Appellant may wish to consider making an application for a reduction of the penalty and interest under … subsection 220(3.1) …. ...

26 July 2022- 12:11am Thinaddictives – Court of Quebec finds that a contribution of capital by a US shareholder was incorrectly recorded as debt, and reversed thin cap assessments Email this Content The Canadian taxpayer (“Thinaddictives”), which was initially formed by its US parent (“Nonni”) with nominal issued share capital, received approximately $19 million from Nonni to fund the cash portion of the purchase price for an asset acquisition. $10 million of this was clearly interest-bearing debt, but the balance of around $9 million did not have any resolution or other legal documentation establishing its character. ... Agence du revenu du Québec, 2022 QCCQ 3029 under s. 18(5) – equity amount – (a)(ii). ...

27 December 2022- 8:57pm Axamit Versa – Tax Court of Canada finds that the GST registration number need not be set out in a document issued to the ITC claimant by the supplier Email this Content The ARQ denied input tax credits claimed by Axamit for its 2015 year regarding GST charged by its landlord, because Axamit had not provided the ARQ with any document issued by the landlord as the ARQ considered to be required by the definition in Input Tax Credit Information (GST/HST) Regulations of “supporting documentation.” ... The King, 2022 CCI 163 under Input Tax Credit Information (GST/HST) Regulations – s. 2 – supporting documentation and ETA s. 223(2). ...

14 May 2023- 10:27pm Prospera Credit Union – Tax Court of Canada finds that a credit union, although not an authorized MFT unit distributor, earned GST-exempted fees for doing most of the work Email this Content A credit union (“Westminster”), which was not authorized to sell mutual fund units or securities to its members, entered into “participation agreements” with two arm’s-length companies (“CAMI” and “CSI”) which were so authorized, pursuant to which Westminster employees nominally became employees or representatives of CAMI or CSI and became licensed and trained to sell securities, while remaining essentially full-time employees of Westminster working under its supervision. ... The King, 2023 TCC 65 under ETA s. 123(1) – financial service – (r.4). ...

11 June 2023- 11:22pm River Cree Resort – Federal Court of Appeal finds that a supply to an ATM owner was the location rather than cash loaded onto the ATM Email this Content The owner and operator of a casino resort (“River Cree”) agreed with the owner of ATMs (“Access Cash”) which, in turn, had access to the Interac payment network of a network operator, that it would make various locations on its resort available for the siting of Access’ ATMS, load those ATMs with its own cash (for the later reporting periods at issue) or with money borrowed by it from Access Cash (for the earlier periods) and provide the utilities, security, routine maintenance and customer support necessary to operate the ATMs. ... Canada, 2023 FCA 130 under ETA s. 123(1) – financial service – (a). ...

. – BC Court of Appeal finds that an acquisition of a BC residential property by a foreign entity merely as agent for a resident was subject to 20% LTT Email this Content The respondent (“108”) was a BC company whose shareholder was a foreign national (Mr. ... Ltd., 2025 BCCA 110 under PTTA, s. 1 – taxable transaction – (a)(i). ...

Turning to the Crown’s less frivolous argument that the repairs were capital expenditures, he stated (at para. 50): … The repairs effected by the Appellant did not result in the creation of a different capital asset than what was there before. … They were meant to bring the property to the state that it previously was. ... He and his spouse flew down to Las Vegas on a vacation, but he then rented a car so that he could drive down to Phoenix (accompanied by his spouse) so that he could attend to issues regarding the rental unit – then they flew directly from Phoenix back home (in Vancouver). ... The Queen, 2021 TCC 5 under s. 18(1)(a) – income –producing purpose, s. 18(1)(b) – capital expenditure v. expense – improvements v. repairs, s. 3(a)- business source and s. 18(12). ...