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. – Tax Court of Canada finds that the proceeds under s. 69(1)(b) of depreciable property were not reduced to the net FMV of the related business Email this Content The taxpayer, which produced and distributed breakfast cereals, sold that business to an affiliated Canadian company. ... In confirming CRA’s reassessment to increase the recapture of depreciation realized based on proceeds of disposition of $56.5 million, Spiro J stated: No text in the Act reflects an intention by Parliament to require taxpayers to use different methods for computing proceeds of disposition of depreciable property depending on whether the depreciable property was sold on its own to a non-arm’s length purchaser or as part of the sale of a business as a going concern. … [T]he fair market value of a business as a going concern plays no role in determining the proceeds of disposition, or consequential recapture, of depreciable property under the Act. ...

27 August 2024- 11:26pm Gorgis – Tax Court of Canada finds that the new housing rebate was available for an individual who split his time between 3 locations Email this Content The appellant (Gorgis) acquired a new house in Caledon East, Ontario in January 2019 at about the same time he was establishing a Toronto body shop (“Green Apple”), stayed there two to four nights a week and stayed most of the balance of the nights in a bed at Green Apple, or on a couch or a brother’s bed at his siblings’ house in Toronto. He did not move in a lot of belongings – but he did not have a lot. In August 2020, he leased out the balance of the house to tenants, but continued to live in the basement thereafter. ...

. – BC Court of Appeal finds that the taxpayer was required to disprove the Minister’s assumption as to a property’s FMV (based on its property assessment value) Email this Content The Crown pleadings in the appeal of the taxpayer (“118”) of a property tax assessment stated an assumption as to the property’s FMV (which had been determined as its assessed value as determined by BC Assessment), rather than the lower value inferred by the purchaser from a related share purchase agreement. ... Ltd., 2024 BCCA 380 under General Concepts – Onus, FMV- land. ...

20 January 2025- 11:16pm Bank of America – Federal Court of Appeal finds it reasonable of CRA to not extend an application deadline where the taxpayer failed to show due diligence Email this Content The Bank applied pursuant to ETA s. 141.02(19)(b)(ii) to CRA for an extension to the time for being able to apply to use a method for calculating its input tax credits (ITCs) that produced a better result than what it otherwise would have been entitled to. In dismissing the Bank’s appeal from a finding of the Federal Court that CRA’s rejection of this request was fair and reasonable, Mactavish JA found, regarding CRA’s finding that the Bank had failed to exercise the requisite degree of care respecting its filing obligations that would be expected of a sophisticated taxpayer, that “the Bank has not shown any reversible error with respect to this factually suffused finding” and also noted that “this Court has already determined that it is reasonable for the Minister to have regard to the diligence of a taxpayer in circumstances such as this: Denso Manufacturing … 2021 FCA 236”. ...

29 January 2025- 11:19pm Shull – Federal Court finds a breach of procedural fairness by the Tax Court did not require it to allow the taxpayer’s appeal Email this Content The taxpayer, who had limited ability to represent himself due to cognitive impairment, was using an agent in his Tax Court hearing until the agent (who had been identified in other proceedings as a vexatious litigant) resigned due to the expressed concerns of the Tax Court regarding such representation. ... Shull’s procedural fairness rights by refusing the adjournment” – but in nonetheless dismissing the taxpayer’s appeal applied the principle (in light of the weakness of the taxpayer’s case) that “where the result is inevitable, a court may exercise its discretion to not grant a remedy for the breach” of procedural fairness. ...

30 January 2025- 11:08pm Symco 2015 – Court of Quebec doubts that a restaurant renovation business was a similar business to a business of manufacturing decorative stone cladding Email this Content The taxpayer, which had been engaged in a business of manufacturing decorative stonework claddings, sold essentially all its assets in December 2012 pursuant to a bankruptcy proposal that had been accepted by its creditors, and terminated all its non-shareholder employees. ... In the opinion of the Court, this is, keeping in mind the words "substantially all” and “similar”, used by the Legislature in [the equivalent of s. 111(5)(a)(ii)(B)], in itself a significant obstacle for the plaintiff. … [Furthermore] there was a long period of inactivity, the evidence clearly illustrating that the [pre-AoC] company was at a standstill for quite some time. ...

17 February 2025- 11:49pm Structures GB – Quebec Court of Appeal finds that corporate reorganization documents could not be rectified to correct for an unforeseen Pt. ... Structures GB Ltée, 2025 QCCA 134 under General Concepts – Rectification. ...

18 February 2025- 11:21pm Matte – Tax Court of Canada finds that the settlement of forgivable advances to an employee for less than the outstanding amounts produced s. 6(15) income Email this Content The taxpayer, who was employed at a wealth management firm, had received over $1 million in interest-free loans (evidenced by promissory notes) from predecessors of his employer which, by their terms, were forgivable in the employer’s discretion as to 10% each year, and were required to be repaid as to the balance on termination of his employment. ... The King, 2025 TCC 16 under s. 6(15), s. 12(11) – investment contract and s. 248(26). ...

23 February 2025- 10:41pm DAC – Federal Court of Appeal refuses to allow a third party to intervene in the DAC (avoidance of CCPC status) case Email this Content The moving party (“QPG”) sought an order pursuant to Rule 109 of the Federal Courts Rules to permit it to intervene in the Crown’s appeal of the DAC decision, which found that there was no GAAR abuse in DAC continuing to the British Virgin Islands so as to cease to be a Canadian-controlled private corporation (CCPC). ... Before dismissing the motion to intervene, Stratas JA stated that “[t]he issue raised by QPQ … seeks to reinvent the theory of the case” and that “[t]his is a classic case of a proposed intervention that, if allowed, will commandeer the parties’ case.” ...

24 February 2025- 11:59pm Wong – Tax Court of Canada finds engages in a detailed weighing exercise to determine that two ex-spouses were shared custody parents Email this Content After initially denying the Canada child benefit (CCB) claims of the taxpayer in full (on the basis that it was her ex-husband who primarily fulfilled the care responsibilities for their son), CRA assessed her on the basis that they were “shared custody parents,” so that she was entitled to 50% of the CCB amounts. ... The King, 2025 TCC 24 under s. 122.6 – shared-custody parent. ...