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8 June 2014- 11:28pm Francis & Associates – Tax Court of Canada finds that substantively-correct bad debt deductions cannot be claimed in an amended return Email this Content Due to problems with its accounting system, a law firm did not discover until late in 2005 that billings made in 2002 to 2004 and which had become bad in those years had not been written off in the accounts.  ... Summary of Francis & Associates v. The Queen, 2014 DTC 1146 [at 3468], 2014 TCC 137 under s. 20(1)(p)(i). ...

3 November 2013- 10:48pm D & D Livestock – Tax Court finds that stock dividends could be used to double-up on safe income Email this Content The safe income on hand (SIOH) of the holding company (HLL) for the taxpayer in respect of its shares of the taxpayer included safe income of $1.0M earned directly by the taxpayer and a further $0.5M earned in respect of a 50% shareholding (RTI shares) held by a subsidiary of the taxpayer (Newco 3). ... Summary of D & D Livestock Ltd. v. The Queen, 2013 TCC 318 under s. 55(2). ...

17 December 2019- 12:03am Dow & Duggan – Tax Court of Canada finds that CRA does not have the discretion to stipulate the documentary requirements for direct-shipment export zero-rating Email this Content Sched. ... Summaries of Dow & Duggan Log Homes International (1993) Limited v. ...

28 August 2019- 12:28am Frank A Smart & Son Ltd – UK Supreme Court indicates that input credits were available for fund raising costs of a taxable business Email this Content CRA may take the view that GST/HST costs incurred in raising funds, e.g., through issuing shares or debt, will not give rise to input tax credits in the absence of relief under ETA s. 185(1), because the first order supply being made is an exempt financial service. ... Summary of Revenue and Customs v Frank A Smart & Son Ltd (Scotland) [2019] UKSC 39 under ETA s. 141.01(2). ...

25 January 2021- 11:10pm Stonehouse Group – Ontario Court of Appeal considers “the principle that governments have the right to legislate illogically” to be “not … persuasive” Email this Content As a result of being reassessed to deny the carryback of a loss, the taxpayer was required to pay the reassessed taxes – but, following success in its objection, later was refunded the tax. ... It is also not a principle of statutory interpretation to be readily invoked. … The language in s. 79(7) is not unambiguous when read in its entire context. While it is not necessary to resort to it in this case … there remains “a residual presumption in favour of the taxpayer” …. ...

20 February 2016- 11:38pm The s. 248(1) – “disposition” – para. (n) exemption for upstream non-resident mergers is narrower than the s. 87(8) rollover Email this Content Where there is a merger of two foreign corporations whose shares are taxable Canadian property (because of an underlying Canadian real estate or resource sub), s. 87(8) may provide rollover treatment – but there still could be a share disposition giving rise to s. 116 filing and withholding requirements unless the para. ... Summaries of Gordon Zittlau, “Corporate Reorganizations Involving Taxable Canadian Property – Foreign Merger Considerations,” International Tax Planning (Federated Press), Vol. XX, No. 3, 2015, p. 1407 under s. 248(1) – “disposition” – para. (n), and s. 87(8). ...

21 January 2016- 10:43pm Scheuer – Federal Court of Appeal indicates that investors in a gifting tax shelter might be better off suing their own advisors – rather than CRA for issuing a tax shelter number Email this Content The taxpayers, who participated in the same gifting tax shelter as Ficek, sued CRA for negligence in issuing a tax shelter registration number to the promoter and in not warning them of potential problems. ... …The above conclusions … reflect that the performance of statutory duties does not generally give rise to private law duties of care. ... Scheuer, 2016 FCA 7, under General Concepts – Negligence. ...

8 August 2021- 10:57pm Gélinas – Court of Quebec finds that a Montreal site qualified as a special work site for a 3 ½ year project Email this Content The taxpayer, who had purchased a house in Richmond, Quebec in 1999 to reside there with his family, worked for his employer (“GPH”) as a project engineer regarding the construction or expansion of factories. Although normally, on such projects, the client of GPH would pay the accommodation costs of the GPH employees who worked on the project, that was not the case for a project for one of the clients in the Montreal area (about 90 minutes from Richmond), which started in 2014 and lasted for 3 ½ years. ... In finding that these amounts were not includible in the taxpayer’s income pursuant to the Quebec equivalents of ITA ss. 6(6)(a)(i) and (b)(i), Lapierre JCQ stated: [T]he fact that the wife and one of the children of the couple also lived in the Longueuil apartment is not very important …. … Mr. ...

18 October 2017- 1:13am Plains Midstream – Tax Court of Canada finds that s. 16(1) operates symmetrically (no creditor interest – no debtor interest deduction) Email this Content To over-simplify somewhat, Amoco agreed to assume a $225M loan that was due in perhaps 43-years’ time and that was effectively non-interest-bearing (or more precisely, only bore interest to the extent of oil production from the Beaufort Sea) in consideration inter alia for the payment to it of $17.5 million by the debtor. ... In denying any interest deduction, he stated: The language used in subsection 16(1) of the ITA stating that the payment is “deemed to be interest on a debt obligation held by the person to whom the amount is paid or payable” reflects Parliament’s intention that both parties receive symmetrical treatment. … [N]o part of the amount that is due by the Appellant can reasonably be regarded as interest that is payable to APCJ under the terms and conditions of the … loan. … [I]t is unthinkable that Parliament would have intended the asymmetrical treatment proposed by the Appellant as this would open the door to transactions in which one party receives a tax benefit and the other party receives a non-taxable payment, resulting in a one-sided tax expenditure. ... The Queen, 2017 TCC 207 under s. 16(1) and s. 54 – adjusted cost base. ...