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He also maintained school horses of his own for the purpose of providing equitation lessons. 3.03 The income and expenses for the years 1972 to 1977 were as follows: Gross Income Expenses Losses 1972 $13,023.32 $26,404.68 ($13,381.36) 1973 $21,748.05 $31,111.47 ($ 9,363.42) 1974 $24,974.87 $31,992.55 ($ 7,017.68) 1975 $ 5,696.50 $21,148.40 ($15,451.90) 1976 NIL $18,202.38 ($18,202.38) 1977 NIL $10,506.00 ($10,506.00) (Exhibit R-1) 3.04 The gross income is detailed as follows: Rent Sundry Total Total 1972 $12,679.00 $ 344.32 $13,023.32 1973 $20,256.86 $1,491.19 $21,748.05 1974 $22,739.58 $2,235.29 $24,974.87 1975 $ 5,681.50 $ 15.00 $ 5,696.50 (Exhibit R-1) 3.05 On June 4, 1973, the Government of the Province of Ontario announced its “Parkway Belt” proposals, and the farm owned by the Hibberds was included in the Parkway Belt area. ... However, the main expenses claimed for the years under appeal were as follows: 1976 1977 1977 Car and truck expenses (75%) $2,049.21 $1,409 Insurance $1,222.00 $1,324 Rent $1,810.00 $2,720 Professional services $ 560.00 $ 908 Phone $ 667.29 $ 574 Capital Cost Allowance of Truck and Tractors $2,068.16 — (Exhibit R-1) 3.13 Mr and Mrs Hibberd testified that after 1975, they still intended to operate a horse boarding venture somewhere else. ... Law — Cases at Law — Analysis 4.01 Law The main provisions of the Income Tax Act, SC 1970-71-72, c 63, as amended, involved in the present case are paragraphs 18(1)(a), 18(1)(h) and subsection 248(1) (definition of “farming” and “personal or living expenses”). ...

. /* 3. The Facts 3.1 The appellant was at all material times the principal shareholder of Donald E Keller Limited since May 1, 1970. 3.2 Donald E Keller Limited made payments to Victoria and Grey Trust Company in the amount of $1,572 of interest in each of the appellant’s 1971, 1972 and 1973 taxation years, in respect of a mortgage secured by the appellant’s personal residence. ... Other loans were made in the following years until the incorporation, as it appears in Exhibit A-1: ANALYSIS OF V & G MORTGAGE ADVANCES Date Personal Business Total 1959 Original Mtge $ 2,079 $ 4,921 $ 7,000 1963 Increased Mtg by — 6,180 6,180 1968 Increased Mtg by — 7,530 7,530 Total advances to date $ 2,079 $18,631 $20,710 Percentages 10% 90% 100% 3.7 On March 5, 1968, an indenture in pursuance of the Short Form of Mortgages Act, between the mortgagor (the appellant and his wife, Joyce Keller, joint tenants) and the mortgagee (Victoria and Grey Trust Company) was signed concerning an amount of $15,000 (Exhibit R-1). 3.8 The different loans were made to buy equipment. ... Law — Jurisprudence — Comments 4.1 The most important subsection of the new Act concerning the case at bar is 15(1) (subsection 8(1) of the old Act). ...

Sale Location Location Sale Sale Lot Lot Selling # Date Date Size Size Price St Vincent Township 1 Part Lot 3, Cone. 1 1970.46 acres $ 2,995 2 Part Lot 3, Cone. 1 1970.46 acres $ 2,695 3 Part Lot 10, Cone. 1 1970.05 acres $ 3,320 4 Part Lot 10, Cone. 2 1971.05 acres $ 3,100 5 Part Lot 10, Cone. 2 1970.46 acres $ 2,845 6 Part Lot 10, Cone. 2 1970.68 acres $ 2,695 7 Part Lot 10, Cone. 2 1972 2 acres $10,000 8 Part Lot 11, Cone. 2 1970.09 acres $ 2,500 9 Part Lot 11, Cone. 2 1969.09 acres $ 2,000 10 Part Lot 11, Cone. 3 1972.67 acres $ 7,750 11 Part Lot 11, Cone. 3 1973.67 acres $ 8,500 12 Part Lot 2, Cone. 4 1969 1.03 acres $ 2,500 13 Part Lot 10, Cone. 5 1969.57 acres $ 2,700 14 Part Lot 10, Cone. 5 1970.57 acres $ 2,700 VALUATION Sale Location Location Sale Lot Lot Selling Date Size Size Price 15 Part Lot 18, Cone. 11 1970.46 acres $ 2,000 16 Collingwood Twp. 1971 1.67 acres $ 5,000 17 Collingwood Twp. 1971 1 acre $ 6,000 18 Collingwood Twp. 1970.96 acres $ 5,300 19 Collingwood Twp. 1972.09 acres $ 7,500 20 Collingwood Twp. 1970.84 acres $ 3,695 21 Collingwood Twp. 1972.84 acres $ 5,500 22 Collingwood Twp. 1972 1.36 acres $ 6,000 The above referenced sales represent vacant residential building lots located throughout St Vincent Township, as well as the north end of Collingwood Township. ... Lots 6, 7, 11, 12, 13, 14, 16 and 36 1 4,500.00 per Lot or: 8 Lots @ 4,500.00 $ 36,000 Lots 1-5, 15, 17-19, 24-31, 33-35, 37-40 $ 3,500.00 per Lot, or: 24 Lots @ 13,500.00 $ 84,000 TOTAL $120,000 Respectfully submitted, D W Egerton, A.I.M.A., A.A.C.I. ... I should here like to cite Exhibit A-12 which was filed by the appellant which clearly sets forth the Revenue Canada V-Day values, Mr Egerton’s V-Day values and the year and price each lot was sold: ELWOOD F HOLMES — TAX APPEAL Lot Sales Revenue Canada Egerton Year Sold Reassessed V-Day Values V-Day Values Sale Price 1 $ 690 $ 3,500 76/$20,000 2 690 3,500 77/11,000 4 690 3,500 75.$10,000 5 690 3,500 74/$7,500 6 $1,790 4,500 74/$4,500 12 3,499 4,500 74/$4,500 13 3,499 4,500 74/$5,000 15 576 3,500 74/$4,500 17 576 3,500 75/$8,000 18 576 3,500 75/$10,000 19 576 3,500 77/$10,000 25 1,544 3,500 76/$11,00 26 1,554 3,500 77/$11,000 30 1,140 3,500 76/$11,000 31 1,140 3,500 76/$10,000 33 1,448 3,500 74/$5,000 34 1,448 3,500 74/$5,000 35 1,538 3,500 74/$5,000 36 3,890 4,500 74/$5,000 37 1,440 3,500 74/$5,000 38 1,440 3,500 74/$5,000 39 1,440 3,500 74/$6,000 40 1,440 3,500 74/$6,000 Totals 23 lots $33,324 $84,500 $169,000 Average Value per Lot $ 1,449 $ 3,674 Average Sale Prices per Lot: 1974 (13 lots ★ $68,000) $ 5,231 1975 (3 lots ★ $28,000) $ 9,333 1976 (4 lots ★ $41,000) $10,250 1977 (3 lots * $37,000) $10,667 Notes: 1. ...

No profit was in fact realized in the first five years of operation, as stated by the respondent in his reply to the notice of appeal The figures are not contested: 4 (f) The farming operation incurred the following farming losses: Year Income Income Expenses Loss Loss 1976 $2,360.00 $ 4,129.69 $ 1,769.69 1977 $2,350.00 $ 7,087.00 $ 4,737.02 1978 $3,760.01 $10,833.20 $ 7,073.19 1979 $1,741.83 $11,396.98 $ 9,655.15 1980 $2,782.55 $15,650.49 $12,867.94 The 1981 taxation year also showed a loss of some $9,000. ...

The partnership of Roux, Morin and Langlois in addition had four full- time employees at December 31, 1972: — Mrs Yolande Capobianco, a secretary with the firm since 1964; — Mr Jean Daigneault, an architectural draftsman with the firm since 1962; — Mr Joseph Fiore, an architectural draftsman with the firm since 1957; — Mr Serge Perras, an architectural draftsman with the firm since 1964; 6. ... The Montreal partnership had a diverse clientele, primarily composed of: — school boards, — cities and towns, — religious orders, — private and public corporations, — individuals and — promoters. 11. ... Both calculations (either before or after taxes) give a minimum figure of $159,000. 4.4.3 Current Contracts Method It was explained, using the books with $388,000 worth of orders (contracts signed before December 31, 1972, but not begun or not completed) that an architect who took two years to complete these contracts would realize net profits of $183,000: — gross fees $388,000 — operating costs (40 per cent) 155,000 — net profits before architect’s salary $233,000 — architect’s salary for two years 50,000 — net profits $183,000 Hence this figure of $183,000 only represents current contracts, and does not take into account other intangible assets existing in the partnership. ...

According to the appellant, he would have had to have 2 “Chevettes” to cover the distance he did. 3.12 According to the appellant’s tax returns, his net income was as follows: 1971 nil 1972 $ 242.00 1973 $3,268.92 1974 $2,288.24 1971 $ 521.25 1972 $3,186.14 1973 $2,714.54 1974 $4,050.88 3.13 His wife, until her death in 1973, worked and helped the appellant with common expenses. ... Because of the reasons given, the Board considers the following figures reasonable: 1972 1973 1973 1974 1974 Living expenses $5,100 $5,100 $5,100 Entertainment allowance $ 900 $1,080 $1,250 Car expenses: gasoline $1,700 $1,700 $1,700 maintenance $ 750 $ 750 $ 750 depreciation nil $1,950 $1,365 4.6 If the taxpayer had collected all his supporting documents, he would probably have arrived at these figures. ... Therefore, the Board feels that it is fair to reduce the expenses by 50% (the case cited above reduced it by 70%). 4.7 Whereas the claimed expenses were considered excessive in the following amounts: 1972 1973 1973 1974 1974 Living expenses $1,620 $2,150 $2,400 Entertainment allowance $ 600 $.720 $ 750 Car expenses: gasoline $ 642 $1,065 $1,450 maintenance $ 450 $ 750 $1,050 Whereas 50% of the expenses considered reasonable, allowed above, equals approximately 30% of the total expenses, and this was allowed by the respondent; the Board accordingly concludes that there is no reason to change the notices of reassessment established by the respondent. 5. ...

Two notes appear at the bottom of this financial statement, and read as follows [translation]: Note 1 — This financial statement has been prepared for tax purposes only. Note 2 — Mr Eustache Laflamme sold his farm on November 1, 1976 to his sons Does and Germain. 3.12 The appellant’s balance sheet is also attached to the return. ... Act — case law — analysis 4.01 Act Sections 3, 9(1) and 10(1) of the Income Tax Act are the principal legislative provisions involved in the case at bar. ...

The lease was for five years plus two five-year options (Exhibit A-1-16 — Lease). ... (Testimony of I Adelson, p 102-103) 3.39 By admission from counsel for the respondent, Mr Adelson’s testimony with respect to the first payment, ie, $15,000 for Granby, was made equally applicable to the other two payments and his testimony was corroborated by Mr David Nussbaum (Testimony of I Adelson, p 107 and testimony of D Nussbaum, p 116). 3.40 By notices of reassessment for its 1976 and 1977 taxation years and by notice of assessment for its 1978 taxation year, the payments were allocated by the respondent in the following manner: Amounts received from the Shopping Centres to be used to reduce rental expenses as follows: Year Granby Granby Terrebonne St-Jérôme Total Total (1) (2) (3) d) 1975 $ 902.00 — — $ 902.00 1976 983.52 $ 4,833.00 — 6,816.52 1977 983.52 7,000.00 $ 1,800.00 9,783.52 1978 983.52 7,000.00 3,600.00 11,583.52 1979 983.52 7,000.00 3,600.00 11,583.52 1980 1,830.60 7,000.00 3,600.00 12,430.60 1981 2,000.00 1,167.00 3,600.00 6,767.00 1982 2,000.00 — 3,600.00 5,600.00 1983 2,000.00 — 600.00 2,600.00 1984 2,000.00 — — 2,000.00 1985 332.32 — — 333.32 $15,000.00 $34,000.00 $20,400.00 $70,400.00 3.41 The basis for the respondent’s treatment of these payments is explained by Mr Roy in his testimony where he states: Q Pourriez-vous expliquer à la Commission sur quels faits le Ministère s’est fondé pour arriver à la conclusion que ces montants étaient en fait une réduction de loyer? ... British Insulated & Helsby Cables Ltd v Atherton, [1926] AC 205; 29. ...

In 1969 Warwick Bros & Rutter Co Ltd, Karr's Inc, Mutual Wholesale Stationery Limited, Viscount Plastics (Canada) Limited and Bedisco Inc were also purchased, and I believe the appellant company caused another company, Bel-Air Stationers Ltd, to be incorporated. 5 In general, through its wholly-owned subsidiaries, the appellant company dealt in stationery for schools and offices, and in general business supplies, and each of the companies acquired either specialized in a certain type of stationery, or had a name favourably well known in that field of business not only locally but in other parts of the country. 6 In 1969 the appellant became a listed public company. ... This statement was part of the auditors' report to the directors of the appellant company by Peat, Marwick, Mitchell & Co, Chartered Accountants, dated May 21, 1970, and was presented in slightly different form from the annual report to the shareholders filed as part of Exhibit A-3. 11 Fanco Products Inc was a manufacturer of brief-cases, attaché cases, binders and schoolbags. ... Stewart & Morrison Limited, a decision of the then Exchequer Court of Canada ([1970] C.T.C. 431, 70 D.T.C. 6295) upheld by the Supreme Court of Canada ([1972] C.T.C. 73, 72 D.T.C. 6049), as reported at page 438 [6299]: The question for determination is what was the true nature of the advances that made up the amount claimed as a deduction by the respondent. ...

The gross farming income from 1969 to 1977 is as follows (Exhibit A-27): 1969 Rent $ 1,400 1970 Rent $ 2,250 1971 Rent $ 4,525 1972 Rent $ 3,225 1973 Sales $13,025 1974 Sales $ 8,025 1975 ’? ’? 1976 Sales $ 7,770 1977 Sales $ 4,700 3.37 Neil Young also explained that in 1970/1971 he obtained a licence for and operated a snowmobile sports ranch. ... On the plan was also printed the following: Phase I — Royal Highland Estates — 40 lots (min. size — 2 acres) begin 1971 — 100 acres Phase II — Royal Highland Golf & Country Club — 18 hole course — begin 1973 — 160 acres Mr Neil Young testified on the one hand that he personally prepared the plan, and on the other hand that he did not know what the inscription concerning “Phase I” and “Phase II’’,, and even the figure of “260 acres” meant. ...