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Masny advised that “a visit be paid to the licensee to establish a combined Freight & Installation rate for their window coverings...” and he provided Ms. ... In Canada (Director of Investigation & Research, Combines Investigation Branch) v. ... T.D.). 19 (1983), 145 D.L.R. (3d) 385 (S.C.C.). 20 /</. at p. 400. 21 'The plaintiffs refer to the 1985 version of the Excise Tax Act, R.S.C. 1985, c. ...

l î J j ', 8 y year after receiving his notice of assessment, the defendant applied for an extension of time for objecting to the assessment. ... The taxpayer, of course, must be in a position when he reads the notice of assessment to know — or to be capable of knowing — the date or dates the corporation failed to remit so that he may consider whether he was a director at the time of the failure by the corporation. ... Upon receipt of the notice of assessment, he knew that if ne did not agree with the assessment, he must object and appeal under the provisions of the Act — and he did so. ...

Royalties — other than royalties to which article Ill ofthis Convention applies —— derived from one of the states by a resident of the other state shall be subject to tax only in the latter state. 2. ... In my opinion, a “made-for-T.V. movie" —— regardless of the media used — is a television program and not a motion picture film. ... There is, of course, the principle of statutory interpretation urged by the defendant that words of a statute be given a contemporary meaning consistent with section 10 of the Interpretation Act, supra, that “ he law shall be considered as always speaking”. ...

Had the designation been filed in accordance with the accountants’ instructions, it would have resulted in the realization of a capital gain of $389,553 [$700,000 (fair market value)- $270,978 (safe income)- $39,469(adjusted cost base) = $389,553]. ... The corporate taxpayer, however, must deduct an amount equal to the dividend in order to bring about this result [“Where a corporation... has received a taxable dividend... an amount equal to the dividend may be deducted from the income ”]. ... Edgar & J. Li, Mater- ials on Canadian Income Tax, 10th ed. (Toronto: Carswell, 1993) at 726-27. ...

. /?. [16] Mr. Justice Urie, for the Court of Appeal, in disposing of an appeal concerning whether income derived from a property management business was income from “a business other than an active business” within s-s. 129(4)(a) of the Act, commented: it Should be stressed that whether a business is an active or inactive one is, as earlier pointed out on the authority of the Rockmore case..., one of fact dependant on the circumstances of each case.... ... Initial arrangements necessary for incorporation of the company were made, including banking arrangements in New York for receipt of funds from Canada Permanent as initial capitalization (some $ 7 million dollars), to be exchanged for shares to be issued by B.V. on its creation; banking services in Amsterdam; arrangements for a tax ruling from Dutch authorities and later, for purchase of the Genstar note, for incorporation of B.V. and for appointment of its initial supervising directors. ... L-12, repealed by the Trust and Loan Companies Act, S.C. 1991, c. 45, s. 561. 3 ■ Canada Trustco Mortgage Co. v. ...

Justice McNair, after quoting paragraph 7(1)(a) and subsection 7(5), concludes that profits arising from such options are deemed to have been received as income ” provided that it was received in respect of, in the course of, or by virtue of the employment. ... If there were any doubt as to the intent of Night Hawk Resources Ltd. in granting the options it may be found in the preamble to the agreement which reads: * Whereas the Holders are Directors of the Company and in that capacity are devoting considerable time and effort to the affairs of the Company. ... Lord Denning had said ” the offer itself (the option) would not be a perquisite or profit, for it conferred only the expectation of profit, not any profit itself. ...

Perhaps the best expression of the principle involved is found in the case of Canadian Propane Gas & Oil Limited v MNR, [1972] CTC 566; 73 DTC 5019 in which Cattanach, J stated at 577 [5028]: I should think that “reasonable” as used in the context of paragraph 20(6)(g) does not mean from the subjective point of view of the Minister alone or the appellant alone, but rather from the point of view of an objective observer with a knowledge of all the pertinent facts. ... Making the same calculation at 11 % gives a valuation of $338,160.63 and at 12% of $293,813.91. ... Judgment might be given for the plaintiff on these facts alone. see also the statement of Cattanach, J in the Canadian Propane Gas & Oil case (supra) at 580 [5029] where he said: The onus of demolishing the Minister’s assumptions falls on the appellant and, in my view, for the reasons expressed, the appellant has failed to discharge that onus. ...

As Kerwin J, as he then was, pointed out in Montreal Light, Heat & Power Consolidated v MNR, [1942] S.C.R. 89 at 105; [1942] 1 DLR 596; [1942] CTC 1; 2 DTC 535; [1944] AC 126, [1944] 1 All ER 743; [1944] 3 DLR 545; [1944] CTC 94; 2 DTC 654, applying the principle enunciated by Viscount Cave in British Insulated and Helsby Cables, Limited v Atherton, [1926] AC 205 at 214; 10 TC 155, the usual test of whether an expenditure is one made on account of capital is, was it made “with a view of bringing into existence an advantage for the enduring benefit of the appellant’s business”. ... Compare IRC v Gardner Mountain & D’Ambrumenil, Ltd (1947), 29 TC per Viscount Simon at 93: “In calculating the taxable profit of a business... services completely rendered or goods supplied, which are not to be paid for till a subsequent year, cannot, generally speaking, be dealt with by treating the taxpayer’s outlay as pure loss in the year in which it was incurred and bringing in the remuneration as pure profit in the subsequent year in which it is paid, or is due to be paid. ... See Naval Colliery Co Ltd v CIR, supra, per Rowlatt, J at 1027: “... and expenditure incurred in repairs, the running expenses of a business and so on, cannot be allocated directly to corresponding items of receipts, and it cannot be restricted in its allowance in some way corresponding, or in an endeavour to make it correspond, to the actual receipts during the particular year. ...

Funk & Wagnail's definition is: "To lay or place, as something to be borne or endured; levy or exact as by authority, as to impose a tax, toll or penalty.” ... The defendant in 1964 had purchased most of the assets of Simard & Frères Cie Limitée and had undertaken to pay the seller's debts incurred prior to January 1, 1965. ... & J. 502 where he stated at 507-508: No universal rule can be laid down for the construction of statutes as to whether mandatory enactments shall be considered directory only or obligatory only with an implied nullification for disobedience. ...

Yours truly, E Sharp for Director — Taxation JAB/ep” The difference between the $2,042,407.68 and $1,987,547.19 represents the amount of drilling and exploration expenses originally allocated to the 1964 taxation year and subsequently disallowed by the Appellant. ... Subsequent to the said transfer of property the Respondent discontinued its business and did not carry on any business until after June 18, 1964. /. ... The cardinal rule of the interpretation of a statute so as to avoid giving it a retrospective operation and the established corollaries to such rule are succinctly stated by Wright, J in In re Athlumney, ex parte Wilson, [1898] 2 QB 547, to which both counsel referred me, where he said at pages 551, 552: Perhaps no rule of construction is more firmly established than this — that a retrospective operation is not to be given to a statute so as to impair an existing right or obligation, otherwise than as regards matter of procedure, unless that effect cannot be avoided without doing violence to the language of the enactment. ...