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29 July 2019- 10:58pm Kim – Federal Court of Appeal indicates that a taxpayer may not be able to avoid a s. 163(2) penalty even where the Crown does not have its own witnesses Email this Content The taxpayer, who had claimed substantial fictitious business losses based on an unintelligible theory espoused by the “Fiscal Arbitrators” tax preparers, stated at the outset of the trial that the only issue being pursued by him was the gross negligence penalties. ...

7 August 2019- 4:08am Prairielane – Tax Court of Canada finds that a “main reason” for a stacked partnership structure was tax deferral rather than generating SBD tax savings Email this Content MacPhee J found that the main tax reason for implementing a stacked partnership structure for holding interests in a farm equipment dealership (prior to the introduction of s. 34.2 to cut off this type of planning) was to defer the recognition of corporate tax rather than to access the small business deduction. ...

14 August 2019- 11:51pm Canadian Home Publishers – Ontario Court of Appeal notes that under the LPA (Ont.) a limited partner on dissolution can only receive a return of its capital contributions Email this Content S. 24 of the Limited Partnerships Act (Ontario) provides that “unless the partnership agreement or a subsequent agreement provides otherwise,” on a partnership dissolution the residual assets are to go to the general partner excepting for the payment to the limited partner of its contributions and unpaid profits distributions. ...

18 August 2019- 10:39pm North American – Manitoba Court of Queen’s Bench comments briefly on s. 256(5.11) Email this Content Dewar J reversed a finding of the Manitoba Tax Appeals Commission that a corporation (“533”) was subject to de facto control (as described in ITA s. 256(5.1)) by Mr. ...

23 September 2019- 11:57pm Chen – Tax Court of Canada finds that a protective procedure allegedly carried out on the oral advice of the presiding physician did not qualify as prescribed by a medical practitioner Email this Content The taxpayer had stem cells harvested from the umbilical cord when she was delivered of her second son. ...

26 September 2019- 11:52pm Tedesco – Federal Court of Appeal finds that individual partners could continue their own appeals following discontinuance of the partnership’s similar appeal Email this Content CRA issued Notices of Determination to deny losses of a limited partnership (TSI). ...

21 October 2019- 12:42am CRA repeats that it generally denies a s. 113(1) deduction where Canco has failed to prepare surplus accounts – which failure also will preclude a late-filed Reg. 5901(2)(b) election Email this Content The 2019 IFA Conference (2019-0798761C6) dealt with the situation where Canco does not prepare detailed calculations of its various surplus and underlying tax balances in respect of a wholly-owned subsidiary (FA) from which it received a dividend, and claims a full s. 113(1) deduction for that dividend (without knowing how much is a deduction under s. 113(1)(a) rather than, say, s. 113(1)(d).) ...

27 October 2019- 11:25pm Gervais Auto – Court of Quebec confirms that a 10% interest rate on an unsecured loan was unreasonably high Email this Content The taxpayer financed its inventory of used automobiles held for resale through unsecured loans totaling $6 million from its shareholders, bearing interest at 10% p.a. ...

6 November 2019- 12:24am Stark International – Tax Court of Canada finds that a use test could be applied by looking beyond the property’s immediate intended use Email this Content In order to be Class 43 depreciable property, oil processing equipment of the taxpayer had to qualify as property acquired by the taxpayer to be used directly or indirectly by it in Canada primarily in processing goods for sale- and a similar test applied in determining whether the equipment was “qualified property” for investment tax credit purposes. ...

24 November 2019- 11:55pm Holland – Federal Court finds that a taxpayer could not challenge a CRA residency determination that had not yet been assessed Email this Content The taxpayer, who left Canada in 2004 and returned in January 2010, filed a voluntary disclosure application in July 2015 covering the period from 2004 to 2014, but did not file returns for 2005 to 2009, taking the position that for those years he was a non-resident. ...