Search - connection

“Canadian resource property” of a taxpayer means any property acquired by him after 1971 that is, (i) any right, licence or privilege to explore for, drill for, or take petroleum, natural gas or other related hydrocarbons in Canada, (ii) any right, licence or privilege to prospect, explore, drill, or mine for minerals in a mineral resource in Canada, (iii) any oil or gas well situated in Canada, (iv) any rental or royalty computed by reference to the amount or value of production from an oil or gas well, or a mineral resource, situated in Canada, (v) any real property situated in Canada the principal value of which depends upon its mineral resource content (but not including any depreciable property situated on the surface of the property or used or to be used in connection with the extraction or removal of minerals therefrom), or (vi) any right to or interest in any property (other than property of a trust) described in any of subparagraphs (i) to (v) (including a right to receive proceeds of disposition in respect of a disposition thereof); 66.2 (1) A taxpayer shall include, in computing the amount referred to in paragraph 59(3.2)(c), the amount, if any, by which (a) the aggregate of all amounts referred to in subparagraphs (5)(b)(iv) to(ix) that would be taken into account in computing his cumulative Canadian development expense at the end of the year exceeds (b) the aggregate of all amounts referred to in subparagraphs (5)(b)(i) to (iii) that would be taken into account in computing his cumulative Canadian development expense at the end of the year Generally, these provisions of the Income Tax Act reflect the special tax treatment accorded to resource properties under the Act. ...

Vol. 3, 804, which decided that the notion of public policy to prevent a taxpayer to deduct fines or penalties did not apply in the Income Tax Act. [12]     I quote paragraphs 56, 64, 65, 66 and 69 of that decision: [56]       In this connection, I note that in calculating income, it is well established that the deduction of expenses incurred to earn income generated from illegal acts is allowed. ...

The appellant took the position that the amounts in question did not constitute business income but rather were non-taxable capital receipts received in connection with the expansion of the capital structure of its business. ...

Paragraph 11 (1)(e) is as follows: 11. (1) Notwithstanding paragraphs (a), (b) and (h) of subsection (1) of section 12. the following amounts may be deducted in computing the income of a taxpayer for a taxation year: (e) a reasonable amount as a reserve for (i) doubtful debts that have been included in computing the income of the taxpayer for that year or a previous year. and (ii) doubtful debts arising from loans made in the ordinary course of business by a taxpayer part of whose ordinary business was the lending of money; In Harlequin Enterprises Ltd v The Queen, [1974] CTC 838; 74 DTC 6634, affirmed [1977] CTC 208; 77 DTC 5164, Mahoney, J said: This deduction was sought in an appeal to the Income Tax Appeal Board in respect of its 1949 income tax assessment by a taxpayer with which the present plaintiff may have had some connection. ...

While NSLC makes an office available, most of his duties as Chairman are performed from his home office, making it a regular place of work in connection with these duties. ...

Moving expenses, as permitted by subsection 62(3), do not, as I see it, mean   outlays or costs incurred in connection with the acquisition of the new residence. ...

I agree that the meaning of the word “structure” must be determined in relation to its use in the paragraph in question here, but I think it is proper to consider what has been considered to be a structure in connection with other taxing statutes. ...

This is evident from the various dictionary definitions of the word “Royalty” when used in connection with a sum payable. ...

He quoted Thurlow, A.CJ. at page 15 (D.T.C. 5464): The money was not paid for changes in or additions to the appellant's premises or the buildings thereon or in connection with the structure of the appellant's business. ...

As regards any additional moneys required by open bulk during the term of this agreement, as established by its board of directors: (a) the parties hereto shall endeavour to obtain such amounts by way of loan from one or more banks, and each of the parties hereto shall, if required in connection with any such loan, guarantee the repayment thereof, and the payment of interest thereon, by open bulk; and (b) to the extent that such amounts cannot be obtained by way of loan from one or more banks, the same shall be provided to Open Bulk, as to one half by each of the parties hereto, either by way of loan payable on demand and bearing interest at the rate of five per cent per annum (or such other rate as the parties hereto may from time to time agree) payable yearly or by way of the purchase at par of non-cumulative, non-voting, redeemable preference shares of open bulk, and the parties hereto shall cause the increase of the authorized capital of Open Bulk, as and when required, to include any preference shares required for such purpose; provided that the aggregate amount guaranteed and provided by the parties hereto pursuant to this paragraph shall not exceed $200,000 or such greater amount as the parties hereto may from time to time agree. ...