Search - connection

The question of benefit or no benefit in the 1965 taxation year is, in my view, primarily a question of fact in connection with which the onus of proof was on the appellant.... 24 The principles above stated established by the Kennedy case (supra) were followed by my brother Addy, J in the case of The Queen v Frank Leslie, [1975] C.T.C. 155, 75 D.T.C. 5086. ...

It was established in this appeal that the payments made to the wife in the first three years of the agreement were exclusively interest payments on the mortgage. 26 In the light of the facts of this appeal, and the case law cited at the hearing dealing with the essence of maintenance and alimony payments, I conclude that the payments of interest and capital on the $65,000 mortgage given by the husband to his estranged wife in the years 1968, 1969 and 1970, though they may have been the result of a transfer of assets to ensure the financial security of the wife and child, were not alimony payments within the meaning of paragraph 11(1)(l) of the Act, and are not deductible as such by the husband. 27 In deciding that the payments made by the husband to his wife in the years pertinent to this appeal in connection with the said mortgage were not periodic maintenance payments made pursuant to a written agreement within the meaning of the Act and therefore not deductible by George Douglas Allen, I feel that I have determined the pertinent issue in this appeal. ...

Mr Berman was no doubt involved in various trading transactions in the said land ever since 1959. 17 However, other than oral statements of Mr Berman that he had had long negotiations with Ivanhoe and Steinberg's in connection with the shopping centre project, the appellant produced no evidence which might contradict the facts as they appear on the written record or which might even indicate that Mr Berman, at that period of time, was one of the promoters of, or that he was in any way involved with, the development of the shopping centre; and there is, of course, even less evidence, written or oral, that might indicate that Mr Berman's purpose in 1959 in acquiring Jay-El-Jay and Norman Holdings' minority interest in the undivided land was to invest in the development of a shopping centre. ...

Specifically, the Appellant anticipated that his income from advertising and sponsorships would increase as his driving performance improved. 9 The Appellant's basic position is also found in that same appeal document, which he claims expenses incurred by him in connection with his professional racing operations were incurred for the sole purpose of gaining or producing income from a business or property. ...

He referred the Board to subsection 27(2) which states as follows: 27. (2) This section does not apply in determining the value of any security on which no closing price or quotation is obtainable as provided in subsection (1), or determining the value of (a) any share in, or in the capital stock of, or (b) any other security in the nature of an interest in or right to any of the proceeds, profits, capital assets or other assets of, any corporation, association, partnership or syndicate that, immediately prior to the death of the deceased, was controlled, whether through holding a majority of the shares thereof or other voting interest therein or in any other manner whatsoever, by the deceased, by the deceased and one or more persons connected with him by blood relationship, marriage or adoption or by any other person on his or their behalf. 11 In that connection he also referred the Board to Tabco Timber Ltd v The Queen, [1971] S.C.R. 361, in which case Martland, J states: The rule should allow the Court to admit evidence of such sales as it finds, in place, time and circumstances, to be logically probative of the fact to be found. 12 Written submissions were also made as to the value of the shares being based upon book value per share basis rather than on a cash flow per share or earning per share basis. 13 The evidence has revealed that at the time of Mr Raymond's death, CDC possessed 60,000,000 square feet of land and consequently, being in the business of selling land, this tract of land was a very valuable stock-in- trade. 14 Counsel for appellant contended that to appraise the shares' value, one should look at the cash flow value which has been established at $1.53 per common share by Mr Caty. 15 In answer to this contention, counsel for the respondent submitted that the appellant's cash flow analysis reveals many errors enumerated as follows: 1. ...

In this connection, it seems worth reproducing the following passage from the submissions of the appellant's agent accompanying his letter of April 26, 1996: [TRANSLATION] The fundamental question is whether a taxpayer should be penalized on account of a lack of knowledge of the tax rules by the person representing him and because of a delay in acting to take advantage of the provisions of the Act regarding RRSPs. ...

I believe instead that his activities in connection with raising horses and calves during the three taxation years in issue were a hobby for him. ...

.: The appeal from the assessment made under the Income Tax Act (the “ Act ”) for the 1989 taxation year is allowed and the matter is referred back to the Minister of National Revenue for reconsideration and reassessment on the following basis: (a) the taxable capital gain of the taxpayer for the year 1989 is $107,115.52, as calculated on Schedule “A” attached hereto; (b) the Minister shall not assess any penalties in connection with the omission of this taxable capital gain from the 1989 tax return; and (c) the taxpayer shall be entitled to the capital gains deduction for the 1989 year under section 110.6 of the Act. ...

.: 1 These appeals concern the Appellant's claim to be entitled, when computing his income under section 3 of the Income Tax Act (the Act), to deduct from his other income the losses sustained by him in connection with renting two apartments. ...

During 1987, the Appellant suffered losses because he owned directly or indirectly a significant number of shares of Omnibus, and he had guaranteed a bank loan in connection with the acquisition of Omnibus shares. ...