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The Queen, 2009 DTC 1395, 2008 TCC 427, aff'd 2010 DTC 5016 [at 6589], 2009 FCA 121-- summary under Subparagraph 152(4)(a)(i) Summary Under Tax Topics- Income Tax Act- Section 152- Subsection 152(4)- Paragraph 152(4)(a)- Subparagraph 152(4)(a)(i) sophisticated taxpayer failed to seek advice The taxpayer, who had retired from a long career of managing pension funds (and, therefore, was considered to be sophisticated), made a misrepresentation attributable to neglect when he claimed the enhanced capital gains disposition with respect to a sale by him of shares of a corporation which was controlled by non-residents (a fact of which he professed to be unaware) at a time that was less than two years from the date of his acquisition of the shares. ...

The Queen, 2006 DTC 2953, 2006 TCC 172-- summary under Subsection 50(1) Summary Under Tax Topics- Income Tax Act- Section 50- Subsection 50(1) no need to obtain independent assessment In finding that the taxpayer was entitled to claim business investment losses in respect of portions of amounts advanced to him by a company run by his wife and also to his an independent company, Sheridan J. stated (at p. 2956) that "the case law is clear that under paragraph 50(1)(a), either all or a portion of the debt may be considered bad" and rejected (at p. 2955) as "an unwarranted expansion of the duty imposed on the taxpayer" a submission of the Crown that the taxpayer ought to have obtained an independent assessment of the amount of the loss and of the company's potential resale value. ...

In accepting that the taxpayer has sustained an allowable business investment loss, Miller J. stated (at pp. 376-37): "I conclude that where a creditor could access financial information to assist in assessing the collectibility of a debt but chooses not to, the Court should take into account not only all the factors the creditor in fact considered, but the Court should also consider such financial information in assessing the reasonableness of the creditor's decision. ...

Although the joint venture (through its principal, the taxpayer) had considered the possibility of resale, this was not a motivating factor for the acquisition. ...

The Queen, 2006 DTC 2053, 2005 TCC 770-- summary under Subsection 152(4.1) Summary Under Tax Topics- Income Tax Act- Section 152- Subsection 152(4.1) In finding that a notice of reassessment that the Minister mailed to the wrong address within the six-month period referred to in s. 152(4.1) should not be treated as being made within that period, Bell J found that a notice of assessment mailed to the wrong address could not be considered to have been mailed for the purposes of s. 244(14). ...

The Queen, 2006 DTC 2053, 2005 TCC 770-- summary under Subsection 244(14) Summary Under Tax Topics- Income Tax Act- Section 244- Subsection 244(14) In finding that a notice of reassessment that the Minister mailed to the wrong address within the six-month period referred to in s. 152(4.1) should not be treated as being made within that period, Bell J found that a notice of assessment mailed to the wrong address could not be considered to have been mailed for the purposes of s. 244(14). ...

Paragraph 62(3)(c) is meant to include things that might not otherwise be considered "moving expenses. ...

After finding (at para. 55) that "the Points cannot be considered to be a gift certificate…as there is no fixed correlation between the Points issued and their use," Hershfield J went on to state obiter (at para. 60) that "Points can indeed by coupons even though they can only be used in fixed blocks that are sufficient to ensure that the taxable excess is always nil. ...

After rejecting (at para. 47) the Minister's submission "that the Points cannot be gift certificates for want of a stated or face value," Hershfield J stated (at para. 51) "that if the certificate entitles the holder to an identifiable supply, it can still be a gift certificate," and found (at para. 55) that here "the Points cannot be considered to be a gift certificate…as there is no fixed correlation between the Points issued and their use. ...

Decary, J. stated that in determining whether interest should be imputed on the payments to the taxpayer "the prime factor to be considered is whether or not the fair market value has been paid" and accepted the taxpayer's evidence that the purchase price for the property was equal to its fair market value. ...