Search - considered

The appellant is thus personally liable for the unpaid duties, even though in the circumstances this consequence may seem harsh. 14 I have considered and rejected as untenable the submission that the appellant is liable only for duty attributable to the $5,000 legacy. ...

Plaintiff's counsel also submitted that, in order for subject transaction to be considered a trading transaction, it was necessary to find an intention in this plaintiff to resell at a profit, and that on the facts here present no such intention had been established. 24 A number of cases were cited to me by counsel but the two decisions which I consider to be most applicable to the case at bar are the Taylor case[FN2: <p><em>MNR</em>v<em>James A Taylor</em>, [1956] C.T.C. 189, 56 D.T.C. 1125. ...

The reality is that a standby charge calculated in accordance with section 6(2) may actually exceed what is otherwise considered a fair price for an employee's personal use of an employer's automobile. 21 I hasten to acknowledge that the taxpayers' argument would have been persuasive had they leased their cars at the same rates and on the same terms as are available to arm's length consumers. ...

The cases which have considered the term“retiring allowance” are therefore of some assistance. ...

The Court considered that this was not an omission under circumstances amounting to gross negligence. ...

Legislation 19 Section 146 of the Act, dealing with RRSPs, reads in part as follows: (1) In this section, (g) “qualified investment” for a trust governed by a registered retirement savings plan means (i) an investment that would be described in any of subparagraphs (i) to (ix) (except subparagraphs (iii) and (vi)) of paragraph 204(e) if the references therein to a trust were read as references to the trust governed by the registered retirement savings plan, (ii) a bond, debenture, note or similar obligation of a corporation the shares of which are listed on a prescribed stock exchange in Canada, (iii) an annuity described in paragraph (i.1) in respect of the annuitant under the plan, if purchased from a person licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada an annuities business, and (iv) such other investments as may be prescribed by regulations of the Governor in Council made on the recommendation of the Minister of Finance; (10) Where at any time in a taxation year a trust governed by a registered retirement savings plan (a) acquires a non-qualified investment, or (b) uses or permits to be used any property of the trust as security for a loan, the fair market value of (c) the non-qualified investment at the time it was acquired by the trust, or (d) the property used as security at the time it commenced to be so used, as the case may be, shall be included in computing the income for the year of the taxpayer who is the annuitant under the plan at that time. 20 Regulation 4900 of Part XLIX, dealing with deferred income plans qualified investments reads in part: (6) For the purposes of subparagraphs 146(1)(g)(iv) and 146.3(1)(d)(iii) of the Act, except as provided in subsections (8) and (9), a property is a qualified investment for a trust governed by a registered retirement savings plan or a registered retirement income fund at any time if at that time the property is (a) a share of the capital stock of an eligible corporation (within the meaning assigned by subsection 5100(1)), unless the annuitant under the plan or fund is a designated shareholder of the corporation; (b) an interest of a limited partner in a small business investment limited partnership; or (c) an interest in a small business investment trust. 21 Regulation 4900(12) was added by P.C. 1994-1074, SOR/94-471, dated June 23, 1994, applicable after December 2, 1992. 22 Regulation 4901, dealing with interpretation, reads in part as follows: (2) In this Part, “designated shareholder” of a corporation at any time means a taxpayer who at that time (a) is or is related to (i) a specified shareholder of the corporation, or (ii) a person who would be a specified shareholder of the corporation if, in applying the definition “specified shareholder” in subsection 248(1) of the Act, a person who has a right under a contract, in equity or otherwise, either immediately or in the future and either absolutely or contingently, to or to acquire shares of the capital stock of a corporation were deemed to own those shares, and one of the main reasons for the existence of the right may reasonably be considered to be that the person not be regarded as a specified shareholder of the corporation, unless the aggregate of amounts, each of which is the cost amount of any share of the capital stock of the corporation or any other corporation that is related thereto that the taxpayer owns or is deemed to own for the purposes of the definition “specified shareholder” is less than $25,000, (b) is or is related to a member of a partnership that controls the corporation, (c) is or is related to a beneficiary under a trust that controls the corporation, (d) is or is related to an employee of the corporation or a corporation related thereto, where any group of employees of the corporation or of the corporation related thereto, as the case may be, controls the corporation, except where the group of employees includes a person or a related group that controls the corporation, or (e) does not deal at arm's length with the corporation. 23 In subsection 248(1) of the Act, a specified shareholder is defined as: “specified shareholder” of a corporation in a taxation year means a taxpayer who owns, directly or indirectly, at any time in the year, not less than 10% of the issued shares of any class of the capital stock of the corporation or of any other corporation that is related to the corporation and for the purposes of this definition, (a) a taxpayer shall be deemed to own each share of the capital stock of a corporation owned at that time by a person with whom he does not deal at arm's length, (d) an individual who performs services on behalf of a corporation that would be carrying on a personal services business (within the meaning of paragraph 125(7)(d)) if the individual or any person related to the individual were at that time a specified shareholder of the corporation shall be deemed to be a specified shareholder of the corporation at that time if he, or any person or partnership with whom he does not deal at arm's length, is, or by virtue of any arrangement, may become, entitled, directly or indirectly, to not less than 10% of the assets or the shares of any class of the capital stock of the corporation or any corporation related thereto. 24 Section 251 of the Act reads in part: (1) For the purposes of this Act, (a) related persons shall be deemed not to deal with each other at arm's length; and (b) it is a question of fact whether persons not related to each other were at a particular time dealing with each other at arm's length. (2) For the purpose of this Act “related persons”, or persons related to each other, are (a) individuals connected by blood relationship, marriage or adoption; (b) a corporation and (i) a person who controls the corporation, if it is controlled by one person, (ii) a person who is a member of a related group that controls the corporation, or (iii) any person related to a person described in subparagraphs (i) or (ii). 25 Part LI of the Regulations deals with deferred income plans investments in small business. ...

We have considered the operating statements of the registered business and, allowing for a reasonable salary, no profit remains that could represent any kind of commercial goodwill. 8. ...

On the other hand, he considered that between 3,000 and 3,500 bricks would have been necessary for the front of the building. ...

He did not consider all of the factors he should have considered, nor did he assess the context fully. ...

However, the Minister's counsel told the Court that the plaintiff's position is anomalous, and that it in fact has other remedies which ought to have been considered. ...