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The Importance of the Issues – Rule 147(3)(c) [21] These appeals represented the first time that the Supreme Court of Canada’s decision in Friedberg (involving the deductibility of losses on straddle trades using commodity futures contracts traded on a public exchange) [13] had been considered in the context of forward foreign exchange contracts entered into between counterparties dealing with one another over the counter (i.e., dealing privately rather than on the public market). [22] These appeals also represented the first time that the Supreme Court of Canada’s decisions in Stewart and Walls (involving the determination of the existence of a source of income) [14] have formed the foundation of the Crown’s argument in the context of straddle trades modelled after those used in Friedberg. [23] The highest levels of the Canada Revenue Agency (“CRA”), including the Commissioner’s office, were extensively involved in the audit that resulted in the reassessments at issue. [15] The Commissioner’s office does not generally become involved with matters that the CRA considers unimportant. [24] Finally, the case was important enough for the Department of Finance to mention it in the 2021 Budget when discussing a proposal designed to ensure that the CRA would be able to reassess certain types of avoidance transactions within the normal reassessment period. [16] 4. ... Award of Costs to the Appellant [45] Based on my assessment of all the relevant factors, and having considered the written submissions of the parties, I award the Appellant costs in a lump sum of $2,241,025 reflecting 45% of the Appellant’s legal fees of $3,365,500 ($1,514,475) and its disbursements, as adjusted, of $726,550. [26] Signed at Toronto, Ontario, this 17th day of June 2021. ...

By notice of determination (refund) dated November 20, 1987, Revenue Canada, Customs and Excise, denied the plaintiff's refund claim on the basis that the telephone directories were considered to be produced under the conditions outlined in subsection 28(1) of the Excise Tax Act. ... Also counsel cited jurisprudence involving other taxing statutes, some of them provincial, where the meaning of "use" has been considered. ...

—Notwithstanding paragraph 20(1)(c), in computing the taxpayer’s income for a taxation year from a business or property, no deduction shall be made in respect of any amount paid or payable by the taxpayer in the year and after 1971 as, on account or in lieu of payment of, or in satisfaction of, (a) interest on borrowed money used to acquire land, or on an amount payable by him for land, or (b) property taxes (not including income or profits taxes or taxes computed by reference to the transfer of property) paid or payable by him in respect of land to a province or a Canadian municipality, if, having regard to all the circumstances, including the cost to the taxpayer of the land in relation to his gross revenue, if any, therefrom for that or any previous year, the land cannot reasonably be considered to have been, in that year, (c) used in, or held in the course of, a business carried on in the year by the taxpayer, or (d) (Repealed, 1974-75-76, c. 26, S. 7(2)), (e) held primarily for the purpose of gaining or producing income of the taxpayer from the land for that year, except to the extent that the taxpayer's gross revenue, if any, from the land for that year exceeds the aggregate of all other amounts deducted in computing his income from the land for that year. 4.02 Case Law The parties referred the Court to the following case law: 1. ... /n particular, this implies that the enactment's object must be considered. ...

It is submitted that the substance of the transactions, considered in light of economic and commercial realities and a common sense appreciation of the guiding features, was a disposition by the appellant of the leasing assets to 693396 Ontario Ltd. and 693397 Ontario Ltd. for proceeds of disposition of $147,828,983. 24. ... It would do no credit to our system of justice in Canada if the courts were restricted in their consideration of the merits of a case by an ill-considered admission that is inconsistent with another position that is being advanced, particularly where it is sought to withdraw such an admission at an early stage in the proceeding. ...

The fact that Primrose chose to overlook the separate corporate existence of Bernard Feinstein Inc. in the manner in which the letter is drawn is not in my view sufficient to conclude that all of the company’s income, not only from this contract but from all other contracts entered into verbally with other manufacturers should be considered as income of Mr. ... Consequently, the Minister correctly considered the income arising from the two contracts as that of Mr. ...

.), considered that a statutory trust” under the Payment of Wages Act lacked the essential element of certainty of property to constitute a conventional or “real trust". ... Thus, Henfrey must be considered in the context of a bankruptcy and a claim under provincial legislation presuming to change priorities under the Bankruptcy Act, while the case at bar is one of conflicting claims of a secured creditor on a receivership in an insolvency and a statutory trust under federal legislation. ...

Before either warrant was obtained, what other means of investigation were considered? ... With respect, the issues to be considered in addressing the above concerns hardly parallel those facing Mr. ...

Within a very short period of time, Richard Sniderman, my accountant, raised issues about the business which I had not considered and on the basis of a police investigation, the business was abandoned; 9. ... Harper also stated that once the R.C.M.P. advised him of the value of the ivory he considered suing the individuals and went so far as to retain counsel in New York. ...

One must add to that fact the viva voce evidence of the appellant himself that there were other expenses involved that were not claimed and that capital cost allowance was not even considered. ... These are only factors that must be considered in the whole picture. The evidence further satisfies me that there was no change from a personal use to a business use of this property and the expenses are therefore not deductible. ...

The present situation is not at all on all fours with the facts considered by Judge Brulé of this Court in the case of William G. ... The facts in the present case are in some significant respects different from those considered by Judge Kempo in the Simons case, supra. ...