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Woods says that in fact the government at the time considered one of Canada’s most crucial needs to be the need for increased investment, particularly in early stage companies. ... What is the line which separates the two classes of cases may be difficult to define, and each case must be considered according to its facts; the question to be determined being-Is the sum of gain that has been made a mere enhancement of value by realising a security, or is it a gain made in an operation of business in carrying out a scheme for profit-making? ...

In making this determination, the intended use of the property in the year in which the expenditure was made as well as over its useful life will be considered. ... Interpretation Bulletins and Information Circulars, while not to be considered law can be very useful in interpreting the meaning of relevant legislation. ...

No all-inclusive statement can be made as to when a loan can be considered to be "genuine", but a written and signed acknowledgment of the loan by the borrower and agreement to repay it within a reasonable time ordinarily is acceptable evidence that it was so. ... Justice Kerr says at pages 287-88 (D.T.C. 5195): In the absence of any definition in the statute of the expression "capital cost to the taxpayer of property", and in the absence of the authoritative interpretation of those words as used in paragraph 11 (1)(a) insofar as they are being considered with reference to the acquisition of capital assets, I am of opinion that they should be interpreted as including outlays of the taxpayer as a business man that were the direct result of the method the adopted to acquire the assets. ...

Hyrman considered Cernik and Beran partners in the project but not shareholders of either corporation, although all three are identified as shareholders in tax returns of both Cheakamus and EMT. Beran considered himself a shareholder of EMT and had a verbal agreement with respect to Cheakamus. ...

Counsel for the respondent submitted that the jurisprudence is such, especially in light of recent decisions issued by the Federal Court of Appeal, that the appellant’s farm income was not, and could not have been, other than a sideline business, having regard to all of the factors to be considered. ... The Federal Court of Appeal then considered full farming losses in the case of Poirier Estate v. ...

Since it was admitted by the parties to the instant case that the loss which concerns us was a non-capital loss, the provisions of paragraph 111 (1)(a) and subsection 111 (3) of the Act must be considered in order to resolve this matter. ... Judge Tremblay also considered this question in Hanusch v. M.N.R., [1985] 1 C.T.C. 2022, 85 D.T.C. 34 (T.C.C.) at page 2025 (D.T.C. 36). ...

Justice Pigeon states at page 82 (C.T.C. 443, D.T.C. 5282): It is, of course, obvious that a loan made by a person who is not in the business of lending money is ordinarily to be considered as an investment. It is only under quite exceptional or unusual circumstances that such an operation should be considered as a speculation. ...

., 8 X $1,211 $9,688; (i) the employer charged the said disability benefits to its general ledger account #7202 "Maladie" (sickness); (j) the employer considered these disability benefits not to be taxable in the appellant's hands, and therefore made no deduction (of tax, etc.) and did not issue a T4 slip to the appellant in respect of these benefits; and (k) the appellant did not repay any portion of the said benefits received by him in the 1991 taxation year. ... The society was founded to assist its members and for all practical purposes may be considered as a pension and sick benefit plan following a schedule established by its board of directors. 3. ...

In terms of the evidence, no single factor is conclusively determinative of the issue and the surrounding circumstances must be considered, M.N.R. v. ... Ara Boyajian et al. analysis The factors that must be considered in relation to the stated intention of the appellants at acquisition include the type of acquisition, the feasibility of the project, the financing, the length of time the property was held, the historical pattern of property dealing, the determination of the operative mind(s) in the decision-making process, the degree of sophistication of the appellants in terms of property transactions and the amelioration of the property. ...

The following schedule represents the adjustments made by the Minister: Other Allowable Expenses 1986 Claimed Revised Adjustment Gross Income: (A) Ocean City $ 22,229 $ 22,229 0 (B) Island Home 0 0 0 Subtotal $ 22,229 $ 22,229 0 Expenses: (A) Paid Ocean City $ 6,504 $ 3,524 $2,980 (B) Paid Island Home 1,928 0 1,928 (C) Pager 463 0 463 (D) Other 869 0 869 (E) Auto 1,701 1,701 — Operating — Depreciation 175 175 0 Less: Personal (20 per cent) (375) (375) 0 Line 109: Other Allowable Expenses $ 11,265 $ 5,025 $6,240 New Commission $ 10,964 $ 17,204 $6,240 Conclusions — 1986 taxation year I have considered Esnouf's evidence relating to each category of expenses referred to in the schedule and reached the fol owing conclusions: (A) Paid Ocean City: $3,524, the amount allowed by the Minister, represents payment by Esnouf to Ocean City with respect to matters such as his share of advertising, cost of multiple listing books, office charges, telephone, real estate licence and so forth. ... There is no doubt that the amount allowed by the Minister is an arbitrary figure considered to be reasonable in the circumstances. ...