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Demers therefore considered that the appellant had only purchased charitable receipts, since he had never seen or received the works and had never either selected or remitted those works to the donee organizations. ...

It must involve a high degree of negligence tantamount to intentional acting, an indifference as to whether the law is complied with or not. [39]         In deciding whether the Minister has established that gross negligence penalties should be applied, a number of factors have to be considered. ...

. ·         Subsections 237.1(1), (4) and (7.4) read: 237.1 (1)           Definitions- In this section, " person " includes a partnership; " promoter " in respect of a tax shelter means a person who in the course of a business (a) sells or issues, or promotes the sale, issuance or acquisition of, the tax shelter, (b) acts as an agent or adviser in respect of the sale or issuance, or the promotion of the sale, issuance or acquisition, of the tax shelter, or (c) accepts, whether as a principal or agent, consideration in respect of the tax shelter,       and more than one person may be a tax shelter promoter in respect of the same tax shelter; " tax shelter " means any property (including, for greater certainty, any right to income) in respect of which it can reasonably be considered, having regard to statements or representations made or proposed to be made in connection with the property, that, if a person were to acquire an interest in the property, at the end of a particular taxation year that ends within 4 years after the day on which the interest is acquired, (a) the total of all amounts each of which is (i)     an amount, or a loss in the case of a partnership interest, represented to be deductible in computing income in respect of the interest in the property (including, where the property is a right to income, an amount or loss in respect of that right that is represented to be deductible) and expected to be incurred by or allocated to the person for the particular year or any preceding taxation year, or (ii)     any other amount represented to be deductible in computing income or taxable income in respect of the interest in the property and expected to be incurred by or allocated to the person for the particular year or any preceding taxation year, other than any amount included in computing a loss described in subparagraph (i), would equal or exceed (b) the amount, if any, by which (i)     the cost to the person of the interest in the property at the end of the particular year, determined without reference to section 143.2, would exceed (ii)     the total of all amounts each of which is the amount of any prescribed benefit that is expected to be received or enjoyed, directly or indirectly, in respect of the interest in the property by the person or another person with whom the person does not deal at arm's length, but does not include property that is a flow-through share or a prescribed property.... (4) Sales Prohibited- No person shall, whether as a principal or an agent, sell or issue, or accept consideration in respect of, a tax shelter before the Minister has issued an identification number for the tax shelter.... (7.4) Penalty- Every person who files false or misleading information with the Minister in respect of an application under subsection (2) or, whether as a principal or as an agent, sells, issues or accepts consideration in respect of a tax shelter before the Minister has issued an identification number for the tax shelter is liable to a penalty equal to the greater of (a) $500, and (b) 25% of the total of all amounts each of which is the consideration received or receivable from a person in respect of the tax shelter before the correct information is filed with the Minister or the identification number is issued, as the case may be. ·         Subsection 231(6) and paragraph 231(6)(c) of the Regulations read: (6)         For the purposes of paragraph (b) of the definition "tax shelter" in subsection 237.1(1) of the Act, "prescribed benefit" in respect of an interest in a property means any amount that may reasonably be expected, having regard to statements or representations made in respect of the interest, to be received or enjoyed by a person (in this subsection referred to as "the purchaser") who acquires the interest, or a person with whom the purchaser does not deal at arm's length, which receipt or enjoyment would have the effect of reducing the impact of any loss that the purchaser may sustain in respect of the interest, and includes such an amount            ... ...

The Supreme Court of Canada recently considered such an interpretation in the case of Friesen v. ...

Since the appellants did not have an appropriate opportunity to present evidence that would be relevant, the argument will not be considered.   ...

No one can now seriously doubt that the degree of activity of a taxpayer, his efforts, and the amount of money expended are among the basic factors generally considered in determining whether the exercise by the taxpayer of any specific activity constitutes a business operation. ...

It is the actual legal situation which must be considered unless the legislation regarding tax avoidance in Part XVI of the Act is alleged, which is not the case here. ...

., as he then was, considered the concept of “sham” in Canadian law. He made the following observations: 57 However, courts have always felt authorized to intervene when confronted with what can properly be labelled as a sham. ...

The alternative argument could only be considered by this Court if the respondent had successfully established that Mrs.  ...

I do not indicate which way it ought to be, but I commend the Commissioners to consider what took place in the nature of organizing the speculation, maturing the property, and disposing of the property, and when they have considered all that, to say whether they think it was an adventure in the nature of trade or not.   ...