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Several plans were considered, architects were engaged to prepare sketches, and many discussions were held, on a continuing basis, by officers of the Bank. ... As the quadrilateral was built up, the Bank, if it wished to remain where it had been doing business since 1925, had to acquire some properties considered essential for its expansion. ...

In such circumstances, the new job criterion for determining the amount of the incentive payment would of course be replaced by some other more practical consideration. 15 In my opinion, all these criteria for determining the amount to be granted as an incentive, including the estimated number of new jobs to be created, are simply mathematical formulae used to arrive at a specific amount of incentive considered to be best or most useful in encouraging the building of new manufacturing facilities or in the expansion or modification of already-existing enterprises in designated areas. 16 There is no doubt that the purpose of the Regional Development Incentives Act is to promote the development of productive employment opportunities and to facilitate economic and social adjustment in certain designated areas. ... Such an amended calculation does not, in my view, constitute taxation of the incentive received. 20 I hold therefore that the whole amount of $124.584 received by the appellant as a development incentive under the Regional Development Incentives Act must, pursuant to paragraph 20(6)(h) of the Income Tax Act, be considered to have reduced the capital cost to the taxpayer of the facility in question and must be deducted from the actual capital cost of the property for purposes of calculating capital cost allowances, and therefore the Minister's assessments for the appellant's 1971 and 1972 taxation years are correct and the capital cost allowances allocated therein in respect of those should not be changed. 21 The appeal is therefore dismissed. ...

Counsel for the appellant contends that the oral rental agreement between the appellant and Mr Elliot included the use of the buildings from which the appellant received rental income and therefore should be considered as rental assets and not farm assets or alternatively he submits that a portion of the value of the buildings estimated by Mr Woods, a chartered accountant and the appellant’s auditor, as being approximately $7,428.00 should be attributed to the shed used by Mr Elliot and an adjustment made in the amount of recapture of the capital cost allowance. ... Alternatively, counsel for the respondent submits that if the drive shed is to be considered as rental property, the adjustment in the recapture of capital cost allowance should reflect the value of only that part of the shed which was rented to and used by Mr Elliot. ...

Thus, the respondent was entitled to disallow the married exemption claimed by the appellant. 4.2 The Board considered whether an exemption for Louise Di Césare in the amount of $1,492 might not be claimed under paragraph 109(1)(b) in view of the fact that she was wholly dependant upon the taxpayer and lived in the same establishment. ... In the case at bar, the Board is of the opinion that the respondent was justified in allowing the taxpayer to claim for his son Nicolas the exemption for a wholly dependent person set forth in paragraph 109(1)(b). 4.3 The Board also considered whether the appellant was entitled to the child care expenses set forth in section 63 of the new Act. ...

The grants are intended for professional artists; that is, those who have finished basic training or have the necessary competence to be considered as professionals within their discipline. ... (b) The appellant is considered as a very professional fine art artist of high quality. ... The quality of the appellant’s work, his degree of experience, and exposure are elements which were considered when the Burton Gallery made the decision to take him. ...

As a general rule, a taxpayer who takes commodity futures positions in, or who has transactions in, a commodity connected with his business, is considered to be trading as part of his business operations and the comments in paragraph 3 above apply. ... As an example, a jeweller who buys 100 ounces of gold for his business (a normal amount for his business) and also makes additional purchases of 1600 ounces of gold, or of futures contracts representing 1600 ounces of gold, as a speculation for his own account, may be viewed as a speculator with respect to the additional purchases when all the facts of the situation are considered. ... In J Camille Hare/ v DMR of the Province of Québec, 77 DTC 5438, the Supreme Court sanctioned the application of an administrative policy, but as the Court emphasized, the case was one where the said administrative policy did not conflict with the Act and where the Act itself is ambiguous. 5.5 In applying the usual principles, the Board concluded that the profit in question resulted from “an adventure or concern in the nature of trade” and was therefore to be considered a business-related profit. ...

Minister of National Revenue, [1980] CTC 2471, 80 DTC 1418 D E Taylor:—These are appeals heard on common evidence on March 21, 1980 at the City of Edmonton, Alberta, and are against tax assessments for the year 1974 in which the Minister of National Revenue allowed an amount of $37,216 to each of the appellants as a capital loss, but denied their claim that it be considered as a business loss. ... The question of the relationship between paragraphs 18(1)(a) and 18(1)(b) has been considered by the Courts on many occasions, but I would make specific reference to the precedent-setting judgment in British Columbia Electric Railway Company Limited v MNR, [1958] CTC 21; 58 DTC 1022. ... Since, however, that question does not arise if they fall within the prohibition of s 12(1)(b), this question should be first considered. ...

Moreover, the taxpayer purchased this property in order to diversify his investments, and had always considered property to be the safest security (Va/c/air, p 469, line 7). ... It is on the basis of this statement and his testimony in general that the circumstances surrounding the purchase and sale of the asset in question should be considered. ... Mr J Alzire Tardif would certainly not have considered purchasing property for the first time in his life at his age in an area with which he was not at all familiar had it not been for Gérard Tardif’s influence. ...

The resulting profit will then have to be considered income and not a capital gain. 3.13. ... Moreover, titles should not be considered part of the Act. The Board considers that the description of the cash method provided in the aforementioned sections is, in practice, the description of a principle which is already generally recognized in accounting. ... As an obiter dictum, however, in view of the evidence submitted concerning the herds (particularly the fact that the cost of purchasing the cattle was not treated as a current expense), the Board concludes that the subsequent profit on the sale of the cattle should be considered a capital gain. 6. ...

Mr Justice Jackett, however, decided that it was entirely up to the management of that corporation to determine the method of financing considered appropriate and desirable for that corporation and for the purposes of this appeal I believe I can add that the judicious planning of one’s affairs so that less tax is attracted is not prohibited by the Income Tax Act. ... I further hold that the transactions gave legal effect to valid commercial and business objectives and that they cannot be considered a sham. Finally, I hold that the interest payments on moneys to which this appeal pertains were borrowed to earn income and cannot be considered as unduly or artificially reducing income within the meaning of subsection 137(1) of the Act as it read at the relevant time. ...