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Appellant maintains that the Minister was in error when he considered the trust deed as effecting a gift, because there was no transfer of assets at the time it was made. ...

However, the broad question arises: Did the appellants go to such extremes in arranging their affairs that they caused dividends to be paid to their wives which, pursuant to subsection 56(2) of the Income Tax Act, must be considered as taxable to the appellants as if they themselves had received the dividends? ...

Argument The appellant presented no argument, merely referring the Board again to the regulation he considered applicable, and to the logic of his proposition. ...

Consequently, the money the appellant company lost by buying shares in and lending money to Eldridge Development Corporation can in no way whatsoever be considered a trading loss because these disbursements had nothing to do with the appellant company’s business. ...

In my view, the possibility of an appeal does not affect the nature of the amount in question as a receivable or its character as income, and under no circumstances can it be considered as transferring the item from one taxation year to the next, or postponing the date when the moneys become receivable. ...

Mr Sabourin placed great emphasis on the highest and best use concept of future industrial development, whereas Mrs Smith’s view was somewhat broader in that she considered the highest and best use, from a value point of view at least, was simply to hold the land for future development. ...

Argument The fundamental points brought out by counsel for the appellant were that although there was no written partnership agreement in the years 1965 to 1969, this should be no bar to the arrangement being considered a partnership; that architects and other professionals can accumulate and sell goodwill; that the basis for the calculation of the amount of goodwill in this case had been adequately supported; and although the business was small, it should nevertheless be accorded the same opportunity to benefit from the sale of such goodwill as should be available to any larger operation. ...

From the limited information available to the Board, it must also be concluded that it was considered important by Star for that company's purposes that he (and his wife) be on the trips. ...

I have considered the jurisprudence quoted by counsel. As to the facts, both counsel agree that no question of sham arises. ...

He further stated that the factor of matching profits and expenses was also considered, as was the matter (and this, I take it, was his main thrust) of whether or not there was consistency in the method adopted by the taxpayer. ...