Search - considered

The intention of the legislator, however, does not have to be considered in the interpretation of the Income Tax Act. The wording of the law must be considered. Indeed, what does the word “benefit” mean in section 60.1 quoted above? ...

Evidence No physical evidence was provided to the Board but on his own account, the appellant submitted that: a) A license to operate a Tourist Establishment is issued yearly by the Province of Ontario. b) The camp has a permit to collect retail sales tax for the Province of Ontario and collections of sales tax have been made and remitted to the Province of Ontario along with proper sales tax returns. c) The camp pays realty taxes to the Board of Education of Espanola on the basis of being a business. d) Hydro was brought into the area because the camp was considered to be a business rather than an individual cottage. e) Substantial dock facilities were built to sustain the kind of traffic which is hoped will be in effect. f) A pure water system and a running water system were set up and are maintained for the guests. g) Several acres of grass must be continually cut and mainly for that purpose a tractor was purchased. h) Mr Finch and his family have devoted a substantial amount of time to the care and maintenance of the camp and its guests. i) The camp is composed of one main lodge and three cottages. ... The following criteria should be considered: the profit and loss experience in past years, the taxpayer’s training, the taxpayer’s intended course of action, the capability of the venture as capitalized to show a profit after charging capital cost allowance. ...

(e) Finally, respondent’s gain cannot properly be considered as having arisen fortuitously. On the contrary, uncontradicted evidence shows that it is the result of a carefully considered plan executed as conceived. ...

The reasons for purchasing the DeMers property, in view of the fact that it was only 200 feet from the Forsythe property, would appear to the Board to be fairly obvious—$9,000 was paid for three and one-half acres of the Forsythe property, and at $12,000, even for 10 acres let alone the 150 acres they received, probably the DeMers property was considered by them to be a good purchase, even with the abandoned oil wells. ... The amount of profit involved should be considered, for income tax purposes, as capital gains. ...

In fact, his primary intention could have been to build a business premises or to build a rental property, but it is sufficient that if at the time of purchasing the property the appellant considered the possibility of resale at a profit and that consideration was one of the operating motivating considerations that led to the purchase of the property, then that is a sufficient intent, a secondary intent if you will, as substantial case law has defined it, that is, a sufficient intent to characterize the transaction as an adventure in the nature of trade. Suffice it to say that had the reassessment of the Minister rested on that proposition—"the appellant considered the possibility of resale at a profit’’—in my opinion, it would have been made on extremely tenuous grounds. ...

Only the accused and the bank manager were present at that time, and the accused, I am satisfied, considered the transaction as a loan to SKM. ... I am forced to the conclusion that what the accused did was bad business; it might be considered negligence on the part of the accused; it indicates a complete lack of knowledge of bookkeeping, accounting and income tax practice. ...

The appeal raises only one question: In the calculation of estate duty payable as the result of Mr Goyer’s death, must Mrs Goyer, his widow, be considered to have acquired by the terms of her husband’s will what subsection 2(5) of the Act calls “a general power to appoint” by instrument inter vivos over the residue of the estate? ... Appellant’s principal argument, and in my opinion the only one requiring discussion, is that according to the common law a will like that of Mr Goyer is considered as conferring on the widow a general power of appointment by instrument inter vivos. ...

I can only conclude from the above statement that a taxpayer, in order to be considered a trader for income tax purposes, must carry on the sort of trading activity ordinarily conducted by traders employed by brokerage houses. ... As fundamentals are not the tools of a trader, the appellant can only be considered an investor. ...

The T4 forms for the years 1968 and 1969, however, do indicate that the appellant’s salary was paid on a commission basis fixed by Ord, Wallington & Co Ltd who, in fact, considered the appellant to be an employee and did exercise some control over her activities including the power to dismiss her (Exhibit R-1). ... The disbursement, moreover, cannot in my view be considered as a current expenditure because the money was not expended by the appellant in 1968 and 1969 to earn income from a business. ...

He considered both of the submissions put forward by the Minister as plaintiff before the Federal Court. ... Walsh, J, in arriving at his decision, considered paragraph 11(1)(la), subsections 16(1) and (2), and paragraph 6(1)(da), and I do not propose to deal with them in this judgment other than to say that I adopt his reasoning completely. ...