Cases
Gifford v. Canada, 2004 DTC 6120, 2004 SCC 15, [2004] 1 S.C.R. 411
The acquisition by the taxpayer, who was employed as a broker by an investment dealer, of the customer lists of a departing employee of the same...
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| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Financing Expenditures | loan received on capital account if it is an addition to borrower's capital (cf. inventory) | 174 |
| Tax Topics - Income Tax Act - Section 8 - Subsection 8(1) - Paragraph 8(1)(f) | 70 |
Tomenson Inc. v. The Queen, 86 DTC 6267, [1986] 1 CTC 525 (FCTD), aff'd 88 DTC 6095, [1988] 1 CTC (FCA)
The taxpayer acquired a capital asset when it purchased the customer lists of an insolvent insurance agencies practice and obtained the right to...
The Queen v. Sunstrum, 78 DTC 6300, [1978] CTC 421 (FCTD)
The purchase of the client lists of an insurance and tax consulting business for a price based on a multiple of estimated commission earnings was...
The Queen v. Baine, Johnstone & Co. Ltd., 77 DTC 5394, [1977] CTC 556 (FCTD)
The purchase by an insurance company of customer lists was held to entail the purchase of business goodwill, and therefore was a capital...
Cumberland Investments Ltd. v. The Queen, 75 DTC 5309, [1975] CTC 439 (FCA)
The taxpayer, which carried on the business of supervising general insurance agents, agreed to pay $150,000, payable over six years, for the...
Canada Starch Co. Ltd. v. MNR, 68 DTC 5320, [1968] CTC 467 (Ex Ct)
Expenditures incurred by the taxpayer in developing a trademark, including costs of market research and a lump sum of $15,000 paid to another...
Butler v. MNR, 67 DTC 5019, [1967] CTC 7 (Ex Ct)
On the purchase by an accounting firm of an accounting and bookkeeping practice, $8,001 was allocated to goodwill and $16,600 was allocated to...
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| Tax Topics - Income Tax Regulations - Schedules - Schedule II - Class 8 | 34 |
Dominion Dairies Ltd. v. MNR, 66 DTC 5028, [1966] CTC 1 (Ex Ct)
The taxpayer purchased the assets of a small dairy for a purchase price of which $344,000 was allocated to customer lists and goodwill. The...
Southam Business Publications Ltd. v. MNR, 66 DTC 5215, [1966] CTC 265 (Ex. Ct.), briefly aff'd 67 DTC 5150 (SCC)
The taxpayer purchased the Financial Times as a going concern for $75,000, of which $50,000 was allocated in the agreement of purchase and sale to...
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| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | 43 | |
| Tax Topics - Income Tax Regulations - Schedules - Schedule II - Class 8 | 69 |
Seaboard Advertising Co. Ltd. v. MNR, 65 DTC 5188, [1965] CTC 310 (Ex. Ct.)
Of the $230,000 which the taxpayer paid for the acquisition of substantially all the outdoor advertising display business of its principal...
| Locations of other summaries | Wordcount | |
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| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | 35 | |
| Tax Topics - Income Tax Act - Section 68 | 93 |
See Also
Les Gestions Pierre St-Cyr inc. v. The Queen, 2010 DTC 1196 [at at 3490], 2010 TCC 146
The taxpayer supplied remote monitoring services directly to its own customers and also to customers of third parties (installers) who had...
Farm Business Consultants Inc. v. The Queen, 95 DTC 200, [1994] 2 CTC 2450 (TCC), briefly aff'd 96 DTC 6085 (FCA)
Weekly payments which the taxpayer made for a period of five years to the vendors of a business it had purchased whose aggregate amount was equal...
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| Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) | goodwill consideration misrepresented as fees | 108 |
| Tax Topics - Income Tax Act - Section 162 - Subsection 162(2) | 130 |
Miramar Shoe Imports Limited v. Minister of National Revenue, 91 DTC 317, [1991] 1 CTC 2124 (TCC)
The taxpayer, which like other shoe importers was prohibited from purchasing shoe import quotas, accomplished effectively the same thing by buying...
Today’s Business Products Limited v. Minister of National Revenue, 91 DTC 148, [1991] 1 CTC 2142 (TCC)
On the purchase of the business of the competitor, the taxpayer agreed to pay to the vendors a percentage of all sales to previous customers of...
Commissioner of Taxes v. Nchanga Consolidated Copper Mines Ltd., [1964] A.C. 948 (PC)
The sum of £1,384,569 paid by the taxpayer to another copper mining company in order to compensate the other company for its agreement to abandon...
John Smith and Son v. Moore (1921), 12 TC 266 (HL)
The taxpayer acquired a business of purchasing and selling coal from his father's estate for a purchase price that included a sum of £30,000...
City of London Contract Corp., Ltd. v. Styles (1887), 2 TC 239 (C.A.)
The taxpayer was incorporated to purchase as a going concern a business of contracting for public works. The purchased business consisted entirely...
Administrative Policy
28 September 2010 External T.I. 2010-0372461E5 F - Exploitation d'une entreprise à perte
An individual, a pharmacist, operates a pharmacy at a profit but also, as part of the same business, has a commercial department which sells other...
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| Tax Topics - Income Tax Act - Section 3 - Paragraph 3(a) - Business Source/Reasonable Expectation of Profit | reasonable expectation of profit test not applied where no personal element | 158 |