Business

Table of Contents

Cases

Canada v. Paletta, 2022 FCA 86

Before going on to find that the taxpayer’s activity of FX straddle trading, which had the appearance of commerciality but was not engaged in...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 3 - Paragraph 3(a) - Business Source/Reasonable Expectation of Profit straddle trading, with an appearance of commerciality but not engaged in for profit, was not a business 521
Tax Topics - Income Tax Act - Section 163 - Subsection 163(2) informal consultations with tax lawyers without formal opinion did not avoid gross negligence penalties 301
Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) applicability of gross negligence penalty necessarily precludes statute-barring 102

Canada v. Loblaw Financial Holdings Inc., 2021 SCC 51

In finding that the business of a Barbados subsidiary of the taxpayer was not a “business conducted principally with persons with whom [it did]...

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Words and Phrases
business conducted
Locations of other summaries Wordcount
Tax Topics - General Concepts - Foreign Law meaning of banking business under Barbados law was not persuasive 234
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Investment Business - Paragraph (a) bank business was conducted with arm's length persons notwithstanding that capital raised from shareholder 581
Tax Topics - Statutory Interpretation - Certainty full effect should be given to Parliament’s precise and unequivocal words to produce certainty 88
Tax Topics - Statutory Interpretation - Speaking in vain Parliament does not speak in vain 72
Tax Topics - Income Tax Act - Section 91 - Subsection 91(1) two policies balanced in FAPI regime 79
Tax Topics - Statutory Interpretation - Expressio Unius est Exclusio Alterius specific addition of a competition requirement in another provision implied that there was no such requirement here 152

Loblaw Financial Holdings Inc. v. Canada, 2020 FCA 79, aff'd 2021 SCC 51

At issue was whether a Barbados bank subsidiary (Glenhuron ) of the taxpayer, which used equity funds received from its Canadian parent to invest...

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Words and Phrases
business
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Investment Business - Paragraph (a) a Barbados bank sub conducted its business of investing in short-term debt principally with arm’s length persons 602
Tax Topics - Statutory Interpretation - Redundancy/reading in words error to apply an unexpressed intention 172
Tax Topics - Statutory Interpretation - Drafting Style no additional requirements should be inferred in legislation drafted with “mind-numbing detail” 172
Tax Topics - General Concepts - Separate Existence subsidiary did not manage its funds on behalf of parent 161
Tax Topics - Income Tax Act - Section 95 - Subsection 95(1) - Foreign Accrual Property Income fundamental purpose of FAPI is to capture passive income 164

Inwest Investments Ltd. v. The Queen, 2015 BCSC 1375

The filing position of the taxpayer (Wesbild), that it did not have a permanent establishment in B.C., was based on an application of the Marconi...

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Words and Phrases
business
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 152 - Subsection 152(4) - Paragraph 152(4)(a) - Subparagraph 152(4)(a)(i) reasonable filing position cannot be a “misrepresentation” 551
Tax Topics - General Concepts - Solicitor-Client Privilege not necessary to provide legal opinion to rely on having consulted legal counsel 225
Tax Topics - Income Tax Regulations - Regulation 400 - Subsection 400(2) no fixed place of “business” if no source of business income 183
Tax Topics - Statutory Interpretation - French and English Version "misrepresentation" informed by narrower French version 109

2529-1915 Québec Inc. v. Canada, 2009 DTC 5023 [at 5585], 2008 FCA 398

The two individual taxpayers devised a scheme to: generate artificial capital gains of $110 million in some home-grown companies; pay the...

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Sham capital dividend elections for distributions of what should have been known to be income-account gains were shams 266
Tax Topics - General Concepts - Tax Avoidance capital dividend elections for distributions of what should have been known to be income-account gains were shams 266
Tax Topics - Income Tax Act - Section 83 - Subsection 83(2) capital dividend elections for distributions of what should have been known to be income-account gains were shams 718
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares shares acquired for immediate resale as part of capital dividend account generation scheme were on income account 177
Tax Topics - Income Tax Act - Section 9 - Exempt Receipts/Business shares premiums received for marketing tax scheme were business income 223

Hammill v. Canada, 2005 DTC 5397, 2005 FCA 252

The taxpayer purchased gems for an amount in excess of their worth, and then paid a total of $1,651,766 in charges purportedly made to secure a...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 3 - Paragraph 3(a) - Business Source/Reasonable Expectation of Profit fraudulent scheme is not a business to the victim 154
Tax Topics - Income Tax Act - Section 67 s. 67 can be applied to eliminate rather than just limit a deduction 108

Partridge v. Canada, 2003 DTC 5175, 2003 FCA 91 (FCA)

The Tax Court Judge did not commit a reviewable error when he found that the taxpayer's activities lacked commercial flavour and that the taxpayer...

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Stewart v. Canada, 2002 DTC 6969, 2002 SCC 46, [2002] 2 S.C.R. 645

Before going on to find that rental condominium units of the taxpayer represented a source of income and that it was not necessary for the...

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Hudon v. Canada, 2001 DTC 5630, 2001 FCA 320

In the years in question a corporation which owned forest concessions and rights to develop the hydro electric potential of a river was engaged in...

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Timmins v. R., 99 DTC 5494, [1999] 2 CTC 133 (FCA)

The taxpayer was employed by the New Brunswick Department of Agriculture and Rural Development to assist in establishing and administering several...

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Words and Phrases
business
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 122.3 - Subsection 122.3(1) provision of services by governement for fees was an undertaking and business 169

Canada Trustco Mortgage Co. v. Minister of National Revenue, 99 DTC 5094, [1999] 2 CTC 308 (FCTD)

In its 1984 taxation year, a controlled foreign affiliate of the taxpayer ("B.V.") earned interest on a promissory note that B.V. had acquired...

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Loewen v. The Queen, 94 DTC 6265, [1994] 2 CTC 75 (FCA)

The taxpayer paid $200,000 for a debenture that was redeemable by both the company and him for $140,000, and realized a gain for tax purposes of...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Debt/ receivables adventure must be capable of generating a commercial profit 154

Friesen v. Canada, 95 DTC 5551, [1995] 3 S.C.R. 103

In finding that a decline in the value of a property that was held as an adventure in the nature of trade and not as stock-in-trade of a real...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 10 - Subsection 10(1) loss recognized on decline in value of land held as an adventure 142
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Inventory property held in an adventure was inventory 83
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate undeveloped land held in speculative venture 142
Tax Topics - Statutory Interpretation - Certainty clear language and detailed provisions not to be qualified by unexpressed exceptions derived from views as to a provision's purpose 97
Tax Topics - Statutory Interpretation - Drafting Style 95
Tax Topics - Statutory Interpretation - Inserting Words interpretation should not effectively add words 104
Tax Topics - Statutory Interpretation - Ordinary Meaning common usage of a technical term given weight 80
Tax Topics - Statutory Interpretation - Resolving Ambiguity 97
Tax Topics - Income Tax Act - Section 45 - Subsection 45(1) - Paragraph 45(1)(a) property not generating income does not convert to capital property unless s. 13(7) or 45(1) applies 209

R. v. Fogazzi, 92 DTC 6421, [1992] 2 CTC 321 (Ont. C.J. (G.D.)), rev'd 93 DTC 5183 (Ont. CA)

Before going on to find that the misappropriation by the accused of money received from Italian relatives did not give rise to income from an...

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Quirinus C. Van Dongen v. Her Majesty The Queen, 90 DTC 6633, [1991] 1 CTC 86 (FCTD)

In finding that the taxpayer did not acquire two real estate properties in connection with an adventure in the nature of trade, Cullen J. stated...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 10 - Subsection 10(1) 87

Levy v. The Queen, 90 DTC 6346, [1990] 2 CTC 83 (FCTD)

In rejecting a submission that the taxpayer's income from a horse racing syndicate was income from property rather than business income because...

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Pollock v. The Queen, 90 DTC 6142, [1990] 1 CTC 196 (FCTD), aff'd 94 DTC 6050 (FCA)

Taxpayer's counsel unsuccessfully submitted that because the definition of "business" specifically excluded an office or employment, the...

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Words and Phrases
business

Ward v. The Queen, 88 DTC 6212, [1988] 1 CTC 336 (FCTD)

"The term 'business' by definition includes an adventure in the nature of trade but it is not synonymous with carrying on a business. This latter...

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Words and Phrases
business

Alberta Institute on Mental Retardation v. The Queen, 87 DTC 5306, [1987] 2 CTC 70 (FCA)

"I do not think that the association of a charitable organization with a commercial enterprise necessarily impresses that charitable organization...

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Happy Valley Farms Ltd. v. The Queen, 86 DTC 6421, [1986] 2 CTC 259 (FCTD)

In determining "when a transaction, which is not itself a trade or business, can be held to be 'an adventure or concern in the nature of trade'...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate farmland gain of real estate developer 73

Mele v. The Queen, 85 DTC 5192, [1985] 1 CTC 257 (FCTD)

The objects in the articles of incorporation of a company indicated that it was not in the business of lending money.

The Queen v. Manley, 85 DTC 5150, [1985] 1 CTC 186 (FCA)

The taxpayer engaged in an adventure or concern in the nature of trade when he agreed with an individual ("Levy") to find a purchaser for the...

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Canadian Marconi Co. v. The Queen, 84 DTC 6267, [1984] CTC 319 (FCA), rev'd 86 DTC 6526, [1986] 2 CTC 465, [1986] 2 S.C.R. 522

"[F]or purposes of the Income Tax Act, the fact that an activity is engaged in for the purpose of making a profit cannot be decisive of the...

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Hillsdale Shopping Centre Ltd. v. The Queen, 81 DTC 5261, [1981] CTC 322 (FCA)

"[T]he restricted nature of the corporate powers of the taxpayer ... is a fact but it is not a critical one in determining liability for tax. The...

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Gillis v. The Queen, 78 DTC 6103, [1978] CTC 44 (FCTD)

In order for an undertaking to be considered a "business" it must be carried on with a reasonable expectation of profit. Dubinsky, DJ stated (at...

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Words and Phrases
business

M.R.T. Investments Ltd. v. The Queen, 75 DTC 5224, [1975] CTC 354 (FCTD), aff'd 76 DTC 5156 (FCA)

The corporation, whose sole activity was to acquire mortgages of sub-prime mortgagees, and which at the beginning of the taxation year in question...

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Wertman v MNR, 64 DTC 5158, [1964] CTC 252 (Ex. Ct.)

The taxpayer acquired an apartment building in Vancouver (the “Park Strand”) in co-ownership with his wife. S. 21(4) of the pre-1972 Act gave...

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MNR v. Mandelbaum, 62 DTC 1093 (Ex Ct)

In finding that the purchase by individual shareholders of a company of mortgage receivables and conditional sales contracts owing to that company...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 16 - Subsection 16(1) no-application where mortgage receivables on income account 162
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Debt/ receivables 243

Drumheller v. MNR, 59 DTC 1177, [1959] CTC 275 (Ex Ct)

The taxpayer, who orally agreed with his brother-in-law to jointly seek a franchise to supply a town with natural gas, received $10,000 in lieu of...

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Words and Phrases
undertaking

MNR v. Taylor, 56 DTC 1125, [1956] CTC 189 (Ex Ct)

A transaction whereby the taxpayer purchased lead and resold it to his employer at a gain was an adventure in the nature of trade -...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Commodities, and commodities futures and derivatives executive's substantial lead purchase with view to resale to employer/meaning of adventure 169

C.I.R. v. Marine Steam Turbine Co. Ltd. (1919), 12 TC 174 (K.B.D.)

"'Business' is a very wide word, and it is a wide elastic word in its extent, of course, but it has two distinct meanings. It may mean any...

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See Also

Watson as trustee for the Murrindindi Bushfire Class Action Settlement Fund v Commissioner of Taxation, [2020] FCAFC 92

A trust for distributing $300M in class action damages to the class claimants earned $8.4M in interest income on the funds and incurred $4.3M in...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Expenditure v. Expense - Oversight or Investment Management expenses incurred in administering a litigation settlement fund were not deductible from the related interest income 462

Samarkand Film Partnership No. 3 & Ors v Revenue and Customs, [2017] EWCA Civ 77

At issue was whether two partnerships which acquired interests in films and immediately leased their acquired interest for fixed, increasing,...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 96 whether partnership exists while only preliminary partners 217
Tax Topics - Income Tax Act - Section 96 - Subsection 96(1) - Paragraph 96(1)(a) rent received qua landlord rather than partner 143

Mazo v. The Queen, 2016 TCC 232 (Informal Procedure)

The taxpayer (Ms. Mazo) participated in and profited on balance from a pyramid scheme, which in form entailed the participants paying the promoter...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Timing revenue earned when credited to taxpayer's account with promoter 218
Tax Topics - Income Tax Act - Section 3 - Paragraph 3(a) - Business Source/Reasonable Expectation of Profit pyramid scheme a source of business income 92

Staltari v. The Queen, 2015 DTC 1130 [at 818], 2015 TCC 123

The taxpayer donated land to the City of Ottawa, received a charitable receipt for its appraised value and claimed that his gain resulting under...

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Evidence uncorroborated testimony 99
Tax Topics - Income Tax Act - Section 38 - Paragraph 38(a.2) land donated in order to achieve tax benefit was still a gift to a qualified donee 133
Tax Topics - Income Tax Act - Section 39 - Subsection 39(1) - Paragraph 39(1)(a) exclusion of gains that are ordinary income 149
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Real Estate secondary intention to develop land irrelevant if land donated instead 500

Prochuk v. The Queen, 2014 DTC 1050 [at 2917], 2014 TCC 17

The taxpayer, whose principal source of income was his RRSP, received distributions of $63,750 on an investment made outside his RRSP in a...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss trading RRSP funds does not make the annuitant a trader 116
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares trading RRSP funds does not make the annuitant a trader 116

Eclipse Film Partners (No. 35) LLP v Revenue and Customs Commissioners, [2014] BTC 503, [2013] UKUT 0639 (TCC), aff'd [2015] EWCA Civ 95

Before affirming a finding below that the appellant partnership, which had been licensed rights to exploit two films, was not carrying on a trade...

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Locations of other summaries Wordcount
Tax Topics - Statutory Interpretation - Consolidations construed in integrated manner 152
Tax Topics - Statutory Interpretation - Hansard, explanatory notes, etc. Explanatory Notes more valuable than white papers 245

Leblanc v. The Queen, 2007 DTC 307, 2006 TCC 680

The two taxpayers, who together won over $5.5 million during a four year period from playing sports lottery parlay games, were found to not be...

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Wadley v. The Queen, 2006 DTC 3401, 2006 TCC 440 (Informal Procedure)

The taxpayer let her neighbour's cattle graze on her pasture in consideration for a monthly fee per head, and agreed with her neighbour that he...

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Aviva Canada Inc. formerly CGU Group Canada Ltd. v. The Queen, 2006 TCC 57

In settling a dispute between the appellant and another insurance company, Canadian Group Underwriters Insurance Company ("Underwriters"), as to...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 141.1 - Subsection 141.1(2) - Paragraph 141.1(2)(a) purchase and immediate resale at the same FMV was not commercial activity 219
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Commercial Activity purchase and immediate resale at the same FMV was not commercial activity 209
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Trademarks purchase and immediate resale at the same FMV was not an adventure 286

Richter & Associates Inc v. The Queen, 2005 TCC 92

The trustee in bankruptcy for a company ("Castor") which had essentially only engaged in investing in high-yield loans brought an action in its...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Business litigation support services provided by trustee for bankrupt financial institution were an "undertaking" 289
Tax Topics - Excise Tax Act - Section 141.01 - Subsection 141.01(2) allocation between costs incurred by trustee in bankruptcy for bankrupt financial institution to provide litigation services to creditors, and costs incurred in connection with its action qua trustee 392
Tax Topics - Excise Tax Act - Section 141.01 - Subsection 141.01(5) allocation between own suit and litigation support 77
Tax Topics - Excise Tax Act - Section 141.1 - Subsection 141.1(3) - Paragraph 141.1(3)(b) action brought by trustee for bankrupt financial institution deemed to be not in course of commercial activity 200
Tax Topics - Excise Tax Act - Section 265 - Subsection 265(1) - Paragraph 265(1)(f) trustee's own suit and litigation support activity were related 295
Tax Topics - General Concepts - Illegality Act applied to what has occurred irrespective of legality 145

Rocovitis v. Dominion of Canada General Insurance Co. (2005), 63 OR (3d) 402 (CA)

An exclusion in an insurance policy for loss resulting from engaging in a "trade, profession or occupation" did not apply to an individual doing...

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Wright v. The Queen, 2003 DTC 763 (TCC)

The taxpayers and their father had used 430 acres of a 5,700 acre property in Manitoba for farming for many years before farming ceased in the...

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Banner Pharmacaps NRO Ltd. v. The Queen, 2003 DTC 245, 2003 TCC 82, aff'd 2003 FCA 367, 2003 DTC 5642

The taxpayer was not considered to be engaged in a business of making loans by virtue of the Canadian corporation of which it was a sole...

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Words and Phrases
loan
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Timing 95

Yunger v. The Queen, 2000 DTC 2153 (TCC)

Before going on to find that the taxpayer had not made three loans in the ordinary course of a business of lending money, for purposes of s....

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Waxman v. R., 97 DTC 705, [1997] 2 CTC 2723 (TCC)

Archambault TCJ. indicated that if the issue had been raised before him, he would have been inclined to doubt that a partnership that was engaged...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 37 - Subsection 37(8) 111

Samson et Fréres Ltée v. The Queen, 97 DTC 642 (TCC)

After finding that expenses incurred by the taxpayer were non-deductible because it had not yet commenced to carry on a business, Dussault TCJ....

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Toronto Stock Exchange v. Regional Assessment Commissioner (1996), 136 DLR (4th) 362 (Ont CA)

The Toronto Stock Exchange, which was a corporation without share capital and whose objects were to operate an exchange for trading in securities...

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Re City of Calgary and Alberta Assessment Appeal Board (1989), 62 DLR (4th) 764 (Alta. C.A.)

The Calgary Real Estate Board Co-operative Limited was found not to be a "business" for purposes of the Municipal Taxation Act (Alberta), which...

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Words and Phrases
business

Atkinson v. Dancer, [1988] BTC 364 (Ch.D.)

The test to be applied in determining whether a transaction was the sale of a business or part of a business was whether the transaction caused a...

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Marson v. Morton, [1986] BTC 377 (Ch. D.)

Before finding that an isolated transaction, whereby individuals bought undeveloped land and sold it three months later at a substantial gain, was...

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Re Ontario Jockey Club and City of Toronto (1986), 53 OR (2d) 151 (HCJ.), aff'd (1988), 61 OR (2d) 131 (Div. Ct.)

The predominant purpose of a non-profit corporation without share capital, which operated horse-racing properties and applied substantial profits...

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Commissioners of Customs and Excise v. The Rt. Hon. Lord Fisher, [1981] T.R. 59 (HC)

Lord Fisher invited his hunting friends and relations to shoot pheasants on his estate each year, and required a "contribution" from those who...

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Words and Phrases
business

American Leaf Blending Co. Spn. Bht. v. Director-General of Inland Revenue, [1979] A.C. 676 (PC)

After referring to dicta in the Salisbury House case, [1930] A.C. 432 to the effect that the letting of land does not constitute a "trade", Lord...

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Words and Phrases
business

Wisdom v. Chamberlain (1968), 45 TC 92 (C.A.)

In finding that a gain resulting from the purchase of silver by the U.K. taxpayer in order to hedge against a devaluation of the pound was...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Commodities, and commodities futures and derivatives purpose for silver purchase was to profit from devaluation 192

Guinea Airways Ltd. v. Federal Commissioner of Taxation (1949), 83 C.L.R. 584 (HC of A.)

Before finding that a stock of spare parts held in order to meet possible future emergencies were capital assets rather than stock in trade, Kitto...

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Martin v. Lowry, [1926] K.B.D. (C.A.)

A venture in which a wholesale machinery merchant purchased in 1919 the whole surplus stock of government aircraft linen remaining in the...

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Administrative Policy

7 October 2022 APFF Financial Strategies and Instruments Roundtable Q. 5, 2022-0936301C6 F - Guarantee fee

An individual, a sole shareholder of a corporation, borrows money in order to earn business or property income. To secure his personal loan, his...

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Words and Phrases
undertaking carry on service
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e.1) one-time fee to subsidiary for mortgaging its property as security for a bank loan to the shareholder would not qualify under s. 20(1)(e.1) 139
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(e) one-time fee to subsidiary for mortgaging its property as security for a bank loan to the shareholder could qualify under s. 20(1)(e) 175
Tax Topics - Income Tax Act - Section 15 - Subsection 15(1) no shareholder benefit where corporation receives a reasonable pledge (or “guarantee”) fee from its shareholder 124

11 October 2019 APFF Roundtable Q. 17, 2019-0812761C6 F - Entreprise - Business

Based on the Act, technical interpretations and the jurisprudence, it is difficult to ascertain what constitutes a business. Could CRA provide...

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S3-F9-C1 - Lottery Winnings, Miscellaneous Receipts, and Income (and Losses) from Crime

Gambling profits

1.11

Profits derived from bookmaking or from the operation of any gambling establishment (carried on legally or otherwise)...

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3 March 2011 External T.I. 2010-0379181E5 F - Jeux de hasard sur Internet

Respecting the taxability of a taxpayer’s winnings on poker games played over the internet, CRA referred to Leblanc, and stated:

According to...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 3 - Paragraph 3(a) - Business Source/Reasonable Expectation of Profit on-line poker winnings generally non-taxable 28

31 January 2007 External T.I. 2006-0213111E5 - RRIF TRUST - CARRYING ON A BUSINESS

After stating that "it is our general view that any undertaking or activity of a taxpayer that is carried on for profit or with a reasonable...

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20 July 2004 External T.I. 2004-0062031E5 F - Actif utilisé dans entreprise exploitée activement

A corporation owned a large area of vacant land in Canada (for instance, in an industrial park) and, as the corporation wished to locate in the...

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Words and Phrases
carried on business
Locations of other summaries Wordcount
Tax Topics - Income Tax Act - 101-110 - Section 110.6 - Subsection 110.6(1) - Qualified Small Business Corporation Share - Paragraph (c) - Subparagraph (c)(i) vacant land not used in carrying on a business if merely subdivided and sold 325
Tax Topics - Income Tax Act - Section 125 - Subsection 125(7) - Active Business Carried On by a Corporation an adventure is a business for s. 125(1) (but not 110.6) purposes even if it is not carried on 148

Policy Statement CPS-019 "What is a Related Business?" 31 March 2003

Although most fundraising activities are business activities, a fundraising event generally will not be considered to "recur with such regularity...

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7 December 2001 Internal T.I. 2001-0108597 F - Crédit d'impôt emploi étranger Art. 122.3

After referring to Timmins, the Directorate stated:

It appears from this decision that, to the extent that the activities carried on outside...

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27 June 2001 Internal T.I. 2001-0084627 F - Crédit d'impôt pour emploi à l'étranger

The Directorate quoted with approval the statement in Timmins that:

Although the word “business” when used in the Act must generally envisage...

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GST/HST Memorandum 19.5 "Land and Associated Real Property" October 2001

Appendix C …

General distinction between a regular business and an adventure

General approach

3. Generally, a sale made in the course of a...

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8 March 1990 T.I. (August 1990 Access Letter, ¶1379)

Engaging in an adventure in the nature of trade is not ipso facto carrying on a business.

89 M.R.T. - Q.15 (Jan. 90 A.L.)

In determining whether term deposits of a corporation which are required as collateral to obtain a line of credit are used in an active business,...

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Articles

Krishna, "What Constitutes a Business?", Canadian Current Tax, June 1995, Vol. 5, No. 9, p. 90.

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