Cases
Westfair Foods Ltd. v. The Queen, 91 DTC 5073, [1991] 1 CTC 146 (FCTD), aff'd 91 DTC 5625 (FCA)
A subsidiary of Loblaws Companies Ltd. realized a capital gain when it received the sums of $880,000 and $1,000,000, respectively, for the...
Arnold v. The Queen, 83 DTC 5425, [1983] CTC 405 (FCTD)
Where the taxpayer sold each year, to a company whose forestry operations he ran, the right to cut timber on wood lots owned by him, the annual...
Transcontinental Timber Co. Ltd. v. The Queen, 81 DTC 5043, [1981] CTC 152 (FCA)
$95,000 received by the taxpayer for the termination of three contracts whereunder some companies were licensed to cut timber on lands owned by...
The Queen v. Boychuk, 78 DTC 6316, [1978] CTC 451 (FCTD)
It was found that the real objective of a syndicate of individuals in staking claims in areas close to where mining was being carried on was to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 35 - Subsection 35(2) - Prospector | 68 |
Universal Timber Products Ltd. v. The Queen, 74 DTC 6413, [1974] CTC 499 (FCA)
After the taxpayer and its subsidiary had determined to discontinue their timbering operations and had agreed in principle with another company...
Montreal Trust Company v. Minister of National Revenue, 62 DTC 1242, [1962] CTC 418, [1962] S.C.R. 570
A gain realized by a corporation, which at no time had dealt in the purchase and sale of oil or other mineral rights to others, from the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 152 - Subsection 152(6) | 161 |
Minerals Limited v. The Minister of National Revenue, 58 DTC 1154, [1958] CTC 236, [1958] S.C.R. 490
The taxpayer promoted the sale of shares in another company ("Farmers Mutual"). In particular, it acted as agent of Farmers Mutual in arranging...
Sutton Lumber and Trading Co. Ltd. v. Minister of National Revenue, 53 DTC 1158, [1953] CTC 237, [1953] 2 S.C.R. 77
The taxpayer acquired various timber limits with a view to cutting the merchantable timber into lumber in a mill to be erected by it, and sold...
See Also
Winsor v. The Queen, 2008 DTC 2116, 2007 TCC 692
A lump sum received by the taxpayer from the federal government for the cancellation by the federal government of his fishing licence was a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 14 - Subsection 14(5) - Cumulative Eligible Capital | 71 | |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Property | fishing licence was property based on administrative law rights | 92 |
McClure v. Petre, [1988] BTC 377 (Ch. D.)
£75,000 received by the taxpayer for granting a licence to a motorway contractor to deposit subsoil on 25 acres of land was a capital receipt...
Coates v. Arndale Properties Ltd., [1984] BTC 438 (HL)
Another company ("SPI") in the corporate group had acquired a 125-year lease of land and developed the site at a cost of £5.3 million. The...
Pacific Pine Co., Ltd. v. MNR, 61 DTC 95 (TAB)
The taxpayer sold a timber licence for 16 quarterly instalments for a purchase price whose total amount was fixed, unless the purchaser obtained...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(g) | 46 |
Anderson Logging Co. v. The King, [1925] S.C.R. 45, [1925] UKPC 99
In finding that gains from the sale of timber limits were realized on income account by the taxpayer, which had acquired the timber limits...
Administrative Policy
IT-359R2 "Premiums and Other Amounts with Respect to Leases " 20 December 1983
Whether lease cancellation payment recieved as part of rental business
1. A premium or other amount received by a landlord or tenant, as the case...
28 July 1995 External T.I. 9432555 - TIMBER LIMIT AND DISPOSITION OF TIMBER
"Whether the proceeds from granting a right to a third party to cut timber from a taxpayer's timber limit would be on account of income or...
Commentary
Leases or licences acquired by the tenant or licensee for operating purposes
A lease of a tenant which it uses in a business that does not entail...