Words and Phrases - "adventure in the nature of trade"
Hawa v. The Queen, 2007 DTC 28, 2006 TCC 612 (Informal Procedure)
The taxpayer, who in 2001 had made 151 purchases of stock in 16 companies, which were held for short periods of time, was found to be engaged in a...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Onus | 103 | |
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss | frequent stock trading | 54 |
| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares | different administrative treatment of share and land transactions may be based on pragmatic considerations/ here there was a concerted activity that was a business, not an adventure | 304 |
Sandnes v. The Queen, 2004 DTC 2466, 2004 TCC 244
The taxpayer, who was employed part-time by a public resource company providing office administration and shareholder relations services, acquired...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 39 - Subsection 39(4) | 67 | |
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Business | 20 stock sale transactions could be an adventure, but not a trading business | 115 |
Edwards v. Bairstow & Harrison, (1955), 36 TC 207, [1955] UKHL TC (HL)
The taxpayers who were a director of a leather manufacturing company and an employee of a spinning firm, purchased a complete cotton spinning...
MNR v. Taylor, 56 DTC 1125, [1956] CTC 189 (Ex Ct)
Because the parent corporation of the taxpayer's employer ("Canada Metal") prohibited Canada Metal from dealing in futures or purchasing lead...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Business | purchase of large quantity of lead for resale was an adventure | 127 |
Minister of National Revenue v. Freud, 68 DTC 5279, [1968] CTC 438, [1969] S.C.R. 75
Before finding that the taxpayer has sustained a fully deductible loss on advances which he had made to a business venture, Pigeon J. stated (pp....
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(b) - Capital Loss v. Loss | loan loss sustained on speculative start-up venture | 156 |
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...
| 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 |
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 -...
| 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 |
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...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 239 - Subsection 239(1) - Paragraph 239(1)(d) | 97 | |
| Tax Topics - Income Tax Act - Section 3 - Paragraph 3(a) | 109 | |
| Tax Topics - Income Tax Act - Section 9 - Timing | 42 |
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...
| 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 |
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...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 10 - Subsection 10(1) | 87 |
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'...
| 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 |