Words and Phrases - "business"
G E Financial Investments v.The Commissioners for Her Majesty's Revenue & Customs, [2021] UKFTT 0210 (Tax Chamber), ultimately aff'd [2024] EWCA Civ 797
A US company (“GEFI Inc.”) and UK company (“GEFI”) in the GE group formed a Delaware LP (“LP”) with GEFI Inc. as the 1% general...
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| Tax Topics - Treaties - Income Tax Conventions - Article 4 | a deemed US resident was not a US treaty resident | 374 |
| Tax Topics - Treaties - Income Tax Conventions - Article 24 | UK would have been required to accord foreign tax credit to dual resident company if the US had imposed its taxes in accordance with the PE article | 169 |
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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| 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 |
Wolf v. The Queen, 2018 TCC 84, aff'd on evidentiary grounds 2019 FCA 283
The taxpayer, an aerospace engineer and a U.S. resident, was hired as an independent contractor for TDM Technical Services, a temporary employment...
S4-F11-C1 - Meaning of Farming and Farming Business
Business source: Whether farm activities are a business
1.20 In order to determine if a farming business exists, it is important to consider...
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| Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Farming | 353 | |
| Tax Topics - Income Tax Act - Section 4 - Subsection 4(1) - Paragraph 4(1)(a) | 249 |
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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| 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 |
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...
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...
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...
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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| 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 |
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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| Tax Topics - General Concepts - Ownership | doctors were property owners notwithstanding holding of title by trustees | 49 |
| Tax Topics - Income Tax Act - Section 18 - Subsection 18(2) | 51 | |
| Tax Topics - Income Tax Act - Section 79 | 34 | |
| Tax Topics - Income Tax Act - Section 96 - Subsection 96(1) - Paragraph 96(1)(g) | 34 |
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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| Tax Topics - Income Tax Act - Section 9 - Capital Gain vs. Profit - Shares | 152 |
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...