Words and Phrases - "yacht"

a
89
b
44
c
86
d
56
e
43
f
31
g
20
h
15
i
77
j
2
k
2
l
32
m
57
n
29
o
40
p
82
q
3
r
78
s
95
t
47
u
16
v
10
w
23
y
2

The Queen v. C.I.P. Inc., 88 DTC 6005, [1988] 1 CTC 32 (FCTD)

Summary Under
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(l) - Subparagraph 18(1)(l)(i)

A couple acquired a tugboat, converted it to use as their residence, and used it for fishing charter purposes for 4 to 6 weeks a year, including a charter to the taxpayer for business promotion purposes. Since the vessel's primary use was as a residence rather than as a pleasure craft, it was not a "yacht".

Words and Phrases
yacht