“Employee” loans
In RĂ©millard v R, 2011 TCC 327, the Court spent some time considering whether an employee is required to include an amount in income in respect of a loan advanced to him by his corporate employer if the loan is not a “commercial debt obligation” as defined in subsection 80(1).
Gambling again
Mr. Giuseppe Tarascio is not having much luck convincing the tax courts that his gambling losses should be deductible from his income for tax purposes. See Tarascio v R, 2012 FCA 30, aff’g a decision of Associate Chief Justice Rossiter dismissing the taxpayer’s appeal.
Quotes
Freeze share values
Bryan Walters has drawn my attention to an interesting CRA technical interpretation (2011-0404641C6 or CCH Window ¶10,832) in which the CRA states that the provisions of a shareholder agreement might reduce the value of freeze shares that otherwise have the “right” attributes for the purposes of a freeze (see “Freeze Shares“).
55(2)-land
I didn’t understand CRA technical interpretation 2011-0394191 at first, but I think I get it now.
Goodwill and estate planning
Mark Brohman at Durward Jones Barkwell was kind enough to send to me a reminder in the form of a technical interpretation of a very important fact about goodwill and estate planning.