Hamilton’s own Mr Justice Randall Bocock goes head-to-head with Maréchaux in Berg v R, 2012 TCC 406.
Estate planning and personal use real property
I just listened to a helpful presentation on estate planning for personal use real property by Robin MacKnight at the Law Society’s seminar on “Taxation Issues in Real Estate Transactions“.
No rectification necessary
In Twomey v R, 2012 TCC 310, the taxpayer thought he had been issued 100 Common Shares in the capital of a corporation, but the minute book indicated he had received only one. The difference mattered: whether the taxpayer could…
Family Law and the ITA
Folks, just a reminder that the parties to a family law dispute, even with the assistance of an order of the Ontario Superior Court of Justice, cannot override the rules in the Income Tax Act respecting the taxation of support amounts.
Johnson appeal allowed
The Federal Court of Appeal has allowed the Crown’s appeal in Johnson: see R v Johnson, 2012 FCA 285, rev’g 2011 TCC 540.
Art donation appeal dismissed
The Tax Court has released the decision of Miller J in Kossow v R, 2012 TCC 325. Ms Kossow purported to make a charitable donation through the Ideas/Berkshire donation program. The CRA disallowed all of the credits she claimed for…
Late-filed
Here’s a good reason to file an election on time: if you don’t, and one of the parties to the election disappears (dies or is dissolved, for example), the CRA will likely take the position that a late-filed election isn’t possible because the parties to it can’t make the election anymore.
More ABIL woes
A taxpayer advanced $1,150,000 to her husband’s corporation, which, it turned out, couldn’t pay her back. She didn’t claim an ABIL in respect of the loan until 2007. The Minister, however, took the position that the corporation ceased doing business…
“Gambling with other people’s money”
In Deakin v R, 2012 TCC 270, the taxpayers had been assessed as directors for the failure of a corporation to remit income tax and GST source deductions. It appears that the taxpayers chose to have the corporation use what it had withheld to keep its business afloat rather than remit the money as required by the Income Tax Act (Canada) and the Excise Tax Act (Canada) (¶ 8).
No fairness for you
In Gallant v R, 2012 TCC 119, the taxpayer filed returns for his 2006 and 2007 taxation years and claimed tuition tax credits, which he calculated in accordance with Schedule 11 to the T1. Unfortunately, Schedule 11 did not get…