In Rudolph v R, 2024 TCC 148, the Tax Court held that the taxpayer had not disposed of shares in 2007 as alleged by the CRA. Instead, the taxpayer had received a loan from the purchaser in 2007 that was…
Deemed proceeds of an asset
In 0808414 B.C. Ltd. v R, 2024 TCC 99, the taxpayer sold equipment to a non-arm’s length purchaser as part of a transaction that also transferred employees and obligations under a pension and benefits plan. The CRA reassessed on the…
Trust beneficiary liability under s 160
In Barwicz v R, 2024 CCI 93, the Tax Court held that a beneficiary of a trust was liable under section 160 for its unpaid tax to the extent of capital distributions received from the trust. Subsection 107(2), which provides…
Fraudulent conveyances
In Ontario Securities Commission v Camerlengo Holdings Inc., 2023 ONCA 93, the OSC brought a claim under s 2 of the Fraudulent Conveyances Act (Ontario) (the “FCA”) against a husband and wife. The husband and wife convinced a judge to…
Purported shareholder loan repayments treated as income
In Kumar v R, 2024 TCC 105 (informal procedure), the Court found that the CRA had properly reassessed the appellant to include in his income payments to him and his son made by a corporation to which the appellant had…
Minister accepts VD but then reassesses other years anyway
In Milgram Foundation v. Canada (Attorney General), 2024 FC 1405, the Federal Court quashed a decision to reassess a taxpayer for taxation years before years for which the taxpayer had made a voluntary disclosure. The CRA had accepted the disclosure…
TFSA trading business
Canadian Western Trust Company v. Canada, 2024 FCA 108, affirmed 2023 TCC 17, which had confirmed assessments issued to a TFSA because, the CRA had alleged, it had engaged in a securities trading business.
Section 160 taxpayer win
In Vasilkioti v R, 2024 TCC 101, the Court held that section 160 did not apply in respect of a transfer of real property from a husband to the appellant-wife because the CRA did not adequately prove the husband’s underlying…
2024 STEP Roundtable Part 2
In response to question 10, the CRA referred to Maurice Kissel Family Trust v R (unreported 2019-4092(IT)G). The trust in question prohibited the distribution of amounts to a “designated beneficiary”, but the trust purported to allocate and deduct gains it…
Trust allocations
Fiducie Historia c HMK, 2024 CCI 76 (French only), affirmed the validity of trust allocations made by trustees where, the CRA alleged, another agreement (entered into to preserve capital losses in a corporation controlled by the trust) seemed to give…