Précis: The taxpayer owned a number of homes which it rented out. Its only significant source of income was rents. It had no employees. CRA denied its claim for the Small Business Deduction. The Tax Court held that its principal business was earning income from property, that it was a “specified investment business” and denied its appeal. There was no order as to costs since this was an informal procedure appeal.
Skartaris Holdings Ltd. v. R. - TCC: Taxpayer’s business was renting homes - no Small Business DeductionREAD MORE »