Précis: Mr. Copeland received cheques totally $111,000 from a related corporation, Tradepro, at a time when it was a tax debtor. As a result he was assessed under subsection 160(1) for the amount of tax debt of Tradepro at the date of the transfer. Mr. Copeland testified that the cheques were partial repayment of a loan made by his late father (who also used the same middle name, Blaine) to a predecessor corporation of Tradepro and that he held the funds as the agent of his father. Unfortunately for Mr. Copeland the Court did not accept his evidence or that of his bookkeeper and the appeal was dismissed with costs.
Copeland v. R. - TCC: Taxpayer liable under subsection 160(1) for transfer from related corporationREAD MORE »