Précis: The taxpayer received funds in 2007 and 2008 from a company (“Hive”) which CRA treated as income in his hands. The taxpayer argued that the funds were received by him as agent either for his wife or for a corporation he controlled. The Court rejected the taxpayer’s evidence with the exception of amounts paid to repair the shutters of a condo owned by his wife and rented by Hive (which the principal of Hive admitted had been damaged by one of his employees) ($27,385.00). As there was mixed success there was no order as to costs (subject to the parties’ right to make submissions within 30 days).
Peerenboom v. R. – TCC: Court did not accept taxpayer’s evidence that he received funds as agent for othersREAD MORE »