Précis: The taxpayer was a real estate broker. He reported gross commission income of $154,678 in 2005 and $380,953 in 2006. CRA denied roughly $75,000 in expenses claimed by the taxpayer in 2005 and roughly $200,000 claimed in 2006. CRA allowed some deductions (the “Conceded Expenditures”) which are set out in detail in paragraph  of the decision. The Court allowed roughly $3,000 in additional expenses and some additional depreciation on a camcorder and accessories. There was no order as to costs since the success was mixed.
Ngai v. R. – TCC: Realtor has mixed success on expenses claimedREAD MORE »