Précis: The taxpayer was an investment advisor employed by BMO Nesbett Burns. In 2006 and 2007 he claimed deductions from his employment income which CRA disallowed. He also claimed farming losses which CRA disallowed on the basis that the farming was a personal and not a business activity. The Tax Court disallowed the expenses claims as it rejected the taxpayer’s evidence based largely on his production of altered or back-dated documents. On the issue of the farm losses the Court found that he did not carry on a farm business.
Leith v. R. - TCC: Taxpayer was not engaged in farming as a businessREAD MORE »