Précis: The taxpayer was the trustee of RRSPs which allegedly acquired taxable Canadian property from a non-resident in the course of what was alleged to be an RRSP strip. It pleaded that the transaction was a “sham” and also pleaded that the “cost” of the purchased property was not the amount it in fact paid. The Minister moved to strike the paragraphs of the Notice of Appeal containing this pleading and she was successful in the Tax Court. The taxpayer appealed to the Federal Court of Appeal which upheld the Tax Court on both points. Costs were awarded to the Minister.
Coast Capital Savings v. R. - FCA: RRSP Trustee loses appeal of attempt to plead shamREAD MORE »