Précis: The taxpayer immigrated to Canada from Australia. He received pension payments from his former Australian employer and sought to deduct the capital element contributed by him (for which he was never entitled to a deduction under Australian tax law). The Tax Court dismissed the appeal holding that on the basis of established precedent Canadian tax law did not permit a carve out of the capital element of pensions. There was no order as to costs since this was an informal procedure appeal.
Rasmussen v. R. – TCC: No relief for taxpayer on capital portion of Australian pension paymentsREAD MORE »