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Mosly v. R. - TCC: Taxpayer embezzled amounts in 1999, alleged thefts in 2003 and 2004 not proven

25 juin 2015 By Bill Innes

Précis: Mr. Mosly was assessed for 1999 for $460,000 stolen from a business client. The Court did not accept his explanations and dismissed his appeal. He was also assessed for 2003 and 2004 in respect of amounts he allegedly embezzled from two companies of which he was a 50% shareholder along with a former friend with whom he became involved in messy litigation.
Mosly v. R. - TCC: Taxpayer embezzled amounts in 1999, alleged thefts in 2003 and 2004 not provenPlus >

Watts v. R. - FCA: No appeal of 2007 taxation year - matter <i>res judicata</i>

Watts v. R. - FCA: No appeal of 2007 taxation year - matter res judicata

25 juin 2015 By Bill Innes

Précis: The taxpayer filed a Notice of Appeal dated January 9, 2012 of his 2007 taxation year. The matter was heard before Campbell J. of the Tax Court who struck the appeal.
Watts v. R. - FCA: No appeal of 2007 taxation year - matter res judicataPlus >

Kruger Inc. v. R. - TCC: Only “financial institutions” can mark foreign exchange options to market

23 juin 2015 By Bill Innes

Précis: Because of its exposure to currency risk in multiple jurisdictions Kruger Incorporated (“Kruger”) started an aggressive risk management program using foreign exchange options. The program expanded to the point that they had a foreign exchange desk in house similar to that found in mainstream investment houses.
Kruger Inc. v. R. - TCC: Only “financial institutions” can mark foreign exchange options to marketPlus >

Re Pallen Trust – Taxpayer’s obtains rescission when plans scuppered by Sommerer case

23 juin 2015 By Bill Innes

This commentary is provided by guest contributor, Rebecca Jones, of Lenczner Slaght LLP. The areas of rectification and rescission are closely related and are among the most important recent adjuncts to tax litigation outside the context of statutory tax appeals.
Re Pallen Trust – Taxpayer’s obtains rescission when plans scuppered by Sommerer casePlus >

MNR v BP Canada - FC (Blog 2): You Can't Always Get What You Want--Unless You're the CRA

22 juin 2015 By Bill Innes

This guest commentary is provided by guest contributors, Andrew Skodyn and Scott Rollwagen, of Lenczner Slaght LLP.
MNR v BP Canada - FC (Blog 2): You Can't Always Get What You Want--Unless You're the CRAPlus >

Superior Plus v. R. - TCC: Crown ordered to produce extensive material underlying GAAR assessment

22 juin 2015 By Bill Innes

Précis: This is an example of procedural sparring in a large GAAR case where the taxpayer clearly emerged the victor at least in the initial stages in the Tax Court. The underlying transaction was the conversion of an income trust to a corporation, a conversion that was facilitated by amendments to the Income Tax Act several years ago:
Superior Plus v. R. - TCC: Crown ordered to produce extensive material underlying GAAR assessmentPlus >

MNR v. BP Canada - FC: CRA can go on fishing expeditions for tax Issues Lists

19 juin 2015 By Bill Innes

Précis: The decision of the Federal Court in Minister of National Revenue v. BP Canada Energy Company (“BP Canada”) is one that is likely to reverberate throughout the corridors of the Canadian business community for a long time. Generally Accepted Accounting Principles (“GAAP”) require that corporations and their subsidiaries document contingent tax liabilities.
MNR v. BP Canada - FC: CRA can go on fishing expeditions for tax Issues ListsPlus >

Rae v. R. - FC: No class action against Minister - charitable gift shelter

19 juin 2015 By Bill Innes

Précis: The applicant made a donation to a gifting tax shelter program in 2013 and claimed a charitable tax credit. Her 2013 taxation year was not assessed yet (hence, she had not received the refund she claimed) and she was advised by CRA that it was studying her gift and auditing the program and this could take up to two years to complete.
Rae v. R. - FC: No class action against Minister - charitable gift shelterPlus >

Jarrold v. R. - FC: Application for review of Minister’s decision not to grant remission of GST dismissed

18 juin 2015 By Bill Innes

Précis: The Appellant, who is a certified management accountant, was a director of two companies, Associates and Management. He was assessed in 2006 for Associates’ unpaid GST liability for 1991 to 1993.
Jarrold v. R. - FC: Application for review of Minister’s decision not to grant remission of GST dismissedPlus >

Keay v. R. - FC: Court dismisses tort claim arising out of income tax assessments

18 juin 2015 By Bill Innes

Précis: Mr. Keay sued in tort in the Federal Court for actions of CRA in connection with assessments of his 2003 and 2004 taxation years; he had appealed those assessments unsuccessfully to the Tax Court and the Federal Court of Appeal.
Keay v. R. - FC: Court dismisses tort claim arising out of income tax assessmentsPlus >

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