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FEDERAL INCOME TAX - Capital gains and losses - Calculation of gains and losses - Appeals - Tax Court of Canada - Judgments disposing of an appeal

Friday, April 21, 2017 @ 10:43 AM  

Appeal by Struck from a Tax Court judgment quashing his appeal. In 2005, the appellant transferred shares in a numbered company and a half interest in a rental property to his son. They reached an agreement on the fair market value of the assets and the manner of payment. The appellant did not report any taxable capital gain arising from the transaction. In 2009, a reassessment included taxable capital gains of $163,000. The appellant served a notice of objection and the reassessment was reduced to $110,500,...