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NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

FEDERAL INCOME TAX - Administration and enforcement - Collection - Third-party assessments - Non-arm's length transfer

Wednesday, October 25, 2017 @ 8:35 AM  

Appeal by Brassard from a Tax Court decision dismissing his appeal from an assessment finding him jointly liable for his brother's federal income tax debt. The Minister alleged the appellant's brother transferred real property to the appellant for less than fair market value while owing a tax debt. The Minister assumed that the appellant paid $50,000 for the property. The appellant challenged the Minister's assessment of the fair market value of the property at $120,600 as of the date of its transfer. In addition, the appellant...