Archives - octobre 2016

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  Whissell v. R. - FCA: Taxpayer fails in appeal of non-filing penalties

  26 octobre 2016 By Bill Innes

  catégories:

  • Bill Innes on Current Tax Cases
  • Federal Income Tax
  • Personal Tax, Estate & Wealth Planning

  Précis: This was an appeal from decisions of the Tax Court blogged earlier on this site. Mr. Whissell was assessed for 2006, 2007, 2008, 2009 and 2010 in respect of unreported income. He was assessed non-filing penalties under subsection 163(1) for each of 2007, 2008, 2009 and 2010. The sole issue before the Tax Court was the imposition of these penalties. The Court held that he had not made out a due diligence defence.
  Whissell v. R. - FCA: Taxpayer fails in appeal of non-filing penaltiesPlus >
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  Mazo v. R. - TCC: Taxpayer taxed on income from pyramid scheme, entitled to deduct costs

  26 octobre 2016 By Bill Innes

  catégories:

  • Bill Innes on Current Tax Cases
  • Federal Income Tax
  • Personal Tax, Estate & Wealth Planning

  Précis: The Taxpayer participated in a pyramid scheme known as Business In Motion International Corporation (“BIMIC”) in 2007, 2008 and 2009. She received proceeds of roughly $90,000 in those years which CRA added to her income and imposed gross negligence penalties. The taxpayer appealed to the Tax Court. The Tax Court concluded that the proceeds were in fact taxable but concluded that the taxpayer should be allowed a deduction for her costs of buying into the scheme. The gross negligence penalties were sustained.
  Mazo v. R. - TCC: Taxpayer taxed on income from pyramid scheme, entitled to deduct costsPlus >
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  Osaduke v. R. - TCC: Unreported income adjusted but penalties sustained on lower amount

  4 octobre 2016 By Bill Innes

  catégories:

  • Bill Innes on Current Tax Cases
  • Federal Income Tax
  • Personal Tax, Estate & Wealth Planning

  Précis: The taxpayer was audited and the auditor by means of examining bank deposits concluded that he had unreported income in both 2008 and 2009 from the sale of metal and coins and from eBay sales. The Tax Court reduced the unreported income from $62,111 and $46,008 in 2008 and 2009 respectively to $39,488 and $44,425 respectively however it sustained gross negligence penalties on the reduced amounts. There was no award of costs since this was an informal procedure appeal.
  Osaduke v. R. - TCC: Unreported income adjusted but penalties sustained on lower amountPlus >