Archives - novembre 2015

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  Ellis v. R. - TCC: Penalty vacated on subsection 160(1) assessment, transfer from husband

  26 novembre 2015 By Bill Innes

  catégories:

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

  Précis: Mrs. Ellis’ husband transferred his 50% interest in their matrimonial home to her at a time when he had an income tax liability. Mrs. Ellis conceded that the transfer was for less than market value. The two points before the Tax Court were the amount of Mr. Ellis’ tax debt at the time of the transfer and the imposition of a gross negligence penalty on Mrs. Ellis.
  Ellis v. R. - TCC: Penalty vacated on subsection 160(1) assessment, transfer from husbandPlus >
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  Myers v. R. - TCC: Court rejects evidence husband’s joint interest in home a drafting error

  20 novembre 2015 By Bill Innes

  catégories:

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

  Précis: Ms. Myers was assessed under subsection 160(1) of the Income Tax Act in respect of the transfer to her by her husband of his share of their home at a time he had an income tax liability. Her defense was that the original acquisition of the home in their joint names was a drafting error and she was always intended to be the sole owner.
  Myers v. R. - TCC: Court rejects evidence husband’s joint interest in home a drafting errorPlus >