Précis: Mr. Norris was assessed for shareholder benefits in respect of amounts he received from his operating corporation:
 These are appeals in the informal procedure from reassessments of the Appellant’s 2005, 2006, 2007 and 2008 taxation years. The Appellant is disputing the inclusion of amounts in his income in those years as shareholder benefits received from his corporation “Golden Hinde Cable Services Ltd.” (the “Corporation”). The amount included as shareholder benefits was $63,808 in 2005, $50,887 in 2006, $51,524 in 2007 and $30,730 in 2008.
He argued that the amounts were reimbursements of expenses incurred by him on behalf of the corporation. The Tax Court rejected his evidence and dismissed the appeal apart from some small concessions made by the Crown. There was no order as to costs since this was an informal procedure appeal.
Norris v. R. – TCC: Taxpayer subject to tax on shareholder benefits – explanation of corporate payments not acceptedREAD MORE »