Freeway Properties Inc. v The Queen, 85 DTC 5183, [1985] 1 CTC 222 (FCTD) -- summary under Income of the Corporation for the Year From an Active Business

By services, 28 November, 2015

The taxpayer company sold land as part of an active business enterprise. It was found that the sale probably would not have taken place if the taxpayer company had not taken back a mortgage. Given the close interdependence between the sale and the mortgage, interest received on the mortgage was active business income as well. (Pre-1980 provisions.)

Topics and taglines
Topic
Income Tax Act - s. 125(7) - Income of the Corporation for the Year From an Active Business
Tagline
interest on vendor-take-back mortgage was active
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
333863
Extra import data
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