Malo v. The Queen, 2012 DTC 1214 [at at 3588], 2012 TCC 75 (Informal Procedure) -- summary under Tax Shelter

By services, 28 November, 2015

The taxpayer's purchases of tree seedlings that were being planted at a Costa Rican tree plantaition constituted a tax shelter on the basis of statements made to the taxpayer in a family setting by his brother-in-law (who also was the key individual involved in promoting investments by potenital investors in the plantation trees) that the taxpayer "would be able to deduct the money invested, as it constituted a current business expense." Hogan J. stated (at para. 15):

Following the guidance of Baxter, it suffices that Mr. Maheux discussed with the appellant the investment opportunity and that he presented to the appellant the amount of possible deductions for the definition of tax shelter to apply.

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