Wescast Industries Inc. v. The Queen, 2010 DTC 1364 [at at 4432], 2010 TCC 538 -- summary under Financing Expenditures

By services, 28 November, 2015

The taxpayer and an unrelated corporation ("Linamar") captialized a joint (50/50) Ontario subsidiary with $105 million which in turn contributed that amount as capital to a wholly owned and newly incorporated Hungarian manufacturing subsidiary. Over the next three years, the taxpayer and Linamar jointly contributed substantial amounts to this indirect Hungarian subsidiary to fund the costs of human resources development, promotion and advertising, and technology development. Bowie J. found (at para. 23) that those contributions were "an integral part of the establishment of the Hungarian facility, and so enduring in their nature," and therefore a capital expenditures.

Bowie J. found (at para. 25) that the case was distinguishable from Valiant Cleaning Technology Inc. v. The Queen, 2008 DTC 5112, 2008 TCC 637, because "the payments here were not made to save the parent company from potential extinction resulting from loss of its reputation as a supplier as a result of imminent default by its subsidiary. It is concerned only with the provision of startup capital to a newly formed subsidiary."

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