Langille v. The Queen, 2009 DTC 1431, 2009 TCC 398 -- summary under Start-Up and Liquidation Costs

In 1988 the taxpayer decided to discontinue the operation of the largest dairy farm in Nova Scotia and over the following period of over 10 years disposed of the land in a piecemeal fashion while earning modest sharecropping revenues and incurring losses. His losses for the 1999 to 2001 taxation years were deductible in computing his income given that "as a general rule, there was no reason that business shut down or termination expenses incurred post-closure of operations cease to be deductible business expenses in ordinary commercial and business-like circumstances" (para. 14).