Before going on to find that rental condominium units of the taxpayer represented a source of income and that it was not necessary for the taxpayer to establish that he had a reasonable expectation of profit therefrom, Iacobucci and Bastarache JJ. stated (at para. 38) that:
"Equating the term 'business' with the phrase 'reasonable expectation of profit' does not accord with the traditional common law definition of business, which is that 'anything which occupies the time and attention and labour of a man for the purpose of profit is business'."