Lands were devised by the testator to the taxpayer on the condition that the taxpayer would pay a monthly annuity to his mother. The lands were charged with the annuity, to secure which the title remained in the names of the trustees during the life of the widow. The annuity was held to be in substance an equitable rent charge which was payable out of the lands as her property and did not form part of his income. An amount equal to the annuity accordingly was excluded from the business income generated by the lands.
Topics and taglines
Tagline
annuity charged on lands was excluded from receipts
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
339531
Extra import data
{
"field_legacy_header": "<a id=\"Wilson\"></a><strong><em>Wilson v. MNR</em></strong>, 55 DTC 1065, [1955] CTC 87, [1955] S.C.R. 352 <strong>[annuity charged on lands was excluded from receipts]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": ""
}
"field_legacy_header": "<a id=\"Wilson\"></a><strong><em>Wilson v. MNR</em></strong>, 55 DTC 1065, [1955] CTC 87, [1955] S.C.R. 352 <strong>[annuity charged on lands was excluded from receipts]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": ""
}