The Minister had assessed the taxpayer (a practising physician) on the basis that his investment in a limited partnership that held a condominium project, which was used to generate rental income, did not represent a source of income (having a reasonable expectation of profit). These rental properties were found not to be held by the partnership as an adventure in the nature of trade rather than as capital property given that the partnership agreement required a special resolution of the limited partners before there could be any sale of the rental property, and there was no evidence that this onerous requirement could be met.
Topics and taglines
Tagline
barrier to resale of rental properties
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
339265
Extra import data
{
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}
"field_legacy_header": "<a id=\"Cardella\"></a><strong><em>Cardella v. The Queen</em></strong>, 2001 DTC 5251, 2001 FCA 39",
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}