A loan owing to the taxpayer by a corporation owned by her but which had been depleted of its assets by her estranged husband had become a bad debt at the end of 1998 given that at time the corporation had no assets or customers, was not carrying on business and was not earning income. As there was no evidence to show that collection of the debt was reasonably possibly, the taxpayer was under no obligation to take steps to collect. The Minister unsuccessfully argued that the business investment loss of the taxpayer was reduced by $180,000 in damages for oppression received by her from her husband and his companies.
Topics and taglines
Tagline
no obligation to take collection steps if collection not reasonably possible
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
338095
Extra import data
{
"field_legacy_header": "<strong><em><a id=\"Keating\"></a>Keating v. The Queen</em></strong>, 2005 DTC 743, 2005 TCC 296 <strong>[no obligation to take collection steps if collection not reasonably possible]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": "seealso"
}
"field_legacy_header": "<strong><em><a id=\"Keating\"></a>Keating v. The Queen</em></strong>, 2005 DTC 743, 2005 TCC 296 <strong>[no obligation to take collection steps if collection not reasonably possible]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": "seealso"
}