Rich v. Canada, 2003 DTC 5115, 2003 FCA 38 -- summary under Business Judgment

By services, 28 November, 2015

Before finding that the taxpayer was entitled to an allowable business loss with respect to the loan he made to a company of which he was a minority shareholder and his son was the controlling shareholder, Rothstein J.A. (at 5117) stated that

"The Court is not to second-guess the business acumen of taxpayers (see Stewart v. Canada, 2002 SCC 46 at para. 55)."

Topics and taglines
Topic
Statutory Interpretation - Business Judgment
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
340009
Extra import data
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