Rich v. Canada, 2003 DTC 5115, 2003 FCA 38 -- summary under Purpose/Intention

By services, 13 October, 2016

Rothstein JA stated (respecting a situation where the predominant purpose of making a loan was to assist the taxpayer’s son) that a “subordinate purpose” of generating interest or dividend income is sufficient to satisfy the income-producing purpose test in s. 40(2)(g)(ii).

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Topic
General Concepts - Purpose/Intention
Tagline
subordinate purpose sufficient
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