The word "cost" in s. 54(a) "means the price that the taxpayer gave up in order to get the asset; it does not include any expense that he may have incurred in order to put himself in a position to pay that price or to keep the property afterwards." Interest on the unpaid portion of the price of gold bullion, and safe keeping charges incurred during the period following the taxpayer's acquisition of the bullion, accordingly could not be added to the adjusted cost base of the gold bullion.
Topics and taglines
Tagline
interest and other bullion carrying charges not added
Words and phrases
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
338111
Extra import data
{
"field_legacy_header": "<strong><em><a name=\"Stirling\"></a>The Queen v. Stirling</em></strong>, 85 DTC 5199, [1985] 1 CTC 275 (FCA) <strong>[interest and other bullion carrying charges not added]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": ""
}
"field_legacy_header": "<strong><em><a name=\"Stirling\"></a>The Queen v. Stirling</em></strong>, 85 DTC 5199, [1985] 1 CTC 275 (FCA) <strong>[interest and other bullion carrying charges not added]</strong>",
"field_override_history": false,
"field_sid": "",
"field_topic_category": ""
}