Dubé v. The Queen, 2007 DTC 468, 2005 TCC 779 (Informal Procedure) -- summary under Real Estate

The taxpayer, who was a building inspector, bought and sold three housing properties at a gain over the space of approximately two years before investing the proceeds from the sale of the third property in a fourth property which he held on a longer term basis. Angers J. found, in light of the frequency of the transactions and the expertise of the taxpayer in evaluating properties, that it had been the intention of the taxpayer to purchase the second and third properties (whose gains were reassessed as on income account) primarily for sale for profit with a view to obtaining the funds to purchase the property that would meet his real needs.