40(1)(b)

Income Tax Folio S3-F4-C1, General Discussion of Capital Cost Allowance

Series 3:  Property, Investments and Savings Plans Folio 4: Capital Cost Allowance Chapter 1: General Discussion of Capital Cost Allowance Summary Capital cost allowance (CCA) replaces accounting depreciation for income tax purposes. A taxpayer who acquires and uses depreciable property to earn income from a business or property is generally entitled to claim a portion of the capital […]

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Federal Court of Appeal Rules Paper Losses Cannot Offset Realized Capital Gains: 2763478 Canada Inc. v. Canada (2018 FCA 209)

FACTS Jobin owned shares in Groupe AST (assume FMV = $13 million and ACB = $nil). He received an offer for his shares from a third-party purchaser. To minimize his taxes, Jobin undertook the following steps. Jobin rolled his shares in Groupe AST – which had a fair market value of $13 million – on

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2763478 Canada Inc. v. Canada

2763478 Canada Inc. v. Canada Summary Click here for our summary of this case. Court (s) Database Federal Court of Appeal Decisions Date 2018-11-15 Neutral citation 2018 FCA 209 File numbers A-243-17 CORAM: NOËL C.J. BOIVIN J.A. DE MONTIGNY J.A BETWEEN: 2763478 CANADA INC. Appellant and HER MAJESTY THE QUEEN Respondent Heard at Montréal ,

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