In its latest GAAR decision, Triad Gestco Ltd. v. The Queen released on October 15, 2012, the Federal Court of Appeal applied the GAAR to deny the taxpayer’s capital loss on the basis that the taxpayer had not suffered a current economic loss. The court reached this conclusion even though the capital loss deduction rules do not expressly require an actual economic loss.
Click here to read an in-depth analysis of the case written by Richard Bennett and Patrick Lindsay and published in Tax Notes International.
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Tuesday, October 30, 2012
Posted by Daniel Katev at 5:53 PM