Findlay v. Canada (2000)

Date: 20000512

Docket: A-424-97

CORAM: STRAYER J.A.

ISAAC J.A.

SEXTON J.A.

BETWEEN:

IAN JOSEPH FINDLAY

Appellant

- and -

HER MAJESTY THE QUEEN

Respondent

Heard at Toronto, Ontario, Wednesday, May 10, 2000

and Friday, May 12, 2000.

Judgment delivered from the Bench at

Toronto, Ontario on Friday, May 12, 2000.

REASONS FOR JUDGMENT OF THE COURT BY: ISAAC J.A.

Date: 20000512

Docket: A-424-97

CORAM: STRAYER J.A.

ISAAC J.A.

SEXTON J.A.

BETWEEN:

IAN JOSEPH FINDLAY

Appellant

- and -

HER MAJESTY THE QUEEN

Respondent

REASONS FOR JUDGMENT OF THE COURT

(Delivered from the Bench at Toronto, Ontario

on Friday, May 12, 2000)

ISAAC J.A.

[1] This is an appeal from a judgment of a Judge of the Tax Court of Canada which dismissed the appellant"s appeal from an assessment made under the Income Tax Act (the " Act ") for the taxation year 1991.

[2] The facts of the case are set out at great length in the reasons for judgment of the learned Tax Court Judge. They are reported in 97 D.T.C. 1149. We will therefore limit recitation of the facts here to bare essentials in order to provide factual context for analysis of the issues presented to us for resolution.

[3] Before 1991, the appellant operated three video stores in the province of Ontario as a sole proprietorship. In 1991, on the advice of his lawyer, he incorporated the business and rolled over the assets in the corporation. The rollover generated some capital gains.

[4] For some years prior to 1991, the appellant...

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