The Federal Court of Appeal Finds in Favour of Taxpayer on Interest Deductibility Where Funds were Borrowed to Acquire Common Shares

FCA released its decision in TDL Group Co. v. The Queen, 2016 FCA 67, allowing the taxpayer’s appeal and finding that interest incurred by the taxpayer to acquire common shares was deductible.

Prepared by: Asif Abdulla

Asif Abdulla is a partner working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »