Breaking News: Tax Court allows appeal in GAAR case
The Tax Court of Canada has allowed the appeal of the appellant in 594710 British Columbia Ltd. v. The Queen, 2013-4033(IT)G. The Court held that the Respondent failed to demonstrate abusive tax avoidance at the primary tax debtor level by failing to demonstrate a general policy in the Income Tax Act against profit trading which had been abused. A copy of the decision should be available on the Court’s website soon.