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Proposed fee cap on disability tax credit consulting stalls once again.Make the most of your childвЂ™s RESP with this year-end planning checklist.

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This advertisement has not loaded yet, but your article continues below. The taxpayer argued she intended to live in the property, she did occupy it when it became available, and she moved out вЂњbecause of life-changing eventsвЂќ - her engagement and subsequent marriage - which caused her to relocate to the U.S. Prior jurisprudence called this latter test of motive, or the taxpayerвЂ™s intention, вЂњa factor of utmost importance.вЂќ The judge reviewed the age-old tests that are used in determining whether a gain realized on the sale of a property is an income gain or a capital gain: the nature of the property sold, the length of the ownership period, the frequency or number of similar transactions, the work expended on or in connection with the property, the circumstances that were responsible for the sale of the property, and, finally, the taxpayerвЂ™s motive. It specifically excludes an individual who buys the property for personal use, and not for use in the course of a business or an adventure in the nature of trade. Under the Excise Tax Act, a builder is someone who buys a residence for the primary purpose of selling or leasing. The substantive issue before the Tax Court was whether the taxpayer should be considered a builder who made a taxable sale when she sold the property and, therefore, had to charge and remit HST thereon. It turns out that in June 2018, вЂњas a kind of ironic thanks,вЂќ the CRA deemed her to be a вЂњbuilderвЂќ under the Excise Tax Act, and hit her with $33,650 of HST (after rebate), $20,000 of arrears interest and a $2,200 non-filer penalty. How, then, did she end up in Tax Court this fall?

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She initially objected to that reassessment, but the CRA in February 2017 ultimately confirmed it, and the taxpayer, for reasons unknown, chose not to appeal to the Tax Court and paid the tax owing - in full - while living in the U.S. The net proceeds, after the sales commission, was about $43,000 and the CRA classified this as business income, assessing tax owing of $22,000. In 2015, the taxpayer was audited and reassessed for the 2012 tax year by the CRA for unreported business income arising from the disposition of the townhouse. She decided to list and sell the property around April 2012 and it was sold in June 2012 for $478,000, netting her a modest profit after commission.ДЄfter selling and vacating the property, she briefly lived with a relative in the Toronto area before emigrating from Canada in December 2012, moving to the U.S., where she lives to this day with her now-husband. In early 2012, she made plans to exit Canada in anticipation of her move to the U.S. citizen, back in December 2010, she wasnвЂ™t ready to alter her original plan to live in the property.ДЄs time progressed, the taxpayerвЂ™s relationship with her then-fiancГ©e grew and became permanent. Although she met and started a relationship with her current husband, a U.S.

She ultimately took possession of the property in May 2011 and physically began residing there that same month. It was her intention when she signed the purchase agreement to occupy the property as her residence. The taxpayerвЂ™s saga began back in 2007 when she signed an agreement with a builder to purchase a pre-construction townhouse for $413,000 in Markham, Ont.