Jobin v. Canada (Attorney General)

Jobin v. Canada (Attorney General)

Because subsection 18(2) of the Income Tax Act limits the deductibility of interest and property taxes and the applicant's vacant properties neither produced income nor were sold in the years at issue, the contested property taxes and financial costs were not deductible and the Tax Court's upholding of the...

Source-derived case information.

Citation
2004 FCA 386
Parties
Applicant: Christiane Jobin; Respondent: Attorney General of Canada
Court
Federal Court of Appeal
Jurisdiction
Canada
Judgment Date
17 November 2004
Procedural Posture
Judicial Review / Final Judgment on Appeal
Outcome
Application for judicial review dismissed with costs.
Legal Topics
Deductibility of Interest and Property Taxes, Income Tax Act S.18(2), Business Income Computation, Vacant Property Held as Inventory
Source Language
en
Tax Law Administrative Law Income Tax Deductibility of Interest and Property Taxes Income Tax Act S.18(2) Business Income Computation Vacant Property Held as Inventory

Source-derived case record

Summary, issues, holding and outcome

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Parties

Christiane Jobin

Applicant

Attorney General of Canada

Respondent

Procedural Posture

Judicial Review / Final Judgment on Appeal

  1. 1 Whether property taxes and financial costs related to land held in inventory are deductible under the Income Tax Act s.18(2) for years 1993-1996 when the properties were vacant and did not produce income or were not sold
  2. 2 Whether the Tax Court judge erred in upholding the Minister's assessments

Ratio Decidendi

Because subsection 18(2) of the Income Tax Act limits the deductibility of interest and property taxes and the applicant's vacant properties neither produced income nor were sold in the years at issue, the contested property taxes and financial costs were not deductible and the Tax Court's upholding of the Minister's assessments was correct.

Court Disposition

Application for judicial review dismissed with costs.

Orders

  • Application for judicial review dismissed with costs.