ACCT 3350 Lecture Notes - Lecture 7: Promissory Note, Wolters Kluwer, Tax Preparation In The United States
18 Apr 2019
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Document Summary
We have found and analyzed two cases with important use of principal residence laws. The first is r. v. patry and has to do with taxpayers retroactively changing the nature of a piece of real estate for the purposes of adjusting their taxes owing. Canada, and it revolves around the transfer of ownership of a property. Together, these two cases provide useful insight into rulings on principal residence issues and how the income tax act addresses certain issues. The first case is r. v. patry, 2018 dtc 5105, in the supreme court of british columbia (august 17, 2018). The crown had accused raymond and tara patry of with 6 counts of indictable offences. They are: patry, between december 31, 2005 and august 21, 2008, wilfully evaded or attempted to evade income taxes of ,873. 31 by failing to report taxable income of ,813. 32, contrary to s. 219(1)(d) of the ita.
