Income tax appeals allowed in part to permit deduction of certain business, rental, and vehicle expenses.
The appellants, an individual and his wholly-owned telecommunications corporation, appealed income tax reassessments for the 2015 and 2016 taxation years.
The Minister had disallowed various rental and business expenses, including interest, maintenance, home office, and vehicle expenses, and had assessed shareholder benefits.
The Tax Court of Canada allowed the appeals in part, finding that the individual was entitled to deduct certain interest and home office expenses, and that the vehicle was used 80% for business purposes.
The Court also reduced the shareholder benefits and allowed the corporation to deduct management fees and a portion of the vehicle expenses.
