Proceeds from the sale of a renovated property were a capital gain, not self-employment income.
The applicant was injured in a motorcycle accident and applied for income replacement benefits (IRBs).
He argued that the proceeds from the sale of a property he renovated should be treated as business income from self-employment and included in the calculation of his IRBs.
The insurer argued the proceeds were a capital gain and should be excluded.
The arbitrator found that the applicant was not self-employed in a business related to the property, as he did not have an established business location, did not register a business, and the transaction was not obviously commercial in nature.
The proceeds were determined to be a capital gain and excluded from the IRB calculation.
The applicant was awarded his expenses for the arbitration proceeding due to the complexity of the issues.
OFSCDRSOntario Financial Services Commission - Dispute Resolution ServicesDec 5, 1997
