Stephanie D’Amico

The Respondent brought a motion to quash the Estate's appeal, arguing that Notices of Penalty Reassessments were mailed on March 17, 2023, and the Estate failed to serve valid Notices of Objection within the statutory timelines.

The Estate contended the notices were not mailed until March 2025.

Evaluating CRA processes and evidence, the Tax Court found it more likely than not that the notices were not mailed prior to March 3, 2025.

The Respondent's motion to quash the appeal was dismissed.

The appellant claimed a non-capital loss for the 2017 taxation year after her Bitcoin investments held with the cryptocurrency exchange QuadrigaCX vanished.

The Minister denied the loss.

The Tax Court found that the appellant had expended C$473,241.74 to acquire Bitcoin and that it was more likely than not that she suffered a loss due to fraud.

Applying the test for an adventure in the nature of trade, the Court concluded that the appellant's activities were undertaken in pursuit of profit and constituted a business.

The appeal was allowed and the matter referred back to the Minister for reassessment on the basis that the appellant is entitled to a C$473,241.74 non-capital loss.

The applicant challenged her mother's 2015 will, alleging lack of knowledge and approval, lack of testamentary capacity, and suspicious circumstances.

The 2015 will divided the estate equally among the three children, whereas a previous 2013 will had left the majority of the estate to the applicant.

The court found no suspicious circumstances, preferring the evidence of the drafting solicitor and the deceased's family doctor over the retrospective analysis of the applicant's expert geriatric psychiatrist.

The court concluded the deceased had the necessary testamentary capacity and dismissed the application.