This case involved a Company which purchased both a category "C" vessel based licence and a category "ZN" personal licence in 1992 for $150,000 dollars. The purchaser claimed the cost of purchasing the licences as an expense when filing its 1992 income tax return. Revenue Canada disallowed this deduction. The issue of the case was whether the cost of acquisition …Full Summary
These summaries of recent Fisheries law cases are prepared by Brad Caldwell of Caldwell & Co., 401-815 Hornby Street, Vancouver, B.C., V6Z 2E6. Telephone (604) 689-8894, E-mail: firstname.lastname@example.org. Papers related to Fisheries law and additional groupings of Fisheries law cases by sub-topic can be obtained at the full version of the website.
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