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HKL Tax Law

HKL Tax Law

Montreal Tax Lawyer

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Normal Reassessment Period

There Must Be an Intention to Profit for a Business to Exist

EL · May 31, 2022 ·

In Canada v. Paletta, the Federal Court of Appeal clarified that, in order for a business to exist, there must be an intention to earn a profit. Absent such intention, there is no business and therefore no “source of income”.

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• Canada Pension Plan
• Customs Act
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Employment Insurance Act
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Excise Act, 2001
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Excise Tax Act (GST)
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Act respecting the QST
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Income Tax Act
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Taxation Act (Quebec)
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Tax Administration Act (Quebec)
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Old Age Security Act

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