In this podcast,
Kenneth Keung and
Kim G C Moody review a recent Tax Court of Canada decision - Bruce Jackman / Nancy Jackman v. HMQ 2022 TCC 73. This case is a rather entertaining case (at least for tax geeks ) which dealt with the amount, if any, of the taxable benefit received by the use of a boat owned by a corporation that operated a marina business. Some of the marketing activities involving the boat and the Jackmans might have even been pleasurable and fun! The blunt decision by the Tax Court Judge - who found in favour of the Jackmans - is refreshing and a good reminder of the law on personal use benefits that might be received by shareholders when using corporate assets. Happy listening!
