Date: 20010314
Docket: A-492-99
Neutral citation: 2001 FCA 61
| CORAM: ROTHSTEIN J.A. |
SHARLOW J.A.
MALONE J.A.
BETWEEN:
DOLORES SHERRY
Appellant
- and -
HER MAJESTY THE QUEEN
Respondent
Heard at Toronto, Ontario, Wednesday, March 14, 2001
Judgment delivered from the Bench at Toronto, Ontario,
on Wednesday, March 14, 2001
REASONS FOR JUDGMENT OF THE COURT BY: SHARLOW J.A.
Date: 20010314
Docket: A-492-99
Neutral citation: 2001 FCA 61
| CORAM: ROTHSTEIN J.A. |
SHARLOW J.A.
MALONE J.A.
BETWEEN:
DOLORES SHERRY
Appellant
- and -
HER MAJESTY THE QUEEN
Respondent
REASONS FOR JUDGMENT OF THE COURT
(Delivered from the Bench at Toronto, Ontario
on Wednesday, March 14, 2001)
SHARLOW J.A.
| _. This is an appeal from the decision of a Tax Court Judge that certain rental losses claimed by the Appellant in 1989, 1990, 1991, 1992, 1993 and 1994 were not deductible because there was no reasonable expectation of profit. The properties were highly leveraged so that most of the losses were the result of interest costs far in excess of rents. Before the Tax Court Judge, the Appellant attempted to explain why the rents were lower than she had anticipated, but he found that her explanations were unsubstantiated. Given the record before the Tax Court Judge, we are unable to conclude that he erred in law. For that reason, this appeal must be dismissed. |
"Karen R. Sharlow"
J.A.
FEDERAL COURT OF CANADA
Names of Counsel and Solicitors of Record
| DOCKET: A-492-99 |
| STYLE OF CAUSE: DOLORES SHERRY |
Appellant
- and -
HER MAJESTY THE QUEEN
Respondent
DATE OF HEARING: WEDNESDAY, MARCH 14, 2001
PLACE OF HEARING: TORONTO, ONTARIO
REASONS FOR JUDGMENT
| OF THE COURT BY: SHARLOW J.A. |
Delivered from the Bench at Toronto, Ontario on Wednesday, March 14, 2001
APPEARANCES BY: Ms. Dolores Sherry
| For the Appellant on her own behalf |
Ms. Carol Calabrese
| For the Respondent |
SOLICITORS OF RECORD: Dolores Sherry
151 Glendonwynne Road
Toronto, Ontario
M6P 3E8
| For the Appellant on her own behalf |
| Morris Rosenberg |
| Deputy Attorney General of Canada |
| For the Respondent |
FEDERAL COURT OF APPEAL
Date: 20010314
Docket: A-492-99
BETWEEN:
DOLORES SHERRY
Appellant
- and -
HER MAJESTY THE QUEEN
Respondent
| REASONS FOR JUDGMENT |
OF THE COURT