On April 16, 2009, the Federal Court of Appeal affirmed the decision of the Tax Court of Canada in The Queen v. Gary Landrus, holding that the general antiavoidance rule (“GAAR”) did not deny the deduction of a “terminal loss” under subsection 20(16) of the Income Tax Act (Canada) (“ITA”) (...)

type Tax Law Bulletin - May 2009 - Landrus: Specificity Outs GAAR