Microsoft Must be held accountable.

[Fraser Campbell]

On Monday 13 October 2003 01:05, Henry Spencer wrote:

> (* You can deduct business losses -- roughly speaking, the excess of
> business expenses over business income -- against other income, e.g. from
> employment, *provided* the Feds believe that your business is legitimate
> and is truly intended to earn a profit.  This is an area which has seen
> many abuses, so any business which makes losses, year after year, that
> are then deducted against employment income, had better have a really

I believe that "reasonable expectation of profit" is no longer a valid test 
for CCRA.  There was a supreme court ruling on May 23, 2002 that says "Where 
the nature of an activity is clearly commercial, there is no need to analyse 
the taxpayer's business decisions".  So you can lose money ad-infinitum ... 
this is from "The 10 Secrets Revenue Canada Doesn't Want You To Know" by 
David Voth (2002 edition).

-- 
Fraser Campbell <fraser-Txk5XLRqZ6CsTnJN9+BGXg at public.gmane.org>                 http://www.wehave.net/
Halton Hills, Ontario, Canada                             Debian GNU/Linux

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