Taxpayer claimed donation tax credits of $19,340 for 2009 and $15,252 for 2010 per s. 118.1 of Income Tax Act. Minister reassessed taxpayer’s 2009 and 2010 taxation years’ liabilities and disallowed donation tax credits. Minister assumed that property ostensibly donated was worthless despite taxpayer’s filing with Minister charitable gift receipt stating that property had value of $35,000. Taxpayer objected to reassessments, which subsequently Minister reaffirmed. Taxpayer appealed. Appeal dismissed. Taxpayer brought no evidence to displace Minister’s assumption that fair market value of corporate shares taxpayer claimed as having been donated to charity was nil. Available tax credit for purposes of s. 118.1 of Act was determined on basis of fair market value of donated property, which here was nil.
Lappan v. The Queen (2017), 2017 CarswellNat 6940, 2017 CarswellNat 6983, 2017 TCC 240, 2017 CCI 240, B. Russell J. (T.C.C. [Informal Procedure]).