What is the purpose of section 18(3.1) of the Canadian Tax Code?
Canada (Federal), Canada
The following excerpt is from Janota v. The Queen, 2010 TCC 395 (CanLII):
In Trynchy v. R., 2001 FCT 1023 (CanLII), [2001] 4 C.T.C. 130, at paragraph 1, Campbell J. discusses the purpose of subsection 18(3.1) stating: By the budget of November 1981, the federal government changed the tax law to limit the ability of investors to write off “soft costs” of construction projects against current account income.
In J.H. Kuhlmann v. Canada, 95 D.T.C. 417, at paragraph 11, Bowman J. defined “soft costs” in the following unnumbered paragraph: It is sought here to deduct what are somewhat ambiguously called “soft costs” – a term of some elasticity comprising, I gather, costs not directly attributable to the bricks and mortar and labour involved in creating the building, such as financing costs, legal fees, commissions, carrying costs, municipal taxes, landscaping and similar expenses.
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