Is it possible for someone with the best will in the world to practise an activity that takes all his or her time and that activity still constitute a business?
Canada (Federal), Canada
The following excerpt is from Sebulski v. The Queen, 1999 CanLII 588 (TCC):
In the case of Landry v. The Queen, 94 D.T.C. 6624, Décary, J. stated as follows: "It is possible for someone, with the best will in the world, to practise an activity that takes all his or her time and that activity may still not be a business for the purposes of the Income Tax Act ("the Act"). For the purposes of determining whether there is a source of income, only an activity that is profitable or that is carried on with a reasonable expectation of profit is a business..."
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