Supreme Court Hearings - Envision Credit Union v. Her Majesty the Queen
Envision Credit Union v. Her Majesty the Queen (March 19, 2013)
Case # 34466
Two British Columbia credit unions amalgamated under the Credit Union Incorporation Act on January 1, 2001. The two amalgamated unions became Envision Credit Union. In its tax returns from 2001 to 2004, Envision claimed a capital cost allowance on the depreciable assets it owned by virtue of the amalgamation. In its reassessment, the minister reduced the capital cost allowance. Envision appealed the reassessments to the Tax Court of Canada. The Federal Court of Appeal rejected Envision’s appeal.