Thursday, August 20, 2009

Montreal Stripper Keeps $2M In Untaxed Gifts

From The CBC:

A former Montreal stripper has won her case against the Canada Revenue Agency, convincing a Tax Court that nearly $2 million from a client was a gift and so couldn't be taxed.

With Thursday's decision, Martine Landry won the first round of her battle to keep all of the $1.3 million in cash, two cars, a bar, a home, furs and jewels — a total value of $2 million — she received from a businessman she knew for 11 years.

The cash and items were given to her over a period of five years.

The Canada Revenue Agency and Revenue Quebec viewed the sums as income so they each sent Landry income tax bills for $400,000 and $643,000 respectively.

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