Bloomberg Tax
May 25, 2023, 3:42 PM

Canada Aerospace Firm Loses Bid to Appeal Tax Deduction Case

James Munson
James Munson
Freelance Correspondent

Canada’s supreme court Thursday dismissed an aerospace company’s push to have a court authorize a claim of $116.1 million in government loans as a tax deduction.

The Supreme Court of Canada denied Montreal-based CAE Inc.’s application to appeal an October 19 ruling from the Federal Court of Canada. The top court doesn’t provide reasons when it denies appeal applications.

  • The Federal Court of Appeal ruling backed the Canada Revenue Agency’s view that the money CAE received from the federal Strategic Aerospace and Defence Initiative in 2012 and 2013 couldn’t be used against the company’s income because it was not commercial ...

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