Interesting article from last March discussing this. This quote kind of caught my attention.
Quote:
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Of significance, Justice Bowman, the trail judge, placed great weight on the fact the overall purpose of the series of transaction was "to make interest on money used to buy a personal residence deductible" which, under our tax laws, cannot be deductible but for some type of supportable tax transaction(s) (it is the exact opposite in the U.S. where interest is deductible).
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http://blogs.money.aol.ca/2008/03/19...e-lipson-case/
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—Bill Clinton
"The greatest obstacle to discovery is not ignorance--it is the illusion of knowledge."
—Daniel J. Boorstin, historian, former Librarian of Congress
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