What is the test for exemption of capital, stock and all property of a company?
Saskatchewan, Canada
The following excerpt is from Reference re Taxation of Canadian Pacific Railway Company, 1949 CanLII 195 (SK CA):
Learned counsel for the railway company argue that the exemption of the capital, stock of the company means the exemption of all the property of the company and for this contention relies on the decision in Wright v. Georgia RR. & Banking Co. (1910) 216 US 420, 54 Law Ed 544.
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