Is there any difference between management fees and tax gross-up?
British Columbia, Canada
The following excerpt is from Townsend v. Kroppmanns, 2002 BCCA 365 (CanLII):
He suggested that factors relevant to the determination of management fees might be different from those relevant to tax gross-up, and distinguished Morrison v. Hicks, supra, on that basis.
In Fischuk v. Wickert, [1999] B.C.J. No. 2135 (S.C.), Mr. Justice Hunter felt bound to follow Bracey v. Jahnke (para.21) but was clearly uncomfortable in doing so. He thought it was wrong in principle to deduct legal expenses from the capital sum to be invested before calculating the award for management fees. He said:
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