Dr. Brown was involved in a friend's business, Mining - co. Dr. Brown was hesitant to get involved with this adventure, as he preferred to invest in real estate as opposed to securities. In fact, this investment represented Dr. Brown's only investment in securities. When he made this investment, he intended that it be a long-term one. Dr. Brown's role with Mining-co was to help with office administration and serve as a director of the company. He was not directly involved in any share offerings or other financial matters for the company. When Mining-co was originally established in 20X2, Dr. Brown purchased 50,000 shares through a private placement. Six months later he purchased 50,000 more. Dr. Brown drew down his shareholder loan in the medical practice to finance the purchases. In 20X3, Dr. Brown had approximately 25 sales of his Mining-co shares. Dr. Brown reported the gains from these sales as capital gains in his 20X3 tax return. CRA recently issued an assessment taxing these gains as income gains, on the basis that Dr. Brown was a trader in securities. CRA did not raise the issue of whether Dr. Brown's activities were an adventure in the nature of trade. Dr. Brown tells you that he sold the shares to raise cash for certain financial obligations he was encountering - a malpractice suit, real estate purchases, and other potential investments. He also says that the reason for a large number of transactions is that the shares of Mining-co are not widely traded. Therefore he had to sell many smaller segments of shares in order to raise the cash he required. In 20X4, due to stress and the need to focus on his other issues, Dr. Brown ceased working for Mining-co and disposed of the balance of his shares, realizing a large gain. Required Dr. Brown needs your assistance in this matter. He wants to know if he should object to the CRA assessment that he is a trader in securities. In your discussions with him, the issue of adventure in nature of trade was raised, but Dr. Brown does not want advice in this regard until CRA raises the issue. However, Dr. Brown does want to know if there is any way he can guarantee capital gains treatment for the gains realized in 20X4.