Search - connection

Marino had connections to Canada in 2002 to 2011 rather than proceed purely on an Agreed Statement of Facts. ... Put another way, in my view, the only relevant connection to Canada is being within subsection 2(3) in the relevant year. ... Marino had tendered evidence establishing other connections, my decision would have been the same. [67] [128]   Accordingly, even if the Respondent should be considered to have advanced an alternative ground to support the reassessments, Mr. ...

These contributions constituted 35% of the total “eligible expenses” [13] incurred by CAE in connection with Project Falcon and could not exceed $250,000,000 [14]. ... CAE is also required to notify the Minister of Industry Canada of any other government financial assistance requested or received in connection with the Project. ... In addition, these contributions are paid as reimbursements of expenses incurred by CAE in connection with the Falcon project. ...

The activities of the Trust will be the purchase, acquisition, creation and administration of Asset Interests which the Trust purchases or otherwise acquires or creates from time to time for the purpose of producing income therefrom, which purchase, acquisition or creation is to be funded through the issuance of Notes from time to time pursuant to the terms of the Trust Indenture, all in accordance with and subject to the terms and conditions of the Programme Agreements, together with all-such activities as may be reasonably incidental to the foregoing or necessary in connection with the performance by the Trust of its obligations under the Programme Agreements. ... All sales of Purchased Mortgages pursuant to the provisions of this Agreement shall be on a serviced basis, meaning that the Trust shall have no obligation to service the Purchased Mortgages or collect the payments thereunder or to pay further compensation to the Seller for its services in connection therewith as provided for hereunder. ... Article Six reads in part: Application of Mortgage Proceeds. (1) On each Settlement Date, the Trust will apply out of all moneys deposited into the Collections Account (i) on account of principal pursuant to Sections 2.04, 4.02, 5.02(1)(a), 5.03(3), 7.03, 7.04, 7.06, 8.05 and 8.07; and (ii) pursuant to any draw made by the Trust from the proceeds of issuance of Subordinated Notes, in repayment of its current principal obligations under the Senior Notes or the Liquidity Agreement, as the case may be, at such time, an amount that would reduce the Program Amount to an amount equal to the aggregate Net Book Value of all Purchased Mortgages that are not Defaulted Mortgages on such Settlement Date. (2)     On each Settlement Date, the Trust will apply the balance of the moneys so deposited into the Collections Account,          (a)       first, at the option of the Trust, in payment to any holder of an Adverse Claim referred to in Section 5.03(2) to the extent that the Seller has been deemed to have received a Collection pursuant thereto but has not made the payment required pursuant to Section 5.03(3);          (b)       second, in reimbursement of any amount paid by the Seller pursuant to Section 5.04;          (c)       third, in payment of the funding obligations of the Trust incurred by it during the period commencing, in respect of the first Settlement Date, on the related Closing Date and, in respect of each succeeding Settlement Date, on the day following the immediately preceding Settlement Date and ending in each case on such Settlement Date under the Senior Notes and the Liquidity Agreement, as the case may be, in respect of the Program Amount on the immediately preceding Settlement Date and any hedging transaction (other than the Swap Transaction) entered into by the Trust in connection therewith, and under the Subordinated Notes;          (d)       fourth, in payment of any Settlement Amount (as defined in any agreement evidencing a Swap Transaction) payable to the Trust in respect of the immediately preceding Settlement Period;          (e)       fifth, in payment of any Servicer Fees in respect of the immediately preceding Settlement Period;          (f)        sixth, in satisfaction of the aggregate Program Fee payable to the Trust in respect of the period commencing, in respect of the first Settlement Date, on the related Closing date and, in respect of each succeeding Settlement Date, on the day following the immediately preceding Settlement Date and ending in each case on such Settlement Date; and          (g)       seventh, in repayment of any amounts drawn by the Trust from the proceeds of issuance of the Subordinated Notes which remain unpaid at such time. (3)      The balance of the amounts held in the Collections Account after the applications of Section 6.01(2) shall be paid to the Seller by deposit into the Deferred Purchase Account as an adjustment to the purchase price of the Purchased Mortgages. ...

In short, there is a definite visceral person-object connection involved in a purchase.   ... Main criteria used to assess the fair market value:-          Current condition of the works-          significance of the artists in the modern art context-          significance of the works and the relationship with the Laurier Museum 's collection-          connection with the art heritage movement in Quebec and Canada   For the purposes of this appraisal, I quote the definition of fair market value as used by the Cultural Property Review Board in Ottawa:   Fair market value: the highest price a property would bring between a willing buyer and a willing seller who are knowledgeable, informed and prudent and who are acting independently of each other.   ... Fucito named the four main criteria that he used to attribute a value to the donated works:  -          The current condition of the works;-          The importance of the artists in the context of modern art;-          The importance of the works and the link with the Laurier Museum's collection;-          The connection with art heritage movement in Quebec and Canada;   However, upon analysis of his report, it can be seen that his appraisal method can be summarized simply as a calculation of the average price per square centimetre of comparable sales, then multiplied by the surface area of each work appraised. ...

The documents included in Tabs 26-50 were also executed in connection with the above. 12.        ... The amount of $1,100,000 referred to above was paid by Commcorp to MLL as fees in connection with the transaction. [26]     I need not summarize the other formal steps taken in connection with the transactions including legal opinions. ...

Canada [5] the courts asserted that "the purpose test in the definition of 'Canadian Exploration Expense' ("CEE") requires at least some connection between the purchase of seismic data and actual exploration work". At paragraph 35 Sharlow J.A. noted that such a test may be too strict: Evidence of the actual use of the seismic data for exploration could provide that connection. ... A hypothetical connection to exploration work that might be done in the future cannot suffice. [25]     In determining whether a taxpayer has the requisite intention to satisfy the purpose tests, the courts have looked at both the taxpayer's subjective intention and a variety of objective factors. ...

The Adviser is also subject to a monthly charge for the telephone and ethernet connection in the rented office. ... (c) in any other case, the extent (expressed as a percentage) to which the person acquired or imported the property or service or brought it into the participating province, as the case may be, for consumption, use or supply in the course of commercial activities of the person. 141.01 [Allocation of input tax credits]- (1) Meaning of “endeavour” — In this section, “endeavour” of a person means (a) a business of the person; (b) an adventure or concern in the nature of trade of the person; or (c) the making of a supply by the person of real property of the person, including anything done by the person in the course of or in connection with the making of the supply.... (2) Acquisition for purpose of making supplies [limitation on ITCs] — Where a person acquires or imports property or a service or brings it into a participating province for consumption or use in the course of an endeavour of the person, the person shall, for the purposes of this Part, be deemed to have acquired or imported the property or service or brought it into the province, as the case may be, (a) for consumption or use in the course of commercial activities of the person, to the extent that the property or service is acquired, imported or brought into the province by the person for the purpose of making taxable supplies for consideration in the course of that endeavour; and (b) for consumption or use otherwise than in the course of commercial activities of the person, to the extent that the property or service is acquired, imported or brought into the province by the person (i) for the purpose of making supplies in the course of that endeavour that are not taxable supplies made for consideration, or (ii) for a purpose other than the making of supplies in the course of that endeavour. (3) Use for purpose of making supplies — Where a person consumes or uses property or a service in the course of an endeavour of the person, that consumption or use shall, for the purposes of this Part, be deemed to be (a) in the course of commercial activities of the person, to the extent that the consumption or use is for the purpose of making taxable supplies for consideration in the course of that endeavour; and (b) otherwise than in the course of commercial activities of the person, to the extent that the consumption or use is (i) for the purpose of making supplies in the course of that endeavour that are not taxable supplies made for consideration, or (ii) for a purpose other than the making of supplies in the course of that endeavour. (5) Method of determining extent of use, etc. — Subject to section 141.02, the methods used by a person in a fiscal year to determine (a) the extent to which properties or services are acquired, imported or brought into a participating province by the person for the purpose of making taxable supplies for consideration or for other purposes, and (b) the extent to which the consumption or use of properties or services is for the purpose of making taxable supplies for consideration or for other purposes, shall be fair and reasonable and shall be used consistently by the person throughout the year. [30]         The current version of subsection 141.01(5), contained in the Appellant’s Book of Authorities, references section 141.02, and was enacted in 2010 effective for fiscal years that begin after March 2007. ... Pentney Deputy Attorney General of Canada Ottawa, Canada     [1]           I note that these three numbers add up to $1,279,180.51, so there is a very small rounding error. [2]           Transcript at pages 50 to 51. [3] Transcript at pages 25 to 26. [4] Transcript at page 42. [5] Some of the numbers on the spreadsheets in Tabs 1, 2 and 3 of the Joint Book appear to reflect rounding by the software program that is not material. [6]           An endeavour of a person is defined in subsection 141.01(1) to mean (a) a business of the person, (b) an adventure or concern in the nature of trade of the person, or (c) the making of a supply by the person of real property of the person, including anything done by the person in the course of or in connection with the making of the supply. [7]           The endeavour in this case is the business of Sun Life. ...

S. 85.(1)           Transfer of property to corporation by shareholders (1) Where a taxpayer has, in a taxation year, disposed of any of the taxpayer's property that was eligible property to a taxable Canadian corporation for consideration that includes shares of the capital stock of the corporation, if the taxpayer and the corporation have jointly elected in prescribed form and in accordance with subsection (6), the following rules apply: (a)         the amount that the taxpayer and the corporation have agreed on in their election in respect of the property shall be deemed to be the taxpayer's proceeds of disposition of the property and the corporation's cost of the property; (b)         subject to paragraph (c), where the amount that the taxpayer and the corporation have agreed on in their election in respect of the property is less than the fair market value, at the time of the disposition, of the consideration therefor (other than any shares of the capital stock of the corporation or a right to receive any such shares) received by the taxpayer, the amount so agreed on shall, irrespective of the amount actually so agreed on by them, be deemed to be an amount equal to that fair market value; (c)         where the amount that the taxpayer and the corporation have agreed on in their election in respect of the property is greater than the fair market value, at the time of the disposition, of the property so disposed of, the amount so agreed on shall, irrespective of the amount actually so agreed on, be deemed to be an amount equal to that fair market value; (c.1)      where the property was inventory, capital property (other than depreciable property of a prescribed class), a NISA Fund No. 2 or a property that is eligible property because of paragraph (1.1)(g) or (g.1), and the amount that the taxpayer and corporation have agreed on in their election in respect of the property is less than the lesser of (i)                   the fair market value of the property at the time of the disposition, and (ii)                 the cost amount to the taxpayer of the property at the time of the disposition, the amount so agreed on shall, irrespective of the amount actually so agreed on by them, be deemed to be an amount equal to the lesser of the amounts described in subparagraphs (i) and (ii); (c.2)      subject to paragraphs (b) and (c) and notwithstanding paragraph (c.1), where the taxpayer carries on a farming business the income from which is computed in accordance with the cash method and the property was inventory owned in connection with that business immediately before the particular time the property was disposed of to the corporation, (i)                   the amount that the taxpayer and the corporation agreed on in their election in respect of inventory purchased by the taxpayer shall be deemed to be equal to the amount determined by the formula (A × B/C) + D where A          is the amount that would be included because of paragraph 28(1)(c) in computing the taxpayer's income for the taxpayer's last taxation year beginning before the particular time if that year had ended immediately before the particular time, B           is the value (determined in accordance with subsection 28(1.2)) to the taxpayer immediately before the particular time of the purchased inventory in respect of which the election is made, C          is the value (determined in accordance with subsection 28(1.2)) of all of the inventory purchased by the taxpayer that was owned by the taxpayer in connection with that business immediately before the particular time, and D          is such additional amount as the taxpayer and the corporation designate in respect of the property, (ii)                 for the purpose of subparagraph 28(1)(a)(i), the disposition of the property and the receipt of proceeds of disposition therefore shall be deemed to have occurred at the particular time and in the course of carrying on the business, and (iii)                where the property is owned by the corporation in connection with a farming business and the income from that business is computed in accordance with the cash method, for the purposes of section 28, (A)                               an amount equal to the cost to the corporation of the property shall be deemed to have been paid by the corporation, and (B)                               the corporation shall be deemed to have purchased the property for an amount equal to that cost, at the particular time and in the course of carrying on that business; (d)         where the property was eligible capital property in respect of a business of the taxpayer and the amount that, but for this paragraph, would be the proceeds of disposition of the property is less than the least of (i)                   4/3 of the taxpayer's cumulative eligible capital in respect of the business immediately before the disposition, (ii)                 the cost to the taxpayer of the property, and (iii)                the fair market value of the property at the time of the disposition, the amount agreed on by the taxpayer and the corporation in their election in respect of the property shall, irrespective of the amount actually so agreed on by them, be deemed to be the least of the amounts described in subparagraphs (i) to (iii); (d.1)      for the purpose of determining after the time of the disposition the amount to be included under paragraph 14(1)(b) in computing the corporation's income, there shall be added to the amount otherwise determined for Q in the definition "cumulative eligible capital" in subsection 14(5) the amount determined by the formula                                     (A x B/C)- 2(D- E) where A    is the amount, if any, determined for Q in that definition in respect of the taxpayer's business immediately before the time of the disposition, B    is the fair market value immediately before that time of the eligible capital property disposed of to the corporation by the taxpayer, C    is the fair market value immediately before that time of all eligible capital property of the taxpayer in respect of the business, D    is the amount, if any, that would be included under subsection 14(1) in computing the taxpayer's income as a result of the disposition if (i)        the amounts determined for C and D in subparagraph 14(1)(a)(v) were zero, and (ii)      paragraph 14(1)(b) were read as follows: "(b) in any other case, the excess shall be included in computing the taxpayer's income from that business for that year. ...

On February 25, 1994, Vidéotron and the Tremblay family entered into an agreement whereby Vidéotron would [translation] "lend its assistance indirectly and subsidiarily during the final stages of the corporate reorganization" planned by the Tremblay family, provided that each of the conditions listed in the agreement was met, including:                                       (i)                   The Tremblay family was to waive $200,928.52 in interest on the debentures and $335,071.48 in dividends on the preferred shares;                                   (ii)                   Vidéotron's board of directors, at its sole discretion, was to approve the issue of the subordinate shares of Vidéotron's capital stock in consideration of the purchase of shares of a corporation owned by the Tremblay family;                                  (iii)                   The Tremblay family was to provide an undertaking to compensate Vidéotron for any claim that might arise out of the share for share exchange and the winding‑up of 8855; the Tremblay family was also to provide an irrevocable bank letter of credit for at least $1,000,000 that would be valid for five years from the date it was issued;                                 (iv)                   Vidéotron was to obtain exemptions from the Commission des valeurs mobilières du Québec and authorizations from the Montreal Stock Exchange and the Toronto Stock Exchange, and the Tremblay family was to provide the undertakings required by those stock exchanges in respect of the resale or disposition of the subordinate shares to be issued as part of the reorganization;                                   (v)                   The Tremblay family was to pay all costs, professional and other fees, and expenses incurred by Vidéotron, its advisors and its auditors in connection with the reorganization as of the date on which the Tremblay family first approached Vidéotron, that is, January 27, 1994;                                 (vi)                   The reorganization was to be completed by April 8, 1994. ... The respondent is not contesting the application of section 85.1 of the Act to the share for share exchanges between the appellants and Vidéotron Ltée, despite the fact that Vidéotron Ltée clearly acted as a "facilitator" so that the members of the Tremblay family could achieve their objectives in consideration, inter alia, of (i) a waiver by the members of the Tremblay family of more than $500,000 in interest owed on the debentures and in dividends owed on the preferred shares; (ii) an undertaking by the members of the Tremblay family to compensate Vidéotron Ltée for any claim that might arise out of the share for share exchanges and the winding‑up of 8855, this undertaking being secured by an irrevocable bank letter of credit for at least $1,000,000 for five years from the date it was issued; and (iii) payment by the members of the Tremblay family of all costs, professional and other fees, and expenses incurred by Vidéotron Ltée in connection with the reorganization. ... On the other hand, Vidéotron Ltée did lend its assistance indirectly and subsidiarily during the final stages of the corporate reorganization that the Tremblay family proposed to carry out, and it made money from its participation by requiring the Tremblay family to waive $200,928.52 in interest on the debentures and $335,071.48 in dividends on the preferred shares and by having the Tremblay family pay all costs, professional and other fees, and expenses incurred by Vidéotron Ltée, its advisors and its auditors in connection with the reorganization ...

TRANSFER TO MY TRUSTEES I GIVE, DEVISE AND BEQUEATH all of my property, both real and personal, of every nature and kind, wheresoever situate, including any property over which I may have a general power of appointment, to my Trustees upon the following trusts: DEBTS & DEATH TAXES (a) To pay out of and charge to the general capital of my estate all my just debts, funeral and testamentary expenses and all estate, inheritance, succession duties and taxes whether imposed by or pursuant to the law of this or any jurisdiction whatsoever that may be payable in connection with any property passing (or deemed so to pass by any governing law) on my death or in connection with any insurance on my life or any gift or benefit given or conferred by me either during my lifetime or by survivorship or by this my Will or any Codicil hereto and whether such duties or taxes be payable in respect of estates or interest to fall into possession at my death or at any subsequent time; and I hereby authorize my Trustees to defer, commute or prepay any such taxes or duties. This direction shall not extend to or include any such taxes that may be payable by a purchaser or transferee in connection with any property transferred to or acquired by such purchaser or transferee upon or after my death pursuant to any agreement with respect to such property. ...