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18 November 1991 Ruling 912981 F- Deductibility of Consideration Paid for Player Rights Unedited CRA Tags 9 Dear Sirs: Re:  Deductibility of Consideration Paid for Player Rights This is in reply to your letter of  24(1) concerning the deductibility, for purposes of the Income Tax Act, of consideration paid for player rights in the following hypothetical situation: "A partnership (the "Partnership") will pay a fee to obtain membership in a professional sports league with all the privileges of membership, including a franchise for a team in a particular city, and the rights to select players with league experience from the present teams in the league and to priority drafting position in 1992 player drafts (such rights collectively referred to as the "Player Rights").  ...

4 April 1990 Income Tax Severed Letter 90M04438 F- Transfers for Inadequate Consideration Unedited CRA Tags 85(1)(e.2), 86(2), 87(4), 51(2), 55(2), 110.6(7)      24(1)      April 4, 1990      PART II Transfers for Inadequate Consideration {85(1)(e.2); 86(2); 87(4) and 51(2)} The corporate reorganization sections in the Income Tax Act contain provisions which impose "penalties" for transfers to or share exchanges with corporations where the value of the property given up exceeds the value of the property received, and "it is reasonable to regard any part of such excess as a benefit that the taxpayer desired to have conferred on a person related to the taxpayer. ...

13 May 2014 External T.I. 2014-0525491E5- Emigration to Poland- Various tax considerations CRA Tags 212(1)(h) Treaties Article XVII Treaties Article XVIII 212(1)(l) Treaties Article III Principal Issues: 1) Canadian withholding tax implications in respect of monthly RPP, RRSP, OAS, CPP and QPP payments and a RRSP lump sum payment received by an individual resident of Poland; 2) Canadian income tax implications in respect of sale of a piece of land situated in Canada by an individual prior to and after his/her emigration from Canada; and 3) Limitation period in paragraph 3 of Article 23 of the Canada-Poland Tax Treaty. ...

15 October 2009 Internal T.I. 2009-0314641I7- Tax Considerations in an International Insolvency Unedited CRA Tags s. 20(1)(c), 111(1), 128(1)(d) ITA s. 150(1)(a), 152(4), 152(7) ITA s. 4.1, 121(1) BIA s. 11, 12, 18.6 CCAA Principal Issues: 1. ... October 15, 2009 XXXXXXXXXX Tax Services Office HEADQUARTERS Audit Division Lindsay Frank Attention: XXXXXXXXXX (613) 948-222 Large File Case Manager 2009-031464 Tax Considerations in an International Insolvency This is in reply to an email from XXXXXXXXXX concerning tax matters related to the insolvency of XXXXXXXXXX On XXXXXXXXXX filed a petition for relief, pursuant to Chapter 11 of the United States Bankruptcy Code ("Chapter 11 Proceedings"). ...

Principal Issues: 85.1(1) and 7(1.5) apply to share for share exchanges; the Department allows 85.1(1) to apply to some transfers where non-share consideration was also received. ... Section 85.1 has similar rollover provisions for share for share exchanges, and also does not apply where there was consideration received other than shares. The Department has stated in Interpretation Bulletin IT-450R that subsection 85.1(1) can still be used where non-share consideration was received if the vendor can identify the proportion of each share or group of shares for which only shares were received as consideration. ...

26 October 1990 Administrative Letter 90M11356 F- Loan Guarantee from Non-resident for No Consideration Unedited CRA Tags 214(15)(a), 245(2) CTF- 1990 Conference Report QUESTION I 78 Loan Guarantee from Non-resident for no Consideration A Canadian corporation ("Canco") borrows funds from an arm's length lender (the "lender"). Canco's non-resident parent corporation (the "parent") guarantees the loan for no consideration. ... Since the parent did not receive consideration for its guarantee of the loan, the parent will not be deemed by paragraph 214(15)(a) of the Act to have been paid interest on the loan. ...

7 November 1990 Income Tax Severed Letter- Loan guarantee from non-resident for no consideration Unedited CRA Tags 214(15)(a) QUESTION I 78 Loan Guarantee from Non-resident for no Consideration A Canadian corporation ("Canco") borrows funds from an arm's length lender (the "lender"). Canco's non-resident parent corporation (the "parent") guarantees the loan for no consideration. ... Since the parent did not receive consideration for its guarantee of the loan, the parent will not be deemed by paragraph 214(15)(a) of the Act to have been paid interest on the loan. ...

The amount of the transferee's liability is equal to the lesser of the fair market value of the property transferred less the consideration paid, and the transferor's total tax liability owing in the year of the transfer or any preceding year. ... In order to succeed, the spouse must produce evidence that she gave consideration for the transfer of the residential property. ... On the other hand, were the wife to produce evidence of consideration paid, the value of that consideration would require a formal valuation of the increase in the value of the shares.Should you have any questions or require additional information, please do not hesitate to telephone Richard Aronoff at the number provided above. ...

In such cases, there would be dispositions of the property for proceeds equal to the fair market value of the consideration received. It is necessary to distinguish property settled on (or contributed to) the trust for nil proceeds from property sold to a trust in return for valuable consideration." ... In your opinion, (former) subparagraph 54(c)(v) of the Act can be applicable to a transfer to a trust whether or not there is consideration. ...

8 September 1988 Income Tax Severed Letter 5-6310- [Donations to Registered Charities in Consideration for an Annuity] J.D. ... In our view, the word "gift" has been interpreted as being a voluntary transfer of property without consideration and without conditions. ... A secondary consideration was the ease of administration of the position for both the charities involved and the Department. ...