Search - consideration

Consequently, while CPP contributions that are required to be paid during the leave period are to be deducted and remitted by the trustee as by any other employer, CPP contributions paid in the year prior to the leave period must be taken into consideration by the trustee. ... However, since CPP contributions made during the year prior to the leave period are to be taken into consideration by the trustee, the amount of contributory earnings reported by the trustee may not coincide with the earnings reported in box "C" for that particular year. ...

A gift is defined as "A voluntary transfer of property without valuable consideration." ... INCOME TAX CONVENTION (1980) In consideration of the fact that the transaction concerns a payment arising in the United States (U.S.) and made to a resident of Canada, reference will have to be made to the provisions of the Canada-U.S. ...

ACO will grant the Easement to BCO pursuant to a conservation easement agreement and will retain the right to reacquire the Easement for nominal consideration. ... Immediately after the sale of the Land is closed, BCO will transfer the Easement to ACO for nominal consideration. ...

by an employee earning commission income or earning salary income; Employer/ Self-employed individual A substantial lease payment made at the beginning of the lease, resulting in lower monthly payments, represents consideration for services to be rendered after the end of the year such that subparagraph 18(9)(a)(i) of the Act would apply to limit the deductibility of the outlay or expense. ... Employer/ Self-employed individual A substantial lease payment made at the beginning of the lease resulting in lower monthly payments represents consideration for services to be rendered after the end of the year such that subparagraph 18(9)(a)(i) of the Act would apply to limit the deductibility of the outlay or expense. ...

On XXXXXXXXXX subscribed for XXXXXXXXXX preferred shares (the "Preferred Shares") of the Corporation, providing consideration in the form of investments. ... On XXXXXXXXXX sold the Preferred Shares to the Trust for consideration consisting of a loan (the "Loan") in the amount of $XXXXXXXXXX evidenced by a non-interest-bearing promissory note. 7. ...

A plan in the nature of insurance, in this respect, must contain the following basic elements: (a) an undertaking by one person, (b) to indemnify another person, (c) for an agreed consideration, (d) from a loss or liability in respect of an event, (e) the happening of which is uncertain. ... In our view, a plan that consists of a contract between a sole proprietor with no full-time employees, and a trustee as an administrator, under which the administrator agrees to reimburse the proprietor, his spouse and members of his household for actual medical and hospital expenses, and receives as consideration an amount equal to the amount reimbursed plus an administrative fee, does not qualify as a PHSP, since it does not contain the necessary elements of insurance. ...

Generally, a plan will be considered a superannuation or pension fund where contributions have been made to the plan by or on behalf of an employer or former employer of an employee in consideration for services rendered by the employee and the contributions are used to provide an annuity or other periodical payment on or after the employee's retirement in consideration for his or her employment services. ...

Therefore, where the plan represents (i) an undertaking by one person, (ii) to indemnify another person, (iii) for an agreed consideration, (iv) from a loss or liability in respect of an event, (v) the happening of which is uncertain, it will be considered to be in the nature of insurance. ... Therefore, with respect to your first statement, while section 20.01 sets out the maximum deduction permitted to an individual carrying on business through a proprietorship or partnership in respect of a premium, contribution or other consideration paid under a PHSP, the definition and requirements of a PHSP are actually found in the subsection 248(1) definition. ...

"Payment" means the single, lump-sum amount that the Company will pay to each Retiree as consideration for the termination of the Retiree's rights to continue to receive Health Care Benefits under the Plan. ... Pursuant to the Agreement, in consideration for the Retiree granting a full, final and complete waiver, release and discharge to the Company of any and all claims, indemnities, damages, and rights of action that the Retiree has or may pretend to have under the Plan, the Company agrees to make the Payment to the Retiree equal to the present value of the estimated Health Care Benefits foregone as a consequence of the termination of the Plan. ...

XXXXXXXXXX has issued XXXXXXXXXX common shares to XXXXXXXXXX for total consideration of $XXXXXXXXXX. ... Provided that a shareholder of XXXXXXXXXX: (i) holds his or her membership shares of XXXXXXXXXX (the "Designated Shares") as capital property; (ii) deals at arm's length with XXXXXXXXXX immediately before the XXXXXXXXXX described in XXXXXXXXXX; (iii) does not include any portion of the gain or loss otherwise determined, from the disposition of the Designated Shares in computing his or her income for the taxation year in which the exchange takes place; (iv) does not file an election under subsection 85(1) or 85(2) with respect to the Designated Shares; and (v) does not receive any consideration other than the shares of XXXXXXXXXX in exchange for the Designated Shares; and further provided that, immediately after the exchange, (vi) no such holder or any person or persons with whom he or she does not deal at arm's length, and no such holder together with any person or persons with whom he or she does not deal at arm's length, will (a) control XXXXXXXXXX directly or indirectly in any manner whatever, or (b) will beneficially own shares of XXXXXXXXXX having a fair market value of more than 50% of the fair market value of all of the issued and outstanding shares of the capital stock of XXXXXXXXXX then, pursuant to paragraph 85.1(1)(a), such shareholder will be deemed (A) to have disposed of the Designated Shares for proceeds of disposition equal to the adjusted cost base to him or her thereof immediately before the Exchange, and (B) to have acquired the shares of XXXXXXXXXX at a cost equal to him or her equal to the adjusted cost base to him or her of the Designated Shares held by him or her immediately before the Exchange. ...