Search - consideration

[and] is wide enough to embrace all types of voluntary processes or acts by which a property of one person may become vested in another without regard for the reason or occasion for such processes or acts and regardless also of whether the processes undertaken or the act is done for consideration in whole or in part or for no consideration at all. ...

In finding that the taxpayer had realized proceeds of disposition of $105,000 rather than $90,000 notwithstanding that the promissory note likely had no value, Rip, TCCJ. noted that there was no evidence that the property had a fair market value of less than $105,000, that "part of the consideration and satisfaction of the sale price was that the appellant accepted a promissory note, regardless of the fact that it had no market value" (p. 1160), and that s. 54(h)(i) expressly referred to the sale price of property that had been sold (which, in this case, was $105,000) and made no mention of the consideration paid to satisfy the sale price. ...

"A review of the considerations that led to the decision shows that the Director failed to consider the likelihood that when the lawsuit was resolved PGL would be dissolved and would not commence carrying on business. This would involve consideration of things such as the nature of the claims advanced in the lawsuit, the role of PGL in the lawsuit and what would be the reasonable expectation of PGL's future if the lawsuit succeeded. ...

The Queen, 2000 DTC 2493 (TCC), aff'd 2002 DTC 7517, 2002 FCA 408-- summary under Other Summary Under Tax Topics- General Concepts- Fair Market Value- Other Part of the consideration for assets purchased by the taxpayer was the issue by it of special shares with an aggregate stated capital of $1,000. ... In finding that the portion of the assets acquired through the issue of the special shares should be considered to have a cost to the taxpayer of $1,000, Rip T.C.J. stated (at pp. 2510-2511) that "it is the directors who determine the stated capital of shares and the consideration for the issue of the shares", and further noted that the date of payment of the dividend might have been delayed indefinitely until the directors determined to pay it. ...

Canada, 2001 DTC 5385, 2001 FCA 152-- summary under Ownership Summary Under Tax Topics- General Concepts- Ownership self-cancelling double title transfers By an unregistered deed the taxpayer purported to transfer a farm that previously had been acquired by him from his parents back to his parents for a nominal consideration; and 35 days later received the farm back from his parents for a nominal consideration pursuant to a further unregistered deed. ...

Profit- Patents and Know-How The taxpayer, which had been granted the exclusive world-wide licence to exploit the master patent for "Terylene" and was the owner of ancillary patents, granted to a Dutch company an exclusive licence of the right to exploit these rights and related know-how in the Netherlands and Belgian market in consideration for an annual royalty and, in addition, received a lump sum payment of £400,000 for its covenant not to enter those markets for the period of the patent. Since the £400,000 payment in essence was consideration for the granting of an exclusive licence of patent rights, i.e., for the disposition of a capital property, it was a capital receipt. ...

Canada, 2019 FCA 62-- summary under Subsection 85(2) Summary Under Tax Topics- Income Tax Act- Section 85- Subsection 85(2) beneficial drop-down of assets to corporation occurred 4 months before the share consideration was issued Webb JA affirmed a finding of D’Arcy J that the beneficial ownership of some applications to the Saskatchewan government for potash exploitation rights that had been acquired by a limited partnership had been immediately on-transferred by it to a wholly-owned corporation for share consideration (presumably on an s. 85(2) rollover basis), so that their fleeting beneficial ownership by the LP did not qualify them as being used in a Canadian active business, as required under the s. 110.6(14)(f)(ii) test. ...

The MGICs transferred all their shares of ProCap to ProRé for consideration (in the case of the voting shares transferred by the MGICs) in the form of certificates of additional participation in the capital of ProRé. Before going on to find that s. 256(7)(d) deemed there to have been no acquisition of control of ProCap, Favreau J paraphrased s. 256(8.1) and stated (at para. 44, TaxInterpretations translation): By virtue of subsection 256(8.1) of the ITA, ProRé is therefore deemed to have issued shares of its capital stock to the MGICs in consideration for the transfer of their Class A shares that they held in ProCap. ...

Royal Bank of Canada v Commissioners for His Majesty's Revenue and Customs, [2025] UKSC 2-- summary under Paragraph (c) Summary Under Tax Topics- Excise Tax Act- Section 217- Imported Taxable Supply- Paragraph (c) situs of a contractual obligation is the country where it can be enforced Before affirming the judgment of Falk LJ of the Court of Appeal, Lady Rose noted (at para. 48) in passing that: It is convenient to mention at this point that at para 54 of the leading judgment in the Court of Appeal, Falk LJ raised a problem about locating the situs of the right to receive the consideration referred to in Article 6(2). It is straightforward to treat the location of the actual land or the rights in the land as being in the State of source but it is more difficult to locate the situs of rights to payments in consideration of the right to work. ...

“Proceeds” for purposes of computing its mining profits under the Mining Tax Act (Ontario) referenced: (a) consideration received from the output of a mine; (b) consideration from hedging; and (c) consideration from future sales or forward sales of the output of the mine That Act in relevant part defined “hedging” as including “the fixing of a price for output of a mine before delivery by means of a forward sale or a futures contract on a recognized commodity exchange.” ...