Search - consideration

Perram and Jackman JJ found that, since as a matter of contractual interpretation, all of the amounts paid by the Bottler to the Seller were consideration for the sold concentrate, none of such payments could be treated as a trademark royalty that was subject to Australian withholding tax. ... Accordingly, the Commissioner’s assessment of Australian withholding tax on a portion of the consideration was reversed. ...

However, in late August 1952, it was approached by a potential purchaser of Poitras; and in September 1952 entered into an agreement pursuant to which the supply contract was cancelled, advances to Poitras on account of future purchases were repaid, and it exercised the option- with the Poitras shares acquired on exercise then being immediately sold at a gain for largely cash consideration pursuant to that agreement. ... It exercised the option and sold the shares for cash and the other stated consideration, and this gave both the purchase and sale of the shares a trading character rather than acquisition and realization of a capital asset. ...

The King, 2025 TCC 128-- summary under Subsection 89(1) Summary Under Tax Topics- Income Tax Act- Section 89- Subsection 89(1) PUC averaging to permit the extraction of PUC in excess of the individuals’ investment in the corporation was abusive The taxpayers (a couple) transferred their shares of Opco to a new holding company in consideration for preferred shares of Holdco at s. 85(1) agreed amounts that used up lifetime capital gains exemption balances. ... However, they also caused Opco to transfer significant assets to Holdco on an s. 85(1) basis in consideration for Holdco preferred shares of the same class, so that with PUC-averaging, the PUC of the taxpayers’ shares increased. ...

As soon as LBL delivered the products to the store vicinity, and it received the cash consideration, the products were loaded onto the waiting trucks of customers, in turn, of Ms. ... MacNaughton was the recipient of the tobacco products, i.e., the one liable to pay the consideration therefor, and suggested that the s. 87 exemption instead required that the products have become the personal property of Ms. ...

Step 3: The CLCs then assigned the leases and their title in the cars to an offshore bank Soc Gen Jersey ("SGJ"), in consideration for £20m (financed by SG London, which received a further assignment of the assets as security). ... Respecting the first condition, Lord Sumption noted (at para. 14) that the VAT "broad principle is that tax on the ultimate value of the product is levied only once, albeit that it may be collected at different stages of the process of manufacture and distribution," and (at para. 20) that normally "the reseller seeking to avail himself of the margin scheme will have acquired the goods from someone with no right to recover input tax in respect of their own acquisition of them" so that "the object and effect is to avoid double taxation," whereas "the effect of the KPMG scheme was to enable the Pendragon Group to sell demonstrator cars second-hand under the margin scheme in circumstances where VAT had not only been previously charged but fully recovered…[so that a] system designed to prevent double taxation on the consideration for goods has been exploited so as to prevent any taxation on the consideration at all" (para. 30). ...

Before consideration of the "adventure" concept, the land was not inventory of a business. ... Furthermore, "a bona fide gift of land is not a transaction that can be described as being ‘in the nature of trade' if it is otherwise unconnected with a business" (para. 95), the deemed proceeds under s. 69(1)(c) could not be treated as consideration for this purpose (para. 103) and "the nature of the gift as a transfer of property for no consideration is not changed simply because there are favourable income tax consequences" (para. 101). ...

Hélie Holdco purchased 10.5% of the common shares of Amiante from Poulin for nominal consideration and purchased 388,861 Class D preferred shares from Turgeon for a purchase price of $388,861 in consideration for a note in that amount bearing interest at 4% and which was to be repaid out of 90% of the amounts received by Hélie Holdco from Amiante. ... In January 2014, Hélie Holdco transferred the balance of its Class D preferred shares to what now was the parent corporation of Amiante, without there being any evidence of consideration having been received for this transfer, and with the balance of the note remaining unpaid. ...

FSL assigned $160,000 of the $2.4 million amount, that it was entitled to receive under the settlement agreement from the Province, to ADL in consideration for an ADL promissory note. On the same date as the exercise of the option by ADL (resulting in the Province transferring the fee simple interest in Founders Square to ADL), FSL purported to surrender the existing ground lease to the Province pursuant to a surrender agreement which stated that the consideration provided by FSL thereunder to the Province was “$10.00 and other good and valuable consideration.” ...

The ARQ assessed Des Groseillers on the basis that the donation of the options constituted a disposition of such options described in the Taxation Act. s. 50 (equivalent to ITA s. 7(1)(b)) and that TA s. 422 (equivalent to ITA s. 69(1)(b)) deemed the “value of the consideration for the disposition” received by him to be equal to the options’ fair market value of $3M, thereby resulting in the receipt of employment income in that amount by him pursuant to s. 50. ... He further found, in the alternative, that even if the s. 7(1)(b) equivalent applied, it only applied on the basis of the nil consideration actually received by Des Groseillers rather than being expanded by the s. 69(1)(b)(ii) equivalent to deem the consideration to be $3M. ...

In consideration, the Funds agreed to pay Funding Corp a portion of the management fees that otherwise would have been payable by them to the Fund manager (the “Manager”) and which the Manager had agreed to relinquish (the “Earned Fees”), which were expressed to be fees paid by the Funds for the services rendered to them in the U.S. by Funding Corp in arranging for the daily funding of the brokerage commissions. ... CRA assessed on the basis that the Earned Fees were consideration for an imported taxable supply because they were not consideration for a financial service. ...