Search - consideration

With that consideration in mind it would be incongruous to treat the cost of removing the ore from the rooms as a current expense and that of removing ore from the passage-ways as a capital expense. ...

(c)     a person with whom the person was not dealing at arm’s length,   the following rules apply:   (d)     the transferee and transferor are jointly and severally liable to pay a part of the transferor’s tax under this Part for each taxation year equal to the amount by which the tax for the year is greater than it would have been if it were not for the operation of sections 74.1 to 75.1 of this Act and section 74   of the Income Tax Act  , chapter 148 of the Revised Statutes of Canada, 1952, in respect of any income from, or gain from the disposition of, the property so transferred or property substituted therefor, and   (e)     the transferee and transferor are jointly and severally liable to pay under this Act an amount equal to the lesser of   (i)     the amount, if any, by which the fair market value of the property at the time it was transferred exceeds the fair market value at that time of the consideration given for the property, and   (ii)     the total of all amounts each of which is an amount that the transferor is liable to pay under this Act in or in respect of the taxation year in which the property was transferred or any preceding taxation year,   but nothing in this subsection shall be deemed to limit the liability of the transferor under any other provision of this Act ...

It is sufficient to say in disposing of this consideration that I am in complete agreement with the Court of Appeal who, in referring to this aspect of the judgment below, stated through Urie J.A.: …it cannot be said that the Trial Judge wrongly construed the evidence, or some of it, or failed to take into account a crucial portion of it, or that there was no evidence upon which he could have based his conclusions. ...

The substance of the transaction is that Lodestar purchased a half interest in a lease in consideration of its undertaking to drill a certain well; that the estimated cost of drilling this well was more than the company wanted to risk and that it therefore sold one-half of its own one-half interest for $27,500, leaving itself still subject to the obligation to pay the full cost of drilling. ...

On consideration, it seems to me that the conclusion reached by the learned judges in the Court of Appeal is well founded, and that when the respondent elected to take out a judgment in the form in which he did, he ceased to have any personal right against the appellant. ...

Now therefore this Agreement witnesseth: That in consideration of the outlays and expenses incurred and to be incurred by the Association in providing means for handling, manufacturing and marketing the milk and dairy products of the Producer as mentioned herein, the said parties have agreed to, and do hereby agree as follows:— 1. ...

It is unnecessary to consider all the implications of that decision, but, so far as the point under consideration is concerned, I agree so unreservedly with the [Page 706] reasoning of Luxmoore J. where he is dealing with comparable provisions of the Imperial Finance Act, 1894, that I transcribe the relevant paragraph which appears at pp. 807-8 of the report:— It is argued that the power in the present case is a limited power and does not authorize the donee to appoint or dispose of the property subject to it as he thinks fit. ...

There is another consideration that is equally telling. Legislative changes may reasonably be viewed as purposive, unless there is internal or admissible external evidence to show that only [Page 478] language polishing was intended. ...

Justice Gibson, I am unable to reach any other conclusion from a consideration of the combined effect of the two statutory provisions. ...

In my view, the decisive consideration in favour of the Minister’s decision is that the MacLean orebody was not developed as a separate mine. ...