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It accordingly transferred its physical equipment, records and goodwill to a new company in consideration for shares, and itself ceased to be a member of the investment dealers' association, but retained the securities and the bank debts, and traded those securities and other securities between 1938 and the end of the Second World War, with 124 purchaes and 200 sales occuring. ...

In finding that all such amounts were fully deductible, Iacobucci J. indicated that he declined to follow Imperial Oil, 3 DTC 1090 (whose requirement that expenses need be incidental, in the sense that they were unavoidable, was based on the more restrictive statutory ancestor of s. 18(1)(a)), that making the deductibility of fines depend upon considerations of public policy would "place a high burden on the taxpayer who is to engage in this analysis in filling out his or her income tax return and would appear to undermine the objective of self-assessment underlying our tax system" (p. 5811), and that, in any event, denying deductibility might undercut one of the underlying premises of our tax system which "is that the state taxes only net, rather than gross, income because it is net income that measures a taxpayer's ability to pay". ...

The Minister argued that the assumption of these obligations by the purchaser was part of the consideration paid. ...

Antosko, 94 DTC 6314, [1994] 2 S.C.R. 312, [1994] 2 CTC 25-- summary under Subsection 20(14) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(14) On March 1, 1975 the taxpayers acquired all of the common shares of the New Brunswick Industrial Finance Board in a company that manufactured charcoal briquettes for $1 and agreed to operate the company for the following two years in consideration for the agreement of the Board to postpone the obligation to pay principal and interest in excess of $5 million of indebtedness owing by the Company to the Board, and the Board's agreement that upon expiration of the two-year period it would sell such indebtedness and accrued interest to the taxpayers for $10. ...

., "the laying of a charge, an arrest, a summons to appear before a court of criminal jurisdiction, and…a criminal record" (para. 63), stated that although "if the amount at issue is out of proportion to the amount required to achieve regulatory purposes, this consideration suggests that it will constitute a true penal consequence" (para. 77), "the magnitude of penalties under s. 163.2(4) is directly tied to the objective of deterring non-compliance with the ITA" (para. 84) and found after referencing her "dishonesty" and "complete disregard of the law" that "the magnitude reflects the objective of deterring conduct of the type she engaged in" (para. 88). ...

Canada (Minister of Transport), [1992] 1 S.C.R. 3-- summary under Regulations/Statutory Delegation Summary Under Tax Topics- Statutory Interpretation- Regulations/Statutory Delegation approval given pursuant to a federal navigation statute should be interpreted as being subject to an order issued under a federal environmental statute Before confirming the quashing of an approval of the federal Minister of Transport given pursuant to the Navigable Waters Protection Act (Canada) for a dam to be built on the Oldman river in Alberta on the basis that no environmental assessment had been performed as required under the “Guidelines Order” issued under the Department of the Environment Act (Canada), La Forest J considered the argument of the appellants, Alberta and the federal Ministers, that the Guidelines Order was inconsistent with and therefore must yield to the requirements of the Navigable Waters Protection Act, namely, that the Minister of Transport was confined by that Act to a consideration of matters pertaining to marine navigation alone, and that the Guidelines Order could not displace or add to the criteria mentioned in that Act. ...

With respect to one of the later taxation years in question, in which one of the taxpayers disposed of its shares of Justinian to a wholly-owned subsidiary on a rollover basis in consideration for both non-interest bearing notes and interest-earning assets (principally preferred shares), Iacobucci J. found that because the value of the income-earning assets received on this transaction exceeded the amount of the borrowed money, those income-producing replacement properties could be linked to the entire amount of the loan with the result that the purpose test continued to be satisfied. ...

I view these considerations of both the exemptions in Schedule C of the Excise Tax Act and the items in the Customs Act as being confirmatory of my view…. ...

In this regard, it stated (at paras. 167, 181-183 and 198): Canada has adduced evidence that clearly shows that establishing minimum national standards of GHG [greenhouse gas] price stringency to reduce GHG emissions is of sufficient concern to Canada as a whole that it warrants consideration in accordance with the national concern doctrine. … [P]rovincial inability is established in this case. … First, the provinces, acting alone or together, are constitutionally incapable of establishing minimum national standards of GHG price stringency to reduce GHG emissions. … Second, a failure to include one province in the scheme would jeopardize its success in the rest of Canada. … Moreover, the matter’s impact on the provinces’ freedom to legislate and on areas of provincial life that would fall under provincial heads of power is qualified and limited. ...

Similar considerations indicated that s. 227(4.1) did not create a trust that accorded with common law concepts, and the Crown was not significantly assisted by the reference in s. 227(4.1) to the amount covered by the deemed trust being “property beneficially owned by Her Majesty.” ...