Search - consideration

26 March 2019- 12:21am Newmont is proposing to acquire Goldcorp directly on a non-rollover basis for both ITA and IRC purposes Email this Content Newmont is proposing to acquire all the shares of Goldcorp pursuant to an Ontario Plan of Arrangement for consideration consisting of 0.3280 of a Newmont Share and US$0.02 in cash for each Goldcorp Share. ...

26 March 2019- 10:24pm CAPREIT is accomplishing a reverse takeover of European Commercial REIT through an asset sale Email this Content European Commercial REIT (the “REIT”) is substantially expanding its size by purchasing a Netherlands subsidiary (“BV”) of CAPREIT (holding a portfolio of Netherlands rental residential properties) in consideration for having a subsidiary LP of the REIT issue exchangeable units to CAPREIT. ...

13 April 2022- 10:36pm CRA indicates that annual balance sheet translation adjustments to FX-denominated balances are not included in qualifying revenue for CEWS purposes Email this Content CRA indicated that the annual adjustments made on the balance sheet of an eligible entity in translating FX-denominated balances to the current FX spot rate are not included in “qualifying revenues” for CEWS purposes, whose definition “requires … an inflow of cash, receivables or other consideration.” ...

6 November 2022- 9:53pm CRA rules on pipeline accomplished through the Newco purchaser issuing 8 instalment notes to the estate as a PUC reduction Email this Content CRA provided s. 84(2) and 84.1 rulings on a pipeline transaction in which the estate sells the investments company, which it acquired on the death of the deceased, to a Newco formed by it in consideration for high-PUC shares. ...

3 April 2023- 11:37pm CRA announces that credit card surcharges are exempt from GST/HST Email this Content CRA has published its position that a credit card surcharge (generally, a charge made by the merchant to customers in consideration for agreeing to let them use their credit card rather than another means of payment) will generally be exempted from GST/HST under para. ...

7 June 2024- 12:49am CRA indicates that an individual exercising power of attorney for a controlling incapacitated shareholder does not have de jure control of the corporation Email this Content CRA confirmed 2012-0454111C6 in finding that a power of attorney under which a designated attorney exercises the voting rights of a controlling shareholder of a corporation as a consequence of the incapacity of that shareholder would not constitute (in contrast to a unanimous shareholders agreement) an external document that has to be taken into consideration in determining the de jure control of the corporation- so that the grant or exercise of such a power of attorney would not give rise to a loss restriction event. ...

Given that both Brown J and Wagner J considered the common law and civil law approaches to rectification as being largely aligned, it would appear that rectification, to substitute share for note consideration, likely would be available on facts similar to Juliar if the common intention at the time were to take back the maximum amount of note consideration, and shares for the balance, and the transaction was not implemented this way only due to a calculation or implementation error. ...

The principal announced features are: The 15% tax applies effective April 21, 2017 to the value of consideration for the transfer (including a beneficial transfer only) of a residential property in the “Greater Golden Horseshoe” where any of the transferees (e.g., a co-owner) is a foreign entity or taxable trustee. ... Although the Teranet system is not yet set up to collect the new tax, in the meantime all transfers registered after April 20 (and all reporting of beneficial conveyances) must contain a statement acknowledging that consideration has been given to the application of the new tax, and the tax must be paid directly to the Ministry of Finance (purportedly even before the legislation is drafted or passed). ...

This was accomplished by transferring their co-ownership interests on a s. 85(1) rollover basis to respective Newcos (“HP Newco”, in the case of Harvard Properties) in consideration inter alia for voting and non-voting shares, followed by a sale of those voting shares to an Abacus subsidiary (NH Properties) for promissory notes for under half of the sale price. ... Furthermore, he considered that the reasonable way in the circumstances to deny the tax benefit was to treat s. 160 as applying to the extent of the shortfall in consideration given on the transfer. ...

The taxpayers acquired such FMO units from TOM in consideration for issuing $161M in promissory notes. ... The units of FMO were repurchased by FMO for nominal consideration. The appellants had full (FMV) cost for their FMO units when acquired in steps 2 and 4, and the capital gains distribution in step 6 did not reduce the ACB of their units by virtue of s. 53(2)(h)(i.1)(A) and (B)(I). ...