Search - consideration

In my opinion, availability of an automobile is not the sole or determining consideration in this section or in the comparable subsection 15(5). The purpose for which the employer provides the automobile is a relevant consideration also. ... Thus, I doubt that paragraph 6(1)(e), properly construed, applies to the automobile here under consideration and I believe that paragraph 6(1)(a) more aptly applies in the circumstances of this case. ...

  (6) La Cour peut, dans toute instance, donner des directives à l’officier taxateur, notamment en vue:     a) d’accorder des sommes supplémentaires à celles prévues pour les postes mentionnés au tarif B de l’annexe II;   b) de tenir compte des services rendus ou des débours effectués qui ne sont pas inclus dans le tarif B de l’annexe II;   c) de permettre à l’officier taxateur de prendre en considération, pour la taxation des dépens, des facteurs autres que ceux précisés à l’article 154 ... Sexton J.A., writing for a unanimous Court, stated (at paragraph 37) that “the Minister of National Revenue is limited to making decisions based solely on considerations arising from the Act itself” and cannot make “deals” divorced from those considerations. ...

In seeking to appeal from the reassessments in the face of the waiver agreements which were witnessed by their advising counsel, the taxpayers contended that the waiver of rights of appeal, otherwise open to them under the Income Tax Act, was not binding upon them because (1) the waivers were based upon an illegal consideration, namely, the “For concurring reasons by Pigeon, J (concurred in by Beetz, J) see p 496. stifling of a prosecution for fraudulent tax evasion; (2) they were procured by undue influence or coercion under an implicit threat of such prosecution; and (3) they were contrary to public policy and contrary to statutory policy reflected in income tax legislation respecting a taxpayer’s right to challenge unjust tax assessments or reassessments through the courts. ... Thurlow, JA (as he then was) for the majority noted that the issue of illegality of consideration had been abandoned at trial, and he said also that the trial judge’s finding against undue influence, duress or coercion was not challenged on appeal, leaving for argument only the question whether the waiver agreements were contrary to public policy and to the provisions of the Income Tax Act. ... There are no such considerations in the present case. Although I do not think that undue influence exists in this case as a separate basis for impeaching the waiver agreements, it is my view that, assuming that they would be voidable on that ground, Smer- chanski’s conduct would disentitle him to any relief. ...

The increase in the purchase price shall also be in consideration for Carter Oil & Gas Ltd.'s withdrawal of its Demand of Payment, and for it not to pursue the legal remedies available to it to enforce payment of such note. ... Carter Consultants Ltd. shall continue to manage and operate the properties on your behalf pursuant to existing Agreements between the parties hereto for a new contract consideration of $3,500.00 per month. ... The position of the respondent is that the additional $1,250,000 that was paid was an outlay by the appellant which is properly characterized as consideration for the financing of the purchase and cannot be characterized as the cost of acquisition of property. ...

On April 8, 1987, the applicant and her husband, as joint tenants, transferred the property to the applicant alone without any consideration being given. ... Medland is indebted to the Minister in excess of $49,000 as of June 10, 1994, in respect (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 aggregate 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. of his 1990, 1991, 1992 and 1993 taxation years, of which $24,288.83 was in respect of federal taxes. ... The applicant’s submission In essence, the applicant submits that, given that she provided no consideration to Mr. ...

With respect to density, considerations as to design and specific use came into play to award the developer bonus points permitting him to increase floor space in the proposed building. ... Based on the formula respecting parking spaces and the Plus 15 ped-way system, and in consideration of the release of a development permit, the plaintiff paid the municipality the sum of $712,000 with respect to parking spaces and $114,000 with respect to the Plus 15 formula. ... Thurgood, [1934] 1 K.B. 548, it was held that the character of the expenditure or the nature of the asset is an irrelevant consideration. ...

Farmer (1910), 5 T.C. 529, Lord Dunedin made the following oft-quoted statement, at page 536: Now I don't say that this consideration is absolutely final or determinative, but in a rough way I think it is not a bad criterion of what is capital expenditure as against what is income expenditure to say that capital expenditure is a thing that is going to be spent once and for all, and income expenditure is a thing that is going to recur every year. ... A third consideration which has frequently influenced the courts is the magnitude of the expenditure in question in relation to the value of the asset as a whole. ... A further consideration, which is related to the "once and for all versus continuous or recurring” criteria is the useful lifetime of the expenditure. ...

The law The relevant provisions of the Act are as follows: 127.3(2)(a) "scientific research tax credit" of a taxpayer for a taxation year means the aggregate of all amounts each of which is an amount equal to (i) where the taxpayer is a corporation, 50 per cent, or (ii) where the taxpayer is an individual other than a trust, 34 per cent of an amount designated by a corporation under subsection 194(4) in respect of (iii) a share acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder thereof, (iv) a bond, debenture, bill, note, mortgage, hypothec or similar obligation (in this section and in Part VIII referred to as a“ debt obligation”) acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to be a registered holder thereof, or (v) a right acquired by the taxpayer in the year where the taxpayer is the first person, other than a broker or dealer in securities, to have acquired that right, less any amount required by subsection (5) to be deducted in computing the taxpayer's scientific research tax credit for the year; and 127.3(6) For the purposes of this Act, where at any time in a taxation year a taxpayer has acquired a share, debt obligation or right and is the first registered holder of the share or debt obligation or the first person to have acquired the right, as the case may be, other than a broker or dealer in securities, and an amount is, at any time, designated by a corporation under subsection 194(4), in respect of the share, debt obligation or right, the following rules apply: (a) he shall be deemed to have acquired the share, debt obligation or right at a cost to him equal to the amount by which (i) its cost to him as otherwise determined exceeds (ii) 50 per cent of the amount so designated in respect thereof; and (b) where the amount determined under subparagraph (a)(ii) exceeds the amount determined under subparagraph (a)(i), the excess shall (i) where the share, debt obligation or right, as the case may be, is a capital property to him, be deemed to be a capital gain of the taxpayer for the year from the disposition of that property; and (ii) in any other case, be included in computing the income of the taxpayer for the year, and the cost to him of the share, debt obligation or right, as the case may be, shall be deemed to be nil. 194(4) Every taxable Canadian corporation may, by filing a prescribed form with the Minister at any time on or before the last day of the month immediately following a month in which it issued a share or debt obligation or granted a right under a scientific research financing contract (other than a share or debt obligation issued or a right granted before October 1983, or a share in respect of which the corporation has, on or before that day, designated an amount under subsection 192(4) designate, for the purposes of this Part and Part I, an amount in respect of that share, debt obligation or right not exceeding the amount by which (a) the amount of the consideration for which it was issued or granted, as the case may be, exceeds (b) in the case of a share, the amount cf any assistance (other than an amount included in computing the scientific research tax credit of a taxpayer in respect of that share) provided, or to be provided by a government, municipality or any other public authority in respect of, or for the acquisition of, that share. 248.(1) In this Act, "business" includes a profession, calling, trade, manufacture or undertaking of any kind whatever and, except for the purposes of paragraph 18(2)(c), an adventure or concern in the nature of trade but does not include an office or employment. 3. ... The success of the transactions under consideration required that the purchasers of the securities in question, who were traders in shares and securities, be able to realize a business loss from trading the securities and a recovery of tax from Revenue. ... The considerations prompting the transaction may be of such a business nature as to invest it with the character of an adventure in the nature of trade even if there is no intention of making a profit on the sale of the purchased commodity. (7) The fact that the transaction is totally different in nature from any of the other activities of the taxpayer and that he has never entered upon a transaction of that kind before or since does not, of itself, take it out of the category of being an adventure in the nature of trade. (8) It is not essential to a transaction being an adventure in the nature of trade that an organization be set up to carry it into effect or that some operation be performed on the subject matter of the transaction to make it saleable. ...

If he did, then Ms Rose was jointly and severally liable with her husband for his tax debt up to the fair market value of the property transferred, because she had given no consideration for the transfer ... In February 28, 2005, Ms Rose was assessed in the amount of $15,000 under subsection 160(1); since she had given no consideration for the transfer, her liability was for the full fair market value of Mr Rose’s interest in the house. ... LEGISLATIVE FRAMEWORK 160.(1) Where a person has, on or after May 1, 1951, transferred property, either directly or indirectly, by means of a trust or by any other means whatever, to (a) the person’s spouse or common-law partner or a person who has since become the person’s spouse or common- law partner, (b) a person who was under 18 years of age, or (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. 160.(1) Lorsqu’une personne a, depuis le 1 er mai 1951, transféré des biens, directement ou indirectement, au moyen d’une fiducie ou de toute autre façon à l’une des personnes suivantes: a) son époux ou conjoint de fait ou une personne devenue depuis son époux ou conjoint de fait; b) une personne qui était âgée de moins de 18 ans; c) une personne avec laquelle elle avait un lien de dépendance, les règles suivantes s’appliquent: d) le bénéficiaire et l’auteur du transfert sont solidairement responsables du paiement d’une partie de l’impôt de l’auteur du transfert en vertu de la présente partie pour chaque année d’imposition égale à l’excédent de l’impôt pour l’année sur ce que cet impôt aurait été sans l’application des articles 74.1 à 75.1 de la présente loi et de l’article 74 de la Loi de l’impôt sur le revenu, chapitre 148 des Statuts revisés du Canada de 1952, à l’égard de tout revenu tiré des biens ainsi transférés ou des biens y substitués ou à l’égard de tout gain tiré de la disposition de tels biens; e) le bénéficiaire et l’auteur du transfert sont solidairement responsables du paiement en vertu de la présente loi d’un montant égal au moins élevé des montants suivants: (i) l’excédent éventuel de la juste valeur marchande des biens au moment du transfert sur la juste valeur marchande à ce moment de la contrepartie donnée pour le bien, (ii) le total des montants dont chacun représente un montant que l’auteur du transfert doit payer en vertu de la présente loi au cours de l’année d’imposition dans laquelle les biens ont été transférés ou d’une année d’imposition antérieure ou pour une de ces années; aucune disposition du présent paragraphe n’est toutefois réputée limiter la responsabilité de l’auteur du transfert en vertu de quelque autre disposition de la présente loi.   ...

The letter described a “Severance Payment … representing 2 years’ compensation, in consideration of the termination of his employment contract … and in consideration of his resignation from the public and private boards.” ... As consideration, Enerplus was to pay GLMC $52,433.48 monthly until March 31, 2003 and then, $33,333.33 monthly thereafter until the end of the term. ...