Search - consideration

      [10]                   A useful starting point is a consideration of the qualifications imposed by the Act.  ... It involves legal considerations with respect to the interpretation of subsections 227.1(1) and (3) of the Income Tax Act (Act) and the application of the defense of due care and diligence.       ...   [38]       Again, this is, in my view, an improper consideration to take into account in assessing the degree of care and diligence exercised by the directors.  ...

In concluding that the circumstances of the case did not support an inference that the possibility of resale was a motivating consideration in the decision of both the taxpayer and his partners to proceed with the construction of the building, the Chief Justice opined that there was nothing in the evidence, prior to the decision to proceed with the project, which suggested that the partners had ever given “any consideration … to anything other than ownership” (para. 9 of the Reasons) ... First, the fact that the taxpayer had in mind, as a consideration in making the purchase, the prospect of inflation in land values was not “evidence of a purchase for re-sale amounting to the launching of an adventure or concern in the nature of trade”. ... First, the boundary between income and capital gains cannot easily be drawn and, as a consequence, consideration of various factors, including the taxpayer’s intent at the time of acquiring the property at issue, becomes necessary for a proper determination. ...

Unless otherwise indicated, all statutory references in these reasons are to the corresponding provisions of the ITA for the taxation year under consideration. ... Tolhoek for consideration that included the assumption by Mr. Tolhoek of a portion of an indebtedness of the Limited Partnership (the “Assumed Indebtedness”). ... Accordingly, a detailed consideration of the facts is warranted.   [9]                Mr. ...

[58]            These three issues must be broken out and considered separately because different considerations apply to each. ... Indeed, sometimes the countervailing considerations are so weighty that the power to reassign cannot be exercised. [90]            The precise circumstances matter. ... The jurisprudence in this area is best worked out in response to particular situations. [100]        Depending on the circumstances, a Chief Justice might consider disclosing to the parties the problem affecting the judge, review with the parties the considerations for and against reassignment, canvass whether there are any further considerations that bear upon the issue, and then invite submissions on whether reassignment should take place. ...

He chose a structure that involved family trusts and a limited partnership, not a structure involving a general partnership. [90]         Immediately after the Limited Partnership was formed, it sold, pursuant to the terms of the Subscription Agreement, the Purchased Assets to Devonian for a consideration of $675,000. I have previously discussed the relevant clauses of the Subscription agreement, particularly Sections 2.1, 2.2, 2.3 and 6.2. [91]         Pursuant to Sections 2.1 and 6.1 of the Subscription Agreement, Devonian in effect agrees to pay for the Purchased Assets a consideration of $675,000 in the form of the 999 Devonian Shares. ... My finding is consistent with the Limited Partnership’s 2008 income tax information return, which states at page 15 that the Limited Partnership acquired the Potash exploration permits, which would include the Purchased Applications, on December 7, 2007. [101]    I was provided with very little evidence with respect to this sale. [102]    The Appellant’s counsel argued, at paragraph 30 of his Trial Brief, that on December 7, 2007 the Limited Partnership gave consideration to Kinderock for the Purchased Applications by agreeing to reimburse Kinderock for all costs incurred in connection with the permit applications. ...

Hardly the vague approach the Appellant suggests. [34]   Section 207.06, on the other hand, speaks only of waiving or cancelling the tax created by 207.05, provides the Minister with broad discretion to waive or cancel all or any portion thereof but requires the Minister, in its consideration of all circumstances, to address three specific circumstances; including whether the tax arose as a consequence of a reasonable error, the extent to which the transaction or series of transactions that gave rise to the tax also gave rise to another tax under the Act and the extent to which payments have been made from the plan. In this regard, I disagree with the Appellant who suggests the considerations of those three criteria are directive only. The provision states that the Minister include their consideration, not “may include”, and so they are mandatory considerations. [35]   There is nothing in these provisions that speak to anything other than waiver or cancellation of preordained taxes under 207.04 or 207.05. [36]   Consequently, it is clear to me that there is no justification for the Appellant’s position that the two sections must necessarily be conflated, be read together, to conclude the plain meaning of the words amounts to an implicit delegation of taxing authority to the Minister. ...

Consideration of the surrounding circumstances recognizes that ascertaining contractual intention can be difficult when looking at words on their own, because words alone do not have an immutable or absolute meaning: No contracts are made in a vacuum: there is always a setting in which they have to be placed…. ... As well, the court should be guided by reasonableness and common sense. [26]   A waiver of a right of objection or appeal is not a contract, as the waiver does not require consideration. [32] Nevertheless, similar interpretational principles apply. ...   … certain legal questions fall for consideration. Can the Minister accept an offer of settlement that requires him to issue a reassessment that cannot be supported on the facts and the law? ...

If a builder builds a house for sale to a buyer, the builder is required to collect GST from the buyer in respect of the consideration paid by the buyer for the house. ... That, in addition to consideration of the taxpayer’s whole course of conduct while in possession of the asset, is what in the end generally influences the finding of the court. 16.   ... There remains for consideration the question as to whether criteria (b) and (c) [in subsection 195(5)] have been met in the circumstances of this case. ...

That provision states that a “settlement made... in favour of a purchaser or encumbrancer in good faith and for valuable consideration” is not void against the trustee in bankruptcy, thus providing a bona fide exception to ss. 91(1) and (2). However, the provision is not available in the case of self-settlement because, (1) there is no “purchaser or encumbrancer”, and (2) there is no exchange of “valuable consideration”. ... In any event, I reject the view that ss. 67(l)(b) and 91 of the BIA are in conflict, and that the resolution of the case at bar requires me to choose one provision over the other on the basis of policy considerations. ...

She says that when the amount of child support payments was set, income tax consequences were not discussed or taken into consideration by the Provincial Court. ... She stated that the practice and usual methods in setting maintenance do not include consideration of tax consequences. ... This amount takes into consideration the tax consequences. After tax $800 would be left for the children. ...