Search - consideration

There must be no consideration or inadequate consideration flowing from the transferee to the transferor, and 4.     ... Was There Consideration For The Transfer [24]         The consideration factor from Livingston above was aptly described in paragraph 27 thereof: Under subsection 160(1), a transferee of property will be liable to the CRA to the extent that the fair market value of the consideration given for the property falls short of the fair market value of that property. ... However, subsection 160(1) will not apply where an amount equivalent in value to the original property transferred was given to the transferor at the time of transfer:… [25]         There is no dispute between the parties that it is established law that where a transfer of property is in the nature of a loan repayment that money obtained from the loan can be viewed as fair market consideration for the property. ...

So long as there is a reasonable prospect that the asserted interactions could, if true, result in a finding of sufficient proximity, and the statute does not exclude that possibility, the matter must be allowed to proceed to trial, subject to any policy considerations that may negate the prima facie duty of care at the second stage of the analysis. ... The next consideration is whether policy considerations should prevent a duty of care from being imposed. ... To the extent that he did not, I will do so here, as did this Court in Gordon (above, at para 36). [34]            The Defendants submit that the following policy considerations are sufficient to negate the imposition of a duty of care in this case: the prospect of indeterminate liability; the fact that the CRA’s decision to issue a warning is a true policy decision; and the fact that section 241 of the ITA conflicts with such a duty. [35]            In my view, none of these policy considerations are sufficient to negate the duty of care at this stage without a hearing. ...

These factors may be relevant considerations with respect to a s.15 Charter value of non-discrimination in the MD’s referral decision. ... There is no indication in the record or in the MD’s decision that she turned her mind to any of these considerations. 57.   ... Does this obligation, if any, depend in the subject of the report identifying and requesting consideration of Charter values? ...

Where an amount can reasonably be regarded as being in part the consideration for the disposition of any property of a taxpayer and as being in part consideration for something else, the part of the amount that can reasonably be regarded as being the consideration for such disposition shall be deemed to be proceeds of disposition of that property irrespective of the form or legal effect of the contract or agreement; and the person to whom the property was disposed of shall be deemed to have acquired the property at the same part of that amount. ... It is merely one factor that a Court should take into consideration. It should not be overly stressed or overly emphasized. ... Nevertheless I am prepared to determine that the amount which can reasonably be regarded as the consideration for the disposition of the land in 1977 was $627,200. ...

Section 68 reads as follows: Amounts in part consideration for disposition of property. Where an amount can reasonably be regarded as being in part the consideration for the disposition of any property of a taxpayer and as being in part consideration for something else, the part of the amount that can reasonably be regarded as being the consideration for such disposition shall be deemed to be proceeds of disposition of that property irrespective of the form or legal effect of the contract or agreement; and the person to whom the property was disposed of shall be deemed to have acquired the property at the same part of that amount. ... In any event Mr Sachs, in his testimony, affirmed that for the I’Esplanade property the Only consideration was $185,000 (paragraph 5.09 of the Facts). ...

The common shares were issued for an aggregate consideration of $50,000,000. 4. ... The aggregate consideration paid for all the common shares was $50,000,000. ... This cancellation was the consideration received by Petrosar for the issue of its Class C shares and again conversely the consideration the Shareholder corporations received for surrendering their debentures and accrued interest therein was the Class C shares received. ...

It stated that they: Do hereby in consideration of the sum of One ($1.00) Dollar and other good and valuable consideration, paid to us by S.W.H. ... As there appears to have been full consideration for the $12,882.80, subsection 160(1) cannot apply. ... Second that there was no consideration for the transfer and the money was not repaid. ...

A trade-in transaction is the exchange of a used asset plus monetary consideration, usually cash, for a new asset, usually of a similar nature. ... This value may be determined either as the cash sale price of the new asset, or as the fair market value of the asset given up plus monetary consideration. ... Section 68 of the Act read as follows for the years under appeal: Amounts in part consideration for disposition of property.— Where an amount can reasonably be regarded as being in part the consideration for the disposition of any property of a taxpayer and as being in part consideration for something else, the part of the amount that can reasonably be regarded as being the consideration for such disposition shall be deemed to be proceeds of disposition of that property irrespective of the form or legal effect of the contract or agreement; and the person to whom the property was disposed of shall be deemed to have acquired the property at the same part of that amount. ...

Section 182 does not apply when the payment is made in consideration of a supply, which is the case here ... Acton paid Caterpillar in consideration for the units it acquired as part of its business operations ... In my view, there cannot have been payment to the registrant (Caterpillar) otherwise than as consideration for the supply ...

One consideration may point so clearly that it dominates other and vaguer indications in the contrary direction. ... It is only under exceptional circumstances that it must be considered income, especially after the above considerations. ... D on the footing that the consideration falls within the category "annual profits and gains". ...