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The Queen, 2015 TCC 191 (Informal Procedure)-- summary under Regulation 3100 Summary Under Tax Topics- Income Tax Regulations- Regulation 3100 notes were prescribed benefit where no intention to demand payment Lyons J found (at para. 42) that the taxpayers were not required by Blue Hill, the promoter of a tax shelter investment in mineral claims, to pay the promissory notes issued by them in consideration for Blue Hill incurring Canadian resource expenditures on their behalf. ...

The Queen, 2010 DTC 1216 [at at 3582], 2010 TCC 317, rev'd in part 2013 DTC 5085 [at 5959], 2013 SCC 29-- summary under Certainty Summary Under Tax Topics- Statutory Interpretation- Certainty Before finding that the consideration in an asset sale represented by the assumption by a purchaser of a future reforestation liability should be heavily discounted from the estimate of its value by the taxpayer's auditors, C. ...

The Queen, 2010 DTC 1216 [at at 3582], 2010 TCC 317, rev'd in part 2013 DTC 5085 [at 5959], 2013 SCC 29-- summary under Realization Principle Summary Under Tax Topics- Statutory Interpretation- Realization Principle Before finding that the consideration in an asset sale represented by the assumption by a purchaser of a future reforestation liability should be heavily discounted from the estimate of its value by the taxpayer's auditors, C. ...

The Queen, 2006 DTC 3558, 2006 TCC 509, briefly aff'd 2008 DTC 6015, 2007 FCA 360-- summary under Section 87 Summary Under Tax Topics- Other Legislation/Constitution- Federal- Indian Act- Section 87 The taxpayer, a status Indian who resided both on and off a reserve, transferred investments to a corporation resident on the reserve and controlled by her non-Indian husband and his children from a previous marriage in consideration for an interest-bearing promissory note of the corporation. ...

The Queen, [2004] GSTC 36, 2003 TCC 895 (Informal Procedure)-- summary under Section 25 Summary Under Tax Topics- Excise Tax Act- Schedules- Schedule V- Part VI- Section 25 The sale of serviced lots by a municipality, with a separate (as to 94% of the total consideration) municipal infrastructure charge was found to entail two supplies (the sale of land, and the provision of infrastructure services) given that land could have been sold independently of the installation or repair of sewer and water systems and given that the breakdown between the two charges appeared clearly in the sale contract. ...

MNR, 89 DTC 242, [1989] 1 CTC 2364 (TCC)-- summary under Canadian Investment Income Summary Under Tax Topics- Income Tax Act- Section 129- Subsection 129(4)- Canadian Investment Income The taxpayer sold to a related company its sporting goods business, a gas bar and the underlying land in consideration of an interest-bearing promissory note, and retained other businesses including a restaurant and a convenience store. ...

The Queen, 2019 TCC 265-- summary under Land Summary Under Tax Topics- General Concepts- Fair Market Value- Land FMV of home potentially reduced by spouse continuing to live there After finding that s. 160 applied on the basis that ½ of the beneficial ownership of the family had been transferred for nominal consideration to the taxpayer by her husband, a tax debtor, MacPhee J also noted (at para. 34) that “it could be argued that the value of what was transferred by Mr. ...

The King, 2024 TCC 50-- summary under Subsection 306.1(1) Summary Under Tax Topics- Excise Tax Act- Section 306.1- Subsection 306.1(1) CRA was aware that the ancillary issue that was not explicitly raised was included in the objection TD, whose appeal was focused on the question of whether payments which it made to Aeroplan for purchase Aeroplan Miles were not subject to HST on the basis of being consideration for gift certificates, was not precluded from arguing that payments which it made to another bank (CIBC) in respect of Aeroplan Miles also enjoyed the same treatment (notwithstanding that such payments were not referenced in its objection) given that CRA had regarded this issue as being included in TD’s objection. ...

The King, 2025 TCC 16-- summary under Subsection 248(26) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(26) deeming of taxpayer liability to be an obligation Before going on to find that advances made to an employee as a performance award constituted loans and after paraphrasing s. 248(26), Ouimet J stated (at para. 35): Consequently, for a taxpayer who either becomes liable to repay money they borrowed or becomes liable to pay an amount (other than interest) as consideration for any property they acquired, the liability shall be considered to be an “obligation” for the purposes of applying the relevant provisions of the ITA. ...

The taxpayer and his sister Gaby then transferred all their Class F shares of Groupe Pomerlau Inc. under s. 85(1) to a holding company of the taxpayer (P Pom Inc.) in consideration for Class G shares with a deemed cost equal to their FMV (of $0.6 million, in the taxpayer’s case) but with a modest PUC, and for Class A shares with nominal ACB and PUC. ... The taxpayer then transferred all of his Class A shares of P Pom Inc. under s. 85(1) to a new personal holding company (Gestion Pierre Pomerlau Inc.) in consideration for Class A shares having an FMV of $20.4 million and nominal ACB and PUC, and Class C shares with a PUC and FMV of $1.994 million, with the Class C shares immediately being retracted by him. ...