Search - consideration

The Queen, 2018 TCC 231-- summary under Paragraph (l) Summary Under Tax Topics- Excise Tax Act- Section 123- Subsection 123(1)- Financial Service- Paragraph (l) a car dealer who promoted and processed credit insurance to its customers was “arranging for” insurance A car dealer entered into a “Dealer Agreement” with a distributor of credit insurance products under which it was agreed that it would “up sell” the insurance products and assist the car customers in applying for the insurance in consideration for a commission of over 50% of the insurance premium. ...

D'Arcy J first found that each purchased interest qualified as a qualified investmetn, and then found that there was no income inclusion in the RRSP annuitants’ income under s. 146(9)(b), on the basis that such mortgage interests had a fair market value that equaled rather than being less than the cash consideration paid by the RRSPs therefor, stating (at paras. 64, 68) that: [T]he appellants purchased those interests as willing buyers from an arm’s length seller and... neither the appellants nor the seller (U-Have) were under any compulsion to buy or sell. ...

CIBC argued that these fees were (1) consideration for intangible personal property (the Aeroplan Miles) that were supplied by Aeroplan, and (2) that such IPP was exempted as being a supply of “gift certificates.” ...

Accordingly, he found that there was a transfer of property for insufficient consideration to which s. 160 applied at the time of the set-off transaction. ...

He further found that charges made by DTI at the end of each trip to the drivers of $0.76 per mile for fuel, and $0.08 per mile for vehicular maintenance, were consideration for an on-supply by DTI to the drivers of fuel and maintenance services. ...

The Queen, 2020 TCC 53-- summary under Subsection 232(3) Summary Under Tax Topics- Excise Tax Act- Section 232- Subsection 232(3) failure to credit the adjustment precluded a s. 232(3) deduction In 2012, a company (“9267”) sold domain names to another corporation (“9210”) that was owned equally by its individual shareholder and an unrelated individual for cash consideration to be paid in instalments. ...

The Queen, 2022 TCC 13-- summary under Subsection 104(6) Summary Under Tax Topics- Income Tax Act- 101-110- Section 104- Subsection 104(6) s. 104(6) permitted the deduction of an amount initially treated as a capital distribution An estate engaged in accelerated pipeline transactions in which it transferred shares (stepped up under s. 70(5)) of a portfolio company (“Holdco”) to a Newco in consideration for a note, with Holdco being wound up into Newco a day later – and with the note being repaid by Newco to the estate about three weeks later. ...

The reason for the mistake is simply not a consideration in the application of the section. ...

The King, 2023 TCC 67 (Informal Procedure)-- summary under Recipient Summary Under Tax Topics- Excise Tax Act- Section 123- Subsection 123(1)- Recipient the recipients of a supply were the agents named in the purchase agreement, not the beneficial purchaser A claimant of the new residential rental property rebate (NRRPR) is required under s. 256.2(3)(a) to be the “recipient” of the supply of the property meaning, generally, that it is liable for the consideration for the supply under the purchase agreement. ...

Lanery, were employee remuneration for CPP and EI purposes turned on a determination of their “dominant purpose,” namely, “whether on balance the payments were made on account of monetary assistance to enhance the PDF’s education and research skills or paid as income in consideration of various services provided by the PDF to the University.” ...