Search - consideration

…[I]t is difficult to see how the legal treatment of a dividend under corporate and civil law would prevent Parliament from regarding that dividend, for tax purposes, as a transfer of property without consideration when made by persons who are not dealing at arm's length. … In also rejecting the taxpayer’s argument that a portion of the dividends were in fact loan repayments, he stated (at paras. 25-26): However, this does not change the fact that the dividends … were reported as dividends …. ...

Muir had given consideration of $124,000 to the Corporation. Before vacating the assessment, Boyle J stated (at paras 19, 20 and 22): I find that the $124,000 was transferred by the Corporation to Ms. ...

Although there was no evidence as to how the purchase price, and the proceeds of the judicial sale, should be allocated between the mortgage and the debt, he found in light of the circumstances including the insolvency of the debtor that it was reasonable to allocate 99.9% and 0.1% of the purchase consideration to the mortgage and the debt, respectively and that “to achieve symmetry” (para. 116) the proceeds should also be allocated in those proportions. ...

Sommerfeldt J found, in light of the insolvency of the developer, that it was reasonable to allocate 99.9% and 0.1% of the purchase consideration to the mortgage and the debt, respectively and that “to achieve symmetry” (para. 116) the proceeds should also be allocated in those proportions. ...

These transactions depended in part on the appellants being considered to have acquired units of an income fund ("FMO") from another income fund ("TOM") (which in turn had purportedly acquired the FMO units from an RRSP in consideration for issuing TOM units to it) at a cost equaling the units’ FMV, followed immediately by a distribution to them of capital gains that had been realized by FMO – with that distribution not reducing the ACB of their units by virtue of s. 53(2)(h)(i.1)(A) and (B)((I). ...

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

CRA originally denied input tax credit claims of CFI for the HST that was charged to it by the originators on the prepaid rent payments on the grounds that such payments were consideration for a financial service but, after some time, ultimately reversed that position and confirmed the ITC denials on the basis that CFI had not satisfied the documentary requirements of s. 169(4) and the Input Tax Credit Information (GST/HST) Regulations (the “Regulations”). ...

He assigned the other ½ of his shares to her in consideration for a promissory note of approximately $1M, and elected out of the application of s. 73(1), so that he realized a capital gain of approximately $1M and her ACB increased by this amount. ...

He went on to indicate (at para. 55) that, to determine the character of the single supply, it was necessary to determine “which element caused the payment of the consideration,” and then stated (at para. 57) that in light of the importance of the professional services provided by Dr. ...

Now that MPP was an empty shell, Madison and Vanac transferred respective portfolios of rental properties to MPP in consideration for the assumption of liabilities and for the issuance of a mixture of Class B voting shares and Class C non-voting shares (with the same attributes other than being generally non-voting) so that Madison and Vanac collectively held (and in equal proportions, after giving effect to some catch-up transactions to equalize those holdings) 46.6% of the voting rights and 92.8% of the equity of MPP. ...