Search - consideration

The Queen, 2013 TCC 53, aff'd 2013 FCA 260-- summary under Subsection 153(1) Summary Under Tax Topics- Excise Tax Act- Section 153- Subsection 153(1) recoupment of development charges included in consideration The registrant ("Mattamy"), which was a housing developer, paid municipal development levies at the time it entered into a subdivision agreement with the municipality, or when the municipality issued building permits. ... Accordingly, the recoupment of the development charges by Mattamy was part of the sales consideration received by it, and was subject to GST. ...

These amounts were found to be part of the taxable consideration for such home sales, with the result that Mattamy was found to have been understating the sales price to the purchasers. As the new housing rebates ("NHRs") of the purchasers (which they had assigned to Mattamy and which it had rebated to them as contemplated in s. 234(1)) increased as the sales price increased to $350,000, this increased taxable consideration increased the NHRs which could have been claimed on some of the sales. ...

The Minister applied the single-supply doctrine to treat the entire amount as consideration for an interest in real property. ... Either way, the consideration paid for the deposit recoveries was not taxable. ...

Lamarre J. found that the related fees paid by PC Bank to CIBC were consideration for arranging for financial services and, therefore, consideration for an exempt supply. ...

The Queen, 2003 DTC 951, 2003 TCC 494-- summary under Other Summary Under Tax Topics- General Concepts- Fair Market Value- Other The taxpayer assigned a commission of $3.9 million that was to be paid on a deferred basis by a limited partnership in consideration for the taxpayer having helped secure $49 million in equity capital that was to be invested (largely on as deferred basis) in the limited partnership, which was slated to purchase an office tower property approximately six months later, to a Cayman Islands corporation that was an indirect shareholder and with which it did not deal at arm's length, for cash consideration of $41,300. ...

The Queen, 2003 DTC 951, 2003 TCC 494-- summary under Subsection 15(1) Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(1) The taxpayer assigned a commission of $3.9 million that was to be paid on a deferred basis by a limited partnership in consideration for the taxpayer having helped secure $49 million in equity capital that was to be invested (largely on as deferred basis) in the limited partnership, which was slated to purchase an office tower property approximately six months later, to a Cayman Islands corporation that was an indirect shareholder and with which it did not deal at arm's length, for cash consideration of $41,300. ...

The Queen, 2009 DTC 1394 [at at 2155], 2009 TCC 597-- summary under Subsection 103(1.1) Summary Under Tax Topics- Income Tax Act- 101-110- Section 103- Subsection 103(1.1) family trust allocated unreasonable return on its nominal-cost units The taxpayer and her son transferred real estate on a rollover basis to a partnership in consideration for Class A units of the partnership having a redemption value, subject to a price adjustment clause, of approximately $1.25 million for each of them. Several days later, the partnership issued Class C units to a family trust for consideration of $100. ...

Hogan J found that it was "manifestly incorrect" for the Minister's Reply to refer to the "consideration for the guarantee fee" rather than "consideration for the guarantee" (para. 29). ...

The Queen, 2012 DTC 1019 [at at 2575], 2011 TCC 520-- summary under Corporate/Separate Personality Summary Under Tax Topics- General Concepts- Corporate/Separate Personality Seeking to protect herself from being sued by her brother, the taxpayer transferred title to all her real properties for no consideration to corporations under her majority control. ... Hogan J. noted (para. 30) that "a transfer of property for no consideration generally results in a rebuttable presumption of a resulting trust". ...

The Queen, 2012 DTC 1019 [at at 2575], 2011 TCC 520-- summary under Subsection 104(1) Summary Under Tax Topics- Income Tax Act- 101-110- Section 104- Subsection 104(1) bare trust arising on creditor-proofing transfer Seeking to protect herself from being sued by her brother, the taxpayer transferred title to all her real properties for no consideration to corporations under her majority control. ... Hogan J. noted (para. 30) that "a transfer of property for no consideration generally results in a rebuttable presumption of a resulting trust". ...