Search - consideration

Robertson JA affirmed the Minister's opinion that the $50 "fines" were consideration for a taxable supply- the provision of parking services. ...

Dreyfus [1906] 1 KB 584 at 589) but would also include one who lends money on a regular and continuous basis over time to a limited group of borrowers for an arm's length consideration (see in particular the extended meaning of the word "business" in par. 248(1)). ...

Tallon is to be deprived of the benefit of the prior decision for a subsequent year, it is only fair to her that the Court give careful consideration to the reasons in the prior case. ...

"The premiums are part of the consideration given by the borrowers for the use of the capital lent to them, and part of 'the creditor's share of the profit which the borrower... is presumed to make from the use of the money'. ...

The Queen, 89 DTC 5458, [1989] 2 CTC 284 (FCTD)-- summary under Section 67 Summary Under Tax Topics- Income Tax Act- Section 67 bonus amounts to family members were completely disproportionate to services rendered Accrued remuneration incurred by a family-owned corporation for two weeks per year of work at the store by the wife of one of the minority shareholders (of $50,000 per annum for the 1982 to 1984 taxation years of the corporation) and for one month's work each year by each of her four children (ranging from $12,500 to $20,000 for those taxation years) was found to be "completely out of proportion to what others receive for working in the store", and the deductible amount was reduced, taking into account the countervailing consideration that "it is not reasonable to limit their remuneration to what was paid to non-family members". ...

In response to the taxpayers' submission that too much time had passed between the different transactions for them to be one series of transactions, Trudel JA noted (at paras. 17-19) that Copthorne indicated that sometimes the elapsed time would be a relevant factor in this determination, and that Boyle J had made a finding of fact that, at the time the decision was taken to pay a capital dividend, New Supervac had taken into consideration the capital dividend account that had been acquired with the Old Supervac shares. ...

., 2000 DTC 6549, docket A-500-98, 2002 FCA 226-- summary under Paragraph 12(1)(b) Summary Under Tax Topics- Income Tax Act- Section 12- Subsection 12(1)- Paragraph 12(1)(b) right to receive amounts had become absolute The taxpayer, which was a real estate developer, agreed with each of three partnerships to construct and complete a MURB project and provide certain initial services essential to the project pursuant to a development agreement, including the provision of ongoing financial guarantees, in consideration for the partnership's promise to pay stipulated amounts to the taxpayer in instalments as evidenced by promissory notes and, in the case of two of the three projects, wrap-around mortgages. ...

The Queen, 2012 DTC 1019 [at at 2575], 2011 TCC 520-- summary under Agency Summary Under Tax Topics- General Concepts- Agency 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. ...

In affirming the Tax Court reasons, Sharlow JA stated (at para. 6): [The connecting factors test] requires a complete consideration of all of the facts relating to the income, which must include but cannot be limited to the formal legal structure through which the income is received. ...

Profit- Patents and Know-How The taxpayer, which was incorporated for the purpose of exploiting a patent for stainless steel which (by the time of the appeal to the Commissioners) had been granted to it in 28 countries, was found to have realized capital receipts when it transferred its American patent rights to an American subsidiary in consideration for shares, and sold the Japanese patent rights to a Japanese company for £25,000 payable in cash instalments (plus an annual royalty of £1,000, which it acknowledged to be taxable). ...