Search - consideration

The trademarks were acquired by NN Life on the same day as the sale to the appellant and NN Life gave consideration to Underwriters equivalent in value to what it received from the appellant. ...

The Queen, 94 DTC 1858, [1995] 1 CTC 2135 (TCC), aff'd at 98 DTC 6501 (SCC) after being, rev'd 96 DTC 6355 (FCA)-- summary under Agency Summary Under Tax Topics- General Concepts- Agency compelling evidence required to consider one company as agent for another The taxpayer's subsidiary ("CBL") transferred leasing assets to a partnership between CBL and two subsidiaries of a third party that was interested in acquiring those assets ("CCM" and "693396") in consideration for a partnership interest, an election was filed under s. 97(2), the taxpayer acquired the partnership interest of CBL on a winding-up of CBL pursuant to s. 88(1) and the taxpayer sold the partnership interest to 693396 and an affiliate of 693396. ...

., in his concurring reasons, found that the vendors were able to deduct $800,000 as an outlay or expense of the disposition (pp. 6413-6414): "In my opinion it is not necessary for a payment to be made without any consideration for there to be a 'débours' or 'outlay'... ...

Olsen, 2002 DTC 6770, 2002 FCA 3-- summary under Subsection 84.1(1) Summary Under Tax Topics- Income Tax Act- Section 84.1- Subsection 84.1(1) reference to s. 186(4) test included related definition The taxpayer transferred shares of a corporation ("Leader") to corporations controlled by the taxpayer's children and spouses in consideration for promissory notes. ...

Remai, 2009 DTC 5188 [at at 6257], 2009 FCA 340-- summary under Paragraph 251(1)(c) Summary Under Tax Topics- Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) providing a favour is consistent with arm's length dealing In order to make promissory notes that he had donated to a charitable foundation cease to be non-qualifying securities, the taxpayer arranged for the Foundation to sell those promissory notes to a corporation ("Sweet") owned as to 90% by his nephew, with Sweet issuing notes with identical terms to the Foundation as consideration for the purchase. ...

However, in my opinion, it more accurately reflects reality to say that Fiducie transferred 433 shares whose unit market value was $6,550, that the actual selling price of those shares was $2,836,423 (433 × $6550), an amount which, in fact, 404 obtained when it resold the shares to Keolis, and that the consideration given for this market value of $2,836,423 included two elements: a $2,602,637 promissory note, and 404's agreement to pay fees that Fiducie would have had to pay if 404 had not been interposed in the series of transactions carried out to sell the shares in question to Keolis. ...

"The question of the liability of the respondent to taxation depends, not upon the intention of the promoters or shareholders as to the disposition to be made of the profits but rather upon consideration of the terms of the letters patent, the nature of the business authorized to be carried on and of the business which was carried on which resulted in the earning of the income. ...

It was held (at p. 6268) that "each of the four shareholders was entitled to the $1,000.00 actually paid to him by the company either because the 96 shares issued to the appellant as part of the consideration for the partnership property were held by the appellant on a resulting trust for the members of the partnership in equal shares, or because the agreement between them called for them to have equal equity shareholdings in the company and to share equally in any divisions of the profits of the company". ...

In consideration for the settlement payment, Valley Equipment abandoned its right to continue as a John Deere dealer. ...

The underground operation was found to be a separate mine from the surface operation in light of such factors as the lack of physical interconnection between the two works, the different anticipated life span for the operations, the lack of interchangeability of the workforces, and the fundamentally different production techniques and safety considerations involved. ...