Search - consideration

Gillis transferred the property on a s. 85(1) rollover basis to a newly-incorporated corporation (“Tri-Holdings”) in consideration for the assumption of a portion of the mortgage on the property and for the issuance of four common shares (representing all the Tri-Holdings’ shares) with a nominal paid-up capital (“PUC”). ... Gillis then transferred those shares on a s. 85(1) rollover basis to a newly-incorporated holding company, 626468 New Brunswick Inc. (“626 NB”), in consideration for shares of 626 NB with a nominal PUC. ...

Canada (the King), 2025 FCA 27-- summary under Supply Summary Under Tax Topics- Excise Tax Act- Section 123- Subsection 123(1)- Supply Ontario electricity suppliers made single supplies of electricity notwithstanding separate regulatory and delivery charges Bell Canada was required as a result of ETA s. 236.01 and the related regulation to recapture 100% of the input tax credits that it claimed in respect of the 8% Ontario HST that it paid on the consideration for the supplies to it in Ontario of electricity. ... Québec (Sous-ministre du Revenu), 2002 CanLII 25441 (QC CA) was distinguishable on the ground that it “involved two separate contracts and two separate considerations paid, thus creating two distinct supplies” (para. 29). ...

(g) of the definition, Sharlow JA stated (at paras. 25, 28, 30): [T]here is no evidence that Global would have been prepared to pay consideration to the Casinos for any of the three elements on its own. Since the three elements are integrally connected and there is a single consideration, there is a single supply.... ...

Canada, 2019 FCA 217-- summary under Paragraph 262(2)(b) Summary Under Tax Topics- Excise Tax Act- Section 261- Subsection 261(2)- Paragraph 262(2)(b) denial includes where the CRA assessment of the tax was of another person A non-resident bank ("Citibank") agreed to fund the payment of the upfront brokerage commissions that were payable on the issuance of units in the Invesco/Trimark funds (the “Funds”) in consideration for receiving an assignment of a portion of the amounts that otherwise would have been earned by the Invesco manager as management fees. More precisely, the manager agreed to reduce its management fees (i.e., reduce its percentage charge of NAV), and the Funds agreed to pay the same percentage amounts to a special purpose non-resident Citibank-formed vehicle (“Funding Corp”) essentially in consideration for Funding Corp paying the brokerage commissions. ...

., 73 DTC 5354, [1973] CTC 434 (FCA), briefly aff'd 76 DTC 6312, [1976] CTC 415 (SCC)-- summary under Subsection 88(1) Summary Under Tax Topics- Income Tax Act- Section 88- Subsection 88(1) The word "distributed" was held not to include a sale of accounts receivable for valuable consideration. ...

Sexton J.A. stated (at p. 7119) that "Technical Notes are not binding on the courts, but they are entitled to consideration." ...

Canada, 2003 DTC 5225, 2003 FCA 128-- summary under Exempt Receipts/Business Summary Under Tax Topics- Income Tax Act- Section 9- Exempt Receipts/Business non-taxable non-compete Consideration received by the taxpayer for giving a non-compete covenant on the sale of shares of companies owned by him directly or through holding companies was found to be a non-taxable capital receipt. ...

Canada, 2003 DTC 5225, 2003 FCA 128-- summary under Expense Reimbursement Summary Under Tax Topics- Income Tax Act- Section 9- Expense Reimbursement Consideration received by the taxpayer for giving a non-compete covenant on the sale of shares of companies owned by him directly or through holding companies was found to be a non-taxable capital receipt. ...

W4N selling its intellectual property, goodwill and some of its other business assets to EMC for consideration including two “capital dividend” notes totaling $22 million (which were later distributed) and a “Balance Note” for $19.75 million. Souty and Virtuose selling special voting shares of W4N to EMC Canada for nominal consideration so as to effect an acquisition of control of W4N and a resulting year end. The balance of the shares of W4N now being sold directly, or through a sale of the balance of the Virtuose shares, for cash consideration of around $14 million. ...

Canada, 2008 DTC 6513, 2007 FCA 16-- summary under Subsection 6(3) Summary Under Tax Topics- Income Tax Act- Section 6- Subsection 6(3) non-solicitation covenant taxable A lump sum received by the taxpayer, who was an investment advisor employed by a Canadian securities firm, on the termination of his employment was found to constitute consideration for his covenant (contained in the termination agreement) not to solicit clients given that "the non-solicitation covenant is at the heart of the termination agreement, which makes no mention of any sale of assets" (para. 16). ...