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Therefore, where a person resident in Canada gives consideration for a right to cut or remove timber from such a limit owned by a non-resident, that consideration will be expressly subject to income tax under Part XIII of the Act pursuant to paragraph 212(1)(e) thereof to the extent that it "is dependent on, or computed by reference to, the amount of timber cut or taken". ... Where consideration is received by a non-resident "for a right under or pursuant to which a right to cut or take timber from a timber resource property or a timber limit in Canada is obtained or derived", the question then becomes the extent, if any, that such consideration is "dependent on, or computed by reference to, the amount of timber cut or taken". ... As such, it is arguable that consideration received by a non-resident for the disposition of a right to cut and remove timber from a timber resource property or a timber limit in Canada, whether or not that consideration is a "timber royalty" pursuant to paragraph 212(1)(e) of the Act, may be subject to income tax under Part I of the Act. ...

3 November 2010 External T.I. 2010-0383481E5- Principal Residence Exemption Unedited CRA Tags 40(2)(b), 248(1) Principal Issues: What are the income tax consequences when a parent transfers for estate planning purposes partial ownership of a principal residence to an adult child for no consideration? ... XXXXXXXXXX James Kerr 2010-038348 November 3, 2010 Dear XXXXXXXXXX: RE: Principal Residence Exemption I am writing in reply to your email dated October 12, 2010 enquiring about the income tax consequences when a parent transfers for estate planning purposes partial ownership of a principal residence to an adult child for no consideration. ... You seemed to be concerned with whether there is a disposition if no consideration were to be paid and where the adult child continues to reside in the principal residence. ...

The sole fact than an employee is beneficiary under an EPSP does not constitute consideration payable to acquire an interest in the EPSP. 5-943213 XXXXXXXXXX G. ... A personal trust, as defined pursuant to subparagraph 248(1) of the Act, includes an inter vivos trust in which no beneficial interest was acquired for consideration payable to the trust or to any person who has made a contribution to the trust. ... However, in our view, the sole fact that an employee is a beneficiary under an EPSP due to his employment does not constitute consideration payable to the employer to acquire a beneficial interest in the said EPSP. ...

Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère. 1994 Canadian Tax Conference Interest-Bearing Note Issued in Consideration For the Redemption or Repurchase of Shares In certain circumstances, corporations may purchase their issued shares for cancellation or redeem their shares and issue as consideration therefor an interest-bearing note. ... It is the Department's view that the interest payable on a promissory note issued as consideration for the redemption or purchase for cancellation of a corporation's capital stock is not deductible under paragraph 20(1)(c). ...

Position: No position taken Reasons: Issue is under consideration by TSO XXXXXXXXXX 2000-002232 Wayne Antle December 18, 2000 Dear XXXXXXXXXX: Re: Purchase of Computers with Professional Development Funds This is in response to your letter dated April 14, 2000 concerning whether the purchase of computers with professional development funds for the use of administrative officers ("AO's") would be included in the income of the AO's as a taxable benefit from employment. It is our understanding that this issue has been under consideration by the XXXXXXXXXX Tax Services Office. ... As discussed, we will not comment on transactions that are under consideration by a tax services office, unless we are asked to do so by a field office. ...

The consideration received by the transferor is one preferred share of the transferee having a nominal value which is below the fair market value of the transferred property. ... In each case it could reasonably be regarded that the value of the transferred property in excess of the consideration paid is a benefit that the transferor desired to have conferred on the transferee, a person related to the transferor. ...

3 October 1980 Income Tax Severed Letter RCT 7-532 F Unedited CRA Tags 85(1), 56(4) RE:     XXX Fractional Shares Received as Consideration for Property Transferred under Subsection 85(1)of the Income Tax Act (the Act) This is in reply to Mr. ... Subsection 85(1) of the Act contemplates the issuing of shares from treasury of a corporation, to form at least part of the consideration to be taken back. XXX XXX There, we are of the view that these elections are invalid on the grounds that a share was not received as part of the consideration for the property transferred. ...

Your administrative practice, as I understand it, has been to allow a purchaser to obtain a fair market value basis and a vendor to obtain a rollover, in respect of a fraction of a share acquired by the purchaser corporation, where a combination of shares and other consideration has been received from the purchaser corporation. This treatment is only available where the purchaser has allocated the share consideration to a specific fraction of each share acquired. As a result of the amendments to section 85.1, a purchaser may choose not to allocate the share consideration given by it to any fraction of the shares acquired from the vendor in order that section 85.1 will not apply to the acquisition. ...

The husband transfers his shares of the Opco to a Holdco pursuant to subsection 85(1) of the Act, presumably for consideration that includes at least one share of Holdco. ... The effect of the application of subsection 84.1(1) will depend on the paid-up capital, within the meaning of paragraph 89(1)(c) of the Act ("PUC"), of the transferred Opco shares and the Holdco shares issued as consideration, and on the value of any non-share consideration received by the husband from Holdco for his Opco shares. ...

The Partnership assumed the Mortgage and paid for the land by way of an agreement for sale; (c) It is now proposed that the land be transferred back to the Company and the Partnership be liquidated pursuant to Section 85(2) and Section 85(3) of the Income Tax Act; (d) On the transfer under Section 85(2), it is proposed that the consideration to the Partnership for the transfer of the land be a combination of the assumption of the Mortgage, preferred shares equal in value to the adjusted cost base of the Partnership interests of the partners in the Partnership, and common shares equal to the balance up to the fair market value. In our view, the adjusted cost base of the preferred shares to the partner after the distribution of those shares from the Partnership to the partners is not reduced under the provisions of paragraph 85(3)(e) of the Act by the amount of the Mortgage assumed, as the assumption of the Mortgage by the company does not represent consideration received by a partner for the disposition of his interest in the partnership. ... In addition, in our view, in order to qualify under the provisions of subsections 85(2) and (3) of the Act all the property of the Partnership must be disposed of to one corporation (the corporation) and immediately before the winding-up of the Partnership, there must be no partnership property other than money or property received from the corporation as consideration for the disposition of its assets. ...