Search - consideration

Principal Issues: a) Before the acquisition of control of a target corporation ("Targetco"), a specified shareholder of Targetco acquires a property from Targetco for cash consideration. ... Stéphane Prud'Homme (613) 957-8975 Le 5 octobre 2007 2007-024326 ROUND TABLE ON THE FEDERAL TAXATION APFF- 2007 CONFERENCCE Question 23 Bump-up of the Tax Cost of Capital Property Following a Winding-Up- Paragraphs 88(1)(c) and (d) of the ITA a) Situation concerning the restriction in subparagraph 88(1)(c)(vi) of the ITA A specified shareholder of a corporation ("Targetco"), acquires property from the latter before its acquisition of control by a third party ("Buyerco") for cash consideration. ...

The Trust property is any and all tangible or intangible property held in the Trust from time to time, including the consideration paid by Unitholders in respect of their Units, any cash deposits, and any securities acquired by the Trust. ... The Trust property is and will remain any and all tangible or intangible property held in the Trust from time to time, including the consideration paid by Participants in respect of their Units, any cash deposits, and any securities acquired by the Trust. ...

Adjusted cost base of transferred shares determined under s. 84.1(2) will be equal to the fair market value of the non-share consideration taken back by transferor. 2. ... The Proposed Transactions were identified by the Executors after the death of X as an appropriate means of preventing double taxation, and were proposed by the Executors on or about XXXXXXXXXX for consideration by the Beneficiaries. ...

These calculations consider both the Partners' XXXXXXXXXX services, and may, for example, include consideration for time spent serving on the Executive Committee; and (d) each Partner's monthly drawings is normally determined as XXXXXXXXX % of XXXXXXXXXX of their annual gross income target, which is set by the Executive Committee in consultation with each Partner. ... Pursuant to a written agreement and in consideration for a fair market value fee, Partnership E will provide the Contracting Companies with certain supplies, personnel, facilities and equipment that are required to provide XXXXXXXXXX Services. ...

These calculations consider both the Partners' XXXXXXXXXX services, and may, for example, include consideration for time spent serving on the Executive Committee; and (d) the Partners receive bimonthly draws based on the anticipated profits of Partnership G. ... Pursuant to a written agreement and in consideration for a fair market value fee, Partnership G will provide the Contracting Companies with certain supplies, personnel, facilities and equipment that are required to provide XXXXXXXXXX Services. ...

The shareholders of Newco received shares of XXXXXXXXXX as consideration for their shares of Newco that they held immediately before the merger. 12. ... Legislation Where there has been an amalgamation of two or more corporations after May 6, 1974, subsection 87(4) of the Act provides that each shareholder of a predecessor corporation will be deemed by paragraph 87(4)(a) to have disposed of their shares of the predecessor corporation for proceeds of disposition equal to the adjusted cost base to that shareholder of such shares immediately before the amalgamation and will be deemed by paragraph 87(4)(b) to have acquired the shares of the new corporation formed on the amalgamation at an aggregate cost equal to those proceeds of disposition in those situations where the original shares were capital property to the shareholder and where the shareholder received no consideration, other than shares of the capital stock of the new corporation, for the disposition of the shares of a predecessor corporation. ...

This second line of authority declined to apply statutory and common law sale of goods rules but advocated a literal construction of the word "sale", such that any transfer of property manufactured by a taxpayer to a customer for a consideration, regardless of the nature of the contract between them, would amount to a sale within the meaning of the legislation. ... " In determining whether or not a contract is for the sale of goods, the point in time when ownership of the product passes to the customer is an important consideration. ...

As consideration therefor, Newco will issue to the Estate a non-interest bearing demand promissory note ("Newco Demand Note"), having a fair market value and principal amount equal to the adjusted cost base of the XXXXXXXXXX Holdco Common Shares to the Estate immediately before the transfer less $XXXXXXXXXX, and XXXXXXXXXX Class A common shares of Newco ("Newco Class A Shares"). ... The aggregate amount to be added to the stated capital account maintained for the Newco Class A Shares under the BCA that are issued as consideration for the XXXXXXXXXX Holdco Common Shares will be $XXXXXXXXXX. 8.1 Immediately prior to the amalgamation of Newco and Holdco described in Paragraph 9, all money held by Holdco at that time will be used to pay down Holdco's operating line of credit with the XXXXXXXXXX, such that no money will be on hand in Holdco at the time of such amalgamation. 9. ...

The value of its net investments was € XXXXXXXXXX, and XXXXXXXXXX% of the Fund's investments consisted of liquid assets, which are invested so as to ensure that there is always sufficient liquidity available to fund future redemptions and to fund property acquisitions that are continually under active consideration by the Company on behalf of the Fund. b. ... Capital Requirements-A capital investment company is obliged to ensure that it meets minimum initial capital and additional fund requirements and, for this purpose, investment asset pools that are managed by the investment company are not taken into consideration. ...

The Subco Preferred Shares were issued as consideration for the transfer of assets by Pubco in favour of Subco on a rollover basis. The Subco Preferred Shares are retractable for an amount equal to the fair market value ("FMV") of the consideration received by Subco upon the issuance of the shares, plus a premium to be established in function of various parameters (the "Premium"). ...