Search - consideration

Thomson, Rogers were paid $15,000 forthwith by Topaz in consideration of their services in procuring the purchase by the owner of the film. ... Additional consideration may be contingent on maintaining or achieving specified earimgs levels in future periods. When the contingency is resolved and additional consideration is distributable, the acquiring corporation should record the current fair value of the consideration issued or issuable as additional cost of the acquired company. ...

Nor is there any doubt that the consideration ($410,000) covered certain depreciable property and other undepreciable assets. ... Rather the first problem to be decided is whether the amount can be regarded as being in part the consideration for depreciable property and as being in part consideration for something else. ... If the first problem is answered in the affirmative the next problem that arises for determination is what amount of the total can reasonably be regarded as consideration for the depreciable property and what amount of the total can be reasonably regarded as consideration for something else. ...

However, on the basis of the Friedmanns’ health problems, the file was sent for consideration under the Fairness provisions of the Act ... This can occur, for example, if the Minister has taken account of irrelevant considerations, or failed to take account of relevant considerations. ... Paragraph 6(a) suggests consideration of “processing delays which result in the taxpayer not being informed, within a reasonable time, that an amount was owing.” ...

In the alternative, the plaintiff alleges that the Consideration under the Original agreement was partly for the sale of the property and partly for the plaintiff’s assistance in developing the property. ... He adds that properly to compute Brampton’s 1968 income there should have been an allocation of the consideration between the property Brampton was selling and the assistance it agreed to render. ... Judgment in favour of the plaintiff with costs. 1 *85E. (1) Where, upon or after disposing of or ceasing to carry on a business or a part of a business, a taxpayer has sold all or any part of the property that was in cluded in the inventory of the business, the property so sold shall, for the purposes of this Part, be deemed to have been sold by him (a) during the last taxation year in which he carried on the business or the part of the business, and (b) in the course of carrying on the business. 2 t85B. (1) In computing the income of a taxpayer for a taxation year, (a) every amount received in the year in the course of a business (i) that is on account of services not rendered or goods not delivered before the end of the year or that, for any other reason, may be regarded as not having been earned in the year or a previous year, or (ii) under an arrangement or understanding that it is repayable in whole or in part on the return or resale to the taxpayer of articles in or by means of which goods were delivered to a customer, shall be included; (b) every amount receivable in respect of property sold or services rendered in the course of the business in the year shall be included notwithstanding that the amount is not receivable until a subsequent year unless the method adopted by the taxpayer for computing income from the business and accepted for the pur pose of this Part does not require him to include any amount receivable in com puting his income for a taxation year unless is has been received in the year; 3 +85E (2) Where a person who has been carrying on a business has sold all or part of the property that was included in the inventory of the business (whether or not he has disposed of or ceased to carry on that business or a part of that business) to a person who has used all or part of the property so sold as inventory of a business carried on or to be carried on by the purchaser, and the amount of the consideration paid by the purchaser is, in part, consideration for the property so sold and, in part, consideration for something else, the following rules are applicable: (a) such part of the consideration as the vendor and the purchaser have, in writ ing, agreed to be the price paid for the property so sold shall be deemed, both for the purpose of computing income from the business of the vendor and for the purpose of computing income from the business of the purchaser, to be the price so paid; and (b) where an agreement as contemplated by paragraph (a) has not been filed with the Minister within 60 days after notice in writing by the Minister has been for warded to the vendor and the purchaser that such an agreement is required for the purpose of any assessment of tax under his Part, such part of the consideration paid as is fixed by the Minister shall be deemed to be the price agreed upon by them as the price paid for the property so sold. 4 *See Fridman, The Law of Contract in Canada, 1976, c 9. 5 JHalsbury’s Laws of England para 511 (4th ed 1974). 6 *See Waiver of Conditions Precedent in Contracts, Law Reform Commission of British Columbia, 1977, p 4. ...

This is not an important revenue consideration but, rather, it is an important measure to avoid constantly suing and being sued. ... One consideration may point so Clearly that it dominates other and vaguer indications in the contrary direction. ... They merely crystallise particular factors which may incline the scale in a particular case after a balance of all the considerations has been taken. ...

These investments were made while the tax account was in arrears, therefore it would indicate that you had funds to reply the tax debt outstanding, but the funds were used for other purposes. [5]                Both parties agree that the standard of review for a decision of the Minister (which has been delegated to officials of CCRA) under the Fairness Package is patent unreasonableness and can only be set aside if the decision under review was made in bad faith, if the decision-maker clearly ignored relevant facts or took into consideration irrelevant facts, or if the decision is contrary to law (see Cheng v. ... Consequently, this is not a case where the discretion should be exercised. [9]                While the Respondent's consideration would apply in most cases, I note that the CCRA did not take into consideration: i)           the fact that the Applicant is 72 years old and, given his chronic alcoholism and substance abuse, is unlikely to ever earn the amounts owed; ii)          the penalty and interest owing far exceed the tax owing; iii)          the Applicant at the hearing advised that he could borrow the money from a personal friend to pay the taxes owing, if penalty and interest were waived; and iv)         section 7(b) of the Fairness Package. [10]            Section 7(b) of the Fairness Package provides: When a taxpayer is unable to conclude a reasonable payment arrangement because the interest charges absorb a significant portion of the payments. In such a case, consideration may be given to waiving interest in all or in part for the period from when payments commence until the amounts owing are paid provided the agreed payments are made on time. [11]            These provisions seem to be directly applicable to this case. ...

He filed a notice of objection to the reassessment, but also applied for consideration under the fairness provisions, primarily on the grounds that he was unaware of the statutory deadline for claiming a capital claims exemption and had suffered health problems related to his tax debt. ... Khanna then sought judicial review of that decision with respect to the interest accrued from April 1998 to March 2001. [4]         On March 15, 2002, this Court (on consent) ordered the Minister to give a fresh and independent consideration to the request for interest relief because the person who had considered the initial fairness application had also made the original decision to deny Mr. ... He believes, however, that the accrual of interest from April 1, 1998 to March of 2001, when his first application for fairness consideration was submitted is unjustified and attributable to the Minister ' s failure to inform him in 1998 that the capital gains tax was due. ...

The amount paid by Mrs Whittaker being the consideration for the policies has become the property of the assurance company and in return for that consideration the assurance company has promised to pay annuity payments to Mrs Whittaker for her life, then to the appellant under the instalment refund guarantee clause but such annuity payments to the appellant are limited to the amount paid as consideration for the policies. ... It follows that the amount paid as consideration for the said policies does not determine what is capital in the hands of the annuitant. ...

To rebut this presumption, that the payment is to be treated as remuneration, the taxpayer must establish that the amount could not reasonably be regarded as one of three things: 6(3)(c) consideration or partial consideration for accepting the office or entering into the contract of employment; 6(3)(d) remuneration or partial remuneration for services as an officer or under the contract of employment; 6(3)(e) in consideration or partial consideration for a covenant with reference to what the officer or employee is, or is not, to do before or after the termination of the employment. ... Distinguishing this case from Phaneuf, there was no element of gift, personal bounty or of considerations extraneous to Mrs. ... But more importantly, the payment of the allowance with which I am concerned was primarily motivated by considerations extraneous to the employment, namely public and labour relations considerations. ...

They were not thresholds to be satisfied; rather, the immigration officer examined and weighed all relevant H&C considerations. ... Canada (Minister of Citizenship and Immigration), [1999] 2 SCR 817, the Supreme Court stated: 75        The certified question asks whether the best interests of children must be a primary consideration when assessing an applicant under s. 114(2) and the Regulations.  ... That is not to say that children’s best interests must always outweigh other considerations, or that there will not be other reasons for denying an H & C claim even when children’s interests are given this consideration.  ...