Search - consideration

Such determination includes a review of whether the Decision Maker reasonably exercised the discretion given to the Minister in the ITA and it their consideration of the Guidelines. [79]   Mr.  ... Consideration of the fact that the initial error was fully corrected is also clearly set out in the Decision. ... Consideration would not generally be given to cancelling a penalty based on an inability to pay or financial hardship unless an extraordinary circumstance, as described in ¶ 25 has prevented compliance. ...

Giovanni Zen bought the land from Triple H Holdings Ltd by deed of land dated June 8, 1976, in consideration of the purchase price of $126,000 (Exhibit 8). ... By a deed of land, also dated June 8, 1976, (exhibit 4), Giovanni Zen conveyed all his right, title and interest absolutely unto the plaintiff, “in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration". ...

Canada (Minister of National Revenue) (1995), 93 F.T.R. 66 at para. 10 where he said: Absent bad faith on the part of the Minister, a breach of the principles of natural justice or consideration of extraneous or irrelevant factors, there is nothing to warrant the Court's interference with the exercise of his discretion. ...   [21]            The same considerations apply in this case. There is nothing on the record to support an argument that there was a breach of natural justice by the Minister towards the Applicant. There is nothing on the record to show that there was consideration of extraneous or irrelevant factors in this case ...

With regards to the nature and purpose of the payment, the Court found that it was dictated by business considerations, it was made to satisfy a legal obligation and it could be viewed as a reimbursement of excess compensation received: "[l]t was therefore a payment in connection with a business deal relating to the land trading activities of Shefner and of East End... on the whole of the evidence, Shefner made the payment of $443,000 in the course of his land trading activities and in consequence of his carrying on that type of business. ... The second, and more important consideration, is the nature of the expenditure itself. ... Upon consideration of Ville d'Anjou's claims against East End for the excess compensation, the Quebec Superior Court pierced the corporate veil and imposed direct liability upon Mr. ...

It was, in fact and substance, part of the consideration for the initial acquisition by Com-Pakall, its payment contingent only on the sale of the specific machines. ... Then, after reciting the wish of Long and Pakall no longer to be associated with Com-Pakall and their wish to give up their rights under “the said recited Agreements”, the document, in standard form and in consideration of $20,000 paid to Long and Pakall released Karl Heinz Schwamborn and Com-Pakall from all claims, past, present or future, “arising out of the said recited Agreements or otherwise”. ... That there was valuable consideration for its prepayment did not alter its character either. ...

Those statutory provisions run as follows: 7. (1) Subject to subsection (1.1), where a corporation has agreed to sell or issue shares of the capital stock of the corporation or of a corporation with which it does not deal at arm’s length, (b) if the employee has transferred or otherwise disposed of rights under the agreement in respect of some or all of the shares to a person with whom he was dealing at arm’s length, a benefit equal to the value of the consideration for the disposition shall be deemed to have been received by the employee by virtue of his employment in the taxation year in which he made the disposition; (c) if rights of the employee under the agreement have, by one or more transactions between persons not dealing at arm’s length, become vested in a person who has acquired shares under the agreement, a benefit equal to the amount by which the value of the shares at the time that person acquired them exceeds the amount paid or to be paid to the corporation therefor by that person shall be deemed to have been received by the employee by virtue of his employment in the taxation year in which that person acquired the shares;... ... By an agreement between the Plaintiff and Clarebeau dated June 22, 1979 the Plaintiff assigned and transferred all of his rights, title and interest in the option referred to in paragraph 5 hereof to Clarebeau in consideration for the payment of $1.00 by Clarebeau to the Plaintiff. ... As a result of the agreement between the Plaintiff and Clarebeau referred to in paragraph 6 hereof and the exercise of the option referred to in paragraph 5 hereof Clarebeau acquired in the 1979 calendar year 60,000 shares in the capital stock of Nortek Energy Corp. in consideration of the payment by Clarebeau to Nortek Energy Corp. of the sum of $60,000. 8. ...

Hulbert would receive as further consideration for the licences the sum of $600,000 out of C.N.I.'s first revenues from the sale of any coal or coal products from operations of the licences. ... In consideration of the sum of SIX HUNDRED THOUSAND DOLLARS ($600,000) in Canadian Funds by certified cheques payable to each of Hulbert and De Luca respectively as follows: HULBERT — THREE HUNDRED AND SIXTY THOUSAND DOLLARS ($360,000.00) DELUCA — TWO HUNDRED AND FORTY THOUSAND DOLLARS ($240,000.00) the receipt whereof Hulbert and De Luca respectively hereby acknowledge, the Assignors hereby assign to the Assignee all of their rights, title and interest in and to the May, 1969 Agreement, including all rights of action or other rights accruing to them, or which might hereafter accrue to them under the said May, 1969 Agreement. ... The plaintiff disposed of the coal licences in May 1969 but retained a right or interest in the said licences, namely the right to receive proceeds of disposition in respect of a disposition as set out in subparagraph 66(15)(c)(vii) of the Income Tax Act and that the plaintiff continued to retain this interest until September 19, 1977 at which time the plaintiff assigned that right to The Crow's Nest Pass Oil and Gas Company, Limited in consideration for the sum of $240,000. ...

It seems that if the amount expressed as the consideration had been expressed in dollars, independent of royalties for user, it would then be treated as capital. I hold part of the consideration for the licensing agreement represented something over and above royalties for user, which is supported by Mr Swann’s evidence, and the terms of the agreement, although it does lack something in drafting. ... After careful consideration I am prepared to agree with this submission which I think does not contravene the principle outlined in Lackie or conflict with it, as it can be distinguished in the special circumstances in this case finding as I do that it was the sale of an asset, with the price calculated partly as royalties. ...

Jus- tice Walsh found against the taxpayer on the grounds that the subsequent reassessment, which purported to fix the taxpayer's total tax for the taxation year under consideration and was not an “additional” assessment, having replaced and annulled the earlier assessments precluded the taxpayer from continuing her appeal from her prior assessment. ... The January 6, 1984 reassessments reclassified one of the plaintiffs assets so that the capital cost allowance claimed by the plaintiff for the taxation years under consideration was reduced and the plaintiff’s taxable income increased. ... Those notices, it will be recalled, were issued as a result of the application of an uncontested tax credit available to the plaintiff should it elect to have it applied to its taxable income in the taxation years under consideration. ...

It was decided, by an agreement dated April 2, 1964, that the plaintiffs would acquire the shareholdings of the Newfoundland group in Paving in consideration for the plaintiffs assuming all debts, including personal guarantees, to the exoneration of the Newfoundland group. lt was also agreed that the book debts owing by Paving to J Goodyear & Sons Ltd and Goodyear Construction Co Ltd, two companies controlled by the Newfoundland group, be assigned to the plaintiffs, debts totalling $620,633.13 for an aggregate consideration of $70,000. ... The consideration prompting the transaction may be of such a nature as fo invest it with the character of an adventure, even if there was no intention of making a profit in the first place. ...