Search - consideration

On the other hand, the defendant contended that the amount of $227,000 was paid to the plaintiff in consideration of the value of the works that had been completed, of the works that remained to be done, and also for a share of future profits; thus, it maintained that this amount is part of plaintiff's earnings for its 1978 taxation year under the provisions of sections 3 and 9 of the Income Tax Act. ... Inland Revenue (1938), 21 T.C. 608 at 619:.. no infallible criterion emerges from a consideration of the case law. ... For these reasons, in consideration of the special circumstances of the case at bar, I conclude that the plaintiff failed to prove that the sum of $227,000 paid by KBR would have been to compensate the sterilization of a major portion of its business. ...

This was characterized as an agreement by the Provincial Executive on behalf of the union to pay the defendant and his co-workers an amount of money in consideration of their going out on strike in support of the strike of the Public Service Bargaining Unit. ... What was merely an arrangement or unenforceable agreement between the S.G.E.U. and the Liquor Board Employees Agreement Group, once made and communicated to the employees themselves, became an offer to pay in consideration of a service rendered. ... The Curran decision involved the payment of some $250,000 in consideration of the taxpayer resigning from one company and accepting employment with a firm in which the payor was interested. ...

The applicant further alleges that the prohibition against transferability of goods that would otherwise qualify for remission of duty is an irrelevant and extraneous consideration that is inconsistent with the statutory intent of the Machinery program. ... Le Dain J. dealt with this question at some length and said, at p. 513: The Minister may validly and properly indicate the kind of considerations by which he will be guided as a general rule in the exercise of his discretion (see British Oxygen Co. ... Where the statutory discretion has been exercised in good faith and, where required, in accordance with the principles of natural justice, and where reliance has not been placed upon considerations irrelevant or extraneous to the statutory purpose, the courts should not interfere. ...

Bonnybrook argued that the Minister’s Delegate gave “scant consideration” to the medical evidence and submissions that had been filed. ... Armbrust had filed her personal and trust tax returns on time during the same period and made “multiple payroll remittances and filed T4 slips and summaries for the 2003 to 2010 and 2012 years on time.” [22] Bonnybrook argued that consideration of Ms. ... It has not explained how the interpretation was not consistent with the text, context or purpose of the provisions at issue or whether the Minister’s Delegate’s interpretation omitted from consideration a central aspect of a proper statutory interpretation exercise (Vavilov at para 120). ...

Paragraph 20(6)(g) of the Income Tax Act at the relevant time read as follows: 20. (6) For the purpose of this section and regulations made under paragraph (a) of subsection (1) of section 11, the following rules apply: (g) where an amount can reasonably be regarded as being in part the consideration for disposition of depreciable property of a taxpayer of a prescribed class and as being in part consideration for something else, the part of the amount that can reasonably be regarded as being the consideration for such disposition shall be deemed to be the proceeds of disposition of depreciable property of that class irrespective of the form or legal effect of the contract or agreement; and the person to whom the depreciable property was disposed of shall be deemed to have acquired the property at a capital cost to him equal to the same part of that amount; and Subparagraph 20(5)(c)(ii) of the Act at the relevant time read as follows: 20. (5) In this section and regulations made under paragraph (a) of subsection (1) of section 11, (c) “proceeds of disposition” of property include, (ii) compensation for property damaged, destroyed, taken or injuriously affected, either lawfully or unlawfully, or under statutory authority or otherwise, lt was submitted by the defendant that the proceeds of this disposition did include some compensation for the buildings that were taken down prior to the closing of the sale of the property in 1964. ... In bargaining at arm’s length for the total consideration for this property, in my view, the purchaser had in mind only how low a unit cost of land per apartment unit could obtain. ...

(a) In consideration of the payment of the said annual premium, and when claim is established in the manner hereinafter provided, in respect of any operating year, the Corporation shall pay to the Builder the amount by which the gross rentals are less than the insured rentals. ... After negotiations, which do not form part of and are not mentioned in the agreement and therefore should not, when interpreting the agreement, be taken into consideration, the agreement itself was signed. ... These are the only considerations for the payment of the $105,000 flowing from the plaintiff to the defendants [sic] to be found anywhere in this agreement or any of its incorporated documents. ...

He pointed out that at the time of incorporation of the Airport company, there were serious prospects that a loss would be sustained in the operation of the Airport bookstore and if tax considerations had been the guiding ones, it would have been more prudent not to incorporate the Airport company. ... I am quite prepared to accept the evidence of the Melzacks that the desire to protect their main stores from the effects of losing the airport venture was an important consideration in incorporating the airport business. ... The onus of establishing that the sole main reason was that of a business consideration falls upon the appellant. ...

The authorized capital of the Appellant consists of 50,000 common shares (no par value), the aggregate consideration not to exceed $50,000.00, and 3,000 5% non-cumulative, redeemable, preferred shares having a par value of $10.00 each. 3. ... In all plans under consideration in the Inland Industries case (supra), the Western Smallware case (supra) and the Goldberg Bros case (supra) there were specific provisions to the effect that the obligations of the trustees were to purchase pensions to the extent that funds in the plans permitted. ... By paragraph 139(1)(ahh) a registered pension plan means one that has been accepted by the Minister for registration for the purposes of the Income Tax Act in respect of its constitution and operations for the taxation year under consideration. ...

In reaching the conclusion that Mrs Papp did not give any consideration for the assignment, Thorson, P stated at page 131 [5076]: The assumption that she undertook to pay the premiums on the policy of insurance after it was assigned to her on October 22, 1959, is unwarranted. ... I find, therefore, that Mae Ritter Papp did not give any consideration to the Company or her husband for the assignment. ... I can, however, see no way of avoiding this situation if it is accepted, as was done in the Papp case (supra), that the policy transferred was a chose in action, even if it had no ascertainable monetary value which could justify the selling of same for a consideration to the transferee so as to avoid the transfer being considered as a gift within the meaning of the Act. ...

The appellant purchased 50% of the common shares in Holdings for a consideration of $500 and the Traders Group purchased the remaining 50% of the common shares for an equal consideration. Traders Group subscribed for 200,000 preference shares of Holdings for a consideration of $200,000. ... In short Traders Group would put up the money for which it would receive a 50% interest in Frankel through the interposition of Holdings and the appellant would also receive a 50% interest in Frankel in consideration of him having put the package deal together, but the appellant would advance no money towards the furtherance of the acquisition of Frankel. ...