Search - consideration

Amounts in part consideration for position of property.—Where an amount can reasonably be regarded as being in part the consideration for the disposition of any property of a taxpayer 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 proceeds of disposition of that property irrespective of the form or legal effect of the contract or agreement; and the person to whom the property was disposed of shall be deemed to have acquired the property at the same part of that amount. ... He acknowledged that when the purchaser proposed the breakdown contained in the interim agreement amendment, he gave extensive consideration to the effect of any counter-proposal on his part and concluded that it might put the transaction at risk. ...

Subsequent to the filing of the statement of defence certain documents incidental to the transfer of the property were eventually produced, such as a chattel mortgage and a promissory note as a consideration for a sale. ... Under section 3 section 2 (which provides that a conveyance made to defeat creditord is void as against such persons and their assigns) does not apply to property conveyed upon good consideration and bona fide to a person without knowledge at the time of the conveyance of the intention to defraud. Thus where a conveyance is made upon good consideration the onus is to show the fraudulent intent of both parties to the conveyance. ...

The plaintiff’s position is that that entire amount was paid as consideration for the trucks. The defendant’s position is that only $57,722 was consideration for the trucks and that the: balance was consideration for something other than property. ... Where an amount can reasonably be regarded as being in part the consideration for the disposition of any property of a taxpayer 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 proceeds of disposition of that property irrespective of the form or legal effect of the contract or agreement; and the person to whom the property was disposed of shall be deemed to have acquired the property at the same part of that amount. ...

Katzenback (the difference between the total non-share consideration identified in the Notice of Objection and the total non-share consideration listed on the New T2059). [29]            Ms. ... Katzenback asked for evidence explaining the discrepancy between the non-share consideration listed on the New T2059 and the non-share consideration in the Notice of Objection, R&S was unable to provide any evidence whatsoever. ... However, the Respondent’s interpretation would also require that the non-share consideration for any asset adhere to the terms of the Transfer Agreement – which fixed that non-share consideration to the cost amount of each asset in question. ...

The dispute centres on the consideration allocated by the appellant to Class 8 and Class 10 items as above indicated. ... 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. ... In my view the crux of the issue between the parties is what was a reasonable consideration for the depreciable property. ...

In any event, the submissions of the applicant in this case do not change my view that the Minister had given consideration to relevant matters, that is, the information presented by the applicant upon his initial request to the Minister for waiver of the outstanding interest. ... Minister of National Revenue, supra, where he says: 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. [13]      The same considerations apply in this case. ... There is nothing on the record to show that there was consideration of extraneous or irrelevant factors in this case. [14]      For the foregoing reasons, the application is dismissed.                          ...

On May 28, 2013, the applicant filed an application for an exemption from the obligation to obtain a permanent resident visa from outside Canada based on humanitarian and compassionate considerations. ... In this case, the applicant submits that the immigration officer only examined the issue of whether she should grant or refuse an exemption for humanitarian and compassionate considerations based on the criteria set out above. ... The caselaw of this Court is consistent that an interview is not required to ensure procedural fairness in processing applications for visa exemptions for humanitarian considerations (see, for example Cheema (Litigation Guardian) v. ...

Then in Black's Law Dictionary, revised 4th ed, 1968, West Publishing Co, 817 at 818 “gift” is defined as: A voluntary transfer of personal property without consideration. and: A parting by owner with property without pecuniary consideration.... ... A transfer of property in a thing, voluntarily and without any valuable consideration.... ... In all of those cases, the claim for gift was disallowed because of the presence of consideration for the payment. ...

In my view, that is a relevant consideration. That is not to suggest that the taxpayer’s current circumstances are irrelevant. But it is to say, that all of his circumstances are relevant to the matter under consideration. [15] Mr. ... [emphasis added] [18] The proportion of interest accrued to the underlying tax debt is not a stand alone consideration. [19] Unlike Mr. ...

The following provisions of the Income Tax Act are in play: 5. (1)... a taxpayer’s income for a taxation year from an office or employment is the salary, wages and other remuneration, including gratuities, received by him in the year. 6. (3) An amount received by one person from another (a) during a period while the payee was an officer of, or in the employment of, the payer, or (b) On account or in lieu of payment of, or in satisfaction of, an obligation arising out of an agreement made by the payer with the payee immediately prior to, during or immediately after a period that the payee was an officer of, or in the employment of, the payer, shall be deemed, for the purposes of section 5, to be remuneration for the payee’s services rendered as an officer or during the period of employment, unless it is established that, irrespective of when the agreement, if any, under which the amount was received was made or the form or legal effect thereof, it cannot reasonably be regarded as having been received (c) as consideration or partial consideration for accepting the office or entering into the contract of employment, (d) as remuneration or partial remuneration for services as an officer or under the contract of employment, or (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. 56. (1) Without restricting the generality of section 3, there shall be included in computing the income of a taxpayer for a taxation year, (a) any amount received in the year as, on account of or in lieu of payment of, or in satisfaction of, (ii) a retiring allowance, (viii) a termination payment; 248. (1) In this Act “retiring allowance” means an amount received upon or after retirement from an office or employment in recognition of long service or in respect of loss of office or employment (other than a superannuation or pension benefit), whether the recipient is the officer of employee or a dependant, relation or legal representative; “termination payment” for a taxation year means an amount equal to the lesser of (a) the aggregate of all amounts each of which is an amount received in the year in respect of a termination of an office or employment, whether or not received pursuant to an order or judgment of a competent tribunal, other than (i) an amount required by any provision of this Act (other than subparagraph 56(1)(a)(viii)) to be included in computing the income of a taxpayer for a year, (b) the amount by which 50% of the aggregate of all amounts each of which is the amount that may reasonably be considered to be the employee’s salary, wages and other remuneration from an office or employment for the 12 months preceding the date that is the earlier of (i) the date on which the office or employment was terminated, and (ii) the date on which an agreement, if any, in respect of the termination was entered into exceeds the amount determined under paragraph (a) for each previous year in respect of that termination whether the recipient is the officer or employee whose office or employment was terminated or a dependant, relation or legal representative of the officer or employee; I do not accept the plaintiff’s thesis that this was, in fact, a $25,000 lump sum settlement of a right of action for dismissal without reasonable notice. ... While it was an amount within paragraph (a), it cannot reasonably be regarded as having been received as consideration for any of the things enumerated in paragraphs (c), (d) or (e) thereof. ...