Search - consideration

The Queen, 95 DTC 5253, [1995] 1 CTC 447 (FCTD)-- summary under Subsection 55(2) Summary Under Tax Topics- Income Tax Act- Section 55- Subsection 55(2) s. 55(2) did not apply as purpose was creditor-proofing regarding a law suit The two individual shareholders (Lamothe as to 99% and his wife as to 1%) of a corporation operating a machine shop ("Clem Industrial") transferred all their shares of Clem Industrial to the taxpayer (which was a newly-incorporated holding company) in consideration for high-low shares of the taxpayer. They then caused Clem Industrial to pay a large dividend (virtually equal to the fair market value of its outstanding shares) to the taxpayer, which then lent the proceeds back to Clem Industrial in consideration for a demand debenture. ...

…[T]he record demonstrates no consideration or weighing at all of the Applicant’s submissions as to the effect upon it, and its ability to pay its HST liability, that would result from its request being refused. The failure to consider these factors may be attributable to the [User Guide – Re-appropriation of T2 Statute-barred Credits] Guidelines’ emphasis on consideration of whether there were extraordinary circumstances which prevented the filing of returns within three years from the applicable tax year end. ...

The Queen, 82 DTC 6045, [1982] CTC 30 (FCTD)-- summary under Evidence Summary Under Tax Topics- General Concepts- Evidence Statements in tax returns that "were not made inadvertently but only made following due consideration and professional advice... constitute statements against interest. ...

The bulk of the total consideration was allocated to the building. ...

The Queen, 82 DTC 6311, [1981] CTC 421 (FCTD)-- summary under Subsection 174(3) Summary Under Tax Topics- Income Tax Act- Section 174- Subsection 174(3) Notwithstanding the desire of counsel both for the taxpayer and the Crown to limit discussion to the narrow question before the Court, the Court is entitled "to widen the discussion sufficiently to embrace the true nature of the transaction [under consideration] and the circumstances surrounding it". ...

The Queen, [1980] CTC 57, 80 DTC 6009 (FCTD), aff'd 81 DTC 5115, [1981] CTC 162 (FCA)-- summary under Comparison of Provisions Summary Under Tax Topics- Statutory Interpretation- Comparison of Provisions The Court was affected by the consideration that "it is more consistent that the same measure be applicable to subparagraphs (a) and (b) of section 126(1), than to have two different methods of calculating tax credits in the same section". ...

The Queen, 84 DTC 6494, [1984] CTC 466 (FCTD), rev'd 85 DTC 5433, [1985] 2CTC 214 (FCA)-- summary under Paragraph 60(f) Summary Under Tax Topics- Income Tax Act- Section 60- Paragraph 60(f) A tuition fee was defined as "the monetary consideration (money or, money's worth of goods or services) payable to a pedagogue or school authority for enrolling a pupil or student in an instructional, training or educational lecture or course of lectures. ...

The Queen, 86 DTC 6322, [1986] 2 CTC 71 (FCTD)-- summary under Subparagraph 40(1)(a)(iii) Summary Under Tax Topics- Income Tax Act- Section 40- Subsection 40(1)- Paragraph 40(1)(a)- Subparagraph 40(1)(a)(iii) The reserve was not available in respect of a demand promissory note received by the vendors as partial consideration for the sale of shares of a family farm corporation, notwithstanding that the shares were held subject to an escrow agreement until the promissory note was paid off. ...

The residuum thereby allocated to the bare land was small: $60,000 out of a total consideration of $230,000. ...

Minister of National Revenue, 97 DTC 5041, [1997] 2 CTC 143 (FCTD)-- summary under Subsection 220(3.1) Summary Under Tax Topics- Income Tax Act- Section 220- Subsection 220(3.1) The Minister was directed to reconsider the request of the taxpayer for waiver of interest given that no consideration had been given to: her to pay the amounts in question; the delay of Revenue Canada in reassessing her return; and her history of compliance with her tax obligations. ...