Search - consideration

Such a distribution, being an action taken by the trustee in response to fiduciary duty, is one for which consideration cannot be exacted except in accordance with a provision in the trust deed. ... The Appellant's father demanded and received consideration as provided in the form of the deed of release and disclaimer. ... It formed part of the consideration for the payment to the Appellant of the money. ...

As consideration under the contract, the proprietor agrees to pay the administrator an amount equal to the amount reimbursed plus 10% of such amount. ... According to paragraph 3 of Interpretation Bulletin IT-339R2, Meaning of "Private Health Services Plan," it is the Department's position that the plan must be in the nature of insurance and contain the following basic elements: (a) an undertaking by one person, (b) to indemnify another person, (c) for an agreed consideration, (d) from a loss or liability in respect of an event, (e) the happening of which is uncertain. In our view, a plan that consists of a contract between a proprietor and an administrator, under which the administrator agrees to reimburse the proprietor, his spouse and members of his household for actual medical and hospital expenses and receives, as consideration, an amount equal to the amount reimbursed plus an administrative fee, does not qualify as a PHSP, since it does not contain the necessary elements of insurance. ...

Position: No, provided that the sale takes place before the coming into force of subsections 17(2) and 17(3) and provided that the shares are sold at fair market value for cash consideration. ... In the situation outlined above, it is important to know what is the consideration paid by Parentco to Canco for the shares of Finco. For example, if the consideration is an amount payable by Parentco to Canco, subsections 15(2) and 17(1) of the Act may apply depending on the circumstances. ...

However, the terms of the buy-sell agreement, the manner in which the buy-out is to be effected, and other relevant factual considerations may bring non-related parties into a non-arm's-length relationship.  ... For instance, one would also have to take into consideration whether, in entering the buy-sell agreement, the parties involved have their own independent interests in mind.  ... Such a determination requires a thorough review and consideration of all the facts and circumstances of a particular situation. ...

In the case now under consideration by you it is essentially a question of fact as to whether the employer carried on one of the specified kinds of businesses in the United States and as to whether the employee performed all or substantially all the duties of his employment in the United States in connection with a contract under which his employer carried on such business. ... In the case under consideration there may also be some question as to whether the individuals are employees of 24(1) We are uncertain what is meant by your reference to "The individuals are transferred to the 24(1) payroll. ... A determination of which company is the employer cannot be based solely on which company pays the salary and indeed in making this determination considerations such as who controls and directs the employee and who the employee reports to are generally more important. for DirectorReorganizations and Non-Resident DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch ...

Upon further consideration we are not able to confirm this opinion, but would offer the following alternative comments. ... The borrower, however, is considered to have acquired the shares and the consideration paid to the lender is the obligation of the borrower to deliver identical shares to the lender at some time in the future. While a question of fact, it is arguable that the value of this consideration is equal to the fair market value at that time of the shares acquired. ...

No, but the PBC cannot renounce CEE or CDE in excess of the consideration received from the flow-through shareholders for the flow-through shares. ... The amount of renounced expenses cannot be less than the consideration paid for the particular shares or rights to be issued under the agreement. ... However, the PBC's taxable capital employed in Canada at the time the consideration for the shares was given must not be more than $15 million. ...

Reasons: Having given consideration to the purpose of the Branch Tax and noting that a non-resident corporation that is a member of a top-tier partnership would be subject to Branch Tax in respect of its share of taxable income earned through a lower-tier partnership, it is reasonable to consider that the corporation will also be considered to be a member of a lower-tier partnership for the purpose of subsection 808(4) of the Regulations. ... Noting that the non-resident corporate partner would be subject to tax under Part XIV of the Act (“Branch Tax”) in respect of its share of taxable income earned through Partnership B, you asked whether it could look through Partnership A to take into consideration Partnership B’s properties when calculating its Allowance as provided for in paragraph 219(1)(j) of the Act and prescribed by section 808 of the Income Tax Regulations (the “Regulations”). ... In the scenario you presented, the non-resident corporate partner may, when calculating its Allowance as provided for in paragraph 219(1)(j) of the Act and as prescribed by section 808 of the Regulations, “look through” Partnership A to take into consideration Partnership B’s properties. ...

Our response below does not take into consideration the consequences, if any, of draft legislation including legislative proposals dated February 27, 2004, issued by the Department of Finance. ... The consideration paid by the borrower is in the form of a right provided to the lender to reacquire an equal number of identical securities for no consideration other than the extinguishment of the right. ... When the right to acquire securities given by the borrower to the lender is settled, the borrower will purchase from a third party the number of securities it originally borrowed (the "new securities") and dispose of them to the lender in consideration for the settlement of its obligation under the right. ...

In consideration for this transfer, Spouse B transfers property #2 with an ACB of $200 a FMV of $400 to Spouse A (transfer #2). ... Transfer #3 On the transfer of property #2 by Spouse A to her corporation, the shares and any other consideration (the "consideration") that Spouse A received on the transfer would be "property substituted" for property #2 and subsection 74.1(1) of the Act and subsection 74.1(2) of the Act would apply to attribute the income, capital gains, etc. relating to the consideration to Spouse B. ...