Search - consideration

X for cash consideration by a purchaser corporation (the “Parent”). Target is then wound up and the Parent wishes to “bump” the shares of Newco acquired on the wind-up. ... Newco will acquire the Property from Target during the course of the preliminary transactions, and will issue shares to Target in consideration for those assets. ... Issue You request our confirmation that, for purposes of clause 88(1)(c)(vi)(B) of the Act, the Property transferred to Newco by Target would not be property acquired by Newco in substitution for the Newco shares issued to Target in consideration for such property. ...

The Plaintiff alleged in the claim that the Defendant issued malicious and false opinions which resulted in the Plaintiff being eliminated from consideration for employment by another group of employers. ... The most common considerations can be the extent that a settlement can be regarded as being in the nature of employment income or a retiring allowance, which are taxable, or non-taxable personal damages. ... However, as indicated above, the reasonableness of an allocation within a settlement is also a consideration. ...

The consideration paid to Vendor includes cash and treasury shares of Canco. ... In the context of a winding-up, you have indicated that Canco would be entitled to bump the cost of any eligible property of Targetco since the shares of Canco issued to the vendor as consideration for the Targetco shares would not be substituted property within the meaning of proposed paragraph 88(1)(c.3) by virtue of the exception for parent company shares found in subparagraph 88(1)(c.3)(i). ... Your concern is based on the premise that, for the purposes of proposed paragraph 88(1)(c.3), the shares of Amalco which are acquired by Vendor on the amalgamation will be wholly or partly attributable to the bumped property and since Amalco is a new corporation these shares will not qualify for the exception for parent company shares paid as consideration for the shares of the subsidiary. ...

An exception to this rule occurs where fair market value consideration is paid by the spouse. A transfer for fair market value consideration is not considered to have taken place for purposes of the Act unless a number of conditions are met. As noted in paragraph 21 of Interpretation Bulletin IT-511R we state: "Pursuant to subsection 74.5(1), income or loss from transferred property or any taxable capital gains or allowable capital losses on the disposition of the transferred property does not attribute to the transferor in a particular year where (a)the sale or other transfer is made to the transferor's spouse for consideration equal to fair market value of the transferred property, (b)the sale price or other consideration for the transfer is (i)fully paid by the transferee in cash or kind (and not from property furnished by the transferor) or (ii)satisfied in whole or in part by indebtedness on which interest is charged at a rate not less than the lesser (A)the prescribed rate and (B)the rate that would be agreed upon between arm's length parties under similar circumstances at the time the indebtedness is incurred, if all such interest is paid no later than 30 days after the end of each calendar year in which it becomes payable, and (c)the transferor elects not to have the provisions of subsection 73(1) apply (i.e. any gains or loss is realized at the time of transfer). ...

Therefore we have referred the problem to the Department of Finance for their future consideration. ... A disposition of the old options will occur and the new options will be received as consideration. ... In consequence, we have referred the problem to the Department of Finance for their future consideration. ...

The following is a summary of the relevant considerations regarding this exemption: In order to qualify as the principal residence of a taxpayer for a taxation year, a housing unit, including a cottage, must have been “ordinarily inhabited” in the year by the taxpayer, the taxpayer’s spouse or former spouse, or the taxpayer’s child. ... With respect to the latter issue, personal factors may also come into consideration that would look beyond pure economics. ... In the event that it is decided not to claim the principal residence exemption in respect of the sale of the cottage, another consideration is whether a capital gains reserve can be claimed. ...

X for cash consideration by a purchaser corporation (the “Parent”). Target is then wound up and the Parent wishes to “bump” the shares of Newco acquired on the wind-up. ... Newco will acquire the Property from Target during the course of the preliminary transactions, and will issue shares to Target in consideration for those assets. ... Issue You request our confirmation that, for purposes of clause 88(1)(c)(vi)(B) of the Act, the Property transferred to Newco by Target would not be property acquired by Newco in substitution for the Newco shares issued to Target in consideration for such property. ...

The Plaintiff alleged in the claim that the Defendant issued malicious and false opinions which resulted in the Plaintiff being eliminated from consideration for employment by another group of employers. ... The most common considerations can be the extent that a settlement can be regarded as being in the nature of employment income or a retiring allowance, which are taxable, or non-taxable personal damages. ... However, as indicated above, the reasonableness of an allocation within a settlement is also a consideration. ...

When a taxpayer disposes of both depreciable and non-depreciable property for a lump sum, the part of the consideration which can reasonably be regarded as being consideration for the depreciable property will be deemed to be its proceeds of disposition. However, whether the consideration for the depreciable property is "reasonable" is a question of fact, and in order to make such a determination, it is necessary to review all the facts surrounding a particular situation. ... However, where the total sale price does not exceed the fair market value of comparable land, it may be reasonable to conclude that the sale was essentially one of land and that the price was in consideration only of land. ...

In exchange for their shares of XYCo, X receives only shares of Amalco and Y receives a nominal amount of shares of Amalco and non-share consideration. ... The provisions of subsection 87(4) of the Act will not apply to Y since Y received consideration other than shares of Amalco. ... In exchange for their shares of XYCo, X and Holdco receive only shares of Amalco and Y receives a nominal amount of shares of Amalco and non-share consideration. ...