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In other words, the amount or value of the benefit conferred where corporate owned property is made available to a shareholder would generally be considered to be equal to the fair market rental of that property less any consideration paid by that shareholder with regard to the property. As noted in that response, however, where this approach is not appropriate for measuring the value of the benefit, i.e., if it does not provide a reasonable return on the cost or value of the property, the benefit would generally be determined with reference to a normal rate of return on the greater of the cost or fair market value of the property, plus any related operating costs but reduced by any consideration paid by that shareholder with regard to the property. ...

17 December 1993 External T.I. 9318045 F- Payments for Client Referrals Unedited CRA Tags 9(1), 5(1) XXXXXXXXXX Dear XXXXXXXXXX RE:  Real Estate Sales This is in reply to your letter received on May 12, 1993 in which you asked us for our comments on the tax consequences where cash or other form of consideration is provided to a person by a real estate agent in relation to a real estate purchase or sale. ... Our Comments: Whether or not an amount (including the value of any non-cash consideration) received by a taxpayer is to be included in that taxpayer's income will depend upon whether the amount represents a source of income to the taxpayer. ...

In a typical situation, where a business is sold and the purchaser assumes the vendor's liabilities as part of the consideration for the assets acquired, the liabilities assumed would form part of the cost to the purchaser of the assets. By comparison, where a business is sold and contingent liabilities of the vendor are assumed by the purchaser as part of the consideration of the sale price, it is the Department's position that there is neither a deduction to the vendor nor a cost of acquisition to the purchaser in respect of the contingent liabilities assumed. ...

Reasons FOR POSITION TAKEN: The considerations are paragraphs 118.2(2)(a) and (o). ... In relation to your concern, the consideration is whether payments made to an electrologist qualify under paragraph 118.2(2)(a) of the Income Tax Act (the Act). ...

When a requested interpretation relates to a completed transaction, it should be referred to the taxpayer's local tax services office for their consideration. ... The determination of income will include consideration of whether the amount received or receivable has the quality of income, for example, whether the contractor's right to it is absolute and under no restriction, contractual or otherwise, as to its disposition, use or enjoyment. ...

A gift for purposes of sections 110.1 and 118.1 of the Income Tax Act (the "Act") is a voluntary transfer of property without valuable consideration. ... No valuable consideration or any benefit of any kind to the donor or to anyone designated by the donor may result from the transfer. ...

Position: The difference between the consideration received and FMV is considered a benefit to the RRSP annuitant. ... If a mortgage, or any RRSP asset, is disposed of for less than its FMV, subsection 146(9) of the Income Tax Act will require that an amount equal to the difference between the consideration received and the FMV be included in the RRSP annuitant's income for the year. ...

" In considering whether an interest rate is reasonable or not, consideration will be given to comparable prevailing market rates for similar market risks with similar terms, and the existence of any issue premiums. ...

Subsection 146(9) of the Income Tax Act provides that if property is sold by an RRSP trust for consideration that is less than the fair market value of the property at the time of the sale, the difference between the consideration and the fair market value shall be included in the income of the annuitant in the year. ...

The Oxford English Dictionary defines a sale as an "exchange of a commodity for money or other consideration". Similarly, Black's Law Dictionary refers to a "transfer of property... for consideration". ...