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15 October 2009 Internal T.I. 2009-0314641I7- Tax Considerations in an International Insolvency Unedited CRA Tags s. 20(1)(c), 111(1), 128(1)(d) ITA s. 150(1)(a), 152(4), 152(7) ITA s. 4.1, 121(1) BIA s. 11, 12, 18.6 CCAA Principal Issues: 1. ... October 15, 2009 XXXXXXXXXX Tax Services Office HEADQUARTERS Audit Division Lindsay Frank Attention: XXXXXXXXXX (613) 948-222 Large File Case Manager 2009-031464 Tax Considerations in an International Insolvency This is in reply to an email from XXXXXXXXXX concerning tax matters related to the insolvency of XXXXXXXXXX On XXXXXXXXXX filed a petition for relief, pursuant to Chapter 11 of the United States Bankruptcy Code ("Chapter 11 Proceedings"). ...

The amount of the transferee's liability is equal to the lesser of the fair market value of the property transferred less the consideration paid, and the transferor's total tax liability owing in the year of the transfer or any preceding year. ... In order to succeed, the spouse must produce evidence that she gave consideration for the transfer of the residential property. ... On the other hand, were the wife to produce evidence of consideration paid, the value of that consideration would require a formal valuation of the increase in the value of the shares.Should you have any questions or require additional information, please do not hesitate to telephone Richard Aronoff at the number provided above. ...

26 October 1990 Internal T.I. 90M11357 F- Loan Guarantee from Non-resident for No Consideration Unedited CRA Tags n/a CTF- 1990 Conference Report QUESTION I 69 Withholding Tax- Dividends Paragraph 2(a) of Article X of the Canada-U.S. ...

9 February 1990 Internal T.I. 59439 F- Inadequate Consideration- Redemption of Shares Unedited CRA Tags 69(1)(b), 84(3) 19(1) File No. 5-9439   S. ...

21 June 1994 Internal T.I. 9408087- TIMING CONSIDERATION TO A HOME RELOCATION LOAN Unedited CRA Tags 110(1)(j) Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department. ...

Consideration Black's Law Dictionary defines consideration, in part, as follows. ... Thus, in a contract of sale, the money paid or agreed to be paid by the purchaser is the consideration to the vendor, and the property sold is the consideration to the purchaser. ... It is thus our opinion that these loan elements would not constitute consideration. ...

Other Considerations The advantage rules do not appear to have any application to the specific type of transfer that you raise in your letter (i.e. a transfer of property from an RRSP to an IPP in accordance with paragraph 146(16)(a)), but could conceivably apply in other situations where individuals effect transactions between their RRSP and an IPP. ...

Other Considerations A) The determination of whether a benefit is received by an employee-shareholder in his/her capacity as an employee or as a shareholder involves a finding of fact. ...

Canadian Resource Property Considerations First of all, it has been the long-standing view of the Department/Agency that an interest in a partnership, the underlying property of which is a Canadian resource property (as defined in subsection 66(15) of the Act), is not a Canadian resource property itself (1). ...

In determining the value of benefit, one may take its cost into consideration. ... Considération des dépenses de la société pour déterminer la valeur d'un avantage imposable Évaluation de l'avantage imposable en fonction des frais de fonctionnement et de la DPA 68. ... Les considérations du juge nous amènent à conclure qu'une méthode d'évaluation de la valeur d'un avantage fondée sur les frais de fonctionnement et la DPA peut être adéquate dans certaines circonstances pourvu qu'elle se rapproche de la JVM. ...