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Department's Position As indicated in paragraph 7 of Interpretation Bulletin IT-436R, it is generally our view that where a vendor disposes of a noted receivable from a purchaser of a capital property to a third party in consideration for a promissory note of that third party, a capital gains reserve under subparagraph 40(1)(a)(iii) is no longer available because there is no longer anything due to the vendor from the purchaser in the original transaction. ...

Nous vous transmettons donc leur demande, afin que vous la preniez en considération. ...

" Black's Law Dictionary similarly defines "rent" to be "consideration paid, usu. periodically, for the use or occupancy of property (esp. real property)." The Residential Tenancies Act, 2006 (Ontario) states that "rent" includes, " the amount of any consideration paid or given or required to be paid or given by or on behalf of a tenant to a landlord or the landlord's agent for the right to occupy a rental unit and for any services and facilities and any privilege, accommodation or thing that the landlord provides for the tenant in respect of the occupancy of the rental unit, whether or not a separate charge is made for services and facilities or for the privilege, accommodation or thing..." Based on the ordinary meaning of this term, it is reasonable to conclude that a person who provides monetary consideration to another person for the use of, or right to occupy, a rental unit, residential property, or similar premises, for a period of time would be paying rent. ...

Accordingly, when determining a reduced withholding amount under subsection 153(1.1), no consideration can be given to the reduction of the pensioner taxpayer’s Part I income that results from the joint election under section 60.03 of the Act or the impact of the deeming provision under subsection 153(2) of the Act. ... Since subsection 153(1.3) of the Act applies such that, no consideration can be given to the reduction of the pensioner taxpayer’s Part I income that results from the joint election under section 60.03 of the Act, it would follow that a similar outcome would result for purposes of withholding under Part I.2 of the Act. Accordingly, no consideration can be given to the joint election under section 60.03 of the Act for purposes of determining a reduced withholding amount in respect of Part I.2 tax. ...

-No, the meaning of capital property does not include an eligible capital property Reasons: The respective definition of each term in subsection 248(1) and section 54 of the Act, taking into consideration the definitions of all other relevant terms that are applicable as well as published Departmental positions. ... The term "eligible capital property" of a taxpayer is defined in section 54 of the Act to mean: "any property, a part of the consideration for the disposition of which would, if the taxpayer disposed of the property, be an eligible capital amount in respect of a business" Subsection 14(1) reads in part: "...an amount determined in respect of a taxpayer, for E in the definition of "cumulative eligible capital" in subsection (5) (in this section referred to as an "eligible capital amount")..." "E" of the definition of "cumulative eligible capital" in subsection 14(5) is: "...an amount which, as a result of a disposition..., the taxpayer has or may become entitled to receive, in respect of the business carried on or formerly carried on by the taxpayer therefor was such that, if any payment had been made by the taxpayer after 1971 for that consideration, would have been an eligible capital expenditure of the taxpayer in respect of that business... ...

In such cases, the services are rendered primarily for the benefit of the employer and the payments represent consideration for the services, usually based on the time spent providing the services or the value or volume of these services. ... Fellowship awards are made on the basis of the demonstrated merit and potential of the applicant, taking into consideration the applicant's academic record, research ability, and references.? ... While the Document is by no means a substitute for the actual terms and conditions of the arrangement with the Payee, the general guidelines therein when taken into consideration with the specific information noted above, indicate the existence of an employee-employer relationship. ...

In summary, the situation under consideration is as follows: XXXXXXXXXX In your opinion, as a material portion of the judgrnent pertains to the redemption of capital, i.e. ... In the Income Tax Technical News # 3, the Agency's view on a promissory note issued as consideration for the redemption or purchase for cancellation of a corporation's capital stock is as follows: "It is the Department's view that the interest payable on a promissory note issued as consideration for the redemption or purchase for cancellation of a corporation's capital stock is not deductible under paragraph 20(1)(c). ...

In consideration for the Transferred Opco Shares, Newco issues to Mr. ... (c)     Opco then sells to Newco the Non-Qualifying Assets at their fair market value of $200,000, and receives as consideration therefore redeemable preference shares of Newco with an aggregate redemption amount and fair market value of $200,000 and having nominal paid-up capital. ... has not identified a potential purchaser of the Opco Shares and he has no intention of selling the Opco Shares ("Situation 1"); (b)     at the time or the Reorganization, the sale of the Opco Shares is not under consideration or negotiation, although there are several potential purchasers in the marketplace and an offer could be received or negotiations commenced soon after the Reorganization ("Situation 2"); or (c)     at the time of the Reorganization Mr. ...

Section 51 Paragraph 51(1)(b) of the Act provides for rollover treatment "[w]here a share of the capital stock of a corporation is acquired by a taxpayer from the corporation in exchange for…a capital property of the taxpayer that is a bond, debenture or note of the corporation the terms of which confer on the holder the right to make the exchange…" and no other consideration was received by the taxpayer for the convertible property. ... Subparagraph 40(2)(g)(ii) of the Act generally applies to deny a loss on the disposition of a debt or other right to receive an amount unless the debt or right, as the case may be, was acquired by the taxpayer for the purpose of gaining or producing income from a business or property (other than exempt income) or as consideration for the disposition of capital property to a person with whom the taxpayer was dealing at arm's length. ... Amount Paid in satisfaction of a Debt Paragraph 80(2)(g) provides that generally, when a corporation issues a share to a person as consideration for a settlement of a debt issued by the corporation, and payable to the person, the amount paid in satisfaction of the debt is deemed to be equal to the fair market value of the share at the time the share was issued. ...

Subsection 245(4.1) provides that an avoidance transaction that is significantly lacking in economic substance will be “an important consideration that tends to indicate” that the transaction results in a misuse under paragraph 245(4)(a) or an abuse under paragraph 245(4)(b). ... Jane then transfers the new Opco shares to another corporation (Buyco) controlled by Jane and, in consideration, receives a promissory note. ... Une liste de facteurs devant être pris en considération pour établir si une opération ou une série d’opérations manque considérablement de substance économique se trouve au paragraphe 245(4.2). ...