Search - consideration

In essence, the question to be answered is whether family considerations drove how the corporation acted rather than commercial considerations. ...

A transfer of property to a registered charity is not a gift for the purposes of section 118.1 of the Income Tax Act (the "Act") if there is consideration of any kind being received in return. The word "gift" has been interpreted by the Department as being a voluntary transfer of property without consideration and without conditions. ...

Whether an adoption-in-fact has taken place is indeed a question of fact and such a determination would have to be made upon consideration of the circumstances. ... The "adopting" parent would appear to be eligible for consideration for the claim under paragraph 118(1)(a) but not for the equivalent claim under paragraph 118(1)(b), since it would not be likely that at a time when that parent was single he or she was supporting the child in a self-contained domestic establishment in which that parent was also residing. ...

We would note that the Friesen case has recently been heard on appeal to the Supreme Court of Canada and, notwithstanding the numerous considerations of this and similar issues by the Courts, it is hoped that the forthcoming decision by the Supreme Court will provide guidance in this matter, especially in those instances in which the "inventory" consists of only one or a very few properties. ... In circumstances in which the assets are not considered to constitute inventory of the insurer, the taxpayer may be able demonstrate that, pursuant to section 9 of the Act and in accordance with ordinary commercial principles applicable to the industry, it is entitled to a write-down of the assets under consideration in computing its income for the year. ...

These costs involve a consideration of paragraph 118.2(2)(l.2) of the Income Tax Act. ... In the situation under consideration, it is our understanding that the taxpayer's spouse has a severe and prolonged mobility impairment as a consequence of the medical condition described to us. ...

File referred back to TSO for consideration and reply. We have provided comments to assist them in their determination. ... Zion Chantal Jalbert (613) 957-8953 Assistant Director Attention: Lynne Charron 951432 Clergyman's Residence XXXXXXXXXX We are returning the attached letter from XXXXXXXXXX which your office forwarded to this Division for a ruling, for your consideration and reply. ...

The definition of "exchange" in Black's Law Dictionary includes the following: "act of giving or taking one thing for another", "contract by terms of which specific property is given in consideration of receipt of property other than money" and "transaction in which one piece of property, usually something other than money or its equivalent, is given in return for another piece of property". ... Section 51 of the Act requires that a share be acquired in exchange for consideration consisting of another share which would be indicative of a disposition; while section 86 requires that the share be disposed of. ...

Donor will obtain an agency contract from the donee which could in appropriate circumstances be viewed as consideration. 2. ... The agency contract could, in appropriate circumstances (especially if it was a condition of the donation of the masters or if a material benefit flows to the Artist), be viewed as consideration for the donated masters, such that the donation would not be a "gift" for purposes of the Income Tax Act. ...

It is our view that where a taxpayer gives up his right to compete in a business under a contract that right would be a property for the purposes of the Act and any consideration received by the taxpayer for giving up such right would generally be on account of capital. ... Unless you have evidence that the consideration paid by the XXXXXXXXXX was less than the fair market value of the purchased assets, including goodwill of the XXXXXXXXXX if any, there would not appear to be any basis upon which subsections 15(1), 56(2), 246(2) or other similar provisions can be considered. ...

In granting the stock option rights, the Stock Option Committee shall take into consideration contributions the employee has made or may make to the success of the Corporation or its Affiliates. ... Or, the options may relate to service in the immediately prior year, since the Committee may take into consideration the employee's past contributions, and options were granted each year. ...