Search - consideration

The ARQ accepted that various salary expenses of CS Canada (of about $0.9M per annum) were incurred on the prosecution of SR&ED, but denied investment tax credits under the Quebec equivalent of s. 127(18) on the basis that the contractual consideration paid by P&W constituted “contract payments” under the Quebec equivalent of the definition of that term in ITA s. 127(9), i.e., on that basis that the SR&ED was performed on behalf of P&W. ...

The applicable Social Service Tax Act (B.C.) provision required that tax be paid on the “lease price” of leased property which was defined to mean the “total consideration paid…for the right to use the leased property”. ...

The suggestion in Australia, that individuals' "reasonable belief" that they are clients is a relevant consideration, "begs too many questions" about the nature of the resulting legal test (para. 38). ...

It may be open to argument by the US partners that they should obtain the benefits of the DTA on the basis that it was appropriate for Australia to view the gain as derived by the partners resident in the US, and to apply the provisions of the DTA accordingly, as discussed in the OECD commentary (about which we express no view) but that consideration is a separate issue to the question of whether the effect of the provisions of the DTA was to allocate the liability for the tax on the gain differently to the Assessment Act. ...

Revenue and Customs Commissioners, [2014] BTC 50, [2014] EWCA Civ 1302 (English CA)-- summary under Interpretation/Definition Provisions Summary Under Tax Topics- Statutory Interpretation- Interpretation/Definition Provisions must recognize concomitant consequences of deemed facts The parent company (Brixton plc) of the taxpayer (Vocalspruce) subscribed for zero coupon notes of group companies, and transferred the notes to Vocalspruce in consideration for the issuance by Vocalspruce of shares whose nominal value was equal to the notes' discounted value, but with the shares being issued at a premium which would be paid up by capitalizing the profit to be realized by Vocalspruce on the notes, with such sums to be appropriated to Vocalspruce's share premium account. ...

., [2003] OJ No 128, 30 BLR (3d) 288, 2003 CanLII 25909 (ON SC)-- summary under Ownership Summary Under Tax Topics- General Concepts- Ownership true sale to securitization trust rather than secured loan A predecessor of the defendant (“BC Tel”) raised $150 million by transferring receivables to a securitization trust (“RAC”) in consideration for an advance and the receipt of deferred amounts. ...

The Court found that, in light of considerations of procedural fairness, the Quebec equivalent of ITA s. 165(3) should be read as if it contained the additional bolded words noted below (para. 17): [T]he Minister shall … reconsider the assessment and … make a reassessment, and send the Minister's decision to the person by mail and to its designated representative, if any. ...

Booth of Paradigm Capital, an expert in the valuation of reserves and resource estimates for the oil and gas industry, who concluded that the consideration contemplated by the arrangement was inadequate. ...

In his concurring reasons, Allsop CJ stated (at paras. 93-5) respecting the assimilated Art. 9 rule: [W]ere CAHPL seeking to borrow for five years on an unsecured basis with no financial or operational covenants from an independent lender, in order to act rationally and commercially and conformably with the interests of the Chevron group to obtain external funding at the lowest possible cost consistently with any relevant operational considerations, it would do so with Chevron providing a parent company guarantee, if such were available. ...

At issue were Article 13 of the India-Denmark Double Taxation Agreement (the “DTA”), which permitted India to impose tax of 20% on the gross amount of fees for technical services (essentially defined as “consideration for the services of technical or other personnel”); and Article 9 of the DTA, which provided for a reduced rate of Indian tax on “profits derived from the operation of ships in international traffic.” ...