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For a taxpayer on the cash basis of reporting income, the consideration received for inventory thus sold is included in computing income for the year or years in which it is received and the corresponding costs of that inventory are deductible in the year they are paid. ¶ 2. ... Where one person has sold business inventory to another person and the amount of the consideration paid or payable by the purchaser was in part consideration for the inventory so sold and in part consideration for something else, the part of the amount that may reasonably be regarded as consideration for the inventory is deemed by section 68 to be both the proceeds of disposition of that inventory and the amount at which it was acquired by the purchaser. ... In the event the vendor and purchaser are not dealing at arm's length and the fair market value of the inventory sold is significantly more or less than the consideration paid therefor, paragraph 69(1)(a) or (b) will apply, requiring the portion of the total proceeds allocated to inventory to be based on fair market value. ...

The student pays a single consideration for the meals provided under the meal plan. ... Although “single consideration” is not defined in the Act, the Act does define “consideration” to include any amount that is payable for a supply by operation of law. Where a student enters into an agreement for meals to be provided under a meal plan and the agreement specifies that there is a single consideration, but the payment for that consideration may be made on an instalment basis, the CRA accepts that this type of arrangement meets the requirement of “single consideration”. ...

On the other hand, an amount paid by an employee as a premium, contribution or other consideration to a private health services plan qualifies as a medical expense for purposes of the medical expense tax credit by virtue of paragraph 118.2(2)(q). ... If the agreed consideration is in the form of cash premiums, they usually relate closely to the coverage provided by the plan and are based on computations involving actuarial or similar studies. ... The consideration given by the employee is considered to be the employee's covenants as found in the collective agreement or in the contract of service. 8. ...

On the other hand, an amount paid by an employee as a premium, contribution or other consideration to a private health services plan qualifies as a medical expense for purposes of the medical expense tax credit by virtue of paragraph 118.2(2)(q). ... If the agreed consideration is in the form of cash premiums, they usually relate closely to the coverage provided by the plan and are based on computations involving actuarial or similar studies. ... The consideration given by the employee is considered to be the employee's covenants as found in the collective agreement or in the contract of service. 8. ...

Combined Consideration 4. The provisions of section 68, as it affects depreciable property, can apply to consideration for, (a) both depreciable and non-depreciable property, (b) depreciable properties included in two or more prescribed classes, or (c) depreciable property and something other than property, such as services. This section commonly applies where the whole consideration is set forth in an agreement as a lump sum, or where part of the consideration is allocated in a lump sum to cover two or more things (property or services). 5. ... However, the demolition alone is not regarded as conclusive evidence that the sale price was solely in consideration of land. ...

This bulletin discusses how a taxpayer may account for cash or other non-share consideration received in lieu of a fractional interest in a share. ... No consideration other than shares of the corporation may be received for the convertible property. ... In lieu of the fractional shares, the agreement will usually provide for the taxpayer to receive cash or other non-share consideration. ...

This bulletin discusses how a taxpayer may account for cash or other non-share consideration received in lieu of a fractional interest in a share. ... No consideration other than shares of the corporation may be received for the convertible property. ... In lieu of the fractional shares, the agreement will usually provide for the taxpayer to receive cash or other non-share consideration. ...

That portion of the sale price of the business that is the consideration for the accounts receivable is required to be set out in the election which the vendor and purchaser must execute pursuant to subsection 22(2). ... The amount that is stated in the election to be the consideration for the accounts receivable is final for tax purposes as far as the vendor and purchaser are concerned and cannot later be altered. ... If the agreement for the sale of the business does not specify what part of the total consideration is for the accounts receivable, a reasonable allocation must be made between accounts receivable and other assets included in the sale. ...

On the other hand, an amount paid by an employee as a premium, contribution or other consideration to a private health services plan qualifies as a medical expense for purposes of the medical expense tax credit by virtue of paragraph 118.2(2)(q). ... If the agreed consideration is in the form of cash premiums, they usually relate closely to the coverage provided by the plan and are based on computations involving actuarial or similar studies. ... The consideration given by the employee is considered to be the employee's covenants as found in the collective agreement or in the contract of service. 8. ...

That portion of the sale price of the business that is the consideration for the accounts receivable is required to be set out in the election which the vendor and purchaser must execute pursuant to subsection 22(2). ... The amount that is stated in the election to be the consideration for the accounts receivable is final for tax purposes as far as the vendor and purchaser are concerned and cannot later be altered. ... If the agreement for the sale of the business does not specify what part of the total consideration is for the accounts receivable, a reasonable allocation must be made between accounts receivable and other assets included in the sale. ...