Search - consideration

The problem here is this: Should the premium that an individual pays in exercising his option to obtain the extra coverage granted by the group-policy makers—in this case Mutual Life—be taken into consideration in calculating the benefit to him envisaged by the Act? ...

In consideration of receiving $200,000 payable within a period of five years the appellant agreed to three undertakings by him as therein set forth. ...

From the evidence adduced in these appeals, I conclude that Antoine and Gabrielle Hullmann acquired the properties which are the subject matter under consideration for the purpose of resale and not for a long-term investment, that their conduct in these transactions was that of an adventure in the nature of trade, and that the profits realized from the sales of these properties were properly included in the income of Antoine and Gabrielle Hullmann for the 1964, 1966, 1967, 1968 and 1969 taxation years. ...

The existence of the first mortgage of $16,000 on the property was not taken into consideration and though the evaluation was $29,000, the assessment on the property was $21,762. ...

Upon a consideration of the évidence as a whole, I am satisfied that Mary Byke had no funds of her own with which to invest in the purchase of shares of the Tecumseh Hotel and, therefore, the shares transferred to and registered in her name were in fact beneficially owned by her husband Jacob Byke. ...

In view of these considerations and findings, it is not necessary to deal with the respondent’s contention that issues not raised in the Notice of Objection cannot be brought up in the Notice of Appeal or even orally at the hearing. ...

In such circumstances, the new job criterion for determining the amount of the incentive payment would of course be replaced by some other more practical consideration. 15 In my opinion, all these criteria for determining the amount to be granted as an incentive, including the estimated number of new jobs to be created, are simply mathematical formulae used to arrive at a specific amount of incentive considered to be best or most useful in encouraging the building of new manufacturing facilities or in the expansion or modification of already-existing enterprises in designated areas. 16 There is no doubt that the purpose of the Regional Development Incentives Act is to promote the development of productive employment opportunities and to facilitate economic and social adjustment in certain designated areas. ...

Nor, I believe, would anyone disagree with the proposition that a person may invest his money in a business in order to derive a profit from its active operation or he may choose to invest in property and passively derive revenue from rentals or from interest on his investment. 13 However, the Income Tax Act has made an important and consistent legal distinction between income from a business and income from investment or property, and it seems to me that this basic distinction is an essential consideration in determining whether or not the appellant falls within the meaning of subsection 125(1) of the Income Tax Act. 14 In my opinion investment in movable or immovable property on a long-term basis cannot in general be considered to be a profit-producing business enterprise. ...

In spite of this stipulation, the lease which Great West granted to 159 Bay Street Limited contained all the usual terms and conditions of an ordinary lease of land as, for example, the landlord's right to the buildings on the land upon termination of the lease “by effluxion of time or sooner as herein provided ipso facto and without compensation or further consideration”, his right to re-enter upon default of the tenant, etc. ...

These appeals were heard concurrently, and the evidence adduced at the hearing, as well as the written pleadings of both parties, was taken into consideration in settling the issue for each of the taxation years involved. ...