Search - consideration

In that allowance, there was some kind of consideration for items other than that which you would describe specifically as travel, is that correct? ... An allowance in the same terminology as appears to be given some consideration in subparagraph (v) paragraph 6(1)(b)? ...

On or about November 20, 1972 it was resolved by all of the Directors of Peyto that Peyto should take up those shares of Polaris Oil Limited deposited in accordance with the provisions of the offer dated November 20, 1972 and that there should be issued and alloted to each shareholder of Polaris depositing his shares in accordance with the: offer 1 share of the capital stock of Peyto for each 6 shares of Polaris tendered which shares would be issued for a deemed consideration of $2,75 per share. 7. ... On the same day, a resolution of the Directors of Peyto (Exhibit A-4) was passed which reads in part as follows: That there be issued and allotted to the shareholders of POLARIS OIL LIMITED who have deposited their shares in accordance with the pro- visions of the offer dated November 20, 1972, one share in the. capital stock of the Company for each six shares of Polaris Oil Limited deposited in accordance with the terms of the said offer, which shares of the Company shall be issued and allotted at a deemed consideration of $3. per share. ...

Counsel for the respondent pointed out that there was no evidence that any consideration had been given by Mr Howe (or certainly Mr Powell) to retirement allowances in December 1973, when the business was sold, and that it had only developed as an afterthought in order to reduce or defer the personal income tax of the appellant. ... In the same way, while some of the testimony and argument could leave room for consideration that the “retiring allowance” claimed was for loss of employment rather than in recognition of long service, no such doubt remains when the factual material is reviewed: Notice of Appeal:... as retirement allowance to former employees with long service... ...

Counsel for the respondent pointed out that there was no evidence that any consideration had been given by Mr Howe (or certainly Mr Powell) to retirement allowances in December 1973, when the business was sold, and that it had only developed as an afterthought in order to reduce or defer the personal income tax of the appellant. ... In the same way, while some of the testimony and argument could leave room for consideration that the “retiring allowance” claimed was for loss of employment rather than in recognition of long service, no such doubt remains when the factual material is reviewed: Notice of Appeal:... as retirement allowance to former employees with long service... ...

Elle ne peut être prise en considération si elle va à l’encontre de la loi. Elle peut cependant être prise en considération si la loi est ambiguë, comme l’a exprimé la Cour Suprême du Canada dans Harel c Le Sous- ministre du Revenu du Québec. 4.3.6 Argument de l’intimé L’intimé soutient pour sa part que pour avoir un contrat valide en assurance il doit y avoir le preneur, l’assuré et le bénéficiaire. ...

On or about October 31, 1973, the said property was sold to Chedoke Developments Incorporated (hereinafter referred to as “Chedoke”) for the total consideration of $240,000, with a balance of the price outstanding of $150,000. ... The following paragraph from [1972] CTC 373 and 72 DTC 6353 respectively of that judgment appropriately curtails the value of that case in support of the instant appeal: After giving careful consideration to all the evidence, I am satisfied that the respondents acquired the lots here in question for the purpose of investment to the exclusion of any purpose of trading therein. ... It is also clear from his reasons that he gave consideration to the contention of Appellant’s counsel that its long history of capital investment in British Columbia indicated that its real intention in purchasing Melville 2 and 3 was in accord with its tradition of buying and holding property as long term investments which were capital in nature. ...

One consideration may point so clearly that it dominates other and vaguer indications in the contrary direction. ... In my submission the same considerations apply where we are dealing with a question whether an amount is laid out for the purpose of gaining or producing income. ...

As indicated in the attached schedule the total purchase consideration given for the Giguére Automobile shares was not allocated to the vendors in the same proportions as their respective shareholdings, Robert and the estate receiving more than their pro-rata share and the others less. ... It is clear to see, therefore, that these sales (for a consideration which can be easily converted into cash and thereby lead to a disappearance of assets) have placed the former shareholders in the position where they can withdraw from the companies amounts in excess of these undistributed incomes without incurring the tax thereon for which they would otherwise have become liable if these amounts had been paid to them by way of ordinary distributions of income. ... It is our view that these sales to the pension plan are part of a series of transactions that began with the sale of Location Laurentienne and Giguére Automobile shares and will end with the consideration received therefor being turned into cash. ...

Argument The appellant presented no income tax jurisprudence in support of his claim but asserted that the Department of National Revenue should not criticize those persons who took a chance and started businesses; that most farmers had to keep another job in order to farm; and that under the circumstances it was reasonable for him to expect consideration and assistance from the government. ... There is no basis upon which to conclude that his situation parallels in any way those recounted in Zavitz (supra), allowing consideration of the restricted farm loss. ...

(SN p 31) 3.17 In Exhibit A-3, minutes of a meeting of the board of directors of C P Associates Limited, made on January 12, 1976, one can read among other things: After discussion, it was moved, seconded and unanimously resolved that this Company does owe to Mr Eli Cowan, as of this date, the sum of $99,790 as part consideration for Mr Eli Cowan having assigned and transferred to the Company all his rights, title and interest in and to the process known as Alcohol Pulping Recovery Process and that the Company does hereby agree to issue to Mr Eli Cowan its demand non-interest promissory note for an amount of $99,790 which sum of money would be repaid to Mr Eli Cowan out of the first proceeds received by the Company in respect of royalties received by them from the licensing of the Alcohol Pulping Recovery Process. ... That is the first time that I see that they pay you to be an agent — it’s the first time I have seen this but anyway, in consideration of the payment of $25,000, to wit on or before April 10, 1980, they give you an option to act as an exclusive agent for C P Associates licencing the APR procedure — did you get paid the $25,000? ...