Search - consideration

Purpose, while it may involve a subjective element, must be largely determined on the basis of objective considerations. ...

Leslie, 75 DTC 5086, [1975] CTC 155 (FCTD)-- summary under Subsection 15(1) Summary Under Tax Topics- Income Tax Act- Section 15- Subsection 15(1) no asset backing for note- no benefit until paid In 1959 the taxpayer sold his food storage business having a fair market value of $5,078 to a company of which he was the majority shareholder in consideration of treasury shares having an expressed value of $10,000 and a promissory note in the principal amount of $15,300. ...

The Queen, 97 DTC 684, [1997] 1 CTC 2256 (TCC)-- summary under Evidence Summary Under Tax Topics- General Concepts- Evidence Dussault TCJ. found that it was not relevant to the status of the individual advanced as an expert by the Crown that he was licensed as a professional engineer in Ontario rather than Quebec (stating at p. 485 that "it is knowledge and expertise in a field that count, not the manner in which that knowledge and expertise have been acquired") but went on to find that because the individual had not followed high technology developments in telephony, which was the particular field under consideration, he could not be qualified as an expert. ...

., 82 DTC 6268, [1982] CTC 314 (FCA)-- summary under Cumulative Eligible Capital Summary Under Tax Topics- Income Tax Act- Section 14- Subsection 14(5)- Cumulative Eligible Capital Where the consideration for sale of goodwill is to be paid to the vendor over a series of years, then 1/2 of the amounts so paid are included as eligible capital amounts in computing the vendor's income in the years of payment as opposed to the earlier year of sale: in the year of sale, the amounts to be paid in subsequent years were not then "payable". ...

Minister of National Revenue, 49 DTC 514, [1949] CTC 1, [1949] S.C.R. 287, [1949-1950] DTC 514-- summary under Paragraph 20(1)(c) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(1)- Paragraph 20(1)(c) guarantee payments not interest In finding that annual amounts described in various resolutions of the taxpayer as "interest" in fact were guarantee payments, Locke J. stated (p. 515): "Interest is paid by a borrower to a lender: a sum paid to a third person as the consideration for guaranteeing a loan cannot be so described. ...

Canada, 2007 DTC 5559, 2007 FCA 293-- summary under Legal and other Professional Fees Summary Under Tax Topics- Income Tax Act- Section 18- Subsection 18(1)- Paragraph 18(1)(a)- Legal and other Professional Fees The taxpayer earned his living as a prospector by staking claims and obtaining leases and selling them to mining companies for cash and other consideration, often shares of the companies. ...

.-- summary under Drafting Style Summary Under Tax Topics- Statutory Interpretation- Drafting Style Crown counsel argued that because s. 66.1(6)(a) specifically referred to a right to shares in addition to shares, it could be inferred that the absence of similar language in the opening words of s. 85(1) implied that the reference therein to share consideration did not include a right to receive shares. ...

The Queen, 97 DTC 808, [1997] 1 CTC 2092 (TCC)-- summary under Paragraph 1102(1)(c) Summary Under Tax Topics- Income Tax Regulations- Regulation 1102- Subsection 1102(1)- Paragraph 1102(1)(c) A residential property that the taxpayer received as partial consideration for the sale by it of substantially all its properties and that it rented out for a brief period before selling it, was found not to have been acquired for the purpose of gaining or producing income given the lack of real estate experience of its principal, the reason for receiving the property, and the low rents received on the property. ...

The Queen, 79 DTC 5474, [1980] CTC 1, 79 DTC 5479 (FCA)-- summary under Paragraph 69(1)(c) Summary Under Tax Topics- Income Tax Act- Section 69- Subsection 69(1)- Paragraph 69(1)(c) The donation of services, such as farming labour, by members of a Hutterite religious colony to their corporation did not constitute an acquisition of property by the corporation, nor did it constitute a gift since there was consideration for the provision of those services in the form of a covenant of the corporation (as set out in its memorandum of association) to support, maintain, instruct and educate the members of the colony. ...

Fries, 90 DTC 6662, [1990] 2 S.C.R. 1322, [1990] 2 CTC 439-- summary under Paragraph 3(a) Summary Under Tax Topics- Income Tax Act- Section 3- Paragraph 3(a) payment from union to support another strike was non-taxable Amounts received by an employee of the Saskatchewan Liquor Board from the Saskatchewan Government Employees' Union (the "SGEU") in consideration of his agreement in support of a strike by government employees who were not Liquor Board employees, to withdraw his services from the Liquor Board, were not taxable to him as income from a source. ...