Search - consideration

The Queen, 2009 DTC 731, 2009 TCC 205 (Informal Procedure)-- summary under Subsection 5(1) Summary Under Tax Topics- Income Tax Act- Section 5- Subsection 5(1) Before going on to apply the four-fold test in the Sagaz Industries case to find that the taxpayer, who was responsible for overseeing the marketing and packaging processes of a corporation in the sugar industry in consideration for a fixed monthly fee, was an independent contractor, Sheridan, J. stated (at para. 9) that "it is not unusual for a consultant to be paid a fixed monthly fee for his services". ...

It was held, however, that the difference reflected the unique suitability of the fleet for use in Canada Post's operations, and the entire amount accordingly was consideration for the trucks. ...

Bocock J. found that the taxpayer's claim that he had paid consideration in the form of loans to his father and related persons was dubious. ...

Although article 2098 of the Civil Code of Lower Canada provided that "in default of such registration, the title of conveyance cannot be invoked against any third party who has purchased the same property from the same vendor for a valuable consideration and whose title is registered", it was clear that the Minister is not a third party within the meaning of this article. ...

MNR, 92 DTC 1472, [1992] 1 CTC 2332 (TCC)-- summary under Small Business Corporation Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(1)- Small Business Corporation A promissory note held by the subsidiary of a holding company, which had been received as consideration for the disposition of its business assets, was not itself a business asset. ...

Accordingly, the dividends were paid for valuable consideration, with the result that s. 160(1) did not apply. ...

MNR, 60 DTC 519 (TAB)-- summary under Proceeds of Disposition Summary Under Tax Topics- Income Tax Act- Section 13- Subsection 13(21)- Proceeds of Disposition A "lease with promise of sale" between the taxpayer and the supposed lessee was found to be an agreement of sale given that its terms were fully consistent with a contract of sale, including the fact that the consideration was structured in the same manner as instalment payments, with provision being made for the separate payment of interest thereon, and in light of provision for conveyance of the property (a motel) to the lessee for $1 on payment of all the instalments. ...

MNR, 90 DTC 1059, [1990] 1 CTC 2165 (TCC)-- summary under Subparagraph 212(1)(d)(i) Summary Under Tax Topics- Income Tax Act- Section 212- Subsection 212(1)- Paragraph 212(1)(d)- Subparagraph 212(1)(d)(i) Payments which the taxpayer made to a non-resident joint venture arguably as the consideration for an exclusive distributorship, did not constitute amounts described in s. 212(1)(d)(i), but, rather, were capital payments. ...

., 57 DTC 1017, [1957] CTC 1 (Ex Ct)-- summary under Accounting Principles Summary Under Tax Topics- Income Tax Act- Section 9- Accounting Principles Before agreeing with the accounting experts that the taxpayer's instalment method of accounting for its sales of magazines was more appropriate than the accrual method which underlaid the Minister's reassessments, Thorson P. stated (p. 1026): "The prime consideration, where there is a dispute about a system of accounting, is, in the first place, whether it is appropriate to the business to which it is applied and tells the truth about the taxpayer's income position and, if that condition is satisfied, whether there is any prohibition in the governing income tax law against its use. ...

The Queen, 94 DTC 1765, [1995] 1 CTC 2298 (TCC)-- summary under Paragraph 248(8)(a) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(8)- Paragraph 248(8)(a) Kempo TCJ. found (at p. 1769) that s. 248(8)(a) was added "to obviate the denial of a rollover in situations where an individual, qua beneficiary, acquired estate property upon payment of consideration to satisfy the terms of a testamentary condition or instrument". ...