Search - consideration

-No, the meaning of capital property does not include an eligible capital property Reasons: The respective definition of each term in subsection 248(1) and section 54 of the Act, taking into consideration the definitions of all other relevant terms that are applicable as well as published Departmental positions. ... The term "eligible capital property" of a taxpayer is defined in section 54 of the Act to mean: "any property, a part of the consideration for the disposition of which would, if the taxpayer disposed of the property, be an eligible capital amount in respect of a business" Subsection 14(1) reads in part: "...an amount determined in respect of a taxpayer, for E in the definition of "cumulative eligible capital" in subsection (5) (in this section referred to as an "eligible capital amount")..." "E" of the definition of "cumulative eligible capital" in subsection 14(5) is: "...an amount which, as a result of a disposition..., the taxpayer has or may become entitled to receive, in respect of the business carried on or formerly carried on by the taxpayer therefor was such that, if any payment had been made by the taxpayer after 1971 for that consideration, would have been an eligible capital expenditure of the taxpayer in respect of that business... ...

Specifically it "means a contract of insurance in which the consideration is not fixed or certain at the time the contract is made and is to be determined at the termination of the contract or at fixed periods during the term of the contract according to the experience of the insurer in respect of all similar contracts, whether or not the maximum amount of such consideration is predetermined"; g) "Regulations" means the Income Tax Regulations; h) "Superintendent" has the meaning assigned under XXXXXXXXXX the Insurance Act. ... No other consideration will be received or given by any member or policyholder of Aco or Bco. ...

An annuity or other periodical payment made, esp. by a government, a company, or an employer of labour, in consideration of past services." Accordingly, a plan will, in general, be considered to be a superannuation or pension fund where contributions have been made to the plan by or on behalf of an employer or former employer of an employee in consideration for services rendered by the employee and the contributions are used to provide an annuity or other periodical payment on or after the employee's retirement in consideration for his or her employment services, and in some cases, where amounts have been contributed under the plan by a government. ...

The appropriate treatment for income tax purposes of outlays made by a taxpayer, as well as the determination of the Class in Schedule II to the Regulations to which the cost of property acquired by a taxpayer may be classified, are questions of fact involving the application of the provisions of the Income Tax Act (the "Act") and the Regulations to the facts of the particular situation under consideration. ... It would be a question of fact whether a particular property under consideration would otherwise be included in Class 1, 2 or 8 of Schedule II to the Regulations and would not be expressly excluded from paragraph (a) to Class 43.1 pursuant to the post-amble thereto. ... Whether or not particular equipment would be "ancillary to" Qualified Equipment for the purposes of subparagraph (a)(iv) to Class 43.1 in a given situation would have to be determined from the facts of the situation under consideration. ...

Generally, a plan will be considered a superannuation or pension fund where contributions have been made to the plan by or on behalf of an employer or former employer of an employee in consideration for services rendered by the employee and the contributions are used to provide an annuity or other periodical payment on or after the employee's retirement in consideration for his or her employment services. ... An annuity or other periodical payment made, esp. by a government, a company, or an employer of labour, in consideration of past services. ...

ACTIONS "D" nombre illimité; non-votantes; non participantes; dividende mensuel fixe, non cumulatif de XXXXXXXXXX% calculé sur le montant que représente la considération reçue par la compagnie lors de l'émission des actions; dividende prioritaire au dividende des actions de catégories "A" et "B"; rachetables soit au gré du détenteur ou de la compagnie au montant que représente la considération reçue par la compagnie lors de l'émission des actions plus les dividendes déclarés et non payés; rachetables de gré à gré pour un montant maximum que représente la considération reçue lors de l'émission des actions plus les dividendes déclarés et non payés. 5. ...

In such cases, the services are rendered primarily for the benefit of the employer and the payments represent consideration for the services, usually based on the time spent providing the services or the value or volume of these services. ... Fellowship awards are made on the basis of the demonstrated merit and potential of the applicant, taking into consideration the applicant's academic record, research ability, and references.? ... While the Document is by no means a substitute for the actual terms and conditions of the arrangement with the Payee, the general guidelines therein when taken into consideration with the specific information noted above, indicate the existence of an employee-employer relationship. ...

Under subsection 44.1(6), where an individual receives ESBC shares (the "new shares") as the sole consideration for the disposition of shares issued by another corporation that were ESBC shares ("exchanged shares"), the individual is deemed to own the new shares throughout the period that he or she owned the exchanged shares provided that certain conditions are met. ... Similarly, under subsection 44.1(7) where an individual disposes of common shares of a corporation ("exchanged shares") and receives as consideration only common shares of another corporation ("new shares"), the new shares are deemed to be ESBC shares and shares of an active business corporation that were owned by the individual throughout the period that the exchanged shares were owned by the individual provided again that certain conditions are met. ... With respect to your comments concerning the possible revision of IT-259R3 in order to deal with new section 44.1, please note that there is no plan to make such a revision at this time, however we have forwarded your suggestion to our Technical Publications and Projects Section for their consideration. ...

We acknowledge, however, that although the wording of section 86.1 is slightly different in this respect from other rollover provisions in the Act that require that only share consideration be received by the taxpayer (for example, subsections 51(1), 85.1(1) and 87(4) of the Act), the position we take on this matter may have an impact on our interpretation of such provisions. ... There may be U.S. considerations behind this particular ordering; if so, we would want to examine these considerations in the context of a particular proposed foreign spin-off. ...

An inter vivos personal trust is a trust under which no beneficial interest was acquired for consideration payable directly or indirectly to the trust or to any person who made a contribution to the trust by way of transfer, assignment or any other disposition of property. For this purpose, the settlor of a trust who also has an interest in that trust is not considered to have acquired an interest in the trust for consideration solely because of his or her transfer of property to the trust. ... Whether the administrative practice would be expanded to cover a situation in which the shares of a single purpose corporation are transferred inter vivos to an alter ego trust can only be determined after taking into consideration all of the relevant facts and in the context of an advance income tax ruling. ...