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The Queen, 90 DTC 6371, [1990] 2 CTC 122 (FCTD)-- summary under Section 68 Summary Under Tax Topics- Income Tax Act- Section 68 allocation in agreement respected The Court refused to depart from a supplementary agreement as to the allocation of purchase price between land, building and equipment in a sale of an apartment building property by the taxpayer in light of the consideration the taxpayer had given to making a counter-proposal as to the allocation and the similarity that such allocation bore to the allocation on the purchase seven years previously by the taxpayer of the property. ...

Québec (Sous-ministre du Revenu), 1999 CanLII 10635 (Court of Quebec)-- summary under Paragraph 6(1)(a) Summary Under Tax Topics- Income Tax Act- Section 6- Subsection 6(1)- Paragraph 6(1)(a) taxable benefit when Government paid the law society fees of Crown attorney The taxpayer, who was a Crown attorney employed by the Quebec government, was found by Bossé J to have received a taxable benefit by virtue of his employer’s payment of his dues to the Quebec Bar, taking into consideration that the payment of such dues for him was not driven by the requirements of the contract of employment and resulted in his enrichment because this was an expense which he otherwise would have had to bear. ...

Canada, 2019 FCA 217-- summary under Section 8.1 Summary Under Tax Topics- Statutory Interpretation- Interpretation Act- Section 8.1 tax characterization not affected by securities law characterization In finding that amounts paid by mutual funds to an offshore financing entity were to be characterized as consideration for a financing service notwithstanding that, for securities law purposes, they were permitted on the basis that they were allowed as being payments for management fees, Woods JA stated (at para. 58): [T]he manner in which the arrangement would be interpreted for securities purposes does not affect the characterization of the legal relationships for taxation purposes. ...

The Queen, 2019 TCC 265-- summary under Land Summary Under Tax Topics- General Concepts- Fair Market Value- Land FMV of home potentially reduced by spouse continuing to live there After finding that s. 160 applied on the basis that ½ of the beneficial ownership of the family had been transferred for nominal consideration to the taxpayer by her husband, a tax debtor, MacPhee J also noted (at para. 34) that “it could be argued that the value of what was transferred by Mr. ...

The King, 2024 TCC 50-- summary under Subsection 306.1(1) Summary Under Tax Topics- Excise Tax Act- Section 306.1- Subsection 306.1(1) CRA was aware that the ancillary issue that was not explicitly raised was included in the objection TD, whose appeal was focused on the question of whether payments which it made to Aeroplan for purchase Aeroplan Miles were not subject to HST on the basis of being consideration for gift certificates, was not precluded from arguing that payments which it made to another bank (CIBC) in respect of Aeroplan Miles also enjoyed the same treatment (notwithstanding that such payments were not referenced in its objection) given that CRA had regarded this issue as being included in TD’s objection. ...

The King, 2025 TCC 16-- summary under Subsection 248(26) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(26) deeming of taxpayer liability to be an obligation Before going on to find that advances made to an employee as a performance award constituted loans and after paraphrasing s. 248(26), Ouimet J stated (at para. 35): Consequently, for a taxpayer who either becomes liable to repay money they borrowed or becomes liable to pay an amount (other than interest) as consideration for any property they acquired, the liability shall be considered to be an “obligation” for the purposes of applying the relevant provisions of the ITA. ...

Minister of National Revenue, 70 DTC 6366, [1970] CTC 572, [1971] S.C.R. 601-- summary under Proceeds of Disposition Summary Under Tax Topics- Income Tax Act- Section 13- Subsection 13(21)- Proceeds of Disposition proceeds of disposition not reduced to reflect that debentures received had a lower FMV that their principal amount In rejecting an argument that recapture of depreciation should be reduced to reflect the fair market value of debentures received in consideration for the depreciable property being lower than their principal amount, Pigeon J. noted that s. 20(5)(c) of the pre-1972 Act deemed proceeds of disposition of the property to include the sale price, which was equal to the principal amount of the debentures. ...

Minister of National Revenue, 70 DTC 6366, [1970] CTC 572, [1971] S.C.R. 601-- summary under Paragraph (a) Summary Under Tax Topics- Income Tax Act- Section 54- Proceeds of Disposition- Paragraph (a) proceeds of disposition based on face amount rather than FMV of debentures received therefor In finding that recapture of depreciation should not be reduced to reflect that the fair market value of debentures received in consideration for the depreciable property was lower than their principal amount, Pigeon J. noted that s. 20(5)(c) of the pre-1972 Act deemed proceeds of disposition of the property to include the sale price, which was equal to the principal amount of the debentures. ...