Search - consideration

In consideration of this payment, the lending institution will reduce the interest rate on the mortgage for a fixed term. ... The plaintiff's expert stated that this approach to calculating profit is in accordance with the economic realities of the situation: One has, obviously in this case, sold a property at a price which in effect takes into consideration the discount allowed in the mortgage and if one was not to discount the mortgage for accounting purposes, you would end up with inflated income, because that income has not been realized in that period. ...

However, the facts in Stuart Estate that were relevant to the determination of the principal residence exemption had not changed during the period in which the property was owned by the taxpayer, and so there was no controversy to be resolved except the application of the ½ hectare rule, and no consideration of paragraph 40(2)(b) ... Neither case involved any consideration of paragraph 40(2)(b), no doubt because neither case involved a situation in which the facts relevant to the application of the ½ hectare rule changed during the period in which the property in issue was owned by the taxpayer. ...

Tab 16 This document is a resolution by the Directors of Dural to transfer the building at 550 Marshall Avenue “in consideration of the assumption by Multibond of all the outstanding debts,liabilities and obligations of the Company”. ... Tab 19 This document is the transfer deed for the building at 550 Marshall Avenue in Dorval from Dural to Multibond as an incident of the winding up of Dural (see clause 3 on page 2-3 and clause 8 on page 10 under the word "consideration"). ...

In consideration for these services PCAB would receive a fee which ranged from 50 per cent to 100 per cent of the fees received by the plaintiff under its agreements with the Value Fund and the Security Fund. ... In stating that the term "administration" should be the dominating consideration as opposed to management”, counsel for the plaintiff relied on the rule of construction noscitur a sociis, or"a word is known by its companions". ...

Canada, [1991] 1 C.T.C. 460, 91 D.T.C. 5327) held that the exemption granted under section 252a (e)(37) of Puerto Rico's Industrial Incentives Act of 1963 was not an export incentive but rather an exemption from tax "to promote investments or projects in pursuance of a program of economic development," a concept drawn from subsection 5907(10) of the Canadian Income Tax Regulations (“the Regulations”) which may lead to an exemption from income tax on dividends repatriated to Canada as a so-called "tax-sparing relief” by which Canada foregoes the tax it would normally levy, out of consideration for the tax relief in the foreign country. ... He then continued with the consideration which he found decisive in the resolution of the matter, at pages 468-69 (D.T.C. 5333-34): It is perhaps more useful to consider the purpose of the Puerto Rican tax exemption in question which II do on the basis of interpretative materials provided by the expert witnesses. ...

It also provided for the making, in proportion to their shareholdings, of interest-free loans by the shareholders to Cuisson to discharge current liabilities which Cuisson might not be able to meet from current income or moneys and that the parties would cause the directors of Cuisson to enter into a mining agreement with the appellant which would.. provide for the management of Cuisson and for the further examination, exploration, development and mining of the Granite Lake Claims of Cuisson in conjunction, concurrently and consecutively, with contiguous and adjacent mineral claims of Gibraltar, in such manner and upon and subject to such terms and conditions and for such consideration, all as the Board of Directors of Cuisson may approve.” ... The parties hereto acknowledge that it is Gibraltar’s present intention to mine the Claims in a natural mining sequence taking into consideration the relevant mineralization of the Claims, the Gibraltar Granite Lake Claims, and all other claims owned or operated by Gibraltar, and dependent at all times on the economic feasibility of mining the Claims. 2.04 Upon mining of ore from the Claims, Gibraltar shall deliver such ore to the Gibraltar concentrator and at the time of such delivery, Cuisson shall sell and Gibraltar shall buy such ore. ...

The plaintiff contended that in the case at bar those considerations did not prevail and likened the purchase and sale of the English pounds for future delivery to an insurance policy to protect the plaintiff from an eventuality which did occur resulting in the depreciation in value of capital assets owned by it, in the same way that proceeds of a fire insurance policy protected an insured from the depreciating effect of a fire on its capital assets. ... The considerations prompting the transaction may be of such a business nature as to Invest it with the character of an adventure in the nature of trade even without any intention of making a profit on the sale of the purchased commodity.” ...

That, in addition to consideration of the taxpayer’s whole course of conduct while in possession of the asset, is what in the end generally influences the finding of the Court. ... Conclusion In my view, taking into consideration all the factors discussed above, Leasehold intended to hold Hawksbury Mall as an investment at the time the asset came into existence. ...

The Tax Court then concluded that paragraph 6(1) (a) required consideration of a number of factors, the key factor in the circumstances then before the Court being who primarily benefited from the complimentary parking arrangement.  ... Consideration of the Asserted Errors [15]            Paragraph 6(1) (a) is cast in broad terms.   ...

He said that they: (a) visited restaurant properties owned by companies in which the estate held shares and reviewed leases thereof; (b) dealt with "offsets" that is to say arrangements designed to ensure that intercompany payables and receivables were correctly dealt with; (c) instructed the financial administrator of the estate to monitor the instruments of deposit which were available in order to secure the best possible return on invested funds; (d) dealt with a threat of default on the Can lea mortgage, a receivable owned by one of the companies in which the estate held shares; (e) dealt with a dispute between a company in which the estate held shares and a person who owed money to that company; (f) monitored and engaged in tax planning including: (i) avoiding a situation in which one company in the group suffered losses which could not be offset against gains earned by another company in the group; (ii) avoiding by means of a corporate amalgamation the potential loss of a mortgage reserve upon the transfer to the estate by a company controlled by Gregory Pappas of the Canlea mortgage receivable; (iii) consideration of a proposal advanced by tax counsel for one of the beneficiaries which proposal called for the winding-up of one of the companies the shares of which were held by the estate in order to trigger a loss which could then be used to offset a capital gain which had to be reported in the terminal return of income; (iv) consideration of a proposal to form a trust in Bermuda and make ancillary arrangements intended to avoid Canadian withholding tax on payment to the widow, a non-resident of Canada; (g) dealt with claims to certain assets made by the widow which claims were supported by threats to take proceedings under the Family Relief Act. ...