Search - consideration

Wilson agreed not to leave Magil in 1985 on account, among other considerations, of his long association with the latter firm and Mr. ... Wilson himself, given the fact among other considerations, that these appeals involved a corporate appellant. ...

(e) the transferee and transferor are jointly and severally liable to pay under this Act an amount equal to the lesser of (i) the amount, if any, by which the fair market value of the property at the time it was transferred exceeds the fair market value at that time of the consideration given for the property, and (ii) the aggregate of all amounts each of which is an amount that the transferor is liable to pay under this Act in respect of the taxation year in which the property was transferred or of any preceding taxation year.... 160(2) The Minister may at any time assess a transferee in respect of any amount payable by virtue of this section and the provisions of this Division are applicable mutatis mutandis in respect of an assessment made under this section as though it had been made under section 152. ... The affection presumed takes the place of a money consideration. And in Banff Park Savings & Credit Union Ltd. v. ...

Where a claim is registered, the person entitled to a lien shall be considered to be a purchaser to the extent of the value of the lien and a purchaser for valuable consideration within the provisions of the Registration of Deeds Act, but,except as otherwise provided here, that Act does not apply to a lien arising under this Act. ... Neither of these two decisions involved consideration of whether an assignment, even an absolute assignment, by way of security was a security interest within the definition of subsection 224(1.3) of the Income Tax Act. ...

In reply to the argument that considerations of fairness do not permit a court not to apply the Act as it stands, the plaintiffs contend that this question is far from settled: [7] the law of fairness, like other areas of the law, is in a state of change, and the liability of the Crown for the consequences of errors attributable to its own representations is in the process of being expanded (see, for example, Guérin v. ... The Department will normally (c) not reassess where the understatement of tax in the return for the year should have been apparent to the Department, considering the degree of examination and audit that the return received With respect to their allegations of discriminatory treatment, the plaintiffs assert that it is at least arguable that the Minister ought not to have applied the Act arbitrarily or on the basis of irrelevant considerations. [8] Thus he could not target the plaintiffs in a discriminatory manner and disallow the deduction of interest expenses, when other taxpayers who had purchased similar shares could deduct those expenses, regardless of whether income was produced. ...

("1315 Investments") for a consideration of $1,085,000. The purchase was completed on May 5, 1986 with title being taken by 1315 Investments. ... It is stated further that the intention at the time of acquisition together with a consideration of the taxpayer’s whole course of conduct while the asset was held is what finally influences the determination by the courts. ...

Relevant legislation The most relevant provisions of the Excise Tax Act in force during the time in question are as follows: 26.(1) In this Part, "sale price”, for the purpose of determining the consumption or sales tax, means (a) except in the case of wines, the aggregate of (i) the amount charged as price before any amount payable in respect of any other tax under this Act is added thereto, (ii) any amount that the purchaser is liable to pay to the vendor by reason of or in respect of the sale in addition to the amount charged as price (whether payable at the same or some other time) including, without limiting the generality of the foregoing, any amount charged for, or to make provision for, advertising, financing, servicing, warranty, commission or any other matter, and (iii) the amount of the excise duties payable under the Excise Act whether the goods are sold in bond or not, and, in the case of imported goods, the sale price shall be deemed to be the duty paid value thereof.... 27. (1) There shall be imposed, levied and collected a consumption or sales tax [at a prescribed rate] on the sale price of all goods [1] (a) produced or manufactured in Canada (i) payable, in any case other than a case mentioned in subparagraph (ii) or (iii), by the producer or manufacturer at the time when the goods are delivered to the purchaser or at the time when the property in the goods passes, whichever is the earlier, (ii) payable, in a case where the contract for the sale of the goods (including a hire-purchase contract and any other contract under which property in the goods passes upon satisfaction of a condition) provides that the sale price or other consideration shall be paid to the manufacturer or producer by instalments (whether the contract provides that the goods are to be delivered or property in the goods is to pass before or after payment of any or all instalments), by the producer or manufacturer pro tanto at the time each of the instalments becomes payable in accordance with the terms of the contract, and (iii) payable, in a case where the goods are for use by the producer or manufacturer thereof, by the producer or manufacturer at the time the goods are appropriated for use 28. (1) Whenever goods are manufactured or produced in Canada under such circumstances or conditions as render it difficult to determine the value thereof for the consumption or sales tax because (a) a lease of such goods or the right of using the goods but not the right of property therein is sold or given, (b) such goods having a royalty imposed thereon, the royalty is uncertain, or is not from other causes a reliable means of estimating the value of the goods, (c) such goods are manufactured or produced under any unusual or peculiar manner or conditions, or (d) such goods are for use by the manufacturer or producer and not for sale, the Minister may determine the value for the tax under this Act and all such transactions shall for the purposes of this Act be regarded as sales. ... It is suggested, however, that as this specific point was not argued in those cases it is still open for consideration. [2] It would be equally open to speculate, however, that others did not think the argument worth making. [3] Those cases, it seems to me, quite clearly proceeded on a basic understanding as to the intention of Parliament. ...

No exhaustive list has been compiled and perhaps no exhaustive list can be compiled of considerations which are relevant in determining that question, nor can strict rules be laid down as to the relative weight which the various considerations should carry in particular cases. ...

In deciding that those interest and charges could be deducted, the learned trial judge did not rely on any provision of the Income Tax Act but, rather, on what, in his view, would have been the intention of Parliament had it given consideration to that question. ... The payment of $1,320,000 by the deceased to NIR formed one of the conditions of the settlement agreement dated August 21, 1979 and was made in consideration for the release and surrender by NIR of all of its rights under the option agreement of 1973. ...

The situation, as I read it, leaves no room for such interpretation, even though the Minister's compassion and consideration in suggesting it might well be appreciated by appellants. ... Whether he had actually in physical terms ever agreed to be a director, or whether he signed the highly questionable minute book are irrelevant considerations for me. ...

The question related to whether:... an amount can reasonably be regarded as being in part the consideration for disposition of depreciable property of a taxpayer of a prescribed class and as being in part consideration for something else,... within paragraph 20(6)(g). ...