Search - consideration

It was appropriate to allocate 25% of the fees paid to the casino operator as consideration for the exempt cheque-cashing service, and to treat the balance as taxable. ...

Revenue and Customs Commissioners, [2014] BTC 50, [2014] EWCA Civ 1302 (English CA)-- summary under Interpretation/Definition Provisions Summary Under Tax Topics- Statutory Interpretation- Interpretation/Definition Provisions must recognize concomitant consequences of deemed facts The parent company (Brixton plc) of the taxpayer (Vocalspruce) subscribed for zero coupon notes of group companies, and transferred the notes to Vocalspruce in consideration for the issuance by Vocalspruce of shares whose nominal value was equal to the notes' discounted value, but with the shares being issued at a premium which would be paid up by capitalizing the profit to be realized by Vocalspruce on the notes, with such sums to be appropriated to Vocalspruce's share premium account. ...

Requested documents included GAAR Committee minutes including comments of individual members (whereas CRA had provided only the final Recommendation of the Committee), and correspondence between CRA and Finance (resulting in the drafting of s. 256(7)(c.1))and between the GAAR Committee and Aggressive Tax Planning, with the questions seeking particulars on the questions posed above and policy considerations brought to bear on this file, and respecting what initially may have been diffidence on the part of Finance as to how to proceed, if at all. ...

., [2003] OJ No 128, 30 BLR (3d) 288, 2003 CanLII 25909 (ON SC)-- summary under Ownership Summary Under Tax Topics- General Concepts- Ownership true sale to securitization trust rather than secured loan A predecessor of the defendant (“BC Tel”) raised $150 million by transferring receivables to a securitization trust (“RAC”) in consideration for an advance and the receipt of deferred amounts. ...

I view these considerations of both the exemptions in Schedule C of the Excise Tax Act and the items in the Customs Act as being confirmatory of my view…. ...

The reasons for judgment are unclear, but CRA apparently reassessed on the basis that the T2059 election form effectively allocated non-equity consideration ("boot") in excessive amounts to the non-goodwill assets, so that gain was required to be recognized under the excess boot rule in s. 85(1)(b). ...

After noting (at para. 44) that adapting the traditional jurisprudential test of employment to the PSB contest was a “simple matter” of “asking whether, taking into consideration all the circumstances, Mr. ...

The Court found that, in light of considerations of procedural fairness, the Quebec equivalent of ITA s. 165(3) should be read as if it contained the additional bolded words noted below (para. 17): [T]he Minister shall … reconsider the assessment and … make a reassessment, and send the Minister's decision to the person by mail and to its designated representative, if any. ...

Developer, respectively”) transferred individual resort condos (the “Vacation Homes,” which they had acquired in Canada, the U.S. and Mexico) to the Appellant (which was a non-share corporation resident in Canada) in consideration for the Appellant transferring occupancy rights to the Vacation Homes, in perpetuity to them. ...

Smith J also found that the exemption clause in the will had no effect, and concluded (at paras 44 and 45): I find that the overall evidence clearly establishes that she received property following a transfer of the residence without consideration from her brother, and that the four criteria set out in Livingston … have been met. ...