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Revenue and Customs v Fortyseven Park Street Ltd, [2019] EWCA Civ 849-- summary under Residential Complex Summary Under Tax Topics- Excise Tax Act- Section 123- Subsection 123(1)- Residential Complex users of time shares in complex with boutique-hotel level of service were using hotel or similar accommodation The owner of a property in Mayfair, London that had been converted into 49 residences, agreed with purchasers that, in consideration for a lump sum, each purchaser (a "member”) would have the right, after making a reservation, to use a residence of the particular quality level (1 to 5) for which they had paid, for up to 21 days a year during the term of approximately 50 years (plus for a further 14 nights on payment of a modest charge). ...

Similarly, he stated (at para. 55): [T]here is no doubt that broad expressions such as “taxable supply” and “commercial activity” … must be interpreted irrespective of considerations of lawfulness, public order or morality. ...

How can the plaintiff challenge the presumption of correctness of the notices of assessment where the 7.89% rate, considered to be reasonable and adopted by the defendant, falls within the range that its own expert considered to be a reasonable rate based on the current rates in the market for obligations with similar considerations and risks during the period in litigation? ...

…[I]t is difficult to see how the legal treatment of a dividend under corporate and civil law would prevent Parliament from regarding that dividend, for tax purposes, as a transfer of property without consideration when made by persons who are not dealing at arm's length. … In also rejecting the taxpayer’s argument that a portion of the dividends were in fact loan repayments, he stated (at paras. 25-26): However, this does not change the fact that the dividends … were reported as dividends …. ...

. … The appellant also argues that he was denied procedural fairness because he legitimately and reasonably expected that he would be provided the same process considerations as the successful SDL Optics employees. … I disagree. ...

Muir had given consideration of $124,000 to the Corporation. Before vacating the assessment, Boyle J stated (at paras 19, 20 and 22): I find that the $124,000 was transferred by the Corporation to Ms. ...

The consideration for each ordinary share was US$3.55 per share and US$7.10 per ADS. ...

Colitto transferred, for nominal consideration, real estate to her in 2008. ...

Canada, 2020 FCA 115-- summary under Paragraph 97(2)(b) Summary Under Tax Topics- Income Tax Act- Section 97- Subsection 97(2)- Paragraph 97(2)(b) the starting ACB of a partnership interest was determined exclusively under s. 97(2)(b) The taxpayer (“Iberville”), on three occasions in 2003 and 2004, contributed shopping centres worth $130M to a newly-formed partnership in consideration for promissory notes approximating the $14M cost amount of the contributed properties and for units of the partnership. ...

Canada, 2020 FCA 115-- summary under Subsection 97(1) Summary Under Tax Topics- Income Tax Act- Section 97- Subsection 97(1) issuance of partnership units on a drop-down is irrelevant to the ACB of the partnership interest A corporate taxpayer having shopping centres with a cost amount and fair market value of $14M and $130M, respectively, contributes the properties under s. 97(2) to a newly-formed LP in consideration for boot of $14M and units with a FMV of $116M. ...