Search - consideration

The consideration for the purchase of the Lossco Business by Lossco Business LP was paid indirectly by way of set-off against debts owed by the Lossco Group, whether directly or indirectly, to the New Investor Group. 17. ... Pursuant to a Share Purchase Agreement, Taxpayer will purchase all of the issued and outstanding shares of Lossco for nominal consideration. 22. ...

Finally, such a review may also require consideration of the Canada-United States Tax Convention (the "Convention") currently in force between Canada and the US. ... Pursuant to paragraph 4 of Article XVIII of the Convention, "annuity" is defined in to mean, "...a stated sum paid periodically at stated times during life or during a specified number of years, under an obligation to make the payments in return for adequate and full consideration (other than services rendered), but does not include a payment that is not a periodic payment or any annuity the cost of which was deductible for the purposes of the taxation in the Contracting State in which it was acquired. ...

Class XXXXXXXXXX special shares which will be non-voting; non-participating; entitled to a non-cumulative dividend of XXXXXXXXXX%; and redeemable and retractable at the fair market value of the consideration received in exchange for those shares. ... As consideration, XXXXXXXXXX will issue a demand non-interest-bearing promissory note to each of Newco XXXXXXXXXX and Newco XXXXXXXXXX having a respective principal amount equal to the aggregate of the redemption amount and fair market value of the shares so redeemed or purchased for cancellation (the "XXXXXXXXXX Note" and the "XXXXXXXXXX Note", respectively). ...

We have brought this to the attention of the Department of Finance for their consideration. ... On the next revision to interpretation bulletin IT-428 "Wage Loss Replacement Plans," consideration will be given to including some additional comment on the shareholder versus employer aspect. ...

The initial dividend will accrue from the first day of the month following the date of the letter granting the rulings herein, notwithstanding that preferred shares will be issued after that date; d. redeemable by XXXXXXXXXX at stated capital plus accrued unpaid dividends at any time; e. retractable by the holder at stated capital plus accrued unpaid dividends after a Retraction Event, and in any event on or after the fifth anniversary of the date of issue; and f. in the event of a liquidation, dissolution or winding-up of Newco, the holders of the preferred shares will be entitled to receive in priority to the holders of common shares an amount equal to the stated capital of the preferred shares plus accrued unpaid dividends on the preferred shares. 31.XXXXXXXXXX will subscribe for preferred shares of Newco for cash consideration equal to the face value, plus all accrued and unpaid interest thereon, of the amount owing by XXXXXXXXXX ("the Debt"). Newco will issue the preferred shares to XXXXXXXXXX The entire amount of the cash consideration from the issue of the preferred shares to XXXXXXXXXX will be added to Newco's stated capital account maintained for the preferred shares. 32.The proceeds resulting from the issuance of the preferred shares to XXXXXXXXXX as described in the previous paragraph will be used by Newco to purchase from XXXXXXXXXX the Debt, along with the related security. ...

Newco will redeem, at their aggregate redemption amount, its Class XXXXXXXXXX preferred shares owned by XXXXXXXXXX and will issue, as consideration therefor, to XXXXXXXXXX a non-interest-bearing demand promissory notes having a principal amount equal to such redemption price (the "Newco Note"). XXXXXXXXXX will purchase for cancellation, at fair market value, all of its shares held by Newco and will issue, as consideration therefor, to Newco a demand non-interest-bearing promissory note having a principal amount equal to the fair market value of the shares of XXXXXXXXXX so purchased (the "XXXXXXXXXX Note"). ...

As sole consideration, Subco 2 will issue to Subco 3 preferred shares with a redemption and retraction amount equal to the fair market value of the shares transferred. The fair market value of the Newco shares will reflect interest rates, the estimated time of utilization of the non-capital losses of Newco and other considerations. ...

Les bulletins d'interprétation demande de fréquentes mises à jour pour prendre en considération les modifications à la Loi, à la jurisprudence et les changements quant à l'interprétation. ... CONCLUSION The Department's system of preparation of interpretation bulletins has been developed over a period of several years to ensure that all bulletins published will accurately reflect the proper technical interpretation of the law while taking into consideration the practical problems of tax administration and the realities of business practices. ...

Finally, such a review may also require consideration of the Canada-United States Tax Convention (the "Convention") currently in force between Canada and the US. ... Pursuant to paragraph 4 of Article XVIII of the Convention, "annuity" is defined in to mean, "...a stated sum paid periodically at stated times during life or during a specified number of years, under an obligation to make the payments in return for adequate and full consideration (other than services rendered), but does not include a payment that is not a periodic payment or any annuity the cost of which was deductible for the purposes of the taxation in the Contracting State in which it was acquired. ...

Par contre, dans une situation où le paragraphe 98.1(1) s’applique, il n’y aurait pas nécessairement double imposition nécessitant la considération d’ajustements. ... Nous sommes d’avis que ce genre de situations ne constitue pas une situation de double imposition prévue au paragraphe 248(28) de la Loi ni une situation visée aux Nouvelles techniques no 9 relativement à la considération d’ajustements. ...