Search - consideration

They are therefore left out of consideration. The respondent secondly also seeks to uphold the assessment for taxation purposes under the provisions of paragraph 3(1)(i) and subsection 4(1) of the Estate Tax Act. ... Further, in a case where there has been inadequate consideration, subsection 3(1)(i) charges to tax the value of the assets at the date of the deceased’s death (subject only to a set off for the original, inadequate consideration). ... As consideration she received from Wenonah Investments Limited a promissory note of an amount equal to the full market value of those stocks. ...

It warrants some more detailed consideration here, but at this stage one simplified finding will be sufficient. ... The plaintiffs payments were made as much without consideration as are contributions to a parish church. ... In regard to both modalities of charitable status no material consideration and no tuition fees were charged or given. ...

Schedule “A” attached to the Notice of Re-assessment is a statement listing, among other things, the names of the corporations to which some of the mining properties were sold and the consideration received therefor. ... The consideration for one of those is $50,000 cash and $175,000 in stock. The consideration for the other is $37,500 cash and $100,000 in stock. ...

the second share was acquired on March 30, 1993 in consideration of Mr.  ...   [17]         On January 29, 2001, the appellant suscribed for 38 common shares of Northside for a consideration of $38,000. ...   [18]         Then, on February 22, 2002, the appellant subscribed for an additional 75 common shares of Northside for a consideration of $75,000. ...

Often it is the case that an agent pays consideration on behalf of a purchaser who is liable to pay. Where an agent makes a payment on behalf of a purchaser, the purchaser is considered to have paid that consideration and is therefore the only “ recipient ” of the supply. ... The recipient is the person who is liable to pay the consideration for the service under the agreement for the service. ...

Given that conclusion, the application of subsection 146(10) is automatically triggered and the fair market value (“FMV”) of the shares at the time of their acquisition must be included in the Appellant’s income. [12] (2) Were 629900’s shares acquired by the Appellant’s self-directed RRSP trust for a consideration greater than their fair market value? ... Having come to that conclusion, I must also conclude, pursuant to subsection 146(9) of the ITA, that the shares of 629900 were acquired by the Appellant’s self-directed RRSP trust for a consideration greater than their fair market value. [44]         Having determined that the shares of 629900 acquired by the Appellant’s self-directed RRSP trust are not a “qualified investment” in an “eligible corporation” and that these shares were acquired for a consideration greater than their fair market value, it is not necessary for me to determine whether the Appellant received out of or under an RRSP a benefit, pursuant to subsection 146(8) of the ITA, to dispose of this appeal. (3) Conclusion [45]         The amount of $5,288.00, representing the FMV of the 5,288 shares of 629900 purchased by the Appellant’s RRSP trust in the 2000 taxation year must be included in the Appellant’s income pursuant to subsection 146(10) of the ITA. Pursuant to subsection 146(9) of the ITA, the difference between the consideration given to acquire the shares ($52,880.00) and the FMV of the shares ($5,288.00) must also be included in the Appellant’s income for that year. ...

“consideration” includes any amount that is payable for a supply by operation of law;... “recipient” of a supply of property or a service means (a) where consideration for the supply is payable under an agreement for the supply, the person who is liable under the agreement to pay that consideration, (b) where paragraph (a) does not apply and consideration is payable for the supply, the person who is liable to pay that consideration, and (c) where no consideration is payable for the supply, (i) in the case of a supply of property by way of sale, the person to whom the property is delivered or made available, (ii) in the case of a supply of property otherwise than by way of sale, the person to whom possession or use of the property is given or made available, and (iii) in the case of a supply of a service, the person to whom the service is rendered,. and any reference to a person to whom a supply is made shall be read as a reference to the recipient of the supply;... ... If no consideration was payable, it must show that a service was provided to it. ...

Chalk, who finalized the permanent residence application based on humanitarian and compassionate considerations. ...   [12]            The application for a visa exemption based on humanitarian considerations is not in itself grounds to delay the removal. ...   [29]            The officer disregarded the emotional and psychological harm that the children will suffer if they leave, dismissing every consideration particular to their case ...

In Mylan, the FCA pointed to the “broad discretionary considerations” involved by the test, one of those being the public interest consideration in proceedings moving “fairly and with due dispatch”. ... The FCA went on to state that this forms part of the factors to be taken into consideration in the assessment of the interest of justice (Coote at para 12). ... The Defendants argue that FC Rule 385 would be of similar effect and that these broad discretionary considerations should also guide the Court in this matter. ...

The conclusion that he drew from his review is that “the question whether the receipt of any consideration at all by a donor vitiates a gift at common law” had not been finally determined (Reasons, at para. 95). [20]   The Tax Court judge then turned to the tax jurisprudence. ... The appellants cite a series of cases in support of their position that the common law has long accepted that a valid gift may be made even when the donor receives some form of benefit or consideration from the donee. ... They also submit that nothing suggests that any form of consideration necessarily vitiates a gift. ...