Search - consideration

As such, no documentation suggests that anyone other than Mayling was liable to pay the consideration to the Appellant or assume the leases: Y.S.I.’s Yacht Sales International Ltd. v. ... In summary, the conditional words, “where a trust or where an agency exists” do not apply to this appeal. [40]         Mayling remained the purchaser until closing and, as such, obligated to pay the consideration. ... The reassessment is therefore correct. [41]         Beyond this conclusion, there is nothing factually to suggest that at or before the closing date, the asserted Beneficial Owners, Bazis YYC or Plazacorp were considered by the Appellant as obligated to pay the consideration or face suit for failure to do so. ...

The weighing process must be done in the light of three considerations: i) the purpose of the exemption under the Indian Act; ii) the type of property in question; and iii) the nature of the taxation of that property. [17] Dealing with the last two considerations, it should be noted that Gonthier J. himself recognized in Williams that they may not play an important role in determining the weight that should be given to the connecting factors in determining the situs of employment income for the purposes of section 87 of the Indian Act. ... I noted above that the Crown, as part of the consideration for the cession of Indian lands, often committed itself to giving goods and services to the natives concerned. ... Desnomie: it was paid to him in consideration of his services pursuant to an agreement between him and the MIEA. [32] The money that was used to pay his salary came out of funds given to the MIEA pursuant to its agreement with the DIAND, not under an agreement between the DIAND and a band. ...

The relevant subsections of section 183 as amended by S.C. 1993, c. 27, subsections 47(1), 47(2) and 47(3), read as follows: 183.(1) Where at any time after 1990 property of a person is, for the purpose of satisfying in whole or in part a debt or obligation owing by the person to another person (in this section referred to as the "creditor"), seized or repossessed by the creditor under a right or power exercisable by the creditor (other than a right or power that the creditor has under, or because of being a party to, a lease, licence or similar arrangement by which the person acquired the property), (a) for the purposes of this Part, the person shall be deemed to have made, and the creditor shall be deemed to have received, at that time, a supply by way of sale of the property; (b) for the purposes of this Part (other than sections 193 and 257), that supply shall be deemed to have been made for no consideration; (c) where the supply referred to in paragraph (a) is a taxable supply of real property, for the purposes of sections 193 and 257, the tax payable in respect of the supply shall be deemed to be equal to tax calculated on the fair market value of the property at that time; and (d) where the supply referred to in paragraph (a) is a supply of real property included in section 9 of Part I of Schedule V, in section 1 of Part V.1 of that Schedule or in section 25 of Part VI of that Schedule, for the purposes of sections 193 and 257, the supply is deemed to be a taxable supply and the tax payable in respect of the supply is deemed to be equal to tax calculated on the fair market value of the property at that time. 183.(7) For the purposes of this Part, where a creditor who has seized or repossessed personal property from a person in circumstances in which subsection (1) applies makes at any time a particular taxable supply of the property by way of sale (other than a supply deemed under this Part to have been made), the creditor was not deemed under subsection (5), (6) or (8) to have received a supply of the property at an earlier time and no tax would have been payable by the creditor had the creditor purchased the property from the person in Canada at the time it was seized or repossessed, except where (a) the particular supply is made outside Canada or is a zero-rated supply, and (b) the property was seized or repossessed by the creditor before 1994 or was, at the time of the seizure or repossession, specified tangible personal property having a fair market value in excess of the prescribed amount in respect of the property, the creditor shall be deemed (c) to have received a supply of the property immediately before that time for consideration equal to the consideration for the particular supply, and... [6] Subsection 183(7) formerly read: 183(7) Sale of property- For the purposes of this Part, where a creditor who has seized or repossessed property from a person in circumstances in which subsection (1) applies makes at any time a particular taxable supply of the property by way of sale (other than a supply deemed, under any provision of this Part other than section 177, to have been made), the creditor was not deemed under subsection (4), (5), (6) or (8) to have made or received a supply of the property at an earlier time and the creditor provides evidence satisfactory to the Minister that the person has not received and is not entitled to claim an input tax credit or a rebate in respect of the property, the creditor shall be deemed (a) to have received a supply of the property immediately before that time for consideration equal to the consideration for the particular supply; and (b) to have paid, immediately before that time, tax in respect of the supply deemed under paragraph (a) to have been received equal to the amount determined by the formula A- B where A is tax calculated on that consideration, and B is the total of all amounts each of which is an input tax credit or a rebate under this Part that the creditor was entitled to claim in respect of the property or an improvement thereto. [Emphasis added.] [7] The basic rule is that the seizure or repossession of property from a person is deemed to be a supply for no consideration provided it is carried out under an exercisable right or power in order to satisfy a debt or other obligation of the person. ...

  [3]      At the beginning of the hearing, the appellants very clearly stated that only the matter of consideration was in dispute. ... The nature and character of the transfers were absolute vesting control in the appellant and without contractual consideration.   ... The appellants claim there was no enrichment, but have utterly failed to address an absolutely fundamental aspect: the consideration. ...

., showing consideration of $76,000. The transfer stated in part: [3]... in consideration of the sum of $76,000 paid to it by Park Haven Designs Inc. receipt of which is hereby acknowledged, transfer to David Jaques of P.O. ... Park Haven did sign the Offer to Purchase in June 1998, yet the transfer of land reflects the consideration of $140,825 being paid by Mr. ... Unlike the transfer of land of the Slopes House, which indicated consideration was received from Mr. ...

The consideration is $84,090.25 plus taxes, $6,707.75 in GST and $6,664.63 in QST. ... Based on the sales contracts and consideration amounts, the figures no longer added up. ... Prévost reported himself, $18,802, for a consideration of $106,178.36. ...

The term "pension" means periodic payments made in consideration of past services. [...] [12]     The Treaty overrides subsection 212(1) of the Act in two ways: first, it reduces the rate of withholding tax from 25 percent to 15 percent; and second, it exempts "pension" payments from taxation. For the purposes of the Treaty a pension is defined as "periodic payments made in consideration of past services". ... Although these non-taxable amounts are taken into consideration to ensure the appropriate level of tax is imposed on the taxable amounts, the non-taxable amounts themselves are not supposed to be subject to tax. ...

On March 1, 1975, the board entered into an agreement with the appellants, Antosko and Trzop, in which the appellants acquired all of the board's common shares in the company for a consideration of $1. ... This sentence was in response to an argument of counsel for the Minister that the transfer of the debentures had taken place for no substantial consideration. The undertaking to operate the company in a good and business-like manner was part of the consideration, but that cannot be equated to an obligation on the part of the Appellant to work for two years without pay. ...

GENERAL CONSIDERATIONS   [14]            The Excise Tax Act, RSC 1985, c. ... No consideration of the Supreme Court of Canada decision in Dunsmuir v New Brunswick [2008], 1 SCR 190 was made ... There is nothing in this case to suggest that the CRA overlooked or misunderstood any important consideration. ...

The following provisions of The Education and Hospitalization Tax Act, as amended prior to judgment, are relevant to the consideration of this issue: 3. ... [Page 627] In my opinion, the same reasoning which led the Privy Council to conclude, in the Kingcome and Conlon cases, that the respective statutes there under consideration imposed direct taxation is properly applicable to the Act now under consideration and is not rendered inapplicable because the present statute applies to durable as well as to consumable goods. ... It was upon that basis that the Privy Council upheld the New Brunswick legislation under consideration in the Conlon case. ...