Search - consideration

Firstly, there must be a transfer of property between related individuals (spouses, common-law partners or children younger than 18 years of age) or between non-arm’s length persons and, secondly, the fair market value of the property at the moment of transfer must exceed the consideration paid by the transferee for the transfer of the property. [6]        On July 23, 2010, the appellant acknowledged having received $27,000 from Service d’urgence, in the form of a bank draft from the Promenades de Montarville branch of BMO Bank of Montreal. ... Dany Yon had given her, and that he gave her the duly signed Acknowledgement of Receipt; c)                  the repayment of the loan constitutes valid consideration that excludes the application of section 325 of the ETA. ... In principle, if the loan amount was repaid, the repayment would constitute a legitimate consideration and section 325 of the ETA could not be applied. [49]   The appellant submits that she fully repaid Mr.  ...

Manna on September   21,   2015, without consideration having been paid by Mrs.   ... Manna, without consideration having been paid by Mrs.   Manna. The parties also acknowledged that Mr.   ... Manna, without consideration. The issues are the date of transfer, the fair market value of the Sailboat at the time of transfer as well as those relating to the underlying assessments. 1.   ...

Other Considerations of Fairness [30]   The Delegate found that comparing settlements from other tax shelters or tax schemes held little weight. ... The decision is silent on this issue, and for the Applicants this indicates that the Delegate gave no proper consideration to this submission. ... In my view, the Delegate conducted a holistic review of all the delays and other considerations raised by the Applicants. ...

Singh’s counsel submitted 63 pages of undated submissions and supporting documentation to the Minister’s counsel for the Delegate’s review and consideration. ... Instead, these factors are directly relevant to the Delegates’ s 44(2) referral decisions, and therefore require reasonable consideration even within the Delegate’s “limited discretion”: McAlpin, supra at paras 66 and 95. ... Such was this Court’s approach in Pham, supra at para 16, Apolinario, supra at paras 48-49, and Balan, supra at para 27. [32]   The Minister relies heavily on this Court’s decision in Lin et al to assert that such consideration is unnecessary. ...

Cezair filed updated submissions and documentation for consideration on the redetermination of her application. ... Cezair’s application was not satisfied that there were sufficient H&C considerations to warrant an exemption in her case. ... I am not satisfied there are sufficient H&C considerations to warrant an exemption. ...

Pursuant to subsection 194(4) of the Act, a taxable Canadian corporation was able to designate an amount up to the total of the consideration for which the SRTC Instrument was issued or granted. ... Since the research corporation would only retain $400 of the consideration received from the investor for the issuance of the debt instrument, the research corporation would be required to finance the balance of the required $1,000 expenditure requirement in another manner. 11. ... Upon execution of the supply agreement, and in consideration for Interbio’s agreement to supply the test materials, Proteus was to pay $20,857,500 to Interbio; $17.7 million was paid by cheque and $3,157,500 was paid by demand promissory note bearing an 8 per cent interest rate. ...

In the case at bar, the deed from CMHC as mortgagee to CMHC in its own right was for a consideration of $1. While there is nothing fraudulent about this and it is a well-recognized consideration in the conveyancing of property in non-arm’s length transactions, $1 clearly does not reflect the consideration for which CMHC acquired the property from the plaintiffs. The consideration was the amount of its reserve bid at the mortgage sale namely, $3,764,741.85. ...

The scope of the subsection is not obscure for one does not speak of benefiting a person in the sense of the subsection by making a business contract with him for adequate consideration (at page 212 (D.T.C. 1147)). ... In the present case, the transfers by the appellant of the common shares of Ronlar to his children were certainly made for "adequate consideration”. ... Analysis The Court, after reviewing the evidence, written and oral, and after consideration of counsels’ submissions, finds that the Tandet agreement did not effect a transfer of the Ronlar shares. ...

I agree with my brother Cattanach, J: I feel that the wording of paragraphs 2(1)(d) of The Finance Act of 1894 of UK and 3(1)(j) under consideration are absolutely identical (our section must have in fact been taken verbatim from that Act) and like him I, at least, find some comfort in the above-quoted words of Lord Lorebum, LC. ... All of these objectives were perfectly legal and legitimate, but the parties all knew that the deceased would be purchasing shares from her own resources and converting them into voting share certificates and then transferring those certificates to the trustee for the benefit of her issue without any true consideration. ... The deceased received no consideration for this transfer, thereby constituting a gift of the policy within the provisions of the Real Estate Tax Act, the face value of which was properly included in computing the aggregate net value of property passing on death. ...

Such an inquiry would lead much beyond the compass of the facts in the present case and would necessarily involve considerations of federal authority if the air space ad infinitum is to be the focus of inquiry. ... They turn on considerations that are not relevant to the present case and on constitutional provisions that have no application to the position asserted by Manitoba. ... What remains for consideration on this aspect of the case is a submission based on Bank of Toronto v Lambe, supra. ...