Search - consideration

For a consideration of $47,973.50 the appellant acquired an existing cafe business together with an assignment of the lease, to which a value of $32,000 was attributed. ... The question as to whether this amount of $32,000 can ‘‘reasonably be regarded as being the consideration for such disposition’’ can be determined by the evidence which, on this matter, in my view, indicates that the amount of $32,000 is in fact something less than the true value of this leasehold at the time the transaction took place if consideration is given to the fact that when one of Mr. ... In view of the above, it therefore follows that the amount of $32,000 does not appear to me to be an unreasonable consideration for the disposition of the leasehold interest herein. ...

    [19]         On December 2, 2002, Ford U.S. sold all of the shares of Greenleaf to 3929761 Canada Inc. in consideration of $1. ... U.S. tax considerations and internal considerations, whether accounting, economic or otherwise, can in some cases constitute bona fide non-tax purposes. ... Specifically, paragraph 80(2)(g) establishes a presumption that, where a debt is settled as consideration for shares, the amount paid for the debt forgiveness is equal to the FMV of the shares issued as consideration.   ...

This consideration comprised amounts allegedly paid by the Appellant on behalf of Mr.  ... Counsel for the Respondent argued that the Appellant did not pay any consideration to Mr. ... The Consideration, if Any, Paid by the Appellant   [132]    I will now consider the issue of whether the Appellant paid any consideration to Mr. ...

Love were acting without separate interest, and at non arm's length, with respect to all transactions involving the Class E shares referred above, and any shares received as consideration for their disposition, until their final disposition on December 1, 1988 ... The Queen, 2002 FCA 260, 2002 DTC 7112, [2002] 3 C.T.C. 527, the Federal Court of Appeal made the following comments on the use of Technical Notes:   50       Of course, Technical Notes are not binding on the courts, but they are entitled to consideration. ... Woon argues that the religious practices and beliefs of the shareholders are a relevant consideration in the context of the assumptions considered in their entirety. ...

But this consideration gets, at best, only to a finding that farming is "a source of income,” not that it is "a chief source of income,” as required by subsection 31(1) of the Income Tax Act, R.S.C. 1952, c. 148 (am. ...

After reading the Notice of Appeal and Reply to the Notice of Appeal, and after hearing the comments and arguments of the agent for the appellant, Serge Fréchette, I find that the appeal must be dismissed since its only basis and all the elements taken into consideration in its support are frivolous, trivial or even insignificant ...

Akst's client that consideration be given to waiving any interest charges and certainly any penalties in a situation like this. [4]      The appeal is dismissed. ...

Arguments [3]      The Appellant argues that I should take into consideration the spirit and intent of the Act and note that it predates the Home Buyers' Plan provisions of the Income Tax Act. [4]      The Supreme Court of Canada has made it abundantly clear that when interpreting tax statutes, the Court must look at the wording and only if the wording is not clear or ambiguous should the Court look at the spirit or intent of the statute. [5]      Unfortunately for the Appellant, the Act and the income tax provisions are clear and unambiguous. [6]      The argument put forward by the agent for the Respondent on the provisions, before or on the calculator for the Appellant's income for the purposes of the Act, is correct and adopted by me. [7]      The appeal is dismissed. ...

These are not considerations that would justify this Court in interfering with the decision of the Tax Court Judge. ...