Search - consideration

It was his view that none of the consideration was allocable or attributable to the licence. ... Appeals dismissed. 1 *The Minister made other shifts in the allocation of the consideration paid pursuant to the agreement. ...

Pursuant to four agreements dated February 1, 1974, the appellant sold resource properties to Mead Petroleums Ltd (hereinafter called “Mead”) for a consideration totalling $84,828.75. Other properties sold pursuant to the agreements brought the total consideration to $95,000. ...

Subsection 160(1) of the Act reads: 160(1) Where a person has, on or after the 1st day of May, 1951, transferred property, either directly or indirectly, by means of a trust or by any other means whatever, to (a) his spouse or a person who has since become his spouse; (b) a person who was under 18 years of age, or (c) a person with whom he was not dealing at arm’s length, the following rules apply: (d) the transferee and transferor are jointly and severally liable to pay a part of the transferor’s tax under this Part for each taxation year equal to the amount by which the tax for the year is greater than it would have been if it were not for the operation of sections 74 to 75.1, in respect of any income from, or gain from the disposition of, the property so transferred or property substituted therefor, and (e) the transferee and transferor are jointly and severally liable to pay under this Act an amount equal to the lesser of (i) the amount, if any, by which the fair market value of the property at the time it was transferred exceeds the fair market value at that time of the consideration given for the property, and (ii) the aggregate of all amounts each of which is an amount that the transferor is liable to pay under this Act in or in respect of the taxation year in which the property was transferred or any preceding taxation year, but nothing in this subsection shall be deemed to limit the liability of the transferor under any other provision of this Act. ... She contends that the Tax Court judge failed to consider the value of consideration given by her on the transfer of the matrimonial home and thereby deprived her of the benefit of subparagraph 160(l)(e)(i) of the Act. ...

Castagna in argument raised the contention that in the event the Respondent’s disallowance on “no reasonable expectation of profit” should prevail, then consideration should be given to allowing the claims as “startup costs”. ... While perhaps, not vital in theses circumstances- a loss on sale ultimately resulted- that lack of consideration by the Respondent might become important in a situation where a gain- perhaps a substantial gain had been realized. ...

As for the prospect of the often elusive “capital gain”, that does not appear to be a factor which can be taken into consideration in these proceedings. The case law available on the subject shows that rental of property — even a portion of the property, which results in losses, leads to consideration of its inevitable concomitant — the question of a “reasonable expectation of profit”, when claims are made in filing income tax returns, and particularly where there is a “personal element” — the utilization of part of the property for owner occupation. ...

It contains the following clauses: AND WHEREAS it is the intention of the purchasers to construct a Personal Care Home on the said lands and premises, above described, subject to approval by the City of Winnipeg and in particular the rezoning thereof; WITNESSETH that in consideration of the premises and of the sum of $1.00 and other good and valuable consideration paid by the purchasers to the vendor, the parties hereto agree as follows: 1.) ...

The value of the rights in terms of money was obviously equal to the consideration which Wellington was obliged to pay to secure them. ... It was made for the benefit of the Appellant since it was the consideration for the long-term disability coverage which the Appellant sought. ...

The appellant stressed the importance of an agreement which the Department allegedly did not take into consideration in its review of their file. ... He explained that he took into consideration the purchase price of the property at $45,000, which he posted as $22,500 for each of the purchasers, one of whom was Ms. ...

Where the statutory discretion has been exercised in good faith, and, where required, in accordance with the principles of natural justice, and where reliance has not been placed upon considerations irrelevant or extraneous to the statutory purpose, the courts should not interfere.... ... In this regard, she has not convinced me either that the statutory discretion was not exercised in good faith or that reliance was placed on considerations irrelevant or extraneous to the statutory purpose. ...

He explains fluently in his appeal: I submit, however, that consideration might be given to treating my case as a special one, for the following reasons: (a) The Olympics games were a “one-off” event which required, for reasons of national prestige, the highest qualities of organization and accuracy of administration. ... I therefore request that, because of the special and individual circumstances surrounding my case, the reasonable and moderate away-from-home expenses I actually incurred be accorded special consideration, and that they be allowed as a deduction from my taxable income for the taxation year 1976. 4.3.3 Income Tax Act: law of equity or not? ...