Search - consideration

The Appellant reported $234,453.00 as the consideration of the supply of 3139 to Mrs. ... Unlike the transfer of land of the Slopes House, which indicated consideration was received from Mr. ...   [56]     In Coburn Realty, subsequent conduct was a consideration in determining intention at a relevant point in time. ...

Since the 2003 return was filed on May 3, 2006, the late-filing penalty remains at 17% even though the Minister took into consideration a six-months mourning period. ... Even though the Minister took into consideration a mourning period from August 2004 to February 2005, the late filing penalty remained at the maximum of 17% of unpaid tax. ... In sum, the Minister did not err by relying on irrelevant considerations in making his decision.   ...

These considerations convince me that Ex parte Taunton [43] and decisions like it do not afford a satisfactory guide for passing upon the point now before us. ... No distinction of substance in this respect can be drawn between what is commonly known as a sales tax, a custom duty, an excise duty and the duties imposed by the statute now under consideration. ... He has, upon consideration of facts and circumstances, imposed a liability and has affected the rights of the appellant company [Page 566] and consequently has made a judicial determination. ...

It was not registered for GST and it performed all of its services outside Canada. [27]         According to the contracts between the parties, Funding Corp agreed to arrange for the funding of the DSC Commissions and, as consideration, the Funds agreed to pay Funding Corp a fee (the “Earned Fees”) that accrued in respect of each funded DSC security. [28]         The Earned Fees consisted of a single consideration which had two components: an “Earned DSC Fee” and an “Earned Daily Fee”. ... The Earned Daily Fees were treated as consideration for an imported taxable supply. ... The appellant is making a single supply of livestock and the commission and disbursements charged are part and parcel of the consideration for that supply. ...

Tax in participating province (2) Subject to this Part, every recipient of a taxable supply made in a participating province shall pay to Her Majesty in right of Canada, in addition to the tax imposed by subsection (1), tax in respect of the supply calculated at the tax rate for that province on the value of the consideration for the supply. ... [39] [87]   With respect to the first question, the FCA further stated the following: The first question is simply to determine what services were provided for the consideration received. ...   [92] Furthermore, the Applicant submitted to the Court that the rule of “past consideration is no consideration” applies to this case. [42] The Applicant argued that the services provided to the issuers pursuant to the Program Agreement, and therefore before a Claim Card was signed, were past consideration. ...

(d) where at any time shares of the capital stock of a particular corporation are disposed of to another corporation (in this paragraph referred to as the “acquiring corporation”) for consideration that includes shares of the acquiring corporation’s capital stock and, immediately after that time, the acquiring corporation and the particular corporation are controlled by a person or group of persons who (i) controlled the particular corporation immediately before that time, and (ii) did not, as part of the series of transactions or events that includes the disposition, cease to control the acquiring corporation, control of the particular corporation and of each corporation controlled by it immediately before that time is deemed not to have been acquired by the acquiring corporation solely because of the disposition; [9] For paragraph 256(7)(d) to apply, the following three conditions must be met: (a) shares of the particular corporation (ProCap) must have been disposed of to another corporation (ProRé) as consideration for shares in ProRé; (b) immediately after the disposition, ProRé and ProCap must be controlled by a person or group of persons who controlled ProCap immediately before that time; and (c) the person or group of persons who controlled ProCap immediately before the disposition of shares did not, as part of the series of transactions or events that includes the disposition, cease to control ProRé. [10] To determine whether paragraph 256(7)(d) applies to the transactions carried out, the Court must, in particular, consider under what circumstances a person or group of persons may be considered to have control of a corporation when, in fact, no person individually holds the majority of the voting rights to elect the members of the corporation’s board of directors. ... Analysis [39] The first condition that must be met for paragraph 256(7)(d) to apply is that the shares of ProCap must have been disposed of to ProRé in consideration for shares of ProRé. [40] As previously indicated, ProRé did not technically issue shares of its capital stock as consideration for shares of ProCap. Instead, it issued to the MGIAs certificates of additional interest in its capital in consideration for the Class A shares of ProCap. [41] Although ProRé has no shareholders or share capital, subsection 256(8.1) of the ITA states that, for the purposes of subsections 256(7) and 256(8) of the ITA, (i) a corporation without share capital (in this case, ProRé) is deemed to have a capital stock of a single class, (ii) its members (the MGIAs) are deemed to be shareholders of the corporation and (iii) interest in the corporation of each of these participants is deemed to be the number of shares of the corporation’s capital stock that the Minister considers reasonable in the circumstances, having regard to the total number of participants in the corporation and the nature of their participation. [42] Subsection 256(8.1) of the ITA reads as follows: Corporations without share capital (8.1) For the purposes of subsections 256(7) and 256(8), (a) a corporation incorporated without share capital is deemed to have a capital stock of a single class; (b) each member, policyholder and other participant in the corporation is deemed to be a shareholder of the corporation; and (c) the membership, policy or other interest in the corporation of each of those participants is deemed to be the number of shares of the corporation’s capital stock that the Minister considers reasonable in the circumstances, having regard to the total number of participants in the corporation and the nature of their participation. [43] As appears from paragraphs 34 and 35 of the partial agreement on the facts, it is acknowledged that, in consideration for the transfer by the MGIAs of their shares in ProCap to ProRé, they have seen their respective participation in ProRé ’s capital increased by an amount equal to the market value of each of their Class A shares thus transferred. [44] Under subsection 256(8.1) of the ITA, ProRé is therefore deemed to have issued shares of its capital stock to the MGIAs in consideration for the transfer of the Class A shares that they held in ProCap. [45] In light of the foregoing, the MGIAs are deemed to have received shares of the capital stock of ProRé (the acquiring corporation) in consideration of the disposition of their Class A shares in ProCap (the particular corporation) to ProRé (the acquiring corporation) such that the first condition for the application of subsection 256(7) of the ITA is met in this case. [46] The second condition that must be met for the purposes of paragraph 256(7)(d) of the ITA is that immediately after the disposition by the MGIAs of the Class A shares in ProCap to ProRé, ProRé and ProCap must have been controlled by a person or group of persons that controlled ProCap immediately before that time. [47] As stated above, ProRé had neither capital stock nor shareholders. ...

In so doing, it held that consideration ought to be given to the purpose served by the CPE layer, a non-textile fabric. ... In other words, the Tribunal proceeded from an incorrect interpretation of Note 8(a) that had the effect of ousting consideration of those chapters. [64]   The Tribunal’s error is further exacerbated by the fact that, as contended by the appellant, it took an approach that departs from the analytical framework set out in Sher-Wood and Louise Paris for determining the classification of textile and plastics combinations. ... Therefore, Note 8(a) was not construed in that case as preventing consideration of Chapters 50 to 60 when assessing the goods’ constituent materials. [66]   That approach was reiterated in Louise Paris, which was decided after the Tribunal’s decision in the present case. ...

It is a time which the plaintiff, or its counsel, keeps amputating or ignoring from consideration in this narrative of events. ... In law consideration may be a promise for a promise, but the Court finds that, not in the textbook legal sense, but in the commercial, fiscal sense, the by now sturdy Cal-Gas ave that guaranty without adequate consideration. ... Here, the Court has already found that the consideration, if any, for Cal-Gas’ giving its guaranty of Anderson's and Trennd (1979)'s indebtedness, inter alia, was surely inadequate and so, IT-445 does not need any further consideration by the Court, herein. ...

Counsel next argued that, if the Court were to decide that the shares have been issued, they have not been validly issued as no valuable consideration was received by the company. ... It was also stated that their issuance is void and ultra vires, in view of the complete absence of consideration. ... I will then consider the question of the validity of the consideration given for them. ...

Each is separate and a remission request is subject to its own review and considerations. ... There is no consideration of the fact that this outcome is the result of a statutory limitation in the power granted to the CRA. ... In my view this was a reasonably consideration and finding. [70] And again the Applicant chose not to file supporting documentation, not even a simple statement of her income and expenses, or a statement of her assets and liabilities. ...