Search - consideration

CIBC argued that these fees were (1) consideration for intangible personal property (the Miles) that were supplied by Aeroplan, and (2) that such property was exempted from GST as being a supply of “gift certificates.” ... Stratas JA went on to indicate that the Miles acquired by CIBC were deemed under the gift certificate rule (ETA s. 181.2) not to be a supply, so that the fees were not subject to GST, stating (at para. 90): In the commercial world, Miles function as gift certificates. … They are an exchange device because they may be used as consideration for property or services in the same way as money or a gift certificate. Aeroplan accepts Miles as consideration for airline tickets, merchandise or gift cards with few conditions on their redemption. ...

Two days after the ARQ had issued a statement of account to Construction LMA showing that it had failed to remit over $527,000 in sales taxes and employee source deductions, Larocque transferred his residence, which was charged with a hypothec in favor of the Caisse Desjardins to secure various credit facilities owing to the Caisse by Construction LMA (the “bank debt”) to a newly formed trust (of which Larocque was the beneficiary and one of the two trustees) in consideration for the assumption of the bank debt. ... Tremblay JCQ, noted that, in fact, Larocque had continued to service the bank debt, so that the consideration received by him from the trust for the transfer by him was “purely fictitious” and that the purported assumption of the bank debt was a “sham” (TaxInterpretations translation, para. 52). Tremblay JCQ, however, agreed with counsel for the trust that the ARQ could not reverse its assessing position and that “the determination of the value of the consideration must be made at the time of the transfer” (para. 54). ...

A “royalty” was relevantly defined as amounts paid or credited as consideration for the use of or the right to use various listed types of intellectual property, including trademarks. In concluding that the amounts paid by SAPL to PBS were not a royalty, and after discussing the meaning of "consideration for", the majority stated (at para 174): The Commissioner did not dispute that [the concentrate price] was an arm's length price, or a fair price, or that it was not disproportionately high. ... Words and Phrases consideration for derived ...

The Court found that the payment of LMUK to a redeemer was consideration for a supply of services by the redeemer to LMUK itself, rather than representing third-party consideration for a supply of goods or services by the redeemer to the collector. ...

Charter and a subsidiary of Charter lent $625,000 to Franco, and when Franco subsequently fell into financial difficulty the taxpayer repurchased the shares, and was assigned Charter's loans, in consideration of for the sum of $1.00 and entering into an agreement to jointly and severally guarantee with Charter certain libilities of up to $200,000, once the liabilities of Franco had been reduced to that level. ... Although the taxpayer received the repayments rather than being paid salary, the trial judge had found that "at the time of acquisition [of the loans], assignment of the loans to him was of little interest to him and not a primary consideration," and the taxpayer's gain should be considered to have arisen fortuitously rather than as a result of a carefully realized plan for the realization of speculative profits. ...

The Queen, 2013 TCC 53, aff'd 2013 FCA 260-- summary under Subsection 153(1) Summary Under Tax Topics- Excise Tax Act- Section 153- Subsection 153(1) recoupment of development charges included in consideration The registrant ("Mattamy"), which was a housing developer, paid municipal development levies at the time it entered into a subdivision agreement with the municipality, or when the municipality issued building permits. ... Accordingly, the recoupment of the development charges by Mattamy was part of the sales consideration received by it, and was subject to GST. ...

These amounts were found to be part of the taxable consideration for such home sales, with the result that Mattamy was found to have been understating the sales price to the purchasers. As the new housing rebates ("NHRs") of the purchasers (which they had assigned to Mattamy and which it had rebated to them as contemplated in s. 234(1)) increased as the sales price increased to $350,000, this increased taxable consideration increased the NHRs which could have been claimed on some of the sales. ...

In particular, it acted as agent of Farmers Mutual in arranging for Farmers Mutual to acquire the freehold mineral rights and interests as lessor of farmers, who had previously leased their mineral rights, in consideration for Farmers Mutual issuing treasury shares to the farmers. Where the farmers had not already leased their mineral rights, the taxpayer would itself enter into a lease (as lessee) with the farmers of the mineral rights, with the farmers then transferring their interests as lessors to Farmers Mutual in consideration for shares of Farmers Mutual. ...

MNR, 72 DTC 6232, [1972] CTC 265 (FCTD), briefly aff'd 74 DTC 6129 (FCA)-- summary under Subsection 6(3) Summary Under Tax Topics- Income Tax Act- Section 6- Subsection 6(3) The taxpayer sold their shares pursuant to a deed of sale that provided that $150,000 was paid at the time of signing the deed of sale as the purchase price for their shares, and that a further $150,000 was payable in ten annual instalments in consideration for the sale by them of their right to engage in the bakery business and their right to use the name "Richstone" in relation to the business for a 25-year period. A further clause stipulated that further consideration for the ten $15,000 instalments was the vendor's covenant not to engage in the bakery business for 25 years within Quebec or Ontario and not to use the Richstone name for 25 years within that territory. ...

The Minister applied the single-supply doctrine to treat the entire amount as consideration for an interest in real property. ... Either way, the consideration paid for the deposit recoveries was not taxable. ...