Search - considered

Both actual receipts and amounts credited but not paid (i.e. accruals) are considered to be income liable to profits tax. ...

While Mrs Venne said in her evidence that she considered herself to be a partner (see transcript 1192) it is clear from the context that she was speaking of a partnership of husband and wife in which she contributed what she could — and it was very considerable — to the success of the business. ...

In dealing with the issue of the true penal consequence Judge Sarchuk continued on page 2455 (D.T.C. 659) with the Lavers, supra decision: The Lavers decision is of particular significance since in his reasons Wallace J. also considered the question of whether the ’’punishment imposed" pursuant to the assessments of the Minister constitutes "true penal consequences" so as to bring the penalties consequent upon assessment proceedings within the prohibition expressed in paragraph 11(h) of the Charter. ...

It is my considered opinion that I have to look at all the elements of the scheme. ...

A liability, as considered in Black and Decker is the best example. However, where the amalgamation changes the very character or persona of a predecessor and that essence or persona is the critical thing that must survive the amalgamation to meet a particular statutory test it seems to me the Respondent has a good argument. ...

In my opinion, when the question as to whether a reimbursement constitutes a benefit is considered from this perspective, it is easier to determine to what extent a reimbursement must be included in or, conversely, excluded from a taxpayer’s income.  ...   ...

There are four categories of transaction to be considered: (a) the 17 original assignments that were not modified. ...

I agree that, in deciding whether or not any activity may be classed as a business under the provisions of s 7(l)(b) of the Assessment Act, all relevant factors regarding an operation must be considered and weighed in order to determine not whether in some general sense the operation is of a commercial nature or has certain commercial attributes, but whether it has as its preponderant purpose the making of a profit. ...

It seems to me, with respect, to be an untenable position that an invalid assessment with no foundation can stand and be enforced simply because the time limit has gone by and thus nobody in law can do anything about it. [12] I have considered in great length a number of the decisions of the Supreme Court of Canada relating primarily to time limits and statutes of limitations across the country (see below). ...

From these different figures appearing in the financial statements, and in particular from the “Supplementary information”, it can therefore be seen that the appellant considered its “Contribution to pre-arrangement fund” to be a subtraction entry or a deduction when computing its income in order to establish its income tax for the disputed taxation year. ...