Search - considered

The nature of the trade is to be considered. To give an illustration, losses sustained by a railway company in compensating passengers for accidents in travelling might be deducted. ... Crocket, J. considered the test laid down in the Addie case (supra) and approved in the Tata case (supra) binding and held that the expenditure did not fall within it. ... Apart from the decision as to the non-deductibility of the kind of item of expenditure considered in that case, with which we are not here concerned, I think it is clear that, by its adoption of the test in the Addie case (supra) as being applicable in the con- struction of sec. 6(a), the Supreme Court of Canada decided that the words ‘‘for the purpose of earning the income’’ in sec. 6(a) have substantially the same meaning as the words ‘‘for the purposes of the trade’’ in the corresponding rule under the English Act. ...

  [34]            The issue then becomes “whether GMCL should be considered as trustee so that section 267.1 can apply” (paragraph 38 of the Tax Court Judge’s reasons for judgment) ... According to Her, the pension plan trusts are a third person involved and their existence and role should be considered in determining the activity in which the investment management services are used. ... As a matter of law, she says, pension plans are separate and distinct from other businesses, and a pension plan fund cannot be considered as being part of an employer’s business activity ...

Indeed, Mr Hart explained that the only reason for segregating this amount and showing it as a separate item as “Accounts payable—Affiliated companies” instead of including it in the total of “Accounts payable—Trade” is that it is considered desirable in financial reporting for a company of this nature to show precisely the amount of accounts payable which is owing to affiliated companies; otherwise the amount would have been included in the total of trade accounts payable, which they are. ... The provision of the Ontario Act in question in both those cases, with the omission of words not relevant to the point being considered here, is as follows: The paid-up capital of a corporation for a fiscal year is its paid-up capital as it stood at the close of the fiscal year and includes... all sums or Credits advanced or loaned to the corporation by any other corporation, excluding a bank,.... ... These have been considered and stated in a number of authorities. In Pretty v Solly (1859), 26 Beav 606 (53 ER 1032) it is thus stated at page 610: The general rules which are applicable to particular and general enactments in statutes are very clear, the only difficulty is in their application. ...

While the debt constituted by the balance of a sale price cannot be considered a loan or advance, it also cannot be categorized as simply an account payable, since it is represented by a specific financing instrument. ... If this were the only factor considered, it could be concluded that the amount of the “notes payable” was correctly included in the appellant’s capital for the purposes of the tax under Part 1.3 of the Act. ... The arguments in support of that position were that the legal effect of such instruments was not evident as far as their accounting presentation was concerned and that such instruments represented short-term debts and thus could not be considered external capital used to finance a corporation’s operations. ...

Chartered accountants are not, as a rule, engaged in defending themselves against charges relating to infringements of provincial securities legislation and, therefore, such fees would not generally be considered a usual and accepted business expense associated with the provision of professional accounting services.   ... The first part considered the merits of the allegations, which focused on the nature and quality of public disclosure made by the respondents in respect of Blue Range Resource Corporation in the period April 1, 1997, to December 12, 1998.   14.  ... In a letter dated December 22, 2006, the Institute of Chartered Accountants of Alberta informed the appellant that, pursuant to paragraph 101(1) of the Regulated Professions Act (“RAPA”), they considered the Alberta Securities Commission Merits Decision to constitute a complaint under RAPA.   18.  ...

At paragraphs 47 and 60, the Federal Court of Appeal considered the phrase “in lieu of” in the context of the opening words of subsection 212(1):   [47]       However, paragraph 212(1)(d) of the Income Tax Act also includes a payment made in lieu of compensation for the use, in Canada, of property. ... The Appellant submits that the phrase “instead of” is to be preferred in the context of subsection 216(1), especially when subsections 157(2.1) and 218.3(3) are considered. ...   [21]     The Appellant also suggested that the application of subsection 161(7) provides a context within which the section 216 return might be considered. ...

  [5]              My colleague Justice Paris considered a similar appeal in Pan et al v. ... Each university has its own policy but academic remediation or probation usually provides for an extension to the particular resident's residency during which he or she repeats rotations that were considered unsatisfactory ... The Court held that focusing on hours worked and hours spent in studies reasonably distinguished between workers who studied and students who worked: employees working long enough hours to be considered full‑time filled the conventional measure of available time with work. ...

The interpretation of the relationship between paragraphs (a) and (b) was not necessary to the result reached in those cases and, in my view, should not be considered to be a correct statement of the law. ... However, neither the Trial Division nor the Court of Appeal considered the argument, as it was unnecessary to do so, having found that no deduction under subsection 20(14) was available. ... The reasons of the Tax Court judge do not indicate that he considered the alternate argument advanced by the respondent that most of the interest deducted by the appellants did not meet the requirement of subsection 20(14) that it must have accrued prior to the transfer but be payable after the transfer. ...

The evidence of Glatt that the appellant’s shareholders knew nothing of the inclusion of some of the appellant’s land in the subdivision plans, is not too satisfactory nor convincing and these attempts to subdivide must be considered in order to enable a total and complete examination of the conduct of the taxpayer for the purpose of drawing inferences as to what was the original intent of the purchaser. ... According to Fitzsimmons, the real estate agent who sold the land to the incorporators of the appellant corporation of the 600 acres, approximately 200 acres was considered to be tillable. ... They, however, made no sales of these parcels of land although, as already mentioned, they could well have done so in view of the numerous people interested in purchasing lots and the above clause must, under these circumstances, be considered as a simple measure of caution. ...

If property is acquired when there is no business even though one possibility in the mind of the purchaser is to use the property as the capital asset of a proposed business — or the purchaser has not considered how he will use it — a re-sale may be the consummation of a venture in the nature of trade. ... What is the line which separates the two classes of cases may be difficult to define, and each case must be considered according to its facts; the question to be determined being—is the sum of gain that has been made a mere enhancement of value by realising a security, or is it a gain made in an operation of business in carrying out a scheme for profit-making? ... Nevertheless, the principles are each grounded on respectable case law and provide considerable assistance in arriving at considered conclusions. ...