Search - considered

This salary was considered an expense of the Centre. The taxes and permits related to the practice of chiropractic were deducted from the Appellant's income, while the total claimed for this expense item was deducted from the Centre's income. ...

I considered recalling counsel and I would have done so had the possible obligation if any, to the company and the creditors by a director, officer and shareholder in the position of Mr. ...

He could not perform his duties without this office in his home. [12]     He retained his wife as an assistant and he considered her to be an essential part of his work. ...

I have also considered the fact that the plaintiff has had to go into debt and sold assets in order to maintain herself and her daughter.     ...

Analysis: Subsections 55(2) and 248(10) provide as follows: 55. (2) Where a corporation resident in Canada has after April 21, 1980 received a taxable dividend in respect of which it is entitled to a deduction under subsection 112(1) or 138(6) as part of a transaction or event or a series of transactions or events (other than as part of a series of transactions or events that commenced before April 22, 1980), one of the purposes of which (or, in the case of a dividend under subsection 84(3), one of the results of which) was to effect a significant reduction in the portion of the capital gain that, but for the dividend, would have been realized on a disposition at fair market value of any share of capital stock immediately before the dividend and that could reasonably be considered to be attributable to anything other than income earned or realized by any corporation after 1971 and before the transaction or event or the commencement of the series of transactions or events referred to in paragraph (3)(a), notwithstanding any other section of this Act, the amount of the dividend (other than the portion thereof, if any, subject to tax under Part IV that is not refunded as a consequence of the payment of a dividend to a corporation where the payment is part of the series of transactions or events) (a) shall be deemed not to be a dividend received by the corporation; (b) where a corporation has disposed of the share, shall be deemed to be proceeds of disposition of the share except to the extent that it is otherwise included in computing such proceeds; and (c) where a corporation has not disposed of the share, shall be deemed to be a gain of the corporation for the year in which the dividend was received from the disposition of a capital property. 248. (10) For the purposes of this Act, where there is a reference to a series of transactions or events, the series shall be deemed to include any related transactions or events completed in contemplation of the series. ...

In our view, if in fact all other conditions of paragraph 6(6)(a)(i) are met, the allowance which is based on an estimate of the costs of such board and lodging in the surrounding area would be considered reasonable and therefore non-taxable regardless of the amount actually spent by the employee ...

Analysis   [28]     As a preliminary matter, I note that the question of YSI’s ITC entitlement does not address what could be considered a more fundamental issue in this series of transactions, and that is whether the supply to Platinum is taxable or whether it is zero-rated. ...

There was no argument before me on this issue, however, and it is a point of law that would be best considered after arguments from counsel ...

The overall statutory context and language of paragraph 8(1)(g) was considered by Justice Bonner in the 1980 decision of Derrien v Minister of National Revenue, 80 D.T.C. 1751. ...

., 74 DTC 6352, the Federal Court of Appeal considered subsection 12(3) of the 1952 Act as it applied to the 1960 taxation year. 12(3)     In computing a taxpayer's income for a taxation year, no deduction shall be made in respect of an otherwise deductible outlay or expense payable by the taxpayer to a person with whom he was not dealing at arm's length if the amount thereof has not been paid before the day one year after the end of the taxation year; but, if an amount that was not deductible in computing the income of one taxation year by virtue of this subsection was subsequently paid, it may be deducted in computing the taxpayer's income for the taxation year in which it was paid. [11]     In 1959, Oryx had purchased from a non-arm's length vendor a parcel of land for $174,000 paying only $1,000 in cash with the balance payable over 10 years. ...