Search - considered

Smith Appearances: Counsel for the Appellant: Geneviève Léveillé Rémi Danylo Melody Bond Counsel for the Respondent: Yanick Houle Julien Wohlhuter   ORDER WHEREAS the Respondent filed a motion to amend the Reply to the Notice of Appeal (the “Motion”), relying on section 54 of the Tax Court of Canada Rules (General Procedure); AND HAVING considered the oral and written submissions of the parties; AND in accordance with the attached Reasons for Order; THE COURT ORDERS that the Motion shall be granted as follows: 1. ... Pouliot stated that the CRA never had the information on why one account would be considered CEEs (which she referred to as “backups”). [37] The CRA eventually received the backups for the 2013 taxation years in November 2018. ... Discussion and Analysis [77] Having considered the affidavit and testimonial evidence as well as the written submissions of the parties, I find that the proposed amendments merely clarify the existing Reply to the Notice of Appeal and do not constitute a new or additional basis or argument. ...

Moreover, the Crown limited its argument to subsection 55(2) and, accordingly, I have not considered any other arguments with respect to the Profitco Transaction, including the possible application of the general anti-avoidance rule. [43]     Subsection 55(2) is an anti-avoidance provision aimed at "capital gains strips. ... Although I have concluded that a contextual interpretation favours VIH Logging, it remains to be considered whether paragraph 55(5)(c) can be interpreted in this manner. ... I have not considered the application of subsection 55(2) to this amount in detail but it would seem reasonable that subsection 55(2) be applied to it. ...

By December 14, 1983 the Mark Creek account was classified by the bank as “an unsatisfactory, non-productive loan" although Jones still considered it had some potential. Internal memoranda indicate that in January 1984 two options were being considered by the bank, receivership within 90 days or deferral of any action for one year or longer. ... He made it clear that Coopers & Lybrand could not be considered to be a "person" for the purposes of that section. [10] It appears generally accepted that these cases, and in particular Coopers & Lybrand, supra, led to enactment of the provisions of subsections 153(1.3) and (1.4). ...

The appellant notes that the value of the convertible securities and the Vidéotron common shares was the same, and that the Commission des valeurs mobili ères du Québec considered the two types of securities to have the same effect. ... They note that the 8855 shares were considered taxable Canadian property before the transaction and therefore would not have been subject to the deemed disposition in section 128.1. ... This was a well-considered scheme adopted on the advice of professional advisers after other means of extraction of the undistributed income (…)   [52]            O n this basis, I would allow the appeal.       ...

Mr Anderson on behalf of the appellant testified that the appellant considered that there was no value to the goodwill and accordingly so provided in the agreements. ... That would be the test applicable to any purchaser of the physical assets but not to the appellant in view of the peculiar value of those assets to the appellant when considered in conjunction with the motivation of the appellant. ... In so stating I have not overlooked the fact that the vendors signed the agreements but it is my considered conclusion that the appellant was the dominant party in such allocation of prices to the depreciable property and that the vendors passively acquiesced thereto secure in the knowledge that the sum total met their prices for their businesses. ...

If the money adds to the financial capital then the payment of interest on that loan will be considered to be a payment "on account of capital". ... The first matter to be considered, in deciding whether a payment is of a capital or of a revenue nature, is what was the character of the advantage sought by the payment: Sun Newspapers Ltd. and Associated Newspapers Ltd. v FCT, supra, at (AITR) 413; (CLR) 363. The question has to be considered from a practical and business point of view: see FCT v. ...

Arnaud’s RRSP, I will address the issue of whether the shares could be considered to be validly issued from treasury apart from this agreement ...   [34]            I have also considered whether Jack St. Arnaud’s RRSP may have acquired a right to a return of the money. ...   [41]            Since a person can acquire shares of a corporation from either an existing shareholder or from treasury and since the reassessment was based on Harry Braun’s RRIF and Albert Patenaude’s RRSP having acquired shares of Cuatro, I have considered whether the record would support a finding that the shares of Cuatro could be otherwise considered to be validly issued to this RRIF and RRSP from treasury. ...

If devotion of its resources in the manner prescribed by the section is to be considered the only test to which a charitable organization is answerable, the statute might well be found rather difficult if not impossible to administer. ... It is true that the classification of an activity requires that it be considered in relation to the reason for which it is carried on, but nevertheless it is not to be confused with the intention of the actor; the activity is in the real and concrete world, not merely in the minds of the individuals. ... But the point I really wish to make here is that, to be assigned validly and usefully to one of the four headings of the classification, activities must necessarily, it seems to me, be considered with respect to their immediate result and effect, not their possible eventual consequence. ...

Such skills include judgement, intuition, experience and common sense. [29]     My conclusion that the non arm's length electricity contract between Deer Lake and Corner Brookshould not be considered in determining the fmv of the Deer Lake shares is not a conclusion of law nor is it based particularly on expert opinions. ... Ontario Municipal Employees Retirement Board, 2004 DTC 6224, in which Cumming J. considered the effect on the valuation of shares of the Canadian company of an unfavourable commercial arrangement between the Canadian company and its American parent in the context of an oppression action. ... Whether Tuxedo Holding and Teleglobe are reconcilable is something that may have to be considered on another occasion. ...

The difference of $259,820.23 was considered to be ‘‘profit’’ for the taxation year 1951. ... The problem will, I think, be made clearer if a specific example is considered. ... The point in issue now was never considered and, because of that fact, I do not think that either case is of any real assistance in determining the issue in the present appeal. ...