Amount

Table of Contents

Cases

Gaynor v. The Queen, 91 DTC 5288 (FCA)

Pratte J.A. found in light of the principle that Canadian currency "is the only monetary standard of value known to Canadian law", that it was...

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Locations of other summaries Wordcount
Tax Topics - Income Tax Act - Section 40 - Subsection 40(1) - Paragraph 40(1)(a) - Subparagraph 40(1)(a)(i) different FX spot rates for cost and proceeds 151

Midwest Oil Production Ltd. v. The Queen, 82 DTC 6092, [1982] CTC 107 (FCTD), aff'd 83 DTC 5304, [1983] CTC 338 (FCA)

A crude oil royalty was routinely expressed in money and was, thus, clearly an "amount".

MNR v. Burns, 58 DTC 1028 (Ex Ct), briefly aff'd 59 DTC 1328 (SCC)

The taxpayer, when it sold cottages it had constructed, usually accepted second mortgages from the purchasers which it would subsequently sell at...

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See Also

Gibson v. The Queen, 95 DTC 749, [1996] 1 CTC 2105 (TCC) (Informal Procedure)

The taxpayer transferred his equity in a house to his former spouse in satisfaction of arrears of alimony or maintenance owing to her of $19,946....

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Payment & Receipt payment in kind if agreement as to the amount 81
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(b) 81

Tyoxide Canada Inc. v. The Queen, 93 DTC 1499, [1994] 1 CTC 2569 (TCC)

The entitlement of a taxpayer to a Quebec tax credit came within the broad definition of "amount".

The Queen v. Consumers' Co-Operative Refineries Ltd., 87 DTC 5409, [1987] 2 CTC 204 (FCA)

The references in s. 135(2) to allocations being made at an appropriate "rate" include a nil allocation.

Administrative Policy

10 October 2003 External T.I. 2003-0029995 F - Amount of Stock Dividend

With reference to the situation where a corporation governed by the CBCA declares and pays a stock dividend on its common shares by issuing 100...

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90 C.R. - Q49

Where in accordance with the applicable corporate law the declared amount of a stock dividend is a nominal amount of money, that will constitute...

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IT-67R3 "Taxable Dividends from Corporations Resident in Canada"

Includes discussion of valuation of dividends in kind.

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