Words and Phrases - "dispose"

a
85
b
44
c
76
d
50
e
38
f
31
g
18
h
14
i
73
j
2
k
2
l
32
m
55
n
25
o
38
p
79
q
3
r
76
s
89
t
46
u
15
v
9
w
22
y
2

Greiner v. The Queen, 84 DTC 6073, [1984] CTC 92 (FCA)

Summary Under
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition
"otherwise disposed of" includes extinguishment on surrender

Stone J.A. found that a surrender of stock option rights by the taxpayer to his employer corporation came within the phrase "otherwise disposed of" in s. 7(1)(b). He noted (at p. 6078) that:

"Those words appear to me to be sufficiently broad as to include an amount received as consideration for the surrender of rights that are thereby extinguished, in contrast with an amount received as consideration for rights that are 'transferred' and, as such, that remain in existence."

Words and Phrases
dispose

The Queen v. Cie Imm. BCN Ltée, 79 DTC 5068, [1979] CTC 71, [1979] 1 S.C.R. 865

Summary Under
Tax Topics - Income Tax Act - Section 13 - Subsection 13(21) - Disposition of Property
disposition by virtue of merger of leasehold interest and freehold

The verb "to dispose" (which should receive the same meaning as the expressions "disposition", "proceeds of disposition" and " disposed of") should be given the broadest possible meaning, and encompasses the idea of destruction or extinguishment. The acquisition by a lessee of the lessor's interest led to the extinguishment or "disposition" of the lessee's leasehold interest for the purposes of Regulation 1100(2) (since repealed). In addition, the transfer of full ownership rights in a building subject to the obligation of the transferee to demolish the building, was a disposition of that building.

Words and Phrases
dispose