Words and Phrases - "receivable"
20 December 2002 External T.I. 2002-0164735 F - PRODUIT DE DISPOSITION ACHALANDAGE
Summary Under
Tax Topics - Income Tax Act - Section 14 - Subsection 14(5) - Cumulative Eligible Capital - Variable Efull potentially receivable amount must be recognized, notwithstanding subsequent possible downward adjustment
On a sale of the business of a pharmacist, the goodwill value of $750,000 (payable in 72 equal monthly instalments) is based on the number of...
Words and Phrases
receivableLocations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(g) | s. 12(1)(g) applicable to incremental pharmacy sales price for goodwill based on volume of prescriptions for post-sale years | 110 |
9 July 2003 External T.I. 2003-0183675 F - VENTE D'UNE LISTE DE CLIENTS
loss under s. 24(1)(a) where maximum sales price (equaling FMV) for sold client list is not achieved
In one of the alternative scenarios for the sale of the client list of a retiring professional, the sale price is 25% of the fees earned over the...
Words and Phrases
receivableLocations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 12 - Subsection 12(1) - Paragraph 12(1)(g) | application of s. 12(1)(g) only to excess participating sales price for client list over minimum, or where there is a maximum equaling the client list’s FMV | 369 |
Midwest Oil Production Ltd. v. The Queen, 82 DTC 6092, [1982] CTC 107 (FCTD), aff'd 83 DTC 5304, [1983] CTC 338 (FCA)
Because the word "receivable" relates to a change in custody or possession, not to a change in ownership, a royalty obligation to deliver crude...
Words and Phrases
receivableLocations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 169 | 57 | |
Tax Topics - Income Tax Act - Section 172 - Subsection 172(2) | 57 | |
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Amount | 17 |
Wilson and Wilson Ltd. v. MNR, 60 DTC 1018, [1960] CTC 1 (Ex Ct)
Cameron, J. held that the full amounts covered by interim progress certificates of the supervising engineer became "receivable" for the purposes...
Words and Phrases
receivableLocations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Inventory | 15 | |
Tax Topics - Income Tax Act - Section 9 - Accounting Principles | 25 | |
Tax Topics - Income Tax Act - Section 9 - Timing | 142 |
MNR v. Colford Contracting Co. Ltd., 60 DTC 1131, [1960] CTC 178 (Ex Ct), briefly aff'd 62 DTC 1338, [1962] CTC 546 (SCC)
amount is receivable when an absolute, although not necessarily immediate, right to receive
Holdbacks on contracts for the installation of heating and plumbing systems became "receivable" when the architect's or engineer's certificates...
Words and Phrases
receivableLocations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 9 - Timing | 25 |