A lump sum received by the taxpayer, who was an investment advisor employed by a Canadian securities firm, on the termination of his employment was found to constitute consideration for his covenant (contained in the termination agreement) not to solicit clients given that "the non-solicitation covenant is at the heart of the termination agreement, which makes no mention of any sale of assets" (para. 16).
Topics and taglines
Topic
Tagline
non-solicitation covenant taxable
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
338458
Extra import data
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"field_legacy_header": "<strong><em>Morissette v. The Queen</em></strong>, 2008 DTC 6513, 2007 FCA 16 <strong>[non-solicitation covenant taxable]</strong>",
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