income

Before accepting the applicant’s evidence that the receipts at issue were capital transfers in the nature of family gifts from Vanuatu and did not constitute income under ordinary concepts, Logan J referred (at para.

The taxpayer (PCS), which produced and sold potash from mines in Saskatchewan, was subject to both a profit tax and to the making of “base payments” under the Mineral Taxation Act, 1983 (Saskatchewan), which was computed by applying a tax rate of tax determined in accordance with the PPTS multiplied by the number of tonnes of potash sold or otherwise disposed of, minus certain permitted deductions. Since the base payment was calculated based on the quantity of potash that was sold, it was only incurred by PCS as a result of sales of potash by it.

An Australian-resident individual was taxed at the 15% long-term U.S. capital gains rate on his gains on the disposal of U.S. oil and gas drilling rights. For Australian purposes a 50% discount was applied to the capital gain before imposing tax at a rate of around 45% on it.

The taxpayer, which acted as agent for underwriting members of Lloyd's of London in the writing of workman's compensation, employer's liability and occupational disease insurance, was entitled to receive, at the time each contract took effect, an "advance fee" based on the estimated amount of the payroll of the employer for a specified period (generally six months or a year), and at the end of the specified period was entitled to an "additional fee" computed on the actual remuneration earned by the employees during that period.

The word "income" in s. 63(2) require the existence of a positive sum. Consequently, where the supporting person had no income, s. 63(2) did not apply.

Two brothers (the "Mazzoccas"), who constituted two of the three equal shareholders of a corporation ("Tri-M"), transferred their shares of Tri-M on a partial rollover basis to two holding companies and caused the two holding companies to purchase the shareholding of the third shareholder ("Manley").