bonus

The taxpayer (“Oldcastle”), which was a leading producer of concrete building products, entered into an employment contract in 2004, with a former shareholder and principal of the business (“Castonguay”) who now was no longer a “specified employee,” for Castonguay to direct a research centre (with a staff of over 25) for the development of new and improved building products.

In finding (in the context of what now are ss.18(1)(a) and 78(3)) that accrued remuneration was not a "bonus" Grant D.J. stated (p. 5400):

"A bonus is described in the Shorter Oxford English Dictionary as: 'a boon or a gift over and above what is normally due; a premium for services rendered or expected; an extra dividend paid out of surplus profits.'No part of such salary so fixed was in any sense a gift as the services were rendered each year on the understanding that such procedure will be followed."