receivable

Because the word "receivable" relates to a change in custody or possession, not to a change in ownership, a royalty obligation to deliver crude oil to the Alberta government (or its agent) that already belonged to it gave rise to an amount being receivable by it. The amount receivable is not reduced by available Alberta drilling incentive credits.

Because s. 12(1)(o) taxes the producer, not the (Alberta) owner, of the petroleum, it does not contravene the constitutional prohibition against the taxation of provincial property.

Cameron, J. held that the full amounts covered by interim progress certificates of the supervising engineer became "receivable" for the purposes of the application of s. 85B(1)(b) to long-term sewer installation contracts having a fixed price per lineal foot of work done, notwithstanding that 10% of the amounts covered by the interim certificates were required to be held back until the time that the project was certified to have been completed. "Parliament has extended somewhat the ordinary concept of 'income' in relation to a business in which property is sold or services rendered and ...

Holdbacks on contracts for the installation of heating and plumbing systems became "receivable" when the architect's or engineer's certificates were executed, thereby resulting in an absolute entitlement of the taxpayer to receive the holdbacks at a later due date. "[I]t is not enough that the so-called recipient have a precarious right to receive the amount in question, but he must have a clearly legal, though not necessarily immediate, right to receive it."