Bifalgorithm post · Vente d'un terrain à sa propre société · C. Interpretation of Value in subsection 248(30) of the Act

Advantage Amount

Advantage Amount (Vente d'un terrain à sa propre société · C. Interpretation of Value in subsection 248(30) of the Act) — "Having found that subsections 248(30…

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  • Determining the amount of the advantage for courseware gifts
  • Subsections 248(30) to (32) were found not to apply
  • The Tax Court Judge nevertheless commented on the amount of the advantage in obiter
  • The courseware advantage was said to equal its expected value, rather than its actual fair market value
  • Subsection 248(32) defines the amount of the advantage in respect of a gift or monetary contribution
  • The value is determined at the time the gift or contribution is made
  • The advantage may consist of property, services, compensation, use, or another benefit
  • The benefit may be received or enjoyed by the taxpayer or a non-arm’s-length person
  • The benefit must be consideration for, gratitude for, or otherwise related to the gift or contribution
  • The definition also includes limited-recourse debt determined under subsection 143.2(6.1)
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Advantage Amount

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Vente d'un terrain à sa propre société

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"Having found that subsections 248(30) to (32) did not apply, the Tax Court Judge commented, in obiter, on “the amount of the advantage.” The Judge stated that the amount of the advantage of the courseware was the value that the appellants expected the courseware to have, rather than the fair market value it actually had. Subsection 248(32) defines the amount of the advantage in respect of a gift or monetary contribution as the total of the value, at the time the gift or contribution is made, of any property, service, compensation, use, or other benefit that the taxpayer or a non-arm’s-length person has received, obtained, or enjoyed, or is entitled to receive, obtain, or enjoy, where the benefit is consideration for, in gratitude for, or otherwise related to the gift or monetary contribution. It also includes limited-recourse debt determined under subsection 143.2(6.1)."

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