Subsection 150(1) - Election for Exempt Supplies
See Also
CIBC World Markets Inc. v. The Queen, 2018 TCC 103, rev'd 2019 FCA 147
Administrative services provided by CIBC World Markets Inc. (WMI) to its parent (CIBC) respecting activities carried on by CIBC through its...
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|---|---|---|
| Tax Topics - Excise Tax Act - Schedules - Schedule VI - Part IX - Section 1 | an ETA s. 150(1) election denied zero-rating for services provided to a parent’s non-resident branches | 391 |
Administrative Policy
6 July 2012 Headquarters Letter Case No. 142921
A taxpayer which absent a s. 150 election would not have been a small supplier and had made such election on a valid basis with two financial...
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|---|---|---|
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Registrant | 82 |
GST/HST Memorandum 17-14 Election for Exempt Supplies July 2011
Requirement that election corporations be resident
13. Besides being closely related, corporations wishing to make the election under section 150...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 132 - Subsection 132(2) | 112 |
GST M 300-4-7 "Exempt Supplies - Financial Services"
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 240 - Subsection 240(3) | 19 |
Guide for Providers of Financial Services under "GST Registration and Reporting of Tax"
The election under s. 150 is available to a listed financial institution resident in Canada has registered even if it is not involved in the...
Guide for Providers of Financial Services under "Special Provisions" - "Election for Exempt Treatment of Supplies"
General synopsis.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 205 - Subsection 205(3) | 24 |
Articles
Allan Gelkopf, Zvi Halpern-Shavim, "Five Arbitrary Differences between Corporations and Partnerships for GST/HST Purposes", Sales and Use Tax, Federated Press, Volume XIII, No. 2, 2015, p. 674.
Election only available for corps (p. 675)
. . . for some reason, only corporations can benefit from the section 150 election. The election does...
Michael Firth, Brent Murray, "Section 150 Elections and the GST Rate Cut: Do the Benefits Continue to Outweigh the Costs?", Canadian GST Monitor, July 2008, No. 238, p. 1.
Subsection 150(2)
Cases
CIBC World Markets Inc. v. Canada, 2019 FCA 147
Administrative services provided by the appellant (“WMI”) to its parent (“CIBC”) respecting activities carried on by CIBC through its...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 132 - Subsection 132(3) | a non-resident PE had deemed separate person status sufficient to insulate it from an ETA s. 150 election | 305 |
| Tax Topics - Excise Tax Act - Section 132 - Subsection 132(4) | expansive deemed person language required because 2 PEs involved | 372 |
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Closely Related Group | definition has the effect of extending s. 150 election to exported supplies of Canadian PEs of non-resident insurers | 189 |
| Tax Topics - Statutory Interpretation - Ordinary Meaning | ambiguity can arise on consideration of how the provision interacts with another | 172 |
| Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply | no supplies between PEs of the same person in the absence of s. 132(4) | 70 |
Paragraph 150(2)(b.1)
Administrative Policy
GST/HST Notice No. 303 - Changes to the Closely-related Test
Example
Corporation A and Corporation B have an election under section 150 in place on March 22, 2016. Corporation A owns 90% of the value and...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 128 - Subsection 128(1.1) - Paragraph 128(1.1)(a) - Subparagraph 128(1.1)(a)(i) | exception for special voting matters provided by statute, or where a statute provides a special class vote | 264 |
| Tax Topics - Excise Tax Act - Section 156 - Subsection 156(1.1) - Paragraph 156(1.1)(b) | examples of CBCA exceptions | 104 |
Subsection 150(6) - Credit Unions Deemed to Have Elected
Administrative Policy
18 November 2021 GST/HST Interpretation 232687 - Application of the election under section 150 of the Excise Tax Act to a closely related group
CRA noted that the effect of s. 150(6) in relation to the s. 150 election is that “a credit union does not have to file the election and cannot...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 128 - Subsection 128(1) - Paragraph 128(1)(a) - Subparagraph 128(1)(a)(i) | s. 150 election can accommodate a minority interest of management employees | 496 |
| Tax Topics - Excise Tax Act - Regulations - Closely Related Corporations (GST) Regulations - Section 3 - Paragraph 3(a) | s. 3(a) can accommodate minority employee incentive shares | 218 |
Guide for Providers of Financial Services under "Special Provisions" - "Supplies between Credit Unions"
This provision permits credit unions to exchange taxable supplies with each other on a GST-exempt basis without having to file an election with...