CRA confirms that purchasing mortgages or conditional sales contracts is not lending

CRA recognizes that purchasing conditional sales contracts or mortgages does not represent a lending activity, so that a corporation whose only business is making such purchases is not a "loan corporation" for purposes of the HST/GST Regulations applicable to SLFIs (selected listed financial institutions).

Neal Armstrong. Summary of CBAO National Commodity Tax, Customs and Trade Section – 2014 GST/HST Questions for Revenue Canada, Q. 19 under Selected Listed Financial Institution Attribution Method (GST/HST) Regulations, s. 26(1).