Search - consideration

[T]he terms of an agreement (that is, the treatment agreed upon and reflected in an invoice) between an acupuncturist and patient establish what the acupuncturist is agreeing to provide and what the patient is expecting to receive for the consideration paid. ...

However, if neither supply is considered to be incidental to the other, then it will be necessary to allocate the consideration between the part attributable to the book and the part attributable to the other item. ...

6 October 2017 APFF Financial Strategies and Instruments Roundtable, Q.12-- summary under Subsection 220(3.5) Summary Under Tax Topics- Income Tax Act- Section 220- Subsection 220(3.5) Finance “will consider situations where the application of late-filing penalties creates a disproportionate burden on low-income taxpayers” What are the policy considerations for s. 220(3.5) penalties arising on making late elections as permitted in the Minister’s discretion under Reg. 600 and on making them more equitable, particularly for individuals? ...

28 May 1996 Interpretation File No. 11675-1-- summary under Subsection 124(3) Summary Under Tax Topics- Excise Tax Act- Section 124- Subsection 124(3) interest but not penalty applied retroactively to announced effective date As a result of a proposed amendment to Sched V, Pt VI, s. 28, the "para-municipal" members of the correspondent would be retroactively liable for the collection of GST on supplies of electricity to the municipality for which consideration became due, or was paid without having become due, after April 23, 1996. ...

The rebate is not a reduction in consideration for the supply of electricity, nor is it a reduction to the HST payable in respect of the supply of electricity. ...

X, however, is considered to be a builder in his own right (for example, at the time of entering into the agreement of purchase and sale, he did so for the primary purpose of selling the interest or the house itself), tax would be payable by the Vendor calculated on the value of consideration ($100,000) for the supply. ...

After indicating that s. 231(1.1) effectively indicates that where a supplier is assessed on audit for failure to charge and remit the tax, no bad debt deduction is available for the uncollectible tax where, for example, the customer declared bankruptcy before the audit and resulting assessment, CRA stated: [S]ection 232 does appear to offer a solution where the consideration is reduced. ...

. … Therefore, the value of the consideration for [the Association]’s supplies of memberships is the entire amount charged by [the Association] to the individual members. ...

. … As a result, if, for example, an insurer issues a new home warranty insurance policy to an individual who is buying the new home for his or her place of residence, the fee paid for the new home warranty by the home buyer would be consideration for a taxable supply. ...

For example, consideration would be given to the date on which the charity intends to start making taxable supplies; the existence of proposed contracts for the supply of the property; and other evidence that would support the charity’s intention to make taxable supplies. ...