Search - consideration

Interpretation Given Refund of GST/HST under XXXXX Subsection 232(2) states: Where a particular person has charged to, or collected from, another person tax under Division II calculated on the consideration or a part thereof for a supply and, for any reason, the consideration or part is subsequently reduced, the particular person may, in or within four years after the end of the reporting period of the particular person in which the consideration was so reduced, (a) where tax calculated on the consideration or part was charged but not collected, adjust the amount of tax charged by subtracting the portion of the tax that was calculated on the amount by which the consideration or part was so reduced; and (b) where the tax calculated on the consideration or part was collected, refund or credit to that other person the portion of the tax that was calculated on the amount by which the consideration or part was so reduced. ... The reduction in consideration must also relate to the original supply. ... " Subsection 123(1), defines "recipient" to include, in part, where consideration for the supply is payable, the person liable to pay the consideration for a supply. ...

The deposit and the container recycling fee are deemed to be consideration for the supply of the container made to the retailer. ... The deposit and the container recycling fee are deemed to be consideration for the supply of the container made by the retailer. ... The consideration for the supply of the beverage is deemed to be equal to the consideration for the supply as otherwise determined less the returnable container charge. ...

"Consideration", as defined in subsection 123(1) of the ETA, includes any amount that is payable by operation of law. ... Under paragraph 153(1)(a) of the ETA, where the consideration or that part is expressed in money, the value of the consideration is the amount of money. ... Since tax is calculated on the value of the consideration, subsection 168(9), where applicable, will affect the timing of when tax is both payable and collectible. ...

The consideration for the supply of the parking space is not expressed in U.S. currency (i.e., the XXXXX does not indicate on the meters or elsewhere that it will accept U.S. $0.25 coins as consideration for the supply). ... Section 159 provides that where the consideration for a supply is expressed in a foreign currency, the value of the consideration shall be computed on the basis of the value of that foreign currency in Canadian currency, on the day tax is payable, or on such other day, as is acceptable to the Minister. The consideration for the supply of a parking space for a specified period of time in the XXXXX is not expressed in a foreign currency. ...

Where the payment is for the same lease terms to continue (also not a late payment fee for section 161 to exclude it from consideration) one could reasonably conclude that it is paid as further consideration for leasing the site. ... (iii) The payment is consideration for a new supply If the penalties become payable pursuant to a settlement agreement between the parties, then that amount could be regarded as consideration for a new supply. ... (iv) The payment is not consideration for a supply. The penalties imposed by statute which are not payments for agreeing to provide or actual provision of property or a service would generally fall into the category of "not consideration for a supply". ...

Question What, if anything, is the value of the consideration for the supply? ... However, there may nevertheless be some form of consideration in respect of a supply that the supplier regards as a gift. ... This right should be regarded as consideration for the supply of real property. ...

Subsections 153(1) and 123(1) provide definitions of "value of consideration" and "consideration", however it is the definition of consideration contained at subsection 123(1), which is of particular relevance to any discussion of the application of tax to voluntary payments. The definition of consideration states that the word "includes any amount that is payable for a supply by operation of law". ... If the supply that was made, was a taxable supply, the amount of money paid would be treated as consideration and tax would apply. ...

XXXXX provides XXXXX return tickets for travel XXXXX the value for consideration being $890.42. ... The value for consideration of the supply of the tickets to the travellers was $988.42. 5. The difference between the value of consideration for the supply of the tickets was $98.42. ...