Search - consideration

" Therefore the deposits are applied to the consideration due upon the closing of the Sales Transaction and tax is payable on the earlier of the day the consideration for the supply is paid and the day the consideration for the supply becomes due. 5. ... We confirm that the fees paid would be consideration for a taxable supply. As explained above, the consideration is due upon the closing of the Sales Transaction and tax is payable on the earlier of the day the consideration for the supply is paid and the day the consideration for the supply becomes due. ...

You have asked our views on whether the price of such separately-invoiced upgrades form part of the consideration eligible for a section 254 NHR. ... Total Consideration and Elements of the Agreement To correctly account for tax and the NHR, 'total consideration' must be known. ... One might also expect to see agreement on when the supply is to be made and when the consideration is payable. ...

For your information, GST/HST does not apply to a donation where the donation is not consideration for a supply. If a donor receives something of value, the amount of the donation could be considered consideration for a supply. A gift at common law is considered a voluntary transfer of property without consideration. ...

For your information, GST/HST does not apply to a donation where the donation is not consideration for a supply. If a donor receives something of value, the amount of the donation could be considered consideration for a supply. A gift at common law is considered a voluntary transfer of property without consideration. ...

Interpretation Given Based on the information provided, we confirm that under the transitional rules for the HST in Ontario, the HST will only apply to consideration paid for memberships for the 2010 golf season supplied on or after May 1, 2010, to the extent that the consideration relates to the part of the membership period that occurs on and after July 1, 2010. If the consideration for the membership for the 2010 golf season becomes due, or is paid without having become due, before May 2010, the Company will only need to charge GST on the consideration. For any outstanding amounts due on a membership that is sold before May 1, 2010, the day that the consideration becomes due determines how the transitional rules would apply. ...

Interpretation Given Pursuant to subsection 165(1), every recipient of a taxable supply made in Canada shall pay tax in respect of the supply calculated at the rate of 5% on the value of the consideration for the supply. Pursuant to subsection 165(2), every recipient of a taxable supply made in a participating province shall pay in addition to the tax imposed by subsection 165(1), tax in respect of the supply calculated at the rate of tax for that province (i.e., the HST), on the value of the consideration for the supply. ... Where this is the case, the supplier may calculate the tax payable on the total consideration for these supplies instead of calculating the tax separately on the consideration for each supply. ...

A gift certificate is a device (e.g. voucher, receipt, ticket): • that usually has a monetary value or is for a supply of property or service, • that can be redeemed on the purchase of property or a service from a particular supplier; i.e. the supplier agrees to accept the device as consideration, or a part thereof, towards the purchase of property or a service, • for which consideration was given, and • that has no intrinsic value. The vouchers described above are redeemable for goods or services supplied by the merchants, are sold for consideration (i.e., the promotional price) and have no intrinsic value. ... Section 181.2 provides that, for GST/HST purposes, the issuance or sale of a gift certificate for consideration is deemed not to be a supply and, when given as consideration for a supply of property or a service, the gift certificate is deemed to be money. ...

Rather than pay Husband for these assets, Wifeco paid an amount equal to the consideration and GST to Husband's creditors, at Husband's request. 3. ... Under section 168, tax is payable the earlier of the date the consideration was paid or becomes due. Subsection 152(1) deems consideration for a taxable supply to become due on the earliest of: (a) the earlier of the day the supplier issues an invoice in respect of the supply for that consideration or part, and the date of that invoice, (b) the day the supplier would have, but for undue delay, issued an invoice in respect of the supply for that consideration or part, and (c) the day the recipient is required to pay that consideration or part to the supplier pursuant to an agreement in writing. ...