Search - consideration

The registrant provides evidence satisfactory to the CRA, based on statistical sampling that the calculation of the EPR, as described in paragraph 12 below, takes into consideration the non-qualifying transactions. The registrant will be entitled to claim ITCs for such non-qualifying transactions that are eligible for ITCs, in accordance with subsection 169(1) of the Act, provided the documentary requirements under subsection 169(4) of the Act are met. 5) The exemption from the ITC documentary requirements of subsection 169(4) of the Act will apply to meal and entertainment expenses acquired with procurement cards only where the registrant provides evidence satisfactory to the CRA that the registrant segregates such expenses to take into consideration the ITC restriction imposed under section 236 of the Act. 6) Purchases made with procurement cards subject to the HST rate of 15% must be segregated from those taxable at the GST rate of 7%. 7) Where the registrant has cost centres, divisions, business lines or other categories, the purchases must be segregated by such categories, to determine the eligibility for ITCs and the extent of consumption or use in the course of commercial activities. 8) Procurement card reports are reviewed and authorized by the immediate supervisor of the employee who used the card, the card administrator or by an authorized senior employee of the registrant, other than the employee who used the card, to ensure compliance with the registrant's procurement card policy. 9) The CRA has received written confirmation from the registrant's external auditor that their internal controls for procurement cards purchases are reliable. 10) The registrant has provided, along with its request for exemption, electronic data showing purchases made with procurement cards for the year preceding the request, for a sample period. ...

Legislative reference: Definition of “consideration” in subsection 123(1) and subsection 153(1) of the Excise Tax Act National coding system file number(s): 11725-8 Effective date: January 1, 1991 for GST and April 1, 1997 for HST Note: Please note that the following Policy Statement, although correct at the time of issue, may not have been updated to reflect any subsequent legislative changes. ... As such, GST/HST is exigible on the subsequent reimbursement by the client (to the extent that GST/HST is exigible on the consideration for the service provided by the lawyer to the client). ...

Similarly, section 156 generally permits certain corporations that are closely related to jointly elect to treat certain taxable supplies made between them as having been made for no consideration. ... Proposed amendments to section 156 Section 156 generally permits certain corporations and Canadian partnerships that are closely related to jointly elect to treat certain taxable supplies made between them as having been made for no consideration. ...

For reporting periods that begin before January 1, 2016 and end after December 31, 2015, the remittance rates and rules that apply before the proposed changes come into effect would continue to apply in respect of a supply for which consideration becomes due or is paid before January 1, 2016. ... For reporting periods that begin before January 1, 2017 and end after December 31, 2016, the remittance rates and rules that apply before the proposed changes come into effect would continue to apply in respect of a supply for which consideration becomes due or is paid before January 1, 2017. 34. ...

Therefore, individual researchers, non-profit organizations and private sector corporations that provide taxable research services must charge, collect and remit the GST/HST on the consideration paid or payable for their services if they are registered, or required to be registered for the GST/HST. ... The hospital authority will not charge the GST/HST on the consideration paid by the pharmaceutical company for these exempt services. ...

Similarly, an automobile lease payment although partially consisting of a financing component is not exempt as consideration for a supply of a financial instrument. ... It is an agreement by which one party, for a consideration, promises to pay money or its equivalent, or to perform an act valuable to the other party upon destruction, loss or injury of something in which the other party has an insurable interest. ...

Some of the information included in the financial statements, such as accruals and the allowance for doubtful accounts, is based on management's best estimates and judgment, with due consideration to materiality. ... More specifically, project alignment with the priorities outlined in the Corporate Risk Profile is one of the considerations used to inform the priority ranking of initiatives. ...

. ¶1.9 (formerly ¶4(d) of IT-128R) has been updated to include a consideration of the amount of the expenditure in relation to a taxpayer’s expenses and annual profits when determining whether an expenditure is made on capital or income account. ... Section 68 was amended to apply in circumstances where consideration received or receivable from a person is in part for a restrictive covenant (as defined by subsection 56.4(1)) granted by a taxpayer. ...

Each method includes the same consideration and review of all relevant information, however it is the timing of the identification of the taxpayer that differs in these two methods. 23. ... Based on the preliminary information provided by the taxpayer as described in paragraph 44, the VDP officer may confirm that there is nothing set out in the information provided that may immediately disqualify the taxpayer from further consideration under the VDP. ...

After submitting a Request, you must inform Competent Authority of any material change in the information or documentation previously submitted as part of, or in connection with, the Request, as well as new information or documentation relevant to the issues under consideration. If you do not provide complete and accurate information or make a misrepresentation then the Competent Authority may suspend or terminate its consideration of your Request. 13. ...