Search - consideration

A separate formula is used to calculate the consideration within each of two price ranges. ... Formula no. 1 Where the SPNR is not more than $396,200 (meaning that the consideration is not more than $350,000) the value of consideration payable is determined using the following calculation: Consideration = SPNR ÷ 1.132 Example The SPNR is $370,000 and all of the above conditions are satisfied. The consideration would be calculated as follows: Consideration = SPNR ÷ 1.132 = $370,000 ÷ 1.132 = $326,855.12 Once the consideration is determined, the HST payable and the GST/HST new housing rebate in respect of the federal part of the HST may be calculated as follows: HST payable = Consideration × 15% = $326,855.12 × 15% = $49,028.27 GST/HST new housing rebate in respect of the federal part of the HST = (Consideration × 5%) × 36% = ($326,855.12 × 5%) × 36% = $5,883.39 Formula no. 2 Where the SPNR is more than $396,200 and not more than $517,500 (meaning that the consideration is more than $350,000 and not more than $450,000) the value of consideration payable is determined using the following calculation: Consideration = (SPNR + $28,350) ÷ 1.213 Example The SPNR is $500,000 and all of the above conditions are satisfied. ...

A separate formula is used to calculate the consideration within each of two price ranges. ... Formula no. 1 Where the SPNR is not more than $396,200 (meaning that the consideration is not more than $350,000) the value of consideration payable is determined using the following calculation: Consideration = SPNR ÷ 1.132 Example The SPNR is $370,000 and all of the above conditions are satisfied. The consideration would be calculated as follows: Consideration = SPNR ÷ 1.132 = $370,000 ÷ 1.132 = $326,855.12 Once the consideration is determined, the HST payable and the GST/HST new housing rebate in respect of the federal part of the HST may be calculated as follows: HST payable = Consideration × 15% = $326,855.12 × 15% = $49,028.27 GST/HST new housing rebate in respect of the federal part of the HST = (Consideration × 5%) × 36% = ($326,855.12 × 5%) × 36% = $5,883.39 Formula no. 2 Where the SPNR is more than $396,200 and not more than $517,500 (meaning that the consideration is more than $350,000 and not more than $450,000) the value of consideration payable is determined using the following calculation: Consideration = (SPNR + $28,350) ÷ 1.213 Example The SPNR is $500,000 and all of the above conditions are satisfied. ...

The value of the consideration must be calculated before the tax payable can be determined. ... The consideration would be calculated as: Consideration = $325,000 ÷ 1.122 = $289,661.32 Once the consideration is determined the tax payable and the new housing rebate may be calculated. ... The consideration would be calculated as: Consideration = ($460,000 + $28,350) ÷ 1.203 = $405,943.48 Once the consideration is determined the tax payable and the new housing rebate may be calculated. ...

A separate formula is used to calculate the consideration within each of two price ranges. ... The consideration will be calculated as follows: Consideration = $370,000 ÷ 1.132 = $326,855.12 Once the consideration is determined the tax payable and the new housing rebate may be calculated. ... The consideration will be calculated as follows: Consideration = ($500,000 + $28,350) ÷ 1.213 = $435,572.96 Once the consideration is determined the tax payable and the new housing rebate may be calculated. ...

These considerations are discussed in Section 19.3.8, New Housing Rebates and the HST. ... Less than $450,000 (c) total consideration paid to the builder for the unit is less than $450,000, before tax; (For information on items to include or exclude when computing total consideration, see paragraphs 8 to 12.) ... Total consideration Limit paragraph 254(2)(c) 8. For a GST/HST new housing rebate to be paid under section 254, “total consideration” for a qualifying unit must be less than $450,000. ...

These considerations are discussed in Section 19.3.8, New Housing Rebates and the HST. ... Less than $450,000 (c) total consideration paid to the builder for the unit is less than $450,000, before tax; (For information on items to include or exclude when computing total consideration, see paragraphs 8 to 12.) ... Total consideration Limit paragraph 254(2)(c) 8. For a GST/HST new housing rebate to be paid under section 254, “total consideration” for a qualifying unit must be less than $450,000. ...

A separate formula is used to calculate the consideration within two price ranges. ... The consideration is calculated as follows: Consideration = $650,000 ÷ 1.07 = $607,476.64 Once the consideration is determined, the tax payable and the new housing rebate may be calculated. ... The consideration is calculated as follows: Consideration = ($950,000 + $42,500) ÷ 1.12 = $886,160.71 Once the consideration is determined, the tax payable and the new housing rebate may be calculated. ...

It is a general administrative practice of the CRA for another CRA official to review a request and prepare a decision report for the delegated official's consideration, including a recommendation on whether or not granting relief is justified. ... They do not give the minister's delegate the authority to deny a request and exclude it from proper consideration simply because the taxpayer's circumstances do not meet a guideline described in Part II of this information circular. ... During the second review, the taxpayer will have the opportunity to make additional representations for the CRA's consideration. 104. ...

It is a general administrative practice of the CRA for another CRA official to review a request and prepare a decision report for the delegated official's consideration, including a recommendation on whether or not granting relief is justified. ... They do not give the minister's delegate the authority to deny a request and exclude it from proper consideration simply because the taxpayer's circumstances do not meet a guideline described in Part II of this information circular. ... During the second review, the taxpayer will have the opportunity to make additional representations for the CRA's consideration. 104. ...

Total consideration Items to include or exclude from total consideration 6. ... Items to include or exclude from total consideration are discussed in Section 19.3.1, Rebate For Builder-Built Unit (Land Purchased). ... Rebate s 254.1 Calculating the Rebate (Building Purchased/Land Leased) where the rebate does not form part of value of consideration for the building: Fair market value of land, building, and related structures: $374,500 or less Rebate Calculation: 2.34% of the total consideration for the building and related structures to a maximum of $8,750 Example Footnote 4 Assume that total consideration for the building and related structures is $90,000. ...