Search - consideration

Ruling Given The consideration paid for the supply of Level II ballet to the student from Springfield Private School will be exempt of tax, since it is a mandatory prerequisite for the Level III ballet class. Also, the consideration charged for Level III ballet to the student who is eligible to receive a school credit from Springfield Private School will be exempt of tax. ... Furthermore, the consideration charged for the supply of lessons to the other dance school students who are not eligible to receive a credit will be subject to tax, even if they are in the same dance class as the Springfield student. ...

The lease payment is consideration for a supply of the right to explore for or exploit a mineral deposit and the supply is deemed not to be a supply and any consideration paid or due, in respect of such a right is deemed not to be consideration for the right pursuant to subsection 162(1) of the Act. ...

Subsection 231(1) provides that where a person reports the tax collectible in respect of an arm's length taxable supply (other than a zero-rated supply) on its GST/HST return for the appropriate reporting period, remits the net tax remittable on that return, and subsequently writes off all or part of the consideration and tax for the supply as a bad debt, the person may, in determining its net tax for the reporting period in which the bad debt is written off, deduct an amount determined in accordance with the formula set out in that provision. ... To finance this arrangement, ABC has entered into a written agreement (the "Agreement") with XYZ financing under which ABC assigns, for consideration, receivables from its customers. ... ABC reviewed the situation, attempted to collect the outstanding consideration and tax, and determined there to be no reasonable prospect of collecting any part of the receivable from Echo. ...

For example, this could occur when: a collection has been suspended because of an inability to pay caused by the loss of employment and the taxpayer is experiencing financial hardship; a taxpayer is unable to conclude a payment arrangement because the interest charges represent a significant portion of the payments; or payment of the accumulated interest would cause a prolonged inability to provide basic necessities (financial hardship) such as food, medical help, transportation, or shelter; consideration may be given to cancelling all or part of the total accumulated interest. Consideration would not generally be given to cancelling a penalty based on an inability to pay or financial hardship unless an extraordinary circumstance prevented compliance, or an exceptional situation existed. For example, when a business is experiencing extreme financial difficulty and enforcement of such penalties would jeopardize the continuity of its operations, the jobs of the employees, and the welfare of the community as a whole, consideration may be given to providing relief of the penalties. ...

For donations of publicly traded securities, the inclusion rate of zero is extended to any capital gain realized on the exchange of shares of the capital stock of a corporation for those publicly listed securities donated when: at the time they were issued and at the time of disposition, the shares of the capital stock of a corporation included a condition allowing the holder to exchange them for the publicly traded securities; the publicly traded securities are the only consideration received on the exchange; and the publicly traded securities are donated within 30 days of the exchange. ... At that time, the amount of the gift that you may claim is generally equal to: where the option is exercised by the qualified donee, the FMV of the underlying property minus any consideration that you receive from the qualified donee for the property and the option; or where the option is sold by the qualified donee, the lesser of: the FMV of the underlying property; and the FMV of any consideration, other than a non-qualifying security of any person, received by the qualified donee for the option, minus any consideration that you receive from the qualified donee for the option. ...

A successor employer who has acquired all or part of a business, and who has immediately succeeded the former (predecessor) employer as the new employer of an employee, may, under certain circumstances, take into consideration the CPP/QPP, EI, and PPIP deductions already withheld by the previous employer and continue withholding and remitting those deductions as if there were no change in employer. ... You cannot take into consideration any deductions taken by the previous employer. ...

In addition, for applications made on or after March 29, 2012, the promoter may sell, issue, or accept consideration in respect of the tax shelter only for the calendar year designated by the Minister as being applicable to the identification number. ... As such, a promoter will need to obtain a new identification number for a tax shelter before selling, issuing or accepting consideration in respect of that tax shelter if the previous number is no longer valid. ...

However, if the supplier's objective is to provide several properties or services, then it is unlikely that the provision of one of the properties or services would be regarded as incidental to the provision of any other. 2) Is the value of consideration charged for a particular property or service provided together with other properties or services the same as, or only marginally different from, what the value of the consideration for the particular property or service would be if it were provided alone? ... The NPO supplies the two tickets together for a single consideration of $81.00. ... Therefore, the consideration charged for both tickets is only marginally different from the amount the NPO would charge if it was only supplying the ticket to the performance. ...

If the above conditions are satisfied, the GST in respect of the supply made under the varied, altered, or new agreements will be calculated at the rate of 7% on any part of the consideration attributable to any part of the property or service. ... If the above conditions are satisfied, the GST in respect of the supply made under the varied, altered, or new agreements will be calculated at the rate of 6% or 7% (as the case may be) on any part of the consideration attributable to any part of the property or service. ... If the above conditions are satisfied, the provincial part of the HST in respect of the supply made under the varied, altered, or new agreements will be calculated at the tax rate of the participating province that would have been calculated in respect of the supply made under the original agreement on any part of the consideration attributable to any part of the property or service. 25. ...

This total does not include consideration attributable to goodwill, supplies of financial services or supplies by way of sale of capital property of the person or associate. ... Information on the timing of liability for consideration will be available in Chapter 3, Tax on Supplies Public service bodies Form GST 31 s 129 13. ... The consideration for inter-branch or inter-divisional supplies should not be included in the small supplier threshold calculation because such transactions are deemed not to be supplies. ...