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Class 12 includes low value assets depreciated at a rate of 100 per cent, while Class 14 includes limited-time patents, concessions, franchises, and licences; " commercial activity " means (a) any business carried on by a person, (b) any adventure or concern of a person in the nature of trade, and (c) any activity engaged in by a person that involves the supply of real property or of a right or interest in respect of real property by that person, but does not include (d) any activity engaged in by a person to the extent that it involves the making of an exempt supply by the person, (e) any activity engaged in by an individual without a reasonable expectation of profit, or (f) the performance of any duty or activity in relation to an office or employment; " exclusive ", in respect of the consumption, use or supply of property or a service, means all or substantially all of the consumption, use or supply of the property or service, and "all or substantially all", in respect of the consumption, use or supply of property or a service by a financial institution, means all of the consumption, use or supply of the property or service; " fair market value " of property or a service supplied to a person means the fair market value of the property or service without reference to any tax excluded by section 154 of the Act from the consideration for the supply; " financial institution ", at any time, means a person who is at that time a financial institution under section 149 of the Act; " improvement ", in respect of capital property of a person, means any property or service that is supplied to, or goods that are imported by, the person for the purpose of improving the capital property, to the extent that the consideration paid or payable by the person for the property or service or the value of the goods is, or would be if the person were a taxpayer under the Income Tax Act, included in determining the adjusted cost base to the person of the capital property for the purposes of the Income Tax Act; " individual " means a natural person; (version anglaise seulement) " input tax credit " means a credit claimable by a registrant for the Goods and Services Tax paid or payable by the registrant in respect of the acquisition or importation of any property or service for consumption, use or supply in the course of commercial activities of the registrant; " Minister " means the Minister of National Revenue; " person " means an individual, partnership, corporation, trust or estate, or a body that is a society, union, club, association, commission or other organization of any kind; " personal property " means property that is not real property; " prescribed " means (a) in the case of a form, the information to be given on a form or the manner of filing a form, prescribed by the Minister, and (b) in any other case, prescribed by regulation or determined in accordance with rules prescribed by regulation; " property " means any property, whether real or personal, movable or immovable, tangible or intangible, corporeal or incorporeal, and includes a right or interest of any kind, a share and a chose in action, but does not include money; " public sector body " means a government or a public service body; " public service body " means a non-profit organization, a charity, a municipality, a school authority, a hospital authority, a public college or a university; " real property " includes (a) in respect of property in the Province of Quebec, immovable property and every lease thereof, (b) in respect of property in any other place in Canada, messuages, lands and tenements of every nature and description and every estate or interest in real property, whether legal or equitable, and (c) a mobile home; " recipient ", in respect of a supply, means the person who pays or agrees to pay consideration for the supply or, if no consideration is or is to be paid for the supply, the person to whom the supply is made; " registrant " means a person who is registered under section 241 or who is required to apply to be registered under section 240 of the Act; " sale ", in respect of property, includes any transfer of the ownership of the property and a transfer of the possession of the property under an agreement to transfer ownership of the property; " tax" means the Goods and Services Tax payable under Part IX of the Act. ...

The deemed sale alone does not cause the co-op to exceed the small supplier threshold since the residential complex is capital property of the co-op and, therefore, not taken into consideration for the small supplier threshold. ... Accordingly, the following considerations apply: Commercial activity paras 123(1)(a) and (b) If a person were to sell a building that is being relocated to another legal description, the sale is made in the course of commercial activities if the building is sold in the course of a business carried on by the person or as an adventure or concern in the nature of trade of the person. ... Return to footnote 2 referrer Footnote 3 Section 6 of Part I of Schedule V exempts long-term residential leases and supplies of residential accommodation by way of lease or licence where the consideration does not exceed $20 per day. ...

Broadens certain conditions for making the section 156 election for nil consideration. ... Where a consultant is not acting as an agent of its client, expenses incurred by a consultant that a client has agreed to reimburse are treated as additional consideration payable by the client for the consultant's services. ... The reimbursement for the expense incurred by the consultant as agent is not treated as additional consideration, and the consultant is not eligible to claim an input tax credit for the GST/HST paid or payable on the supply. ...

Written agreement of purchase and sale entered into on or after December 1, 2012 and before April 1, 2015 In these cases, the vendor is required to include in the written agreement, on the date the agreement is entered into, each of the following items: the value of consideration for the housing or interest therein as established for GST/HST purposes; a statement as to whether the amount represented in the agreement as the purchase price includes any of the B.C. transition tax, the GST or the HST and, if the purchase price includes any such tax, a statement that identifies each such tax, the rate of the tax and the amount of the tax; if a GST/HST new housing rebate, B.C. provincial new housing rebate or B.C. transition rebate has been taken into account in determining the amount payable to the vendor under the agreement, a statement that identifies each such rebate and the amount of the rebate; a statement as to whether the builder is a foreign supplier. ... In such cases the vendor is required to include in the statement of adjustments or other document provided to the purchaser, by the time tax on the sale becomes payable, each of the following items: the value of consideration for the housing or an interest therein as established for GST/HST purposes; Where the sale of the housing was grandparented under the rules for the transition to the HST in 2010, Footnote 6 the value of consideration is calculated differently than in other cases. See the answer to question 62 in GST/HST Notice 276, Elimination of the HST in British Columbia in 2013 – Transitional Rules for Real Property Including New Housing for information on determining the value of consideration for GST/HST purposes in these circumstances. a statement as to whether the GST is payable on the sale and the amount of the tax; a statement as to whether the B.C. transition tax is payable on the sale and the amount of the tax; the completion percentage of the housing: immediately before July 1, 2010, immediately before April 1, 2013, and at the time the GST is payable in respect of the sale; the amount of the B.C. transition rebate that the builder is entitled to claim; the amount of the B.C. ...

Similarly, in order for an individual to be eligible for a GST/HST new housing rebate in respect of a laneway house purchased from a builder, the consideration attributable to the laneway house must be less than $450,000. Example 11 Returning to Example 3, suppose the consideration for Monique’s purchase of the property, which includes the principal housing unit and the laneway house, is $1.4 million. The consideration that is reasonably attributable to the principal housing unit is $900,000, while the consideration reasonably attributable to the laneway house is $500,000. ...

However, it must be clearly established that there is SR&ED (refer to section 2.1 of the Eligibility of Work for SR&ED Investment Tax Credits Policy) before any consideration is given to the type of asset resulting from or used in SR&ED. ... Therefore, a pilot plant is sized taking into consideration the SR&ED to be conducted in / on it. ... What is important is that the determination of the type of the asset must take into consideration the facts of the actual use made of the facilities and equipment. ...

Where a supply of one or more financial services together with other properties (excluding capital properties) or services that are not financial services is made for a single consideration, the supply of all properties and/or services is treated as a supply of financial services if: the financial services are related to the other services or properties; it is the usual business practice of the supplier to supply those or similar properties and services together; and the consideration for the financial services (if supplied separately) would be more than 50% of the consideration for all of the properties or services if they had been supplied separately. ... In this case, if more than 50% of the consideration relates to financial services, the supply of all property and services is treated as a supply of financial services. ...

The consideration for the transfer is preferred shares retractable at the option of the parent for an amount equal to the fair market value of the shares of the operating company transferred. ... Similar considerations would apply to other types of estate freezes involving a transfer of property by a parent to a corporation. ... The taxpayer sells this property to an arm's length taxable Canadian corporation in consideration for redeemable shares having a redemption amount equal to the fair market value of the property sold. ...

The consideration has two components: 1) monetary consideration as rent, and 2) consideration from the undertaking of construction or improvements or both that will increase the value of the property. ... The timing of liability rules for supplies by way of lease, licence or similar arrangement apply in respect of the applicable consideration. ... One of the builder's clients supplies the builder with a used generator as part of the consideration for a cottage. ...

Customs determines that this royalty should be taken into consideration when arriving at the value for duty, and the full value of $250,000 is reflected in the transaction value. ... It is possible that price reductions after importation would be taken into consideration for income tax purposes but not for customs purposes. ... If section 48 of the Customs Act (transaction value of the goods) cannot be applied, consideration must then be given to the method of valuation set out in section 49. ...