Search - consideration

As a result, the individual will be required to include the consideration for taxable sales of the complex when determining whether the small supplier threshold was exceeded. ... (For GST purposes, a business and an adventure or concern in the nature of trade result in different considerations.) Where the individual is making a deemed taxable sale in the course of a business (i.e. required to self-supply as discussed below) and the consideration (i.e. fair market value of the complex) triggered on the deemed sale is in excess of $30,000, the individual must register within thirty days of the deemed sale. ...

As a GST/HST registrant, an agent has the obligation to collect tax from the principal on the value of the consideration for its service of acting as agent (such as a commission) where the service is a taxable (other than zero-rated) supply made in Canada. ... In summary, with respect to the election described above, the amendments: •   ensure that amounts collected by the agent as or on account of tax are deemed held in trust by the agent for the Crown separate and apart from other funds of the agent and that the agent is eligible to claim a net tax deduction in respect of a refund or credit given by the agent of excess tax collected or tax relating to a reduction of consideration; •   ensure that the principal and agent are jointly and severally liable with respect to any claims the agent may make with respect to a net tax deduction relating to bad debts or price or tax adjustments relating to the supply, and any failure to pay an amount as a result of the agent erroneously claiming or over-claiming a net tax deduction in respect of a bad debt or a price or tax adjustment; •   ensure that if the agent claims bad debt deduction relating to the supply, the agent and principal are jointly and severally liable for a determined amount in respect of the tax on the supply if all or part of the bad debt is subsequently recovered; •   require the consideration for the supply made on behalf of the principal to be included in the agent's threshold amounts for purposes of determining the agent's reporting periods. ...

The determination of the person who is entitled to an ITC for the tax can be affected by the application of various provisions of the ETA including section 178.8, and requires consideration of all relevant facts. ... A determination of the particular provision under which a supply of a freight transportation service is zero-rated requires consideration of all the relevant facts and agreements. ...

As consideration for the rights granted under the Franchise Agreement, the agreement requires an initial franchise fee of $[…] and royalty fees of […]% of gross sales. ... Consideration for this property and service is payable as [#] installments of $[…] plus any balance due. ...

Under the […]([…][Program]), the Supplier sold to the Investor [#] [Program] packages on [mm/dd/yyyy], and charged GST on the total consideration. ... As such, the Investor would be required to register for the GST/HST (unless considered to be a small supplier) and charge GST/HST on the consideration for the supply of the services (i.e., the transaction fees generated from the POS terminals). ...

The determination of the person who is entitled to an ITC under subsection 169(1) for the tax on imported goods can be affected by the application of various provisions, including sections 178.8 and 180 which are explained below, and requires consideration of all relevant facts. ... The determination of whether a non-resident person is considered to be carrying on business in Canada for GST/HST is a question of fact requiring consideration of all relevant facts. ...

The relevant terms of the Contract are as follows: • XXXXX of the Contract XXXXX, states that for consideration of XXXXX, the Guarantor agrees to issue the Completion Guarantee to XXXXX (the Financier), in form mutually approved by the Guarantor and the Financier, and upon the terms and conditions set forth in XXXXX to the Contract, XXXXX. ... Consequently, the supply to the XXXXX of agreeing to provide the Completion Guarantee to the Financier, for which the Guarantor is paid consideration of XXXXX is not exempt under section 1 of Part VII of Schedule V. ...

An amount paid or payable by a direct seller or an ISC of the direct seller to an ISC of the direct seller because of the volume of purchases or sales of exclusive products of the direct seller or of sales aids and not as consideration for a supply of such a product or sales aid, is deemed not to be consideration for a supply. ...

Intercompany Transactions: Please note that with respect to the intercompany transactions, when a supply of property or a service is made between persons not dealing with each other at arm's length for consideration less than the fair market value of the property or service at the time the supply is made, and the recipient of the supply is not a registrant who is acquiring the property or service for consumption, use or supply exclusively in the course of commercial activities of the recipient, the value of the consideration is deemed to be equal to the fair market value of the property or service at that time for GST/HST purposes. ...

In this same principle, it states “In addition to income and debt service coverage, FRFIs should take into consideration, as appropriate, other factors that are relevant for assessing credit risk, such as the borrower’s assets and liabilities (net worth), other living expenses, recurring payment obligations, and alternate sources for loan repayment”. ... [GST/HST] remittance for non-registrants After careful consideration of the facts surrounding the sale and the information provided above, should it be determined that the assignment sale is a taxable sale of real property, then the [GST/HST] will need to be remitted to the CRA. ...