Search - consideration

We were also asked for our opinion as to the timing of the liability for tax with respect to the consideration paid. ... Consideration The correspondence to us describes the consideration given by XXXXX for the supply by the dealer of the exclusive right to supply as an amount of money that is forgivable loan but the position has been taken that the amount of money is not a financial instrument and that it is consideration for a taxable supply and therefore subject to tax. ... To the extent that XXXXX prepays consideration, it is not required to pay a rate per XXXXX as XXXXX makes its XXXXX purchases. ...

Paragraph 153(1)(b) states that where the consideration given is other than money, the fair market value of the non-monetary consideration must be used as the base on which tax is to be paid. ... Under subsection 168(1), tax is payable on the earlier of the day consideration is paid and consideration becomes due, in respect of a taxable supply. In the case of a barter transaction where the consideration being given is not money, subsection 152(3) states that where consideration that is not money is given or required to be given, consideration that is given shall be deemed to be paid and consideration that is required to be given is deemed to be required to be paid. ...

If this supply is for no consideration, and is conducted at arms length, no GST would be collectible. ... Specifically, under subsection 181(4) of the ETA, the value of consideration for the supply will be deemed to be equal to the amount, if any, by which the value of consideration for the supply as otherwise determined exceeds the value of the tokens exchanged. ... Subsection 181(5) of the ETA deems the amount paid not to be consideration for a supply. ...

The consideration on which the Dealer must collect GST/HST is the sale price to the FinanceCo. 4. ... Subsection 168(1) of the ETA states that tax in respect of a taxable supply is payable by the recipient on the earlier of the day the consideration for the supply is paid and the day the consideration for the supply becomes due. ... The security deposit is not consideration for the supply of the leased vehicle at the time it is paid. ...

The Member Discount reduces the consideration payable to each Supplier by each Member. ... Under subsection 232(2), where a particular person has charged to, or collected from, another person tax calculated on the consideration or a part thereof for a supply and, for any reason, the consideration or part is subsequently reduced, the particular person may, in or within four years after the end of the reporting period of the particular person in which the consideration was so reduced, (a) where tax calculated on the consideration or part was charged but not collected, adjust the amount of tax charged by subtracting the portion of the tax that was calculated on the amount by which the consideration or part was so reduced; and (b) where the tax calculated on the consideration or part was collected, refund or credit to that other person the portion of the tax that was calculated on the amount by which the consideration or part was so reduced. ... Where consideration for the supply is payable under an agreement for the supply, the recipient is the person who is liable under the agreement to pay that consideration. ...

Since the consideration for that single bedroom is less than $20 per night, the supply would be exempt from XXXXX. ... It is the consideration for the supply of the residential unit that determines the tax status of the supply. ... If it is not possible for XXXXX to determine the consideration it is charging for each room, we would consider the room charge to be the total consideration for the supply divided by the number of rooms. ...

These two supplies constitute consideration for each other. Subsections 153(1) and (2) provide: 153(1) Subject to this Division, the value of the consideration, or any part thereof, for a supply shall, for the purposes of this Part, be deemed to be equal to (a) where the consideration or that part is expressed in money, the amount of the money; and (b) where the consideration or that part is other than money, the fair market value of the consideration or that part at the time the supply was made. 153(2) For the purposes of this Part, where (a) consideration is paid for a supply and other consideration is paid for one or more other supplies or matters, and (b) the consideration for one of the supplies or matters exceeds the consideration that would be reasonable if the other supply were not made or the other matter were not provided, the consideration for each of the supplies and matters shall be deemed to be that part of the total of all amounts, each of which is consideration for one of those supplies or matters, that may reasonably be attributed to each of those supplies and matters. ... The value of the consideration for the supply of Lot 2 is the FMV of Lot 1 at the time when Lot 2 is supplied. ... As previously mentioned, the value of consideration for Lot 2 is the FMV of Lot 1 at the time of the sale of Lot 2. ...

The amount allocated to a particular element would be the consideration for that element. ... The reattribution of the consideration in paragraph 254.1(2)(h) is intended to deal with situations where a disproportionate amount of the consideration has been allocated to the building by the parties, and not to redistribute the consideration for the land components between the building and the rent. ... This would be done before we even look at paragraph 254.1(2)(h)- it is not a question of excluding part of the consideration from the supply of the part of the building, but rather of having already determined the part of the consideration that should be allocated to each element. ...

It is my opinion that A is equal to the consideration payable on all the goods and services that are subject to GST and B is equal to the total consideration of all the goods and services in the tour package. Since the consideration for a supply excludes PST, the calculation of the taxable percentage will be determined without reference to PST. ... In that formula, (A) is the taxable percentage of the tour package and (B) is the total consideration for the entire tour package. ...

Therefore, the remuneration in the form of a set amount per chicken raised is consideration in respect of the supply of a taxable service. ... When he receives part of the consideration which the feed mill receives for the supply of the eggs, it remains consideration in respect of the supply of the services of maintaining the flock. It is not consideration for the supply of zero-rated eggs. It is merely a method of determining consideration for the supply of the service. ...