Search - consideration

Generally the value of consideration for a supply is expressed in money. Section 153 provides that the value of consideration, or any part thereof, for a supply shall be deemed to be the amount expressed in money or where the consideration is other than money, the fair market value of the consideration. Pursuant to subsection 123(1), consideration includes any amount that is payable for a supply by operation of law. ...

Consequently, a refund or credit to the Project Co, as provided for under the Guarantee would be regarded as a subsequent reduction in consideration pursuant to subsection 232(2). Subsection 232(2) states that [w]here a particular person has charged to, or collected from, another person tax under Division II 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. ... As such, it is at the discretion of the Joint Venture (the particular person) whether to refund the GST on the reduction in consideration. ...

Ruling Requested Were the sponsorships received by the XXXXX consideration for taxable supplies? ... Please note that subsection 153(1) provides that the "value of consideration" for a supply is deemed to be: "(a) where the consideration... is expressed in money, the amount of the money; and (b) where the consideration... is other than money, the fair market value of the consideration... at the time the supply was made. ... The remainder of the $10,000 is not subject to GST since part of it is consideration for a supply that falls under the deeming provision of section 135, and the rest is a donation rather than consideration for a supply. ...

The consideration for the supply of the parking space is not expressed in U.S. currency (i.e., the XXXXX does not indicate on the meters or elsewhere that it will accept U.S. $0.25 coins as consideration for the supply). ... Section 159 provides that where the consideration for a supply is expressed in a foreign currency, the value of the consideration shall be computed on the basis of the value of that foreign currency in Canadian currency, on the day tax is payable, or on such other day, as is acceptable to the Minister. The consideration for the supply of a parking space for a specified period of time in the XXXXX is not expressed in a foreign currency. ...

For new housing with a HST included price net of both housing rebates of $109,700 or less: HST rate of 13%, GST/HST new housing rebate of 36% of federal component of HST, and Nova Scotia housing rebate of 18.75% of provincial component of HST to a maximum of $1,500 Purchase price (consideration) = HST included price net of rebates / 1.097 GST/HST new housing rebate = Consideration x 0.05 x 0.36 Nova Scotia housing rebate = Consideration x.08 x 0.1875 2. ... Where the HST included price net of both housing rebates is greater than $387,700 and less than or equal to $507,000: HST rate of 13%, declining GST/HST new housing rebate, and maximum Nova Scotia housing rebate of $1,500 Purchase price (consideration) = (HST included price net of rebates +  $29,850) / 1.193 GST/HST new housing rebate = $6,300 x  ($450,000- Consideration) / $100,000 Nova Scotia housing rebate = $1,500 4. ... For new housing with a HST included price net of the GST/HST new housing rebate of $389,200 or less: HST rate of 13% and GST/HST new housing rebate of 36% of federal component of HST Purchase price (consideration) = HST included price net of rebate/1.112 GST/HST new housing rebate = Consideration x 0.05 x 0.36 2. ...

Based upon the information provided above, you supply spirits to the XXXXX "in-bond", prior to duty becoming payable, the GST/HST on these supplies should therefore be based upon a duty-excluded amount of consideration. ... GST/HST payable is calculated on the value of the consideration, excluding duty. ...

GST/HST should not be charged on the consideration payable by [Sponsor #1]. ... GST/HST should not be charged on the consideration payable by [Sponsor #2]. ... GST/HST should not be charged on the consideration payable by [Sponsor #3]. ...

As no other relieving provision applies, the GST is payable by the Lessee and is calculated on the value of the consideration payable for XXXXX supply of the Leased Lands. ... The GST/HST is calculated on the value of the consideration for a taxable supply. The value of the consideration is defined under subsection 153(1) as (a) where the consideration or that part of the consideration 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. ...

Generally, the value of consideration should be determined by reference to the Deal Price paid for the voucher. ... Section 181.2 provides that, for GST/HST purposes, the issuance or sale of a gift certificate for consideration shall be deemed not to be a supply and, when given as consideration for a supply of property or a service, the gift certificate shall be deemed to be money. ... It is up to the Merchant to determine whether the value of consideration for a deal includes or excludes an amount of tax. ...

When [the Company] supplies a new part, a core charge is added to the consideration payable for the new part. The non-registrant consumer pays GST/HST on the consideration payable for the part including the core charge. 4. ... Given that the amount is consideration for the supply of the used part, it is the CRA’s position that the amount is not an adjustment or reduction of the consideration for the supply of the new part made by [the Company]. ...