Search - consideration

However, subsection 141.01(1.1) states that for the purposes of subsections 141.01(2) and 141.01(3) the term "consideration" does not include nominal consideration. ... Monies from the long term loan from XXXXX or from the XXXXX are not regarded as consideration for taxable supplies. ...

The present ruling deals with the value of the consideration on which the GST was applicable. ... Issue As explained in our ruling XXXXX XXXXX, the GST was required to be calculated at 7% on the consideration for the supply of the Property. ... Ruling Given For purposes of the GST, the value of consideration for the supply of the Property is the purchase price net of the lease adjustment XXXXX. ...

The private copying levy when imposed upon an importer or manufacturer in Canada is not consideration for a supply for GST/HST purposes. 5. ... The consideration for a taxable supply is subject to GST/HST under the provisions of section 165. ... The amount imposed in respect of the private copying levy is not consideration for a supply for GST/HST purposes. ...

Subsection 153(3) does not apply to deem the value of the consideration for those supplies to be nil. 3. ... Explanation Ruling #1- Reduction of consideration for purposes of subsection 232(2) Subsection 232(2) provides that where 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. ... Furthermore, a reduction in consideration is not considered to have occurred if the goods are sold back to the original supplier. ...

By virtue of subsection 152(1) of the ETA, the consideration for the supply is due on the day the supplier issued the ticket. Consideration is "paid" when the supplier receives the money, property or service, which is consideration for the supply. ... Under the provisions of subsection 168(1) of the ETA, the tax is payable by the recipient of a taxable supply on the earlier of the day that consideration for the supply is paid and the day that the consideration becomes due. ...

Rulings Requested 1) The funding provided by the Funder to the Society is consideration for a taxable supply. ... As the funding is not consideration for a supply, it will not be subject to the GST/HST. ... As indicated above, this funding is not consideration for supplies made by the Society. ...

What is the consideration used to determine the GST/HST to be remitted? ... Is the GST/HST calculated on a tax extra or tax included basis on the consideration? ... As per section 165, GST/HST is calculated on the value of the consideration for the supply. ...

In such a situation the coupon would be used as partial consideration against the multiple supplies made by XXXXX which of course include non zero-rated goods. ... The amount of the discount provided by the XXXXX points will reduce the value of the consideration for each of the goods purchased, further to subsection 181(4). ... The amount of the discount would need to be prorated among each of the items purchased based upon the value of the consideration for each item. ...

Paragraph 153(1)(a) provides that where the consideration, or any part of the consideration for a supply, is expressed in money, the value of the consideration or that part of the consideration is deemed to be equal to the amount of money. ... For example, where the consideration for XXXXX supply to a client consists of money and XXXXX, the XXXXX will be characterized as partial non-monetary consideration for the supply. Thus, the consideration for the supply will be the total of the fair market value of the XXXXX at the time of supply, plus the amount of monetary consideration for the supply. ...

The full value of the trade-in is applied to reduce the consideration for the new vehicle subject to tax. ...