Search - consideration

A gift is generally defined as a voluntary transfer of property without consideration. ...

Qualifying books The following goods are books that qualify for the rebate: a printed book or an update of a printed book; an audio recording where 90% or more is a spoken reading of a printed book (an “audio book”); a bound or unbound printed version of scripture of any religion; a printed book and a read-only medium (such as a CD-ROM) sold together as a single package, where 90% or more of the read-only medium is reasonably attributable to a reproduction of the printed book and/or makes specific reference to the printed book and its content, and that supplements and is integrated with that content; a printed book with a read-only medium and/or a right to access a website sold together as a single package, which is specially designed for students enrolled in a qualifying course, where the read only medium or website contains material related to the subject matter of the printed book; and a printed book and another item (such as a toy) in a package sold together for a single consideration where 90% or more of the value of the items in the package is attributable to the printed book. ...

., a sale of a bagel or a plain croissant in a restaurant); non-carbonated beverages when dispensed at the place where they are sold; or any of the following beverages, the supply of which is not a zero-rated supply milk (flavoured or unflavoured), soy, rice or almond-based beverages or other similar non-dairy substitutes for milk, or non-carbonated fruit juice beverages or fruit flavoured beverages, other than milk-based beverages, that contain 25% or more by volume of a natural fruit juice or combination of natural fruit juices or of a natural fruit juice or combination of natural fruit juices that have been reconstituted into the original state. the following when sold with a qualifying food or beverage item above carbonated beverages dispensed at the place where they are sold, other beverages (including carbonated beverages not dispensed) except if the cans, bottles or other primary containers in which they are sold contain a quantity exceeding a single serving or they are packaged in multiples of single servings; the following when sold with a qualifying food or beverage item above for a single consideration cakes, muffins, pies, pastries, tarts, cookies, doughnuts, brownies, croissants with sweetened filling or coating, or similar products where they are prepackaged for sale to consumers in quantities of less than six items each of which is a single serving, ice cream, ice milk, sherbet, frozen yoghurt or frozen pudding, non-dairy substitutes for any of the foregoing, or any product that contains any of the foregoing, when packaged and sold in single servings, or other snack foods such as chips, salted nuts, popcorn, candies, fruit bars, granola bars. ...

" Act " means the Excise Tax Act; " amount " means money, property or a service, expressed in terms of the amount of money or the value in terms of money of the property or service; " Canada " (a) "Canada" includes: (i) the sea bed and subsoil of the submarine areas adjacent to the coasts of Canada in respect of which the government of Canada or of a province may grant a right, licence or privilege to explore for or exploit any minerals; and (ii) the seas and airspace above the submarine areas referred to in paragraph (i) in respect of any activities carried on in connection with the exploration for or exploitation of minerals; (b) in respect of imports, "Canada" has the meaning assigned by the Customs Act; " capital property ", in respect of a person, means property that is, or would be if the person were a taxpayer under the Income Tax Act, capital property of the person within the meaning of that Act, other than property described in Class 12 or 14 of Schedule II to the Income Tax Regulations; " 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; " 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; " 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; " 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; " 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; " reporting period " of a recipient means (a) where the recipient is a registrant, a reporting period of the recipient as determined under sections 245 to 251 of the Act; and (b) in any other case, a calendar quarter; " royalty " means compensation for the use of property, usually copyrighted material or natural resources, expressed as a percentage of receipts from using the property or as an amount per unit produced; " service " means anything other than (a) property, (b) money, and (c) anything that is supplied to an employer by a person who is or agrees to become an officer or employee of the employer in the course of or in relation to the office or employment of that person; " small supplier ", at any time, means a person who is at that time a small supplier under section 148 of the Act; " supply " means, subject to sections 133 and 134 of the Act, the provision of property or a service in any manner, including sale, transfer, barter, exchange, licence, rental, lease, gift or disposition; " tax " means the Goods and Services Tax imposed under Part IX of the Act; " tax payable " by a person in respect of property or service includes (a) tax deemed under subsection 171(3) or 200(2) of the Act to have been collected by the person in respect of the property or service, and (b) an amount in respect of the property or service that is required under paragraph 171(4)(b) of the Act to be added in determining the net tax of the person for a reporting period, but does not include an amount that the person has claimed or is entitled to claim as an input tax credit in respect of the property or service; " taxable supply " means a supply that is made in the course of a commercial activity, but does not include an exempt supply. ...

Board Members Board members were selected with consideration given to the linguistic, regional, and ethnic diversity of the country. ...

The financial advisory services provided by AdvisorCo involved its undertaking of a study to enable the rendering of an opinion as to the fairness of the financial consideration to be paid by PurchasingCo for the shares of TargetCo. ...

Input tax credits A GST/HST registrant is generally eligible to claim ITCs to recover the GST/HST paid or payable on taxable property and services to the extent that the property or services are acquired, imported or brought into a participating province by the registrant for consumption, use or supply in the course of its commercial activities, that is, for the purpose of making taxable supplies for consideration (and not for the purpose of making exempt supplies). ...

GST/HST will generally apply to the consideration paid by the medical laboratory for the services of the independent contractors. ...

As such, the MGAs are generally making an exempt supply of a financial service and are not required to collect GST/HST on the consideration for the supply (for example, a fee). ...

. ¶ 2.13 (formerly included in ¶6 of IT-516R2) has been updated to reflect the new address to which enquiries should be sent for consideration as a university outside Canada. ¶2.15 (formerly included in ¶7 of IT-516R2) has been revised to clarify the meaning of commute for purposes of paragraph 118.5(1)(c). ¶2.16 has been added to provide references to other CRA publications relevant to students attending universities outside Canada. ¶2.19 has been added to explain the CRA’s position regarding online attendance for purposes of the requirement for full-time attendance in paragraph 118.5(1)(b). ¶2.20 has been added to explain the CRA’s position regarding correspondence courses for purposes of the requirement for full-time attendance in paragraph 118.5(1)(b). ¶2.22 (formerly included in ¶13 of IT-516R2) has been revised to include the meaning of enrolled for purposes of paragraph 118.5(1)(a) and (c). ¶2.23 to 2.25 (formerly included in ¶16 and 17 of IT-516R2) have been amended to clarify whether a student in receipt of a scholarship, fellowship, bursary or prize may claim a tuition tax credit in respect of the student’s tuition. ¶2.26 has been added to address whether a student may claim the tuition tax credit where the student’s tuition fees are paid by the employer of the student’s family member. ¶2.28 has been added to provide an example of when a tuition tax credit would not be available pursuant to subparagraph 118.5(1)(a)(iii.1) or (v). ¶2.29 (formerly included in ¶14 of IT-516R2) now makes reference to the student’s ability to carry forward unused tuition amounts to be used in future years, pursuant to subsection 118.61(1), added by 1998, c. 19, s. 28(1), applicable to the 1997 and subsequent tax years. ¶2.31 (formerly included in ¶24 of IT-516R2) has been updated to reflect the amendment to subparagraph 118.5(1)(b)(i), amended by 2011, c. 24, s. 29(2), applicable to tuition fees paid for the 2011 and subsequent tax years. ¶2.36 and 2.37 have been added further to the introduction of subsection 118.5(3), concerning ancillary fees and charges. ...