Administrative Policy
GST/HST Memorandum 14-5, Election to Deem Supplies to be Made for Nil Consideration, June 2023
Parent a continuation of wound-up subsidiary for s. 156(2) purposes
60. Where a corporation (the subsidiary) is wound up into another corporation...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 175.1 | 168 | |
| Tax Topics - Excise Tax Act - Section 156 - Subsection 156(1) - Qualifying Group | 260 |
GST/HST Policy Statement P-045: Butterfly Transactions 9 November 1992 (Obsolete February 2012)
In a purported butterfly reorganization, Subco, which operates a department store, transfers its real estate to a newly-incorporated subsidiary...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 169 - Subsection 169(1) | registration of subsidiary of butterfly transferee corporation | 267 |
23 March 2017 CBA Commodity Taxes Roundtable, Q.10
SubCo, which was a registrant (and not a small supplier), is wound up into ParentCo, a holding company not carrying on any business and not a...
CBAO National Commodity Tax, Customs and Trade Section – 2013 GST/HST Questions for Revenue Canada, Q. 18. ("Winding up and GST ITC Entitlements")
A subsidiary (which is an importer and has GST ITC entitlements) is wound up into its parent. Both are registrants. CRA stated:
[W]here the...
Articles
Allan Gelkopf, Zvi Halpern-Shavim, "Five Arbitrary Differences between Corporations and Partnerships for GST/HST Purposes", Sales and Use Tax, Federated Press, Volume XIII, No. 2, 2015, p. 674.
No comparable relief for partnerships (p. 676)
…When a corporation winds up into its wholly-owned parent, the supply of property from the...
Subsection 272.1(5)
Cases
Dimension J.M.M. Inc. v. Canada, 2005 FCA 168
A partnership of which the appellant was a member was liable for unremitted GST given its improper reliance on the trade-in rule in s. 153(4). In...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 153 - Subsection 153(4) | not available where only a credit note issued | 136 |
| Tax Topics - Excise Tax Act - Section 299 - Subsection 299(2) | assessment of partnership before assessment of partner not required | 179 |