Subsection 167(1) - Supply of Assets of Business
See Also
Cinnamon City Bakery Cafe Inc. v. The Queen, docket 2001-405-GST-I (TCC) (Informal Procedure)
The appellant had established and operated cafés in major shopping malls and subsequently sold the cafés as franchises. Such sales to various...
Customs and Excise Commissioners v. Padglade Ltd., [1995] BTC 5258 (Q.B.D.)
Schiemann J. found that the VAT tribunal had not made an error of law in finding that a transfer of stock and equipment to the taxpayer from a...
Administrative Policy
28 February 2019 CBA Roundtable, Q.24
Corporations A and B (both registered and carrying on a business) amalgamate to form AmalCo. Immediately thereafter, Corporation C, a GST/HST...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 271 | no deemed continuity of Amalco business for s. 167 purposes | 80 |
May 2017 CPA Alberta Roundtable, GST/HST Q.9
Why does a non-registrant selling a complete business to a single buyer need to make an s. 167 election, given that the sale of all tangible and...
3 February 2017 Interpretation 158436
Respecting whether a supply of an interest in an individual “lease” of oil and gas property which may be operating under a joint venture...
26 February 2015 CBA Roundtable, Q. 19
CRA has indicated (2001 CBA Roundtable, Q. 51) that a s. 167 election is not available where a partnership is wound up and each partner receives...
25 July 2014 Interpretation 158278
In finding that the grant of a franchise by the Franchisor to a new Franchisee respecting a specific site qualified as the supply of a business...
May 2014 Alberta CPA Roundtable, GST Q.4
CRA rejects generic descriptions on GST44 such as "All real property, capital property, intangible assets such as the assignment of all leases and...
CBAO National Commodity Tax, Customs and Trade Section – 2013 GST/HST Questions for Revenue Canada, Q. 20. ("Reorganizations - Amalgamations")
Shares of Newco, which was incorporated solely for the purposes of purchasing all of the business assets of a supplier, are sold to a third party...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 271 | 318 |
7 March 7 2013 CBA Roundtable, Q.20
A corporation (“Newco”) is incorporated solely for the purposes of purchasing all of the business assets of a supplier. Its shares then are...
P-013 - "Accounts Receivable for Consumption in the Course of Commercial Activities"
Under the former version of s. 167(1), accounts receivable were not considered to be included in the determination of whether "all or...
3 March 2005 CBA Roundtable, Supplementary Q. 1—Q. 7
A and B hold a 40% and 60% interest, respectively, in a joint venture. Is s. 167 available respecting he following successive transfers of JV...
9 July 2003 Headquarter Letter Case No. 45377
"The supply by a partnership of an undivided interest in the partnership property to one of the partners would generally not be considered to be...
19 March 2003 Ruling RITS 41838 [acquisition of real estate through lease]
Where a lessee agrees to pay monthly rentals for the leasing to it of the property of a business (which it commences to carry on), but with a lump...
1996 Corporate Management Tax Conference Round Table, Q. 10
Where the purchaser of a "mothballed" restaurant must spend more than 10% of the purchase price to equip the restaurant before beginning its...
11 February 1994 Interpretation 11660-1/0703
Various tenants in common entered into a joint venture agreement to build and operate a commercial building on land they held through a nominee...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 273 - Subsection 273(1) | sale of co-ownership interest would not be viewed as made by operator | 175 |
GST Memorandum (New Series), 14.4 - Sale of a Business or Part of a Business, December 2010.
90%/capability tests
7. The value of any property that is not acquired under the agreement for the supply, but that the recipient requires to...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 167 - Subsection 167(2) | 91 |
Forms
GST44 "Election Concerning the Acquisition of a Business or Part of a Business"
Do not use this form if you are a recipient that is a selected...
Subsection 167(1.1)
Paragraph 167(1.1)(a)
Subparagraph 167(1.1)(a)(iii)
Administrative Policy
27 February 2020 CBA Roundtable, Q.18
CRA indicated:
Subparagraph [167[(1.1)(a)(iii) only applies in circumstances where neither the supplier nor the recipient are GST/HST registrants.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 273 - Subsection 273(1) | election for a real estate JV can prevent a subsequent unregistered purchaser of an interest therein receiving retroactive relief | 187 |
| Tax Topics - Excise Tax Act - Section 240 - Subsection 240(1) | retroactive registration unavailable on the basis of purchasing an interest in a JV that is subject to a s. 273 election | 117 |
Subsection 167(2)
Administrative Policy
GST Memorandum (New Series), 14.4 - Sale of a Business or Part of a Business, December 2010.
Form and manner of filing
31. The estate and the beneficiary must jointly elect to have subsection 167(2) apply. There is no prescribed form for...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 167 - Subsection 167(1) | 397 |
GST/HST Memorandum 19.4.1 Commercial Real Property - Sales and Rentals August 1999
Requirements for rollover
25. A non-taxable supply of real property can also result if the real property being supplied is part of the supply of...