Subsection 341(1) - Services Before 1991
See Also
C. & E. Commissioners v. Faith Construction Ltd., [1989] BTC 5121 (C.A.)
In response to the proposed repeal effective 1 June 1984 of the zero rating of building alteration services, four building companies with existing contracts for building alterations arranged with their customers for payment by the customers before that date subject (in one case) to the condition that the building company would immediately lend back an equivalent sum, to be repaid as the work was done or subject (in the other case) to that money being paid into an account of the building company for release only as the work was done.
Although the use of the money was fettered, the payments discharged the liability of the customers under the building contracts. Accordingly, the building companies had "receive[d] a payment" before 1 June 1984.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Payment & Receipt | receipt even though obligation to lend back | 124 |
Administrative Policy
GST M 500-6-6 "Straddling Transactions" under "Services"
GST will not apply to any consideration that is paid or becomes due before May 1991 for a service which is performed 90% or more before 1991.
B-001 "Transitional Rules under the Proposed GST"
Memorandum 17.6.1 "Definition of ‘Selected Listed Financial Institution'" July 2014
31. A series of tips were developed to help in the determination of whether a particular investment plan is an SLFI…[which] are found in Appendix B… .
Memorandum 17.6.1 "Definition of ‘Selected Listed Financial Institution'" July 2014
31. A series of tips were developed to help in the determination of whether a particular investment plan is an SLFI…[which] are found in Appendix B… .
Memorandum 17.6.1 "Definition of ‘Selected Listed Financial Institution'" July 2014
31. A series of tips were developed to help in the determination of whether a particular investment plan is an SLFI…[which] are found in Appendix B… .