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Indirect Tax > Excise Tax Act > Flashcards

Excise Tax Act Flashcards

1
Q

Section 122

A

Cover page for Part IX of the ETA

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2
Q

Section 123

A

Definitions applicable in Part IX and Schedules V to X; also section 121

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3
Q

Section 121

A

New Housing Rebate

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4
Q

Section 124

A

Compound interest details

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5
Q

Section 125

A

What happens when a calculation results in a negative number?

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6
Q

Section 126

A

Arm’s Length and Related Parties

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7
Q

Section 127

A

Associated persons

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8
Q

Section 128

A

Closely related corporations

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9
Q

Section 129

A

PSBs: Small supplier divisions and branches

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10
Q

Section 130

A

Members of unincorporated organisations

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11
Q

Section 130.1

A

Arrangements deemed to be trusts

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12
Q

Section 131

A

Segregated funds of insurers as separate persons

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13
Q

Section 132

A

Canadian residency and permanent establishments

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14
Q

Section 132.1

A

Meaning of “permanent establishment” and provincial residency

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15
Q

Section 133

A

Agreement to provide property or service = supply

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16
Q

Section 134

A

Is the transfer of a security interest a supply?

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17
Q

Section 135

A

Sponsorship of public sector bodies

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18
Q

Section 136

A

Are leases supplies?

Separate supply rules around real property

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19
Q

Section 136.1

A

Lease interval rules

Purchase at the end of a lease

Ongoing supplies of services

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20
Q

Section 136.2

A

Separate Supplies of real property split between provinces

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21
Q

Section 136.3

A

Separate supplies of freight services

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22
Q

Section 136.4

A

“Dedicated Telecommunications channel” and separate supplies

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23
Q

Section 137

A

Coverings/containers supplied with property - single supply

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24
Q

Section 138

A

Incidental supplies

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25
Q

Section 139

A

Mixed supplies including financial services

26
Q

Section 140

A

Supply of membership along with security

27
Q

Section 141

A

Use in the course of “commercial activities”

28
Q

Section 141.01

A

Consideration and:

  • Grants and subsidies
  • acquisition and use for the purpose of making supplies
  • determining extent of use
  • free supplies
29
Q

Section 141.02

A

Allocation methodology

30
Q

Section 141.1 / 141.2

A

Sale of personal property / sale of personal property by a municipality

31
Q

Section 142

A

Place of supply

32
Q

Section 142.1

A

Telecommunications: place of supply and billing location

33
Q

Section 143

A

Place of supply for non-residents

34
Q

Section 143.1

A

Place of supply by mail or courier

35
Q

Section 144

A

Supply of goods before they clear customs = supplied outside Canada

36
Q

Section 144.01

A

Place of supply of “continuous transmission commodities”

37
Q

Section 144.1

A

Provincial place of supply rules

38
Q

Section 145

A

Repealed!

39
Q

Section 146

A

Supplies by governments and municipalities that are deemed to be in the course of commercial activity

40
Q

Section 147

A

Repealed!

41
Q

Section 148

A

Small supplier rules

42
Q

Section 148.1

A

Small supplier status for charities and public institutions; definition of “gross revenue”

43
Q

Section 149

A

Who is a financial institution? What is an investment plan?

44
Q

Section 150

A

Election for exempt supplies between a listed financial institution and a related party

45
Q

Section 151

A

Corps that make a s150 election become deemed financial institutions.

46
Q

Section 152

A
  • When consideration is due, including for leases etc.

- “Payment” for consideration that is not money

47
Q

Section 153

A
  • value of consideration
  • consideration when value shifted between multiple supplies
  • Barter and trade-ins
  • sale and leaseback
  • non arms length supplies
  • natural gas liquids and make-up gas
48
Q

Section 154

A

Provincial levies are included in consideration

49
Q

Section 155

A

Non arm’s length supplies

50
Q

Section 156

A

Election for nil consideration

51
Q

Section 157

A

Election for nil consideration for pension plans

52
Q

Section 158

A

Tax refund discounts - is it a supply when you purchase the right to a refund?

53
Q

Section 159

A

Value of consideration in Canadian currency

54
Q

Section 160

A

Consideration and coin operated devices

55
Q

Section 161

A

Value of consideration for early payment discounts and late payment penalties

56
Q

Section 162

A

Rules regarding consideration and natural resources

57
Q

Section 162.1

A

Consideration regarding rolling stock penalties and demurrage

58
Q

Section 163

A

Consideration and tour packages

59
Q

Section 164

A

Consideration and donations

60
Q

Section 164.1

A

Consideration and supplies by farming “feedlots”

61
Q

Section 164.2

A

When a Union/association reimburses an employer for an employee’s time spent on union/association matters, is this consideration for a supply?

62
Q

What are the divisions of Part IX of the Excise Tax Act?

A

Division I - Interpretation
S123-164

Division II - GST
S165-211

Division III - Tax on importation of goods
S212-216

Division IV - Tax on imported taxable supplies
S217-220

Division IV.1 - tax on property and services brought into a participating province
S220.01-220.09

Division V - collection and remittance of Division II tax
S221-s251

Division VI - Rebates
S252-264

Division VII - Miscellaneous
S265-274

Division VIII - Admin and enforcement
S275-335

Division XI - Transitional provisions
S336-347

Division X - transitional provisions for participating provinces
S348-363.2

Indirect Tax (1 decks)

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