Excise Tax Act Flashcards
Section 122
Cover page for Part IX of the ETA
Section 123
Definitions applicable in Part IX and Schedules V to X; also section 121
Section 121
New Housing Rebate
Section 124
Compound interest details
Section 125
What happens when a calculation results in a negative number?
Section 126
Arm’s Length and Related Parties
Section 127
Associated persons
Section 128
Closely related corporations
Section 129
PSBs: Small supplier divisions and branches
Section 130
Members of unincorporated organisations
Section 130.1
Arrangements deemed to be trusts
Section 131
Segregated funds of insurers as separate persons
Section 132
Canadian residency and permanent establishments
Section 132.1
Meaning of “permanent establishment” and provincial residency
Section 133
Agreement to provide property or service = supply
Section 134
Is the transfer of a security interest a supply?
Section 135
Sponsorship of public sector bodies
Section 136
Are leases supplies?
Separate supply rules around real property
Section 136.1
Lease interval rules
Purchase at the end of a lease
Ongoing supplies of services
Section 136.2
Separate Supplies of real property split between provinces
Section 136.3
Separate supplies of freight services
Section 136.4
“Dedicated Telecommunications channel” and separate supplies
Section 137
Coverings/containers supplied with property - single supply
Section 138
Incidental supplies
Section 139
Mixed supplies including financial services
Section 140
Supply of membership along with security
Section 141
Use in the course of “commercial activities”
Section 141.01
Consideration and:
- Grants and subsidies
- acquisition and use for the purpose of making supplies
- determining extent of use
- free supplies
Section 141.02
Allocation methodology
Section 141.1 / 141.2
Sale of personal property / sale of personal property by a municipality
Section 142
Place of supply
Section 142.1
Telecommunications: place of supply and billing location
Section 143
Place of supply for non-residents
Section 143.1
Place of supply by mail or courier
Section 144
Supply of goods before they clear customs = supplied outside Canada
Section 144.01
Place of supply of “continuous transmission commodities”
Section 144.1
Provincial place of supply rules
Section 145
Repealed!
Section 146
Supplies by governments and municipalities that are deemed to be in the course of commercial activity
Section 147
Repealed!
Section 148
Small supplier rules
Section 148.1
Small supplier status for charities and public institutions; definition of “gross revenue”
Section 149
Who is a financial institution? What is an investment plan?
Section 150
Election for exempt supplies between a listed financial institution and a related party
Section 151
Corps that make a s150 election become deemed financial institutions.
Section 152
- When consideration is due, including for leases etc.
- “Payment” for consideration that is not money
Section 153
- 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
Section 154
Provincial levies are included in consideration
Section 155
Non arm’s length supplies
Section 156
Election for nil consideration
Section 157
Election for nil consideration for pension plans
Section 158
Tax refund discounts - is it a supply when you purchase the right to a refund?
Section 159
Value of consideration in Canadian currency
Section 160
Consideration and coin operated devices
Section 161
Value of consideration for early payment discounts and late payment penalties
Section 162
Rules regarding consideration and natural resources
Section 162.1
Consideration regarding rolling stock penalties and demurrage
Section 163
Consideration and tour packages
Section 164
Consideration and donations
Section 164.1
Consideration and supplies by farming “feedlots”
Section 164.2
When a Union/association reimburses an employer for an employee’s time spent on union/association matters, is this consideration for a supply?
What are the divisions of Part IX of the Excise Tax Act?
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
