A corporation purchased a condo as an investment property. For the first 9 years, it rented the condo under long-term leases. However, for the last 14 months, it offered the condo through the Airbnb platform under short-term leases. The corporation was later assessed by the CRA for failing to collect the GST/HST on the sale of the condo.
GST & QST / TPS & TVQ
The New Residential Rental Property Rebate – When Do We Start Counting for the One-Year Occupancy Requirement?
Under the relevant provisions of the Excise Tax Act, when a person purchases a new residential complex with the intention of renting it, he is entitled to a rebate, commonly referred to as the “GST/HST New Residential Rental Property Rebate”.
Applicability of GST on the Sale of a New House (for Non-Builders and Builders)
In a recent decision of the Tax Court of Canada (“TCC”), the Court dismissed the taxpayer’s appeal of a GST assessment for uncollected GST on the sale of a new house.
Input Tax Credits: “Supporting Documentation” Need Not Always Be Issued or Signed by the Supplier
GST registrants can claim input tax credits (“ITCs”) on purchases made in the course of their commercial activities. These ITCs can be used to offset the GST that they are required to collect and remit. In situations where the ITCs exceed the GST collected, registrants are entitled to a net tax refund.
Les administrateurs d’une société doivent payer la TPS et la TVQ si celle-ci omet de le faire
Le restaurant qui appartenait au fils de Monsieur Gaétan Gagné était aux prises avec des difficultés financières. Afin de l’aider, Monsieur Gagné lui a prêté de l’argent, en échange de quoi son fils lui a émis des actions de la société 9129-7903 Québec Inc. (la « Société »). La Société a omis de verser la taxe nette qu’elle devait à Revenu Québec.