Election for exempt supplies .: Rv3-2/17-14-2011E-PDF
"Section 150 of the Excise Tax Act (the Act) provides an election that permits corporations that are members of a closely related group of which a listed financial institution is a member to elect to treat every taxable supply between them of property by way of lease, licence or similar arrangement or of a service (with certain exceptions) as an exempt supply of a financial service. A corporation making the election is deemed to be a financial institution under section 151. This memorandum examines what is meant by a closely related group and closely related corporation and outlines the effects of making the election, particularly as it relates to a registrant corporation being deemed to be a financial institution. The memorandum also refers to an election under subsection 225.2(4) that is available to selected listed financial institutions that have made an election under section 150"--p. [1].
Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.835607&sl=0
| Department/Agency |
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|---|---|
| Title | Election for exempt supplies . |
| Series title |
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| Publication type | Monograph - View Master Record |
| Language | [English] |
| Other language editions | [French] |
| Format | Digital text |
| Electronic document | |
| Note(s) |
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| Publishing information |
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| Description | 18 p. |
| Catalogue number |
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| Subject terms |
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