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].
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| Ministère/Organisme | Canada Revenue Agency. |
|---|---|
| Titre | Election for exempt supplies . |
| Titre de la série | GST/HST memorandum |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Autres langues publiées | [Français] |
| Format | Électronique |
| Document électronique | |
| Note(s) | Issued also in French under title: Choix visant les fournitures exonérées. Caption title. "July 2011." Chapter 17.14 of the GST/HST memoranda series. "This version replaces the one dated January 2001." |
| Information sur la publication | [Ottawa] : Canada Revenue Agency, 2011. |
| Description | 18 p. |
| Numéro de catalogue |
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| Descripteurs | Goods and services tax Harmonized sales tax Excise taxes |
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