New Harmonized Value-added Tax System Regulations, No. 2 (SOR/2010-151)

Regulations are current to 2014-04-02 and last amended on 2013-04-18. Previous Versions

Marginal note:Calculation of tax — subsection 220.08(1)

 For the purposes of subsection 220.08(1) of the Act, the amount of tax payable under that subsection by a recipient of a taxable supply made in a particular province of intangible personal property or a service each time an amount of consideration for the supply becomes due, or is paid without having become due, is the total of all amounts, each of which is determined for a participating province by the formula

A × B × C

where

A 
is the percentage determined by the formula

D - E

where

D 
is the tax rate for the participating province, and
E 
is
  • (a) if the property or service is a specified item in respect of the particular province, 0%, and

  • (b) in any other case, the provincial rate for the particular province;

B 
is the value of the consideration that is paid or becomes due at that time; and
C 
is
  • (a) if the recipient is a stratified investment plan with one or more provincial series, the total of all amounts, each of which is the extent (expressed as a percentage) to which the recipient acquired the property or service for consumption, use or supply in the course of activities relating to a provincial series of the financial institution for the participating province, as determined in accordance with section 51 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations;

  • (b) if the recipient is a provincial investment plan for the participating province, 100%;

  • (c) if the recipient is a provincial investment plan for a province other than the participating province, 0%; and

  • (d) in any other case, the extent (expressed as a percentage) to which the recipient acquired the property or service for consumption, use or supply in the participating province.

  • SOR/2013-71, s. 7.
Marginal note:Prescribed purposes — subsection 220.08(1) of Act

 For the purposes of subsection 220.08(1) of the Act,

  • (a) a prescribed purpose in respect of a supply of property or a service made to a selected listed financial institution that is a stratified investment plan with one or more provincial series is the purpose of consuming, using or supplying the property or service in the course of activities relating to one or more of those provincial series; and

  • (b) a prescribed purpose in respect of a supply of property or a service made to a provincial investment plan is the purpose of consuming, using or supplying the property or service in the course of the activities of the provincial investment plan.

  • SOR/2013-71, s. 8.
Marginal note:Non-taxable property and services — restriction

 For the purposes of paragraph 220.08(3)(a) of the Act, a supply that is included in section 4 of Part II of Schedule X to the Act is a prescribed supply, except if the supply is included in another section of that Part.

  • SOR/2011-56, s. 28.