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Marginal note:Transfer of condominium complex after June 2010

• 53 (1) If

  • (a) a particular taxable supply by way of sale of a condominium complex is made in a specified province to a person under an agreement, evidenced in writing, entered into between the supplier (in this section referred to as the “original vendor”) and the person on or before the qualifying date for the specified province,

  • [...]

  • (c) at any time on or after July 1, 2010, ownership of the complex is transferred to the person under the agreement or the complex is registered as a condominium,

  [...]

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  • (e) for the purposes of Part IX of the Act, the original vendor is deemed to have made another taxable supply in respect of the complex and to have collected, on the earlier of the day ownership of the complex is transferred to the person under the agreement and the day that is sixty days after the day on which the complex is registered as a condominium, tax under Division II of Part IX of the Act in respect of the other supply equal to 2% of the consideration for the particular supply, and

• (2) The rules in paragraphs (1)(d) to (f) apply in respect of an agreement described in paragraph (1)(a) in respect of a condominium complex if the following circumstances apply:

  • [...]

  • (c) at any time on or after July 1, 2010, ownership of the complex is transferred to the particular person or the complex is registered as a condominium; and

  In applying those rules, the reference to the “person” in paragraph (1)(e) is to be read as a reference to the “particular person”.

• Marginal note:First reseller

  (3) If a person (in this section referred to as the “first reseller”) makes a taxable supply by way of sale (in this section referred to as the “first resale”) of a condominium complex, or any residential condominium unit located in a condominium complex, to a particular person under an agreement evidenced in writing and the first reseller is the recipient of a previous supply of the complex in respect of which no tax is payable under subsection 165(2) of the Act pursuant to subsection (1) or (2), no tax is payable under subsection 165(2) of the Act in respect of the first resale, if the following conditions are satisfied:

  • (a) the first reseller acquires the complex primarily for the purpose of making a taxable supply by way of sale of the complex or unit, as the case may be;

  • [...]

  • (d) either

    • (i) the first reseller is a builder of the complex or unit, as the case may be, that is described in paragraphs (b) and (d) of the definition builder in subsection 123(1) of the Act but not in paragraphs (a), (c) and (e) of that definition and all or substantially all of the construction of the complex or unit, or all or substantially all of the last substantial renovation of the complex or unit and any subsequent construction or renovation, as the case may be, that is completed at the earlier of the time ownership of the complex or unit is transferred and the time possession of the complex or unit is transferred by the first reseller to the particular person has been completed by a person other than the first reseller, or

    • (ii) the first reseller is a builder of the complex or unit, as the case may be, that is described only in paragraph (d) of the definition builder in subsection 123(1) of the Act; and

  • (e) neither the original vendor of the complex nor any person that does not deal at arm’s length with, or that is associated with, the original vendor acquires an interest in the complex or unit, as the case may be.

• (4) If a first reseller makes a first resale of a condominium complex, or any residential condominium unit located in a condominium complex, to a particular person and no tax is payable under subsection 165(2) of the Act in respect of the first resale pursuant to subsection (3), or no tax would have been payable under subsection 165(2) of the Act in respect of the first resale pursuant to subsection (3) if that subsection were read without reference to paragraph (3)(e), the first reseller shall indicate in writing to the particular person,

  • [...]

  • (b) that the first reseller was the recipient of a previous supply of the complex in respect of which no tax was payable under subsection 165(2) of the Act pursuant to subsection (1) or (2), as the case may be.

• (5) If a particular person makes a particular taxable supply by way of sale of a condominium complex, or any residential condominium unit located in a condominium complex, to another person under an agreement evidenced in writing, the particular person is the recipient of a previous supply of the complex in respect of which no tax is payable under subsection 165(2) of the Act pursuant to subsection (1) or (2) and tax under subsection 165(2) of the Act is payable in respect of the particular supply, for the purposes of determining an input tax credit of the particular person and for the purposes of section 54,

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  • (b) if the particular supply is a supply of a residential condominium unit located in a condominium complex, the particular person is deemed to have received another taxable supply in respect of the complex and to have paid, at the time possession of the unit is transferred to the other person, tax in respect of the other supply equal to 2% of the consideration for the previous supply made to the particular person by the original vendor of the complex multiplied by the percentage of total floor space (as defined in subsection 256.2(1) of the Act) of the unit.

• Marginal note:Subsequent reseller — condominium complex

  (6) If a person (in this section referred to as a “subsequent reseller”) acquires a condominium complex and makes a taxable supply by way of sale (in this section referred to as the “subsequent resale”) of the complex or any residential condominium unit located in the complex to a particular person under an agreement evidenced in writing and no tax is payable under subsection 165(2) of the Act pursuant to subsection (3) or this subsection in respect of the acquisition by the subsequent reseller of the complex, no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale if the following conditions are satisfied:

  • [...]

  • (b) either

    • (i) the subsequent reseller is a builder of the complex or unit, as the case may be, that is described in paragraphs (b) and (d) of the definition builder in subsection 123(1) of the Act but not in paragraphs (a), (c) and (e) of that definition and all or substantially all of the construction of the complex or unit, or all or substantially all of the last substantial renovation of the complex or unit and any subsequent construction or renovation, as the case may be, that is completed at the earlier of the time ownership of the complex or unit is transferred and the time possession of the complex or unit is transferred by the subsequent reseller to the particular person has been completed by a person other than the subsequent reseller, or

    • (ii) the subsequent reseller is a builder of the complex or unit, as the case may be, that is described only in paragraph (d) of the definition builder in subsection 123(1) of the Act; and

  • (c) neither the original vendor of the complex nor any person that does not deal at arm’s length with, or that is associated with, the original vendor acquires an interest in the complex or unit, as the case may be.

• (7) If a subsequent reseller makes a subsequent resale of a condominium complex, or any residential condominium unit located in a condominium complex, to a particular person and no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (6), or no tax would have been payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (6) if that subsection were read without reference to paragraph (6)(c), the subsequent reseller shall indicate in writing to the particular person

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  • (b) that the subsequent reseller was the recipient of a previous supply of the complex or unit, as the case may be, in respect of which no tax was payable under subsection 165(2) of the Act pursuant to subsection (3) or (6), as the case may be.

• Marginal note:Subsequent reseller — residential condominium unit

  (8) If a person (in this section referred to as a “subsequent reseller”) acquires a residential condominium unit and makes a taxable supply by way of sale (in this section referred to as the “subsequent resale”) of the unit to a particular person under an agreement evidenced in writing and no tax is payable under subsection 165(2) of the Act pursuant to subsection (3), (6) or this subsection in respect of the acquisition by the subsequent reseller of the unit, no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale if the following conditions are satisfied:

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  • (b) either

    • (i) the subsequent reseller is a builder of the unit that is described in paragraphs (b) and (d) of the definition builder in subsection 123(1) of the Act but not in paragraphs (a), (c) and (e) of that definition and all or substantially all of the construction of the unit, or all or substantially all of the last substantial renovation of the unit and any subsequent construction or renovation, as the case may be, that is completed at the earlier of the time ownership of the unit is transferred and the time possession of the unit is transferred by the subsequent reseller to the particular person has been completed by a person other than the subsequent reseller, or

• (9) If a subsequent reseller makes a subsequent resale of a residential condominium unit located in a condominium complex to a particular person and no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (8), or no tax would have been payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (8) if that subsection were read without reference to paragraph (8)(c), the subsequent reseller shall indicate in writing to the particular person

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  • (b) that the subsequent reseller was the recipient of a previous supply of the unit in respect of which no tax was payable under subsection 165(2) of the Act pursuant to subsection (3), (6) or (8), as the case may be.

• (10) If

  • [...]

  • (d) the first reseller or subsequent reseller, as the case may be, is required under section 221 of the Act to collect tax in respect of the supply,

  [...]

  • (e) for the purposes of Part IX of the Act the consideration for the supply is deemed to be the amount determined by the formula

    (100%/A) × B

    where

    B 

    is the consideration for the supply as otherwise determined under Part IX of the Act,

  • (f) for the purposes of Part IX of the Act, the first reseller or subsequent reseller, as the case may be, is deemed to have collected, and the recipient is deemed to have paid, on the earlier of the day ownership of the complex or unit is transferred to the recipient and the day possession of the complex or unit is transferred to the recipient under the agreement, tax under subsection 165(2) of the Act calculated on the consideration for the supply, and

  • (g) for the purposes of Part IX of the Act, if the recipient is entitled to claim a rebate under subsection 254(2) of the Act in respect of the complex and the first reseller or subsequent reseller, as the case may be, pays to, or credits to or in favour of, the recipient the amount of the rebate under that subsection, the recipient is deemed to be entitled to claim a rebate in respect of the complex under subsection 256.21(1) of the Act, the amount of which is determined under subsection 41(2) or (3), and the first reseller or subsequent reseller, as the case may be, is deemed to have credited in favour of the recipient the amount of that rebate in accordance with subsection 256.21(3) of the Act on the earlier of the day ownership of the complex or unit is transferred to the recipient and the day possession of the complex or unit is transferred to the recipient under the agreement.

[...]

Marginal note:Transfer of residential condominium unit after June 2010

• 52 (1) If

  • (a) a particular taxable supply by way of sale of a residential condominium unit is made in a specified province to a person under an agreement, evidenced in writing, entered into between the supplier (in this section referred to as the “original vendor”) and the person on or before the qualifying date for the specified province,

  [...]

• [...]

• (2) The rules in paragraphs (1)(d) to (f) apply in respect of an agreement described in paragraph (1)(a) in respect of a residential condominium unit if the following circumstances apply:

  [...]

  In applying those rules, the reference to the “person” in paragraph (1)(e) is to be read as a reference to the “particular person”.

• Marginal note:First reseller

  (3) If a person (in this section referred to as the “first reseller”) makes a taxable supply by way of sale (in this section referred to as the “first resale”) of a residential condominium unit to a particular person under an agreement evidenced in writing and the first reseller is the recipient of a previous supply of the unit that in respect of which no tax is payable under subsection 165(2) of the Act pursuant to subsection (1) or (2), no tax is payable under subsection 165(2) of the Act in respect of the first resale if the following conditions are satisfied:

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  • (d) either

    • (i) the first reseller is a builder of the unit that is described in paragraphs (b) and (d) of the definition builder in subsection 123(1) of the Act but not in paragraphs (a), (c) and (e) of that definition and all or substantially all of the construction of the unit, or all or substantially all of the last substantial renovation of the unit and any subsequent construction or renovation, as the case may be, that is completed at the earlier of the time ownership of the unit is transferred and the time possession of the unit is transferred by the first reseller to the particular person has been completed by a person other than the first reseller, or

• (4) If a first reseller makes a first resale of a residential condominium unit to a particular person and no tax is payable under subsection 165(2) of the Act in respect of the first resale pursuant to subsection (3), or no tax would have been payable under subsection 165(2) of the Act in respect of the first resale pursuant to subsection (3) if that subsection were read without reference to paragraph (3)(e), the first reseller shall indicate in writing to the particular person

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  • (b) that the first reseller was the recipient of a previous supply of the unit in respect of which no tax was payable under subsection 165(2) of the Act pursuant to subsection (1) or (2), as the case may be.

• [...]

• Marginal note:Subsequent reseller

  (6) If a person (in this section referred to as the “subsequent reseller”) makes a taxable supply by way of sale (in this section referred to as the “subsequent resale”) of a residential condominium unit to a particular person under an agreement evidenced in writing and the subsequent reseller is the recipient of a previous supply of the unit in respect of which no tax is payable under subsection 165(2) of the Act pursuant to subsection (3) or this subsection, no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale if the following conditions are satisfied:

  • [...]

  • (b) either

    • (i) the subsequent reseller is a builder of the unit that is described in paragraphs (b) and (d) of the definition builder in subsection 123(1) of the Act but not in paragraphs (a), (c) and (e) of that definition and all or substantially all of the construction of the unit, or all or substantially all of the last substantial renovation of the unit and any subsequent construction or renovation, as the case may be, that is completed at the earlier of the time ownership of the unit is transferred and the time possession of the unit is transferred by the subsequent reseller to the particular individual has been completed by a person other than the subsequent reseller, or

• (7) If a subsequent reseller makes a subsequent resale of a residential condominium unit to a particular person and no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (6), or no tax would have been payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (6) if that subsection were read without reference to paragraph (6)(c), the subsequent reseller shall indicate in writing to the particular person

  • [...]

  • (b) that the subsequent reseller was the recipient of a previous supply of the unit in respect of which no tax was payable under subsection 165(2) of the Act pursuant to subsection (3) or (6), as the case may be.

• (8) If

  • [...]

  • (d) the first reseller or subsequent reseller, as the case may be, is required under section 221 of the Act to collect tax in respect of the supply,

  [...]

  • (e) for the purposes of Part IX of the Act the consideration for the supply is deemed to be the amount determined by the formula

    (100%/A) × B

    where

    B 

    is the consideration for the supply as otherwise determined under Part IX of the Act,

  • (f) for the purposes of Part IX of the Act, the first reseller or subsequent reseller, as the case may be, is deemed to have collected, and the recipient is deemed to have paid, on the earlier of the day ownership of the unit is transferred to the recipient and the day possession of the unit is transferred to the recipient under the agreement, tax under subsection 165(2) of the Act calculated on the consideration for the supply, and

  • (g) for the purposes of Part IX of the Act, if the recipient is entitled to claim a rebate under subsection 254(2) of the Act in respect of the unit and the first reseller or subsequent reseller, as the case may be, pays to, or credits to or in favour of, the recipient the amount of the rebate under that subsection, the recipient is deemed to be entitled to claim a rebate in respect of the unit under subsection 256.21(1) of the Act, the amount of which is determined under subsection 41(2) or (3) and the first reseller or subsequent reseller, as the case may be, is deemed to have credited in favour of the recipient the amount of that rebate in accordance with subsection 256.21(3) of the Act on the earlier of the day ownership of the unit is transferred to the recipient and the day possession of the unit is transferred to the recipient under the agreement.

[...]

Marginal note:Transfer of single unit residential complex after June 2010

• 51 (1) If

  • (a) a particular taxable supply by way of sale of a single unit residential complex (other than a floating home or a mobile home) is made in a specified province to an individual under an agreement, evidenced in writing, entered into between the supplier (in this section referred to as the “original vendor”) and the individual on or before the qualifying date for the specified province,

  [...]

• (2) The rules in paragraphs (1)(d) to (g) apply in respect of an agreement described in paragraph (1)(a) in respect of a single unit residential complex (other than a floating home or a mobile home) if the following circumstances apply:

  [...]

  In applying those rules, the reference to the “individual” in paragraph (1)(e) is to be read as a reference to the “particular individual”.

• Marginal note:First reseller

  (3) If an individual (in this section referred to as the “first reseller”) makes a taxable supply by way of sale (in this section referred to as the “first resale”) of a single unit residential complex (other than a floating home or a mobile home) to a particular individual under an agreement evidenced in writing and the first reseller is the recipient of a previous supply of the complex in respect of which no tax is payable under subsection 165(2) of the Act pursuant to subsection (1) or (2), no tax is payable under subsection 165(2) of the Act in respect of the first resale if the following conditions are satisfied:

  • [...]

  • (d) either

    • (i) the first reseller is a builder of the complex that is described in paragraphs (b) and (d) of the definition builder in subsection 123(1) of the Act but not in paragraphs (a), (c) and (e) of that definition and all or substantially all of the construction of the complex, or all or substantially all of the last substantial renovation of the complex and any subsequent construction or renovation, as the case may be, that is completed at the earlier of the time ownership of the complex is transferred and the time possession of the complex is transferred by the first reseller to the particular individual has been completed by a person other than the first reseller, or

• (4) If a first reseller makes a first resale of a single unit residential complex (other than a floating home or a mobile home) to a particular individual and no tax is payable under subsection 165(2) of the Act in respect of the first resale pursuant to subsection (3), or no tax would have been payable under subsection 165(2) of the Act in respect of the first resale pursuant to subsection (3) if that subsection were read without reference to paragraph (3)(e), the first reseller shall indicate in writing to the particular individual

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  • (b) that the first reseller was the recipient of a previous supply of the complex in respect of which no tax was payable under subsection 165(2) of the Act pursuant to subsection (1) or (2), as the case may be.

• [...]

• Marginal note:Subsequent reseller

  (6) If an individual (in this section referred to as the “subsequent reseller”) makes a taxable supply by way of sale (in this section referred to as the “subsequent resale”) of a single unit residential complex (other than a floating home or a mobile home) to a particular individual under an agreement evidenced in writing and the subsequent reseller is the recipient of a previous supply of the complex in respect of which no tax is payable under subsection 165(2) of the Act pursuant to subsection (3) or this subsection, no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale if the following conditions are satisfied:

  • [...]

  • (b) either

    • (i) the subsequent reseller is a builder of the complex that is described in paragraphs (b) and (d) of the definition builder in subsection 123(1) of the Act but not in paragraphs (a), (c) and (e) of that definition and all or substantially all of the construction of the complex, or all or substantially all of the last substantial renovation of the complex and any subsequent construction or renovation, as the case may be, that is completed at the earlier of the time ownership of the complex is transferred and the time possession of the complex is transferred by the subsequent reseller to the particular individual has been completed by a person other than the subsequent reseller, or

• (7) If a subsequent reseller makes a subsequent resale of a single unit residential complex (other than a floating home or a mobile home) to a particular individual and no tax is payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (6), or no tax would have been payable under subsection 165(2) of the Act in respect of the subsequent resale pursuant to subsection (6) if that subsection were read without reference to paragraph (6)(c), the subsequent reseller shall indicate in writing to the particular individual

  • [...]

  • (b) that the subsequent reseller was the recipient of a previous supply of the complex in respect of which no tax was payable under subsection 165(2) of the Act pursuant to subsection (3) or (6), as the case may be.

• (8) If

  • [...]

  • (d) the first reseller or subsequent reseller, as the case may be, is required under section 221 of the Act to collect tax in respect of the supply,

  [...]

  • (e) for the purposes of Part IX of the Act the consideration for the supply is deemed to be the amount determined by the formula

    (100%/A) × B

    where

    B 

    is the consideration for the supply as otherwise determined under Part IX of the Act,

  • (f) for the purposes of Part IX of the Act, the first reseller or subsequent reseller, as the case may be, is deemed to have collected, and the recipient is deemed to have paid, on the earlier of the day ownership of the complex is transferred to the recipient and the day possession of the complex is transferred to the recipient under the agreement, tax under subsection 165(2) of the Act calculated on the consideration for the supply, and

  • (g) for the purposes of Part IX of the Act, if the recipient is entitled to claim a rebate under subsection 254(2) of the Act in respect of the complex and the first reseller or subsequent reseller, as the case may be, pays to, or credits to or in favour of, the recipient the amount of the rebate under that subsection, the recipient is deemed to be entitled to claim a rebate in respect of the complex under subsection 256.21(1) of the Act, the amount of which is determined under subsection 41(2) or (3) and the first reseller or subsequent reseller, as the case may be, is deemed to have credited in favour of the recipient the amount of that rebate in accordance with subsection 256.21(3) of the Act on the earlier of the day ownership of the complex is transferred to the recipient and the day possession of the complex is transferred to the recipient under the agreement.

[...]

Marginal note:Definitions

• 47 (1) In this subsection, percentage of total floor space, qualifying residential unit and relation have the same meanings as in subsection 256.2(1) of the Act.

• [...]

• Marginal note:Land and building — Ontario

  (3) Subject to subsections (13) to (15), if a person is entitled to claim a rebate under subsection 256.2(3) of the Act in respect of a residential complex, an interest in a residential complex or an addition to a multiple unit residential complex, situated in Ontario, or the person would be so entitled if the fair market value of the complex or addition were less than $450,000, for the purposes of subsection 256.21(1) of the Act, the person is a prescribed person and the amount of the rebate under that subsection in respect of the complex, interest or addition, as the case may be, is equal to the total of all amounts each of which is an amount, in respect of each residential unit that forms part of the complex or addition and that is a qualifying residential unit of the person at the specified time — being the time at which the tax in respect of the complex, interest or addition, as the case may be, first becomes payable in respect of the purchase from the supplier (within the meaning of subparagraph 256.2(3)(a)(i) of the Act) or is deemed to have been paid by the person in respect of the deemed purchase (within the meaning of subparagraph 256.2(3)(a)(ii) of the Act) — equal to the lesser of $24,000 and the amount determined by the formula

  [...]

• [...]

• Marginal note:Sale of building and lease of land — Ontario

  (5) Subject to subsections (13) and (14), if a person is entitled to claim a rebate under subsection 256.2(4) of the Act in respect of a residential complex or an addition to a multiple unit residential complex, situated in Ontario, or the person would be so entitled if the fair market value of the complex or addition were less than $450,000 for the purposes of that subsection and subsection 254.1(2) of the Act and the amount determined by the first formula in subsection 256.2(4) of the Act were a positive amount, for the purposes of subsection 256.21(1) of the Act, the person is a prescribed person and the amount of the rebate in respect of the complex or addition under that subsection is equal to the total of all amounts each of which is an amount, in respect of a residential unit that forms part of the complex or addition, as the case may be, and is, in the case of a multiple unit residential complex or an addition to such a complex, a qualifying residential unit of the person at the specified time — being the time at which the person is deemed under section 191 of the Act to have made and received a taxable supply by way of sale of the complex or addition and to have paid tax in respect of that supply — determined by the formula

  [...]

• [...]

• Marginal note:Cooperative housing corporation — Ontario

  (7) Subject to subsections (13) and (14), if a cooperative housing corporation (in this subsection referred to as the “cooperative”) is entitled to claim a rebate in respect of a residential unit included in a residential complex situated in Ontario under subsection 256.2(5) of the Act, or would be so entitled if the fair market value of the residential complex were less than $450,000 and the amount determined by the first formula in that subsection were a positive amount, for the purposes of subsection 256.21(1) of the Act, the cooperative is a prescribed person in respect of the unit and the amount of the rebate in respect of the unit under that subsection is equal to the amount determined by the formula

  A - B

  where

  A 

  is the lesser of $24,000 and the amount determined by the formula

  A₁ × A₂

  where

  A₁ 

  is 75% of the tax under subsection 165(2) of the Act that is payable in respect of the purchase from the supplier (within the meaning of subparagraph 256.2(5)(a)(i) of the Act) of the complex or an interest in the complex, as the case may be, or is deemed to have been paid in respect of the deemed purchase (within the meaning of subparagraph 256.2(5)(a)(ii) of the Act) of the complex or an addition to the complex, as the case may be, and

• [...]

• (9) Subject subsections (13) and (14), if a person is entitled to claim a rebate under subsection 256.2(6) of the Act in respect of an exempt supply of land situated in Ontario, or the person would be so entitled if the amount determined for B in the formula in that subsection were less than $112,500, for the purposes of subsection 256.21(1) of the Act, the person is a prescribed person and the amount of the rebate in respect of the land under that subsection is equal to

  • (a) in the case of a supply of a site in a residential trailer park or in an addition to a residential trailer park, the lesser of $7,920 multiplied by the total number of sites in the park or addition, as the case may be, and

    [...]

• [...]

• (11) For the purposes of subsection 256.21(2) of the Act, an application for a rebate, the amount of which is determined under subsection (3), (5), (7) or (9), must be filed within two years after,

  • (a) in the case of a rebate in respect of a residential unit the amount of which is determined under subsection (3) or (5), the end of the month in which tax first becomes payable by the person, or is deemed to have been paid by the person, in respect of the unit or interest in the unit or in respect of the residential complex or addition, or interest therein, in which the unit is situated, as the case may be;

• [...]

• (12) The following circumstances are prescribed for the purposes of subsection 256.21(1) of the Act in respect of any rebate, the amount of which is determined under this section, to a person:

  • [...]

  • (b) if the rebate is in respect of a taxable supply in respect of which the person is deemed to have collected tax in a reporting period of the person, the person has reported the tax in the person’s return under Division V of Part IX of the Act for the reporting period and has remitted all net tax remittable, if any, as reported in that return;

• [...]

• Marginal note:Exception — prescribed person

  (15) If, in the absence of this subsection, a person would be, under subsection (3), a prescribed person for the purposes of subsection 256.21(1) of the Act in respect of a qualifying residential unit (other than a unit located in a multiple unit residential complex) and, within one year after the unit is first occupied as a place of residence after the construction or last substantial renovation of the unit was substantially completed, the person makes a supply by way of sale (other than a supply deemed under section 183 or 184 of the Act to have been made) of the unit to a purchaser who is not acquiring the unit for use as the primary place of residence of the purchaser or of a relation of the purchaser, the person is deemed never to have been a prescribed person under subsection (3) for the purposes of subsection 256.21(1) of the Act in respect of the qualifying residential unit.

[...]

44 In applying subsection 255(2) of the Act in respect of

• (a) a residential complex situated in Ontario,

  • (i) the references in that subsection to “$472,500” are to be read as references to “$508,500”,

  • (ii) the references in that subsection to “$367,500” are to be read as references to “$395,500”,

  • (iii) the reference in that subsection to “$105,000” is to be read as a reference to “$113,000”,

  • (iv) the reference in paragraph (g) of that subsection to “1.71%” is to be read as a reference to “the lesser of $6,300 and 1.60%”, and

  • (v) the reference in the description of A in the formula in paragraph (h) of that subsection to “1.71%” is to be read as a reference to “1.60%”;

• (b) a residential complex situated in Nova Scotia,

  • (i) the references in that subsection to “$472,500” are to be read as references to “$517,500”,

  • (ii) the references in that subsection to “$367,500” are to be read as references to “$402,500”,

  • (iii) the reference in that subsection to “$105,000” is to be read as a reference to “$115,000”,

  • (iv) the reference in paragraph (g) of that subsection to “1.71%” is to be read as a reference to “the lesser of $6,300 and 1.57%”, and

  • (v) the reference in the description of A in the formula in paragraph (h) of that subsection to “1.71%” is to be read as a reference to “1.57%”;

• (c) a residential complex situated in New Brunswick,

  • (i) the references in that subsection to “$472,500” are to be read as references to “$517,500”,

  • (ii) the references in that subsection to “$367,500” are to be read as references to “$402,500”,

  • (iii) the reference in that subsection to “$105,000” is to be read as a reference to “$115,000”,

  • (iv) the reference in paragraph (g) of that subsection to “1.71%” is to be read as a reference to “the lesser of $6,300 and 1.57%”, and

  • (v) the reference in the description of A in the formula in paragraph (h) of that subsection to “1.71%” is to be read as a reference to “1.57%”;

• [...]

• (d.1) a residential complex situated in Prince Edward Island,

  • (i) the references in that subsection to “$472,500” are to be read as references to “$517,500”,

  • (ii) the references in that subsection to “$367,500” are to be read as references to “$402,500”,

  • (iii) the reference in that subsection to “$105,000” is to be read as a reference to “$115,000”,

  • (iv) the reference in paragraph (g) of that subsection to “1.71%” is to be read as a reference to “the lesser of $6,300 and 1.57%”, and

  • (v) the reference in the description of A in the formula in paragraph (h) of that subsection to “1.71%” is to be read as a reference to “1.57%”; and

• (e) a residential complex situated in Newfoundland and Labrador,

  • (i) the references in that subsection to “$472,500” are to be read as references to “$517,500”,

  • (ii) the references in that subsection to “$367,500” are to be read as references to “$402,500”,

  • (iii) the reference in that subsection to “$105,000” is to be read as a reference to “$115,000”,

  • (iv) the reference in paragraph (g) of that subsection to “1.71%” is to be read as a reference to “the lesser of $6,300 and 1.57%”, and

  • (v) the reference in the description of A in the formula in paragraph (h) of that subsection to “1.71%” is to be read as a reference to “1.57%”.

[...]