Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

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

Regulations are current to 2020-06-17 and last amended on 2019-03-04. Previous Versions

PART 9.1Prince Edward Island Real Property Transitional Rules (continued)

DIVISION 4Transitional New Housing Rebates (continued)

Marginal note:Rebate for a specified single unit residential complex

  •  (1) For the purposes of subsection 256.21(1) of the Act, the following circumstances are prescribed circumstances in respect of a specified single unit residential complex:

    • (a) a builder of the complex

      • (i) is deemed under section 191 of the Act to have made a taxable supply of the complex as a consequence of giving possession or use of the complex to a person or of occupying it as a place of residence, or

      • (ii) makes a taxable supply by way of sale of the complex to an individual;

    • (b) the complex is situated in Prince Edward Island;

    • (c) tax under subsection 165(2) of the Act is payable in respect of the supply;

    • (d) if subparagraph (a)(i) applies, first possession or use of the complex as a place of residence, after substantial completion of its construction or last substantial renovation, occurs on or after April 1, 2013 and before April 1, 2017;

    • (e) if subparagraph (a)(ii) applies, possession of the complex is transferred to the individual on or after April 1, 2013 and before April 1, 2017; and

    • (f) that construction or last substantial renovation of the complex is 10% or more completed immediately after March 2013.

  • Marginal note:Prescribed property and person

    (2) If the circumstances described in subsection (1) are satisfied in respect of a complex, for the purposes of subsection 256.21(1) of the Act, the complex is prescribed property and

    • (a) in the case described in subparagraph (1)(a)(i), the builder referred to in paragraph (1)(a) is a prescribed person; and

    • (b) in the case described in subparagraph (1)(a)(ii), the individual referred to in that subparagraph is a prescribed person.

  • Marginal note:Assignment of rebate

    (3) If the circumstances described in subsection (1) are satisfied in respect of a complex and subparagraph (1)(a)(ii) applies in respect of the complex, for the purposes of subsection 256.21(6) of the Act, the rebate under subsection 256.21(1) of the Act in respect of the complex, the amount of which is determined under subsection (4), is a prescribed rebate and that rebate may be assigned to the builder of the complex referred to in paragraph (1)(a).

  • Marginal note:Amount of rebate

    (4) If the circumstances described in subsection (1) are satisfied in respect of a complex, for the purposes of subsection 256.21(1) of the Act, the amount of the rebate in respect of the complex under that subsection is

    • (a) 100% of the estimated provincial levy for the complex if the construction or last substantial renovation of the complex is, immediately after March 2013, 90% or more completed;

    • (b) 90% of the estimated provincial levy for the complex if the construction or last substantial renovation of the complex is, immediately after March 2013, 75% or more but less than 90% completed;

    • (c) 75% of the estimated provincial levy for the complex if the construction or last substantial renovation of the complex is, immediately after March 2013, 50% or more but less than 75% completed;

    • (d) 50% of the estimated provincial levy for the complex if the construction or last substantial renovation of the complex is, immediately after March 2013, 25% or more but less than 50% completed; or

    • (e) 25% of the estimated provincial levy for the complex if the construction or last substantial renovation of the complex is, immediately after March 2013, 10% or more but less than 25% completed.

  • SOR/2013-44, s. 40

Marginal note:Rebate for specified residential complex

  •  (1) For the purposes of subsection 256.21(1) of the Act, the following circumstances are prescribed circumstances in respect of a specified residential complex:

    • (a) immediately before April 1, 2013, a builder of the specified residential complex situated in Prince Edward Island owns or has possession of the complex;

    • (b) the builder referred to in paragraph (a) had not, before April 1, 2013, transferred ownership or possession of the complex under an agreement of purchase and sale to any person who is not a builder of the complex;

    • (c) if the specified residential complex is not a residential condominium unit, the construction of the complex or, in the case of a substantial renovation, the last substantial renovation of the complex, is, immediately after March 2013, 10% or more completed;

    • (d) if the specified residential complex is a residential condominium unit that is being substantially renovated and the condominium complex in which the residential condominium unit is situated is not being substantially renovated, the last substantial renovation of the specified residential complex, is, immediately after March 2013, 10% or more completed; and

    • (e) if the specified residential complex is a residential condominium unit and the condominium complex in which the unit is situated is being constructed or substantially renovated, the construction of the condominium complex or, in the case of a substantial renovation, the last substantial renovation of the condominium complex, is, immediately after March 2013, 10% or more completed.

  • Marginal note:Prescribed property and person

    (2) If the circumstances described in subsection (1) are satisfied in respect of a specified residential complex, for the purposes of subsection 256.21(1) of the Act, the complex is prescribed property and the builder of the complex is a prescribed person.

  • Marginal note:Exception — prescribed person

    (3) If subsections 191(1) to (4) of the Act do not apply to a builder of a specified residential complex as a consequence of the application of any of subsections 191(5) to (7) of the Act, the builder is deemed never to have been a prescribed person under subsection (2) in respect of the complex for the purposes of subsection 256.21(1) of the Act.

  • Marginal note:Amount of rebate

    (4) If the circumstances described in subsection (1) are satisfied in respect of a specified residential complex, for the purposes of subsection 256.21(1) of the Act, the amount of the rebate under that subsection is

    • (a) if the specified residential complex is not a residential condominium unit,

      • (i) 100% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after March 2013, 90% or more completed,

      • (ii) 90% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after March 2013, 75% or more but less than 90% completed,

      • (iii) 75% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after March 2013, 50% or more but less than 75% completed,

      • (iv) 50% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after March 2013, 25% or more but less than 50% completed, or

      • (v) 25% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after March 2013, 10% or more but less than 25% completed;

    • (b) if the specified residential complex is a residential condominium unit that is being substantially renovated and the condominium complex in which the residential condominium unit is situated is not being substantially renovated,

      • (i) 100% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after March 2013, 90% or more completed,

      • (ii) 90% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after March 2013, 75% or more but less than 90% completed,

      • (iii) 75% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after March 2013, 50% or more but less than 75% completed,

      • (iv) 50% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after March 2013, 25% or more but less than 50% completed, or

      • (v) 25% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after March 2013, 10% or more but less than 25% completed; or

    • (c) if the specified residential complex is a residential condominium unit and the condominium complex in which the unit is situated is being constructed or substantially renovated,

      • (i) 100% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after March 2013, 90% or more completed,

      • (ii) 90% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after March 2013, 75% or more but less than 90% completed,

      • (iii) 75% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after March 2013, 50% or more but less than 75% completed,

      • (iv) 50% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after March 2013, 25% or more but less than 50% completed, or

      • (v) 25% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after March 2013, 10% or more but less than 25% completed.

  • SOR/2013-44, s. 40
 
Date modified: