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Indirect Tax > Excise Tax Act > Flashcards

Excise Tax Act Flashcards

(62 cards)

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1
Q

Section 122

A

Cover page for Part IX of the ETA

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2
Q

Section 123

A

Definitions applicable in Part IX and Schedules V to X; also section 121

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3
Q

Section 121

A

New Housing Rebate

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4
Q

Section 124

A

Compound interest details

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5
Q

Section 125

A

What happens when a calculation results in a negative number?

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6
Q

Section 126

A

Arm’s Length and Related Parties

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7
Q

Section 127

A

Associated persons

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8
Q

Section 128

A

Closely related corporations

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9
Q

Section 129

A

PSBs: Small supplier divisions and branches

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10
Q

Section 130

A

Members of unincorporated organisations

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11
Q

Section 130.1

A

Arrangements deemed to be trusts

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12
Q

Section 131

A

Segregated funds of insurers as separate persons

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13
Q

Section 132

A

Canadian residency and permanent establishments

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14
Q

Section 132.1

A

Meaning of “permanent establishment” and provincial residency

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15
Q

Section 133

A

Agreement to provide property or service = supply

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16
Q

Section 134

A

Is the transfer of a security interest a supply?

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17
Q

Section 135

A

Sponsorship of public sector bodies

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18
Q

Section 136

A

Are leases supplies?

Separate supply rules around real property

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19
Q

Section 136.1

A

Lease interval rules

Purchase at the end of a lease

Ongoing supplies of services

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20
Q

Section 136.2

A

Separate Supplies of real property split between provinces

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21
Q

Section 136.3

A

Separate supplies of freight services

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22
Q

Section 136.4

A

“Dedicated Telecommunications channel” and separate supplies

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23
Q

Section 137

A

Coverings/containers supplied with property - single supply

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24
Q

Section 138

A

Incidental supplies

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25
Section 139
Mixed supplies including financial services
26
Section 140
Supply of membership along with security
27
Section 141
Use in the course of “commercial activities”
28
Section 141.01
Consideration and: - Grants and subsidies - acquisition and use for the purpose of making supplies - determining extent of use - free supplies
29
Section 141.02
Allocation methodology
30
Section 141.1 / 141.2
Sale of personal property / sale of personal property by a municipality
31
Section 142
Place of supply
32
Section 142.1
Telecommunications: place of supply and billing location
33
Section 143
Place of supply for non-residents
34
Section 143.1
Place of supply by mail or courier
35
Section 144
Supply of goods before they clear customs = supplied outside Canada
36
Section 144.01
Place of supply of “continuous transmission commodities”
37
Section 144.1
Provincial place of supply rules
38
Section 145
Repealed!
39
Section 146
Supplies by governments and municipalities that are deemed to be in the course of commercial activity
40
Section 147
Repealed!
41
Section 148
Small supplier rules
42
Section 148.1
Small supplier status for charities and public institutions; definition of “gross revenue”
43
Section 149
Who is a financial institution? What is an investment plan?
44
Section 150
Election for exempt supplies between a listed financial institution and a related party
45
Section 151
Corps that make a s150 election become deemed financial institutions.
46
Section 152
- When consideration is due, including for leases etc. | - “Payment” for consideration that is not money
47
Section 153
- value of consideration - consideration when value shifted between multiple supplies - Barter and trade-ins - sale and leaseback - non arms length supplies - natural gas liquids and make-up gas
48
Section 154
Provincial levies are included in consideration
49
Section 155
Non arm’s length supplies
50
Section 156
Election for nil consideration
51
Section 157
Election for nil consideration for pension plans
52
Section 158
Tax refund discounts - is it a supply when you purchase the right to a refund?
53
Section 159
Value of consideration in Canadian currency
54
Section 160
Consideration and coin operated devices
55
Section 161
Value of consideration for early payment discounts and late payment penalties
56
Section 162
Rules regarding consideration and natural resources
57
Section 162.1
Consideration regarding rolling stock penalties and demurrage
58
Section 163
Consideration and tour packages
59
Section 164
Consideration and donations
60
Section 164.1
Consideration and supplies by farming “feedlots”
61
Section 164.2
When a Union/association reimburses an employer for an employee’s time spent on union/association matters, is this consideration for a supply?
62
What are the divisions of Part IX of the Excise Tax Act?
Division I - Interpretation S123-164 Division II - GST S165-211 Division III - Tax on importation of goods S212-216 Division IV - Tax on imported taxable supplies S217-220 Division IV.1 - tax on property and services brought into a participating province S220.01-220.09 Division V - collection and remittance of Division II tax S221-s251 Division VI - Rebates S252-264 Division VII - Miscellaneous S265-274 Division VIII - Admin and enforcement S275-335 Division XI - Transitional provisions S336-347 Division X - transitional provisions for participating provinces S348-363.2

Indirect Tax (1 decks)

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