T-0.1 - Act respecting the Québec sales tax

Section 262.1 Disposition versions

2013-01-01

262.1. Despite sections 261 and 262, where an individual is a registrant who, on 1 January 2013, reduces the extent to which an immovable is used as capital property in commercial activities of the registrant or ceases to use the immovable as capital property in such activities, because of Division VI.1 of Chapter III, and, immediately before 1 January 2013, the registrant used the immovable in commercial activities of the individual, and not primarily for the personal use and enjoyment of the individual or a related individual, the following rules apply:

(1)  the registrant is deemed to have made, immediately before 1 January 2013, a supply of the immovable by way of sale and, except where the supply is an exempt supply, to have collected, at that time, tax in respect of the supply equal to the basic tax content of the immovable at that time; and

(2)  the registrant is deemed to have received, immediately after 31 December 2012, a supply of the immovable by way of sale and, except where the supply is an exempt supply, to have paid, at that time, tax in respect of the supply equal to the basic tax content of the immovable at that time.

2012, c. 28, s. 81.