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T-0.1 - Act respecting the Québec sales tax
Section 288
Disposition versions
288. (Repealed).
288. Where a registrant receives a non-taxable supply of movable property and, at any time, begins to use the property as capital property, the following rules apply:
(1) the registrant is deemed to have made and received a supply of the property by way of sale for consideration paid at that time equal to the fair market value of the property at that time; and
(2) the registrant is deemed to have, at that time, paid as recipient and collected as supplier the tax in respect of the supply calculated on that consideration.
This section does not apply where section 288.2 applies.
288. Where a registrant receives a non-taxable supply of movable property and, at any time, begins to use the property as capital property, the following rules apply:
(1) the registrant is deemed to have made and received a supply of the property by way of sale for consideration paid at that time equal to the fair market value of the property at that time; and
(2) the registrant is deemed to have, at that time, paid as recipient and collected as supplier the tax in respect of the supply calculated on that consideration.
