T-0.1 - Act respecting the Québec sales tax

Section 232.1 Disposition versions

2023-09-26

232.1. Where a taxable supply of a single unit residential complex, within the meaning of section 360.5, or of a residential unit held in co-ownership is made by way of sale in Québec under an agreement of purchase and sale entered into with a builder of the complex or unit and where another supply by way of assignment of the agreement of purchase and sale is made by a person (other than the builder) under another agreement, the following rules apply:

(1)  the other supply is deemed to be a taxable supply by way of sale of an immovable that is an interest in the single unit residential complex or residential unit held in co-ownership; and

(2)  the consideration for the other supply is deemed to be equal to the amount determined by the formula

A − B.

For the purposes of the formula in the first paragraph,

(1)  A is the consideration for the other supply as otherwise determined for the purposes of this Title; and

(2)  B is

(a)  where the other agreement indicates in writing that a part of the consideration for the other supply is attributable to the reimbursement of a deposit paid under the agreement of purchase and sale, the part of the consideration for the other supply, as otherwise determined for the purposes of this Title, that is solely attributable to that reimbursement, or

(b)  in any other case, zero.

2023, c. 19, s. 133.