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T-0.1 - Act respecting the Québec sales tax
Section 300.2
Disposition versions
300.2. Where an insurer to whom movable property has been transferred from a person after 31 December 1993, in circumstances in which section 298 applies, begins at a particular time to use the property otherwise than in the making of a supply of the property, the following rules apply:
(1) the insurer is deemed
(a) to have received, immediately after the particular time, a supply by way of sale of the property, and
(b) to have paid, immediately after the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 9.975/109.975, except where
i. the supply is a zero-rated supply, or
ii. in the case of property that was, at the time it was transferred, specified corporeal movable property having a fair market value in excess of the prescribed amount in respect of the property, tax would not have been payable had the property been purchased in Québec from the person at that time; and
(2) where tax would have been payable had the property been purchased in Québec from the person at the time it was transferred, the insurer is deemed
(a) to have made, at the particular time, a taxable supply of the property, and
(b) to have collected, at the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 9.975/109.975.
300.2. Where an insurer to whom movable property has been transferred from a person after 31 December 1993, in circumstances in which section 298 applies, begins at a particular time to use the property otherwise than in the making of a supply of the property, the following rules apply:
(1) the insurer is deemed
(a) to have received, immediately after the particular time, a supply by way of sale of the property, and
(b) to have paid, immediately after the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 9.5/109.5, except where
i. the supply is a zero-rated supply, or
ii. in the case of property that was, at the time it was transferred, specified corporeal movable property having a fair market value in excess of the prescribed amount in respect of the property, tax would not have been payable had the property been purchased in Québec from the person at that time; and
(2) where tax would have been payable had the property been purchased in Québec from the person at the time it was transferred, the insurer is deemed
(a) to have made, at the particular time, a taxable supply of the property, and
(b) to have collected, at the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 9.5/109.5.
300.2. Where an insurer to whom movable property has been transferred from a person after 31 December 1993, in circumstances in which section 298 applies, begins at a particular time to use the property otherwise than in the making of a supply of the property, the following rules apply:
(1) the insurer is deemed
(a) to have received, immediately after the particular time, a supply by way of sale of the property, and
(b) to have paid, immediately after the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 8.5/108.5, except where
i. the supply is a zero-rated supply, or
ii. in the case of property that was, at the time it was transferred, specified corporeal movable property having a fair market value in excess of the prescribed amount in respect of the property, tax would not have been payable had the property been purchased in Québec from the person at that time; and
(2) where tax would have been payable had the property been purchased in Québec from the person at the time it was transferred, the insurer is deemed
(a) to have made, at the particular time, a taxable supply of the property, and
(b) to have collected, at the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 8.5/108.5.
300.2. Where an insurer to whom movable property has been transferred from a person after 31 December 1993, in circumstances in which section 298 applies, begins at a particular time to use the property otherwise than in the making of a supply of the property, the following rules apply:
(1) the insurer is deemed
(a) to have received, immediately after the particular time, a supply by way of sale of the property, and
(b) to have paid, immediately after the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 7.5/107.5, except where
i. the supply is a zero-rated supply, or
ii. in the case of property that was, at the time it was transferred, specified corporeal movable property having a fair market value in excess of the prescribed amount in respect of the property, tax would not have been payable had the property been purchased in Québec from the person at that time; and
(2) where tax would have been payable had the property been purchased in Québec from the person at the time it was transferred, the insurer is deemed
(a) to have made, at the particular time, a taxable supply of the property, and
(b) to have collected, at the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 7.5/107.5.
300.2. Where an insurer to whom movable property has been transferred from a person after 31 December 1993, in circumstances in which section 298 applies, begins at a particular time to use the property otherwise than in the making of a supply of the property, the following rules apply:
(1) the insurer is deemed
(a) to have received, immediately after the particular time, a supply by way of sale of the property, and
(b) to have paid, immediately after the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 7.5/107.5, except where
i. the property was, at the time it was transferred, specified corporeal movable property having a fair market value in excess of the amount prescribed in respect of the property, and
ii. tax would not have been payable had the property been purchased in Québec from the person at the time it was transferred; and
(2) where tax would have been payable had the property been purchased in Québec from the person at the time it was transferred, the insurer is deemed
(a) to have made, at the particular time, a taxable supply of the property, and
(b) to have collected, at the particular time, all tax payable in respect of that supply, which is deemed to be equal to the amount determined by multiplying the fair market value of the property at the time it was transferred by 7.5/107.5.
300.2. Where an insurer to whom movable property has been transferred from a person after 31 December 1993, in circumstances in which section 298 applies, begins at a particular time to use the property otherwise than in the making of a supply of the property, the following rules apply:
(1) the insurer is deemed
(a) to have received, immediately after the particular time, a supply of the property and to have paid, immediately after the particular time, tax in respect of that supply equal to the tax fraction of the fair market value of the property at the time it was transferred, and
(b) where the property was, at the time it was transferred, specified corporeal movable property having a fair market value in excess of the amount prescribed in respect of the property for the purposes of subdivision 3 of Division II of Chapter V, to have acquired the property for use, and to use the property at all times after that acquisition until the insurer disposes of the property, exclusively in activities other than commercial activities; and
(2) where tax would have been payable had the property been purchased in Québec from the person at the time it was transferred, the insurer is deemed
(a) to have made, at the particular time, a taxable supply of the property, and
(b) to have collected, at the particular time, tax in respect of that supply equal to the tax fraction of the fair market value of the property at the time it was transferred.
300.2. Where an insurer to whom movable property has been transferred from a person after 31 December 1993, in circumstances in which section 298 applies, begins at a particular time to use the property otherwise than in the making of a supply of the property, the following rules apply:
(1) the insurer is deemed
(a) to have received, immediately after the particular time, a supply of the property and to have paid, immediately after the particular time, tax in respect of that supply equal to the tax fraction of the fair market value of the property at the time it was transferred, and
(b) where the property was, at the time it was transferred, specified corporeal movable property having a fair market value in excess of the amount prescribed in respect of the property for the purposes of subdivision 3 of Division II of Chapter V, to have acquired the property for use, and to use the property at all times after that acquisition until the insurer disposes of the property, exclusively in activities other than commercial activities; and
(2) where tax would have been payable had the property been purchased in Québec from the person, otherwise than by way of a non-taxable supply, at the time it was transferred, the insurer is deemed
(a) to have made, at the particular time, a taxable supply of the property, and
(b) to have collected, at the particular time, tax in respect of that supply equal to the tax fraction of the fair market value of the property at the time it was transferred.
