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T-0.1 - Act respecting the Québec sales tax

Section 323.1
Disposition versions

Full text
323.1. Where a creditor who has seized or repossessed an immovable in circumstances in which section 320 applies or would, but for section 324.6, apply, begins at any time to use the immovable otherwise than in the making of a supply of the property, the creditor is deemed to have made a supply of the property at that time and, except where the supply is an exempt supply, the following rules apply:
(1)  the creditor is deemed to have collected, at that time, tax in respect of the supply equal to the amount determined by multiplying the fair market value of the property at that time by 9.975/109.975; and
(2)  the creditor is deemed to have acquired the property and paid that tax at that time.
1994, c. 22, s. 542; 1995, c. 63, s. 406; 1997, c. 85, s. 604; 2010, c. 5, s. 222; 2011, c. 6, s. 259; 2012, c. 28, s. 102.
323.1. Where a creditor who has seized or repossessed an immovable in circumstances in which section 320 applies or would, but for section 324.6, apply, begins at any time to use the immovable otherwise than in the making of a supply of the property, the creditor is deemed to have made a supply of the property at that time and, except where the supply is an exempt supply, the following rules apply:
(1)  the creditor is deemed to have collected, at that time, tax in respect of the supply equal to the amount determined by multiplying the fair market value of the property at that time by 9.5/109.5; and
(2)  the creditor is deemed to have acquired the property and paid that tax at that time.
1994, c. 22, s. 542; 1995, c. 63, s. 406; 1997, c. 85, s. 604; 2010, c. 5, s. 222; 2011, c. 6, s. 259.
323.1. Where a creditor who has seized or repossessed an immovable in circumstances in which section 320 applies or would, but for section 324.6, apply, begins at any time to use the immovable otherwise than in the making of a supply of the property, the creditor is deemed to have made a supply of the property at that time and, except where the supply is an exempt supply, the following rules apply:
(1)  the creditor is deemed to have collected, at that time, tax in respect of the supply equal to the amount determined by multiplying the fair market value of the property at that time by 8.5/108.5; and
(2)  the creditor is deemed to have acquired the property and paid that tax at that time.
1994, c. 22, s. 542; 1995, c. 63, s. 406; 1997, c. 85, s. 604; 2010, c. 5, s. 222.
323.1. Where a creditor who has seized or repossessed an immovable in circumstances in which section 320 applies or would, but for section 324.6, apply, begins at any time to use the immovable otherwise than in the making of a supply of the property, the creditor is deemed to have made a supply of the property at that time and, except where the supply is an exempt supply, the following rules apply:
(1)  the creditor is deemed to have collected, at that time, tax in respect of the supply equal to the amount determined by multiplying the fair market value of the property at that time by 7.5/107.5; and
(2)  the creditor is deemed to have acquired the property and paid that tax at that time.
1994, c. 22, s. 542; 1995, c. 63, s. 406; 1997, c. 85, s. 604.
323.1. Where a creditor who has seized or repossessed an immovable in circumstances in which section 320 applies or would, but for section 324.6, apply, begins at any time to use the immovable otherwise than in the making of a supply of the property, the creditor is deemed to have made a supply of the property at that time and, except where the supply is an exempt supply, the following rules apply:
(1)  the creditor is deemed to have collected, at that time, tax in respect of the supply equal to the tax fraction of the fair market value of the property at that time; and
(2)  the creditor is deemed to have acquired the property and paid that tax at that time.
1994, c. 22, s. 542; 1995, c. 63, s. 406.
323.1. Where a creditor who has seized or repossessed an immovable in circumstances in which section 320 applies or would, but for section 324.6, apply, begins at any time to use the immovable otherwise than in the making of a supply of the property, the creditor is deemed to have made a supply of the property at that time and, except where the supply is an exempt or a non-taxable supply, the following rules apply:
(1)  the creditor is deemed to have collected, at that time, tax in respect of the supply equal to the tax fraction of the fair market value of the property at that time; and
(2)  the creditor is deemed to have acquired the property and paid that tax at that time.
1994, c. 22, s. 542.
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