T-0.1 - Act respecting the Québec sales tax

Section 323.2 Disposition versions

2013-01-01

323.2. Where a creditor who has seized or repossessed movable property from a person before 1 January 1994, in circumstances in which section 320 applies or would, but for section 324.6, apply, 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 creditor is deemed to have received, immediately after the particular time, a supply by way of sale of the property; and

(2)  where tax would have been payable had the property been purchased in Québec from the person at the time it was seized or repossessed, the creditor is deemed

(a)  to have made, at the particular time, a taxable supply of the property and to have collected, at that time, tax in respect of that supply equal to the amount determined by multiplying the fair market value of the property at the time it was seized or repossessed by 9.975/109.975, and

(b)  to have paid, immediately after the particular time, tax in respect of the supply referred to in paragraph 1 equal to the amount determined under subparagraph a.

1994, c. 22, s. 542; 1995, c. 63, s. 407; 1997, c. 85, s. 605; 2010, c. 5, s. 223; 2011, c. 6, s. 260; 2012, c. 28, s. 103.

2012-01-01

323.2. Where a creditor who has seized or repossessed movable property from a person before 1 January 1994, in circumstances in which section 320 applies or would, but for section 324.6, apply, 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 creditor is deemed to have received, immediately after the particular time, a supply by way of sale of the property; and

(2)  where tax would have been payable had the property been purchased in Québec from the person at the time it was seized or repossessed, the creditor is deemed

(a)  to have made, at the particular time, a taxable supply of the property and to have collected, at that time, tax in respect of that supply equal to the amount determined by multiplying the fair market value of the property at the time it was seized or repossessed by 9.5/109.5, and

(b)  to have paid, immediately after the particular time, tax in respect of the supply referred to in paragraph 1 equal to the amount determined under subparagraph a.

1994, c. 22, s. 542; 1995, c. 63, s. 407; 1997, c. 85, s. 605; 2010, c. 5, s. 223; 2011, c. 6, s. 260.

2011-01-01

323.2. Where a creditor who has seized or repossessed movable property from a person before 1 January 1994, in circumstances in which section 320 applies or would, but for section 324.6, apply, 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 creditor is deemed to have received, immediately after the particular time, a supply by way of sale of the property; and

(2)  where tax would have been payable had the property been purchased in Québec from the person at the time it was seized or repossessed, the creditor is deemed

(a)  to have made, at the particular time, a taxable supply of the property and to have collected, at that time, tax in respect of that supply equal to the amount determined by multiplying the fair market value of the property at the time it was seized or repossessed by 8.5/108.5, and

(b)  to have paid, immediately after the particular time, tax in respect of the supply referred to in paragraph 1 equal to the amount determined under subparagraph a.

1994, c. 22, s. 542; 1995, c. 63, s. 407; 1997, c. 85, s. 605; 2010, c. 5, s. 223.

1997-12-19

323.2. Where a creditor who has seized or repossessed movable property from a person before 1 January 1994, in circumstances in which section 320 applies or would, but for section 324.6, apply, 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 creditor is deemed to have received, immediately after the particular time, a supply by way of sale of the property; and

(2)  where tax would have been payable had the property been purchased in Québec from the person at the time it was seized or repossessed, the creditor is deemed

(a)  to have made, at the particular time, a taxable supply of the property and to have collected, at that time, tax in respect of that supply equal to the amount determined by multiplying the fair market value of the property at the time it was seized or repossessed by 7.5/107.5, and

(b)  to have paid, immediately after the particular time, tax in respect of the supply referred to in paragraph 1 equal to the amount determined under subparagraph a.

1994, c. 22, s. 542; 1995, c. 63, s. 407; 1997, c. 85, s. 605.

1995-12-15

323.2. Where a creditor who has seized or repossessed movable property from a person before 1 January 1994, in circumstances in which section 320 applies or would, but for section 324.6, apply, 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 creditor is deemed

(a)  to have received, immediately after the particular time, a supply by way of sale of the property, and

(b)  where the property was, at the time it was seized or repossessed, 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 after that acquisition until the creditor 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 seized or repossessed, the creditor is deemed

(a)  to have made, at the particular time, a taxable supply of the property and to have collected, at that 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 seized or repossessed, and

(b)  to have paid, immediately after the particular time, tax in respect of the supply referred to in subparagraph a of paragraph 1 equal to the amount determined under subparagraph a.

1994, c. 22, s. 542; 1995, c. 63, s. 407.

1994-06-17

323.2. Where a creditor who has seized or repossessed movable property from a person before 1 January 1994, in circumstances in which section 320 applies or would, but for section 324.6, apply, 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 creditor is deemed

(a)  to have received, immediately after the particular time, a supply by way of sale of the property, and

(b)  where the property was, at the time it was seized or repossessed, 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 after that acquisition until the creditor 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 seized or repossessed, the creditor is deemed

(a)  to have made, at the particular time, a taxable supply of the property and to have collected, at that 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 seized or repossessed, and

(b)  to have paid, immediately after the particular time, tax in respect of the supply referred to in subparagraph a of paragraph 1 equal to the amount determined under subparagraph a.

1994, c. 22, s. 542.