T-0.1 - Act respecting the Québec sales tax

Section 324.2 Disposition versions

2001-12-20

324.2. The rules set out in the second paragraph apply if

(1)  at a particular time a creditor who has seized or repossessed movable property from a person in circumstances in which section 320 applies makes a taxable supply of the property by way of lease, licence or similar arrangement for the first lease interval, within the meaning of section 32.2, in respect of the arrangement;

(2)  the creditor was not deemed under section 323.2 or 323.3 to have received a supply of the property at an earlier time;

(2.1)  the property is not a road vehicle within the meaning of the Highway Safety Code (chapter C-24.2) other than a road vehicle exempt from registration under section 14 of the Highway Safety Code; and

(3)  no tax would have been payable had the property been purchased in Québec from the person at the time it was seized or repossessed;

(4)  (subparagraph repealed).

The creditor is deemed to have received a supply by way of sale of the property immediately before the particular time and, except if the supply is a zero-rated supply, to have paid, immediately before the particular time, all tax payable in respect of the supply, which is deemed to be equal to tax calculated on the fair market value of the property at the time it was seized or repossessed.

1994, c. 22, s. 544; 1995, c. 63, s. 410; 1997, c. 85, s. 609; 2001, c. 51, s. 278; 2001, c. 53, s. 328.

1997-12-19

324.2. The rules set out in the second paragraph apply where

(1)  a creditor makes at any time a taxable supply by way of lease, licence or similar arrangement of movable property seized or repossessed from a person in circumstances in which section 320 applies;

(2)  the creditor was not deemed under section 323.2 or 323.3 to have received a supply of the property at an earlier time; and

(3)  no tax would have been payable had the property been purchased in Québec from the person at the time it was seized or repossessed;

(4)  (subparagraph repealed).

The creditor is deemed to have received a supply of the property, immediately before that time, and to have paid, immediately before that time, all tax payable in respect of the supply, which is deemed to be equal to tax calculated on the fair market value of the property at the time it was seized or repossessed.

1994, c. 22, s. 544; 1995, c. 63, s. 410; 1997, c. 85, s. 609.

1995-12-15

324.2. The rules set out in the second paragraph apply where

(1)  a creditor makes at any time a taxable supply by way of lease, licence or similar arrangement of movable property seized or repossessed from a person in circumstances in which section 320 applies;

(2)  the creditor was not deemed under section 323.2 or 323.3 to have received a supply of the property at an earlier time; and

(3)  no tax would have been payable had the property been purchased in Québec from the person at the time it was seized or repossessed;

(4)  (subparagraph repealed).

The creditor is deemed to have received a supply of the property, immediately before that time, and to have paid, immediately before that time, tax in respect of the supply calculated on the fair market value of the property at the time it was seized or repossessed.

1994, c. 22, s. 544; 1995, c. 63, s. 410.

1994-06-17

324.2. The rules set out in the second paragraph apply where

(1)  a creditor makes at any time a taxable or non-taxable supply by way of lease, licence or similar arrangement of movable property seized or repossessed from a person in circumstances in which section 320 applies;

(2)  the creditor was not deemed under section 323.2 or 323.3 to have received a supply of the property at an earlier time;

(3)  no 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; and

(4)  the person had not last acquired the property by way of a non-taxable supply before the property was seized or repossessed.

The creditor is deemed to have received a supply of the property, immediately before that time, and to have paid, immediately before that time, tax in respect of the supply calculated on the fair market value of the property at the time it was seized or repossessed.

1994, c. 22, s. 544.