T-0.1 - Act respecting the Québec sales tax

Section 659 Disposition versions

1993-06-15

659. Where the inventory of a person who, as of 1 July 1992, is registered under Division I of Chapter VIII of Title I includes, at the beginning of that day, used movable property acquired for the purpose of supply by way of sale or lease in commercial activities of the person, the used movable property is deemed, for the purposes of sections 213 to 219, to be used corporeal movable property supplied by way of sale in Québec on 1 July 1992 to the person, in respect of which tax was not payable by the person, and to have been acquired for the purpose of supply in commercial activities of the person for consideration, paid on 1 July 1992, equal to 50% of the amount at which the property would be required to be valued on that day for the purpose of computing the person’s income from a business for the purposes of the Taxation Act (chapter I-3).

The used movable property referred to in the first paragraph does not include

(1)  capital properties of the person;

(1.1)  road vehicles of the person;

(2)  property that is included in the description of any other person’s inventory as of 1 July 1992;

(3)  property for which a rebate under section 658 may be applied for; or

(4)  property which, before 1 July 1992, has been incorporated into new construction or a renovation or improvement or has otherwise been delivered to a construction, renovation or improvement job site.

1991, c. 67, s. 659; 1993, c. 19, s. 248.

1992-07-01

659. Where the inventory of a person who, as of 1 July 1992, is registered under Division I of Chapter VIII of Title I includes, at the beginning of that day, used movable property acquired for the purpose of supply by way of sale or lease in commercial activities of the person, the used movable property is deemed, for the purposes of sections 213 to 219, to be used corporeal movable property supplied by way of sale in Québec on 1 July 1992 to the person, in respect of which tax was not payable by the person, and to have been acquired for the purpose of supply in commercial activities of the person for consideration, paid on 1 July 1992, equal to 50 % of the amount at which the property would be required to be valued on that day for the purpose of computing the person’s income from a business for the purposes of the Taxation Act (chapter I-3).

The used movable property referred to in the first paragraph does not include

(1)  capital properties of the person;

(2)  property that is included in the description of any other person’s inventory as of 1 July 1992;

(3)  property for which a rebate under section 658 may be applied for; or

(4)  property which, before 1 July 1992, has been incorporated into new construction or a renovation or improvement or has otherwise been delivered to a construction, renovation or improvement job site.

1991, c. 67, s. 659.