T-0.1 - Act respecting the Québec sales tax

Section 264 Disposition versions

1997-12-19

264. Where an individual who is a registrant last acquired an immovable for use as capital property of the individual and primarily for the personal use and enjoyment of the individual or a related individual or for use otherwise than in commercial activities of the individual, and the individual begins, at a particular time, to use the immovable as capital property in commercial activities of the individual and not primarily for the personal use and enjoyment of the individual or a related individual, the individual is deemed

(1)  to have received, at the particular time, a supply by way of sale of the immovable; and

(2)  except where the supply is an exempt supply, to have paid, at the particular time, tax in respect of the supply equal to the basic tax content of the immovable at the particular time.

1991, c. 67, s. 264; 1994, c. 22, s. 506; 1997, c. 85, s. 575.

1994-06-17

264. Where an individual who is a registrant last acquired an immovable for use as capital property of the individual but primarily for the personal use and enjoyment of the individual or a related individual and the individual begins, at a particular time, to use the immovable as capital property in commercial activities of the individual, and not primarily for the personal use and enjoyment of the individual or a related individual, the individual is deemed

(1)  to have received, at the particular time, a supply by way of sale of the immovable; and

(2)  except where the supply is an exempt supply, to have paid, at the particular time, tax in respect of the supply equal to the lesser of

(a)  an amount equal to the total of the tax that was payable by the individual in respect of the last acquisition of the immovable by the individual and the tax that was payable by the individual in respect of improvements to the immovable acquired or brought into Québec by the individual after the immovable was last so acquired, and

(b)  an amount equal to the tax calculated on the fair market value of the immovable at the particular time.

1991, c. 67, s. 264; 1994, c. 22, s. 506.

1992-07-01

264. Where an immovable was acquired by a registrant who is an individual and the registrant was not entitled, by reason of the purpose for which the immovable was acquired, to claim an input tax refund in respect of the immovable, or the registrant was deemed under section 261 to have made a supply of the immovable, and the registrant begins at a particular time to use the immovable as capital property in commercial activities of the registrant, and not primarily for the personal use and enjoyment of the registrant or any related individual, the registrant is deemed

(1)  to have received, immediately before the particular time, a supply by way of sale of the immovable; and

(2)  except where the supply is an exempt supply, to have paid, at the particular time, tax in respect of the supply equal to the lesser of

(a)  an amount equal to the total of the tax that was payable by the registrant in respect of the acquisition of the immovable and the tax that was payable by the registrant in respect of improvements to the immovable or, where the registrant was deemed under section 261 to have made a supply of the immovable at an earlier time, the total of the tax deemed under that section to have been collected by the registrant at that earlier time and the tax that was payable by the registrant after that earlier time in respect of improvements to the immovable; and

(b)  an amount equal to the tax that would be payable by the registrant if the registrant had acquired the immovable at the particular time for consideration equal to the fair market value of the immovable at the particular time.

1991, c. 67, s. 264.