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T-0.1 - Act respecting the Québec sales tax

Section 319
Disposition versions

Full text
319. (Repealed).
1991, c. 67, s. 319; 1994, c. 22, s. 539; 1997, c. 85, s. 602.
319. Where at any time, as a consequence of the breach, modification or termination, after 30 June 1992, of an agreement for the making of a taxable supply, other than a zero-rated supply, of property or a service in Québec by or to a registrant, a debt or other obligation, other than consideration for the supply, of the registrant to a person is extinguished or reduced without payment on account of the debt or obligation, the following rules apply:
(1)  the registrant is deemed to have made to the person, and the person is deemed to have received from the registrant, a taxable supply of the property or service for consideration equal to the consideration fraction of the amount by which the debt or obligation was extinguished or reduced; and
(2)  the registrant is deemed to have collected, and the person is deemed to have paid, at that time tax in respect of the supply calculated on that consideration.
However, where the agreement was entered into in writing before 1 July 1992, the debt or obligation is reduced or extinguished after 1992 and tax in respect of the amount was not contemplated in the agreement, subparagraph 2 of the first paragraph does not apply.
1991, c. 67, s. 319; 1994, c. 22, s. 539.
319. Where at any time, as a consequence of the breach, modification or termination of an agreement for the making of a taxable supply, other than a zero-rated supply, of property or a service in Québec by or to a registrant, a debt or other obligation, other than consideration for the supply, of the registrant to a person is extinguished or reduced without payment on account of the debt or obligation, the following rules apply:
(1)  the registrant is deemed to have made a taxable supply of the property or service in Québec to the person;
(2)  the registrant is deemed to have collected tax from the person at that time, equal to the tax fraction of the amount by which the debt or other obligation was extinguished or reduced; and
(3)  the person is deemed to have received that supply and to have paid, at that time, that tax.
1991, c. 67, s. 319.
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