Excise Tax Act — E-15 351
Transfer of single unit residential complex after implementation 351 (1) Where (a) a supply by way of sale of a single unit residential complex, or of a building or part of it in which a residential unit forming part of such a complex is located, is made in a participating province to an individual under an agreement in writing between the supplier and the individual entered into on or before the announcement date for that province, and (b) in the case of a sale of the complex, ownership of it is not transferred to the individual under the agreement before the implementation date for that province and, in any case, possession of the complex is transferred to the individual under the agreement on or after that implementation date, the following rules apply: (c) no tax is payable under subsection 165(2) in respect of the supply made under that agreement or in respect of any supply of the complex deemed under subsection 191(1) to have been made before, or as a consequence of, the transfer of possession of the complex to the individual under that agreement, and (d) no amount in respect of tax payable under subsection 165(2), section 212.1 or subsection 218.1(1), 220.05(1), 220.06(1), 220.07(1) or 220.08(1) shall be included in determining an input tax credit of the supplier in respect of (i) the complex, the land included in the complex or an improvement thereto, or (ii) any other property or service to the extent that it was acquired, imported or brought into a participating province by the supplier for consumption or use in making a supply of the complex. Resupply of a single unit residential complex (2) If a supply referred to in paragraph (1)(a) of a residential complex or a building, or part of a building, forming part of a residential complex is made to a recipient who is a builder of the complex only because of paragraph (d) of the definition builder in subsection 123(1), (a) no tax is payable under subsection 165(2) in respect of any supply of the complex made by that builder or any successor in title other than (i) a taxable supply made by way of lease, licence or similar arrangement, or (ii) a taxable supply by way of sale made after either the builder or the successor has used the complex as capital property in a business of the builder or successor, substantially renovated the complex or made another supply by way of sale of the complex and subsequently reacquired it; and (b) no amount in respect of tax payable under subsection 165(2), section 212.1 or subsection 218.1(1), 220.05(1), 220.06(1), 220.07(1) or 220.08(1) shall be included in determining an input tax credit of the builder or successor in respect of any property or service to the extent that it was acquired, imported or brought into a participating province by the builder or successor for consumption or use in making a supply of the complex in respect of which tax under subsection 165(2) is not payable because of paragraph (a). Transfer of residential condominium unit after implementation (3) Where (a) a taxable supply by way of sale of a residential condominium unit is made in a participating province to a person under an agreement in writing between the supplier and the person entered into on or before the announcement date for that province, and (b) ownership of the unit is not transferred to the person under the agreement before the implementation date for that province and possession thereof is transferred to the person under the agreement on or after that implementation date, the following rules apply: (c) no tax is payable under subsection 165(2) in respect of the supply made under that agreement or in respect of any supply of the unit deemed under subsection 191(1) to have been made before possession thereof is transferred to the person under that agreement, and (d) no amount in respect of tax payable under subsection 165(2), section 212.1 or subsection 218.1(1), 220.05(1), 220.06(1), 220.07(1) or 220.08(1) shall be included in determining an input t