Financial Service

Cases

Global Cash Access (Canada) Inc. v. Canada, 2013 FCA 269

The appellant ("Global") enabled casino patrons to use their credit cards to purchase payment instruments similar to cheques (the "cheques") from...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Consideration "consideration" under law of contract 123
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply three elements integrally connected 240
Tax Topics - Excise Tax Act - Section 153 - Subsection 153(1) "consideration" under law of contract 123

Canada v. Costco Wholesale Canada Ltd., 2012 FCA 160

The appellant ("Costco") entered into a conventional "Merchant Agreement" with the Amex Bank of Canada ("Amex") pursuant to which it agreed to pay...

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Words and Phrases
consideration
Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 153 - Subsection 153(1) payments by credit card company to store were not merely discounts to its fees 184

Animal Rescue Missions of Canada Inc. v. Canada (Customs and Revenue Agency), [2009] G.S.T.C. 65, 2008 FCA 115

iscretionary investment management services provided by investment managers to a not-for-profit corporation that provided professional liability...

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Words and Phrases
arrange for

See Also

FP Newspapers Inc. v. The Queen, 2013 TCC 44 (Informal Procedure)

The registrant, which was the corporate successor to an income fund, acquired, as essentially its only asset, a 49% limited partnership interest...

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Mac's Convenience Stores Inc. v. The Queen, 2012 TCC 393

The registrant agreed with a bank (CIBC) that automatic banking services would be provided through ABM machines in the registrant's stores. ...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 185 - Subsection 185(1) impulse purchases generated by ABM machine customers represented sufficient link 154

Global Cash Access (Canada) Inc. v. The Queen, 2012 TCC 173, 2010 TCC 493, rev'd in part 2013 FCA 269

The appellant ("Global") enabled casino patrons to use their credit cards to receive cash advances or, more precisely, to purchase cheques from...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 138 taxable element insufficiently minor 262

President's Choice Bank v. The Queen, 2009 TCC 170

The registrant ("PC Bank"), a subsidiary of Loblaws, had agreed with a bank (CIBC) for CIBC to provide retail banking services under Loblaws'...

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Aim Funds Management Inc. v. Aim Trimark Corporate Class Inc., [2009] O.J. No. 4798, [2009] GSTC 170, 64 DLR (4th) 261, 2009 CanLII 29491 (Ont. Sup. Ct. J.)

The Minister assessed the applicant, a mutual fund manager, on the basis that a payment to it by mutual funds of deferred sale charges received by...

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Locations of other summaries Wordcount
Tax Topics - General Concepts - Rectification & Rescission 155

The Canadian Medical Protective Association v. The Queen, 2008 TCC 33, [2008] GSTC 88, aff'd supra

Before noting at para. 54, that it was conceded by the Crown that the appellant's principal activity was not the investing of funds (its principal...

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General Motors of Canada Limited v. The Queen, [2008] GSTC 41, 2008 TCC 117, aff'd [2009] GSTC 64, 2009 FCA 114

The Appellant (a car manufacturer) was the administrator of various defined benefit pension plans for its employees. It directed the trustee of...

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Royal Bank of Canada v. The Queen, [2007] GSTC 122, 2007 TCC 281

The registrant had an arrangement with Canadian Airlines International Ltd. ("CAIL") under which the registrant's credit card customers would...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply taxable supply of frequent flyer points 207
Tax Topics - Excise Tax Act - Section 181 - Subsection 181(1) - Coupon frequent flyer points could be coupons 114
Tax Topics - Excise Tax Act - Section 181.2 frequent flyer points not gift certificates 121
Tax Topics - Excise Tax Act - Section 278 - Subsection 278(1) s. 278(2) precluded direct collection on assessment of recipient until supplier released from remittance obligation 267
Tax Topics - Excise Tax Act - Section 296 - Subsection 296(1) - Paragraph 296(1)(b) no double taxation in s. 296(1)(b) assessment of purchaser because supplier had been released from its remittance obligation under CCAA plan 262

Canada Trustco Mortgage Company v. The Queen, 2004 TCC 792

The appellant ("CTM") sold mortgage loans made by it to arm's length securitization trusts and serviced the sold mortgages including collecting...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply sale of mortgages on fully-serviced basis 139
Tax Topics - Excise Tax Act - Section 138 sale of mortgages on fully-serviced basis with deferred purchase price labelling 243

State Farm Mutual Auto Insurance Co. v. The Queen, [2003] GSTC 35 (TCC)

After finding that the U.S. head office of the appellant (an auto insurer) did not render or supply services to the Canadian regional office,...

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The Colleges of Applied Arts and Technology Pension Plan v. The Queen, 2003 GTC 899-62, 2003 TCC 618

After noting that "the measure of the 'principal activity' must be the importance of the activity to the achievement of the organization's goals...

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Ingle Manor Farms Inc. v. The Queen, docket 2001-862-GST-I (TCC) (Informal Procedure)

A fee received by the taxpayer for agreeing not to bid for the assets of an insolvent corporation did not represent consideration for a financial...

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Drug Trading Company Ltd. v. The Queen, [2001] GSTC 48 (TCC) (Informal Procedure)

The registrant was a wholesaler of products to independent retail pharmacies operating under the "I.D.A." name, and also provided franchisor-like...

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Skylink Voyages Inc. v. The Queen, [1999] GSTC 119 (TCC)

The registrant served retail travel agencies by booking and purchasing airline tickets for the agencies' customers, which resulted in the receipt...

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C.I. Mutual Funds Inc. v. Canada, [1997] GSTC 84 (TCC), aff'd [1999] GSTC 12 (FCA)

The managment fees received by mutual fund managers, which also were the trustees of the mutual fund trusts which they managed, were taxable even...

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On-Guard Self-Storage Ltd. v. The Queen, [1996] GSTC 9 (TCC)

The taxpayer provided storage lockers pursuant to rental contracts that provided for a monthly rental fee with a "prompt payment discount" for...

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Locator of Missing Heirs Inc. v. The Queen, [1995] GSTC 63 (TCC)

The appellant who carried on a business of finding missing heirs to property in estates of deceased persons was found not to be doing any of the...

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Commissioner of Inland Revenue v. Databank Systems Ltd., [1990] BTC 5108 (PC)

The respondent provided five clearing banks with computer-related services which essentially replaced many of the clerical operations of the banks...

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Customs and Excise Commissioners v. Diners Club Ltd., [1989] BTC 5084, [1989] 2 All E.R. 385 (C.A.)

The taxpayer argued that the credit card charges owing to it by cardholders arose as a result of an assignment of debts or other rights to it by...

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Administrative Policy

CBAO National Commodity Tax, Customs and Trade Section – 2014 GST/HST Questions for Revenue Canada, Q. 14

Corporation A, which provides management services to a partnership whose principal business is the investing of funds, also charges the...

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4 February 2014 Interpretation 106288

The non-resident Service Provider agreed to provide advice and assistance in finding a purchaser for the Company's financial services operation,...

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CBAO National Commodity Tax, Customs and Trade Section – 2013 GST/HST Questions for Revenue Canada, Q. 9 ("Financial Services and Exclusion in Paragraph (q)")

Where a mutual fund salesperson provides its services to an investment plan rather than to the dealer, does para. (q) apply? CRA stated:

[U]nlike...

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20 July 2012 Ruling Case No.137528 [taxable rebate fees from credit card issuer received by retailer]

The Company is offering a credit card program to its customers as part of its overall services and a bank issues co-branded credit cards to the...

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29 June 2012 Interpretation Case No. 104941

After indicating that commissions paid by a mutual fund manager to a representative who sold mutual funds likely would qualify as being exempt as...

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5 June 2012 Interpretation Case No. 127795

An independent sales organization (ISO) enters into agreements with merchants under which the merchants acquire point-of-sale terminals of a...

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5 June 2012 Interpretation Case No. 81635

An "Investor" purchases point-of-sale terminals from the Supplier, who also supplies systems and services to connect the terminals , which will be...

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4 June 2012 Interpretation Case No. 131194

The fees earned by a loan broker from car dealers

would generally be considered predominantly administration services of obtaining credit...

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17 May 2012 Interpretation File 97556

The Supplier, which purchases point-of-sale terminals from CanCo and sells them to merchants, also markets processing services to the merchants,...

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17 May 2012 Ruling 62492

An "Acquirer" is a connection service provider (i.e., it provides connection to the Interac network for the purpose of processing Interac direct...

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15 March 2012 Ruling Case No. 132880-2 [trailer fees exempt if no servicing]

Dealers, who arrange for the initial sale of shares in an Investment Fund which is managed by an Investment Manager, receive a service fee (the...

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9 January 2012 Ruling Case Number 112274 [taxable processing of credit applications]

Prior to a sale of equipment by the vendor to a customer, Company A "as part of its wide range of financing services" processes the customer's...

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31 October 2011 Interpretation Case No. 132880

This is the previously interpretation respecting the fee arrangement dealt with in 132880-2, two Rulings above. CRA stated:

The Dealer's Fee paid...

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5 January 2012 Ruling Case No. 98811 [broker charge for securing health plan employer]

A commission charged by a broker to the administrator of a private health services plan in consideration for bringing the administrator and...

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10 November 2011 Case No. 125071

Given that mortgage brokers often receive a higher rate of commission from a particular lender if they generate higher volumes of loans, many...

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19 May 2011 Interpretation Case No. 131970

X Co. provide lenders (through two internet portals) with an electronic loan application system for the processing and approval of credit...

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6 September 2011 Ruling Case No. 77006 [on-line administration of credit card portfolio]

A non-resident company (Service Provider) provides services to FinanceCo consisting of on-going processing services respecting FinanceCo's credit...

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29 July 2011 Headquarters Letter 95868

A credit card loyalty program is proposed in which participating organizations (Organizations C) assist in the marketing of credit cards of a...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 153 - Subsection 153(1) card loyalty program credits 112

29 July 2011 Headquarters Letter Case No. 82567

Pursuant to related agreements between ABC Corporation, Lenders, the Vendors or products, Dealers for the Vendors and the Customers of the...

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19 July 2011 Headquarters Letter 127619

The registrant enters into marketing agreements with various merchants to promote their businesses by selling vouchers on its website on their...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 181.2 272

19 July 2011 Headquarters Letter Case No. 111922

Corporation X administers insurance policies for large health plan providers (Providers) and independent employers (Employers) including employee...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Regulations - Financial Services (GST/HST) Regulations - Subsection 4(2) insurance policy administration 77

19 July 2011 Headquarters Letter Case No. 125864

In connection with a credit card program launched by a bank, it agrees with an insurer that it will use commercially reasonable efforts to arrange...

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14 July 2011 Headquarters Letter Case No. 132388

A mortgage broker presents the programs of different mortgage lenders to prospective borrowers, selects programs that meet the borrower's needs...

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15 June 2011 Headquarters Letter Case No. 108590

Corporation A agrees to promote a credit card to be issued by a bank by soliciting prospects to open up accounts with the bank pursuant to a...

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27 May 2011 Headquarters Letter Case No. 129882

A mortgage broker qualifies borrowers (including assessing the impact of their credit reports), obtains commitments from mortgage lenders and...

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17 May 2011 Headquarters Letter Case No. 129875

an insurer has an arrangement with a managing general agent ("MGA") to promote and effect sales of its insurance policies, and the MGA has an...

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B-105 February 2011 "Changes to the Definition of Financial Service"

Examples include:

  • Example 4 (fees paid by a mutual fund manager to mutual fund salespersons for the sale of mutual fund units are exempt...

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GST/HST Notice 250, "Proposed Changes to the Definition of Financial Service", June 2010.

26 July 2007 Ruling 63048 ["fees" of vendor for servicing of sold mortgages part of consideration for single exempt supply]

Seller and Investor. The Seller (a registrant which is resident in Canada) sells mortgages (the "Mortgage Loans"), which have already been fully...

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December 2006 GST/HST Info Sheet "ABM Services"

Includes various examples, including:

Example 4

where an ISO (a person who markets ABM services) contracts with a merchant to be the card acceptor...

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5 April 2004 Ruling Case No. 50019

The quarterly fees received in arrears (based on the market value of the investment portfolio) by an investment manager with full discretion as to...

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17 December 2003 Ruling Case No. 45758

As the role of Agent B was to provide administrative services to Agent A to enable Agent A to fulfill its responsibilities for arranging for the...

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17 December 2003 Ruling Case No. 40640

A corporation was characterized as providing a technology platform, which permitted the electronic collection of mortgage loan application and...

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2 December 2003 Memorandum Case No. 41678

The exclusion in paragraph (q) applied to the sale of mortgages on a fully-serviced basis to a trust, based on a review of its activities set in...

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19 November 2002 Interpretation RITS 42355

An independent third party that, for a commission, engaged in the collection of overdue loans and accounts receivable due to a bank was not...

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P-239 "Meaning of the Term 'Arranging For' as Provided in the Definition of 'Financial Service'" 30 January 2002. 31 March 2000 HQ Letter 25522

A commitment fee payable in connection with a merger transaction entailing share and note consideration represented consideration for a financial...

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Draft Policy Statement on the Meaning of the Term 'Arranging for', 18 January 2000, No. 11595-2

"The intermediary should be fully and directly involved in the process of the provision of the financial service by the supplier and will...

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21 December 1999 Headquarters Letter 8177/HQR0001783

Fees paid were characterized as being primarily consideration for marketing and promotional services notwithstanding that there were incidental...

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21 December 1999 Ruling File 11595-2 No. HQR0001783/8177

A service of securing additional merchants to accept the credit card services provided by a financial institution was characterized as relating...

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27 October 1999 HQ Letter HQR0001895

Where a supplier had agreed to actively solicit for and negotiate with potential buyers of the assets of a company or its shares, and a share sale...

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25 August 1998 Ruling RITS HQR0001269 [trailer fees]

Trailer fees were exempt.

3 September 1997 Ruling HQR0000579

"Revenue Canada takes the position that the service of 'arranging for' the supply of a financial service ... generally refers to the activities...

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P-210 "Performance Bond Claims" dated 7 February 1997. P-192 "Supply of Precious Metals" P-119 "Trailer Commission Servicing Fees"

Trailer commissions paid by fund managers to investment dealers are exempt under paragraph (l) of the definition.

GST M 300-4-7 "Financial Services" GST M 700-2 "Definition of 'Financial Instrument'" B-032 "Registered Pension Plans and Registered Retirement Savings Plans"

B-033 "GST Treatment of Products and Services of a Deposit-Taking Financial Institution"

Articles

Sabrina Wong, Sania Ilahi, "Tax Implications of Asset Securitizations", 2015 CTF Annual Conference Report

Quiescence of CRA post-Canada Trustco (p. 17)

No significant assessments have come to light in connection with the treatment of the servicing...

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Paragraph (a)

See Also

Wiltonpark Ltd & Ors v Revenue & Customs Commissioners, [2016] EWCA Civ 1294

The self-employed lap dancers at the appellants’ clubs often would accept vouchers from customers, who had run out of cash, in exchange for...

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HMRC v National Exhibition Centre Ltd., [2016] BVC 19, Case C-130/15 (ECJ (8th Chamber))

NEC sold tickets on behalf of third parties to various trade, sporting and concert events held by them at the National Exhibition Centre. Where...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply additional “booking” charges by a service provider to those paying by credit card were not consideration for a separate supply 330

Paragraph (d)

Administrative Policy

17 December 2015 Interpretation 153009

A corporation, which is not engaged exclusively in commercial activities, issues shares and pays dividends to its shareholders, who are both...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Schedules - Schedule VI - Part IX - 1 potential zero-rating re share issuances and dividends 86
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply required shareholder communications not a supply 169
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (f) dividend a financial supply to recipient 81

Paragraph (f)

See Also

Stock ‘94 Szolgáltató Zrt. v Regional Customs and Finance Directorate-General for Southern Transdanubia of the National Tax and Customs Office, Hungary, Case C-208/15, [2016] BVC 45 (European Court of Justice (5th Chamber))

Stock ‘94 was a company which acted as an “integrator,” i.e., it assisted Hungarian farmers (“integrated producers”) by making a loan to...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply interest on loan to fund taxable supply was part of taxable consideration 141

Administrative Policy

17 December 2015 Interpretation 153009

A corporation, which is not engaged exclusively in commercial activities, issues shares and pays dividends to its shareholders, who are both...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Schedules - Schedule VI - Part IX - 1 potential zero-rating re share issuances and dividends 86
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply required shareholder communications not a supply 169
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (d) share issuance a financial supply to shareholder 164

Paragraph (f.1)

Cases

Great-West Life Assurance Company v. Canada, 2016 FCA 316

A third party (Emergis) provided automated claims processing services to Great-West Life, which administered or insured various client drug plans,...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Regulations - Financial Services (GST/HST) Regulations - Subsection 4(2) predominant character of insurance claim processing was administrative 250
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Supply characterization of single supply based on predominant elements 203

See Also

Great-West Life Assurance Company v. The Queen, 2015 TCC 225

The appellant ("Great-West") provided prescription drug plans to the employees of various employers. The claims were processed by a third party...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Regulations - Financial Services (GST/HST) Regulations - Subsection 4(2) electronic drug plan adjudication and processing was "quintessentially administrative in nature" 279
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (r.4) services described in (r.4) did not represent the essential character of drug claim processing service 269
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (r.5) essential character of drug claim processing service was providing payment to the claimant 186
Tax Topics - General Concepts - Payment & Receipt constructive receipt by relieving obligation to pay pharmacist 236

Paragraph (g)

Administrative Policy

29 January 2015 Ruling 93176 [commitment fee paid to loan assignor exempt]

159222 is similar

In a Term Sheet, the lender, ACo, agrees to make a secured loan to the borrower, BCo. The Term Sheet provide for the payment by...

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Paragraph (l)

Administrative Policy

Excise and GST/HST News, No. 100, November 2016

General taxability of franchise fee paid by mortgage broker franchisee

... When a mortgage broker provides an “arranging for” service under...

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Paragraph (r.4)

See Also

Rojas v. The Queen, 2016 TCC 177 (Informal Procedure)

The appellant, who was a licensed mortgage broker, acted as an agent for a mortgage brokerage firm in obtaining mortgages for its customers, with...

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Great-West Life Assurance Company v. The Queen, 2015 TCC 225

A third party (Emergis) provided automated claims processing services to the appellant (Great-West Life), which administered or insured various...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Regulations - Financial Services (GST/HST) Regulations - Subsection 4(2) electronic drug plan adjudication and processing was "quintessentially administrative in nature" 279
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (f.1) essential character of drug claim processing service was providing payment to the claimant 306
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (r.5) essential character of drug claim processing service was providing payment to the claimant 186
Tax Topics - General Concepts - Payment & Receipt constructive receipt by relieving obligation to pay pharmacist 236

Paragraph (r.5)

See Also

Great-West Life Assurance Company v. The Queen, 2015 TCC 225

A third party (Emergis) provided automated claims processing services to the appellant (Great-West Life), which administered or insured various...

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Locations of other summaries Wordcount
Tax Topics - Excise Tax Act - Regulations - Financial Services (GST/HST) Regulations - Subsection 4(2) electronic drug plan adjudication and processing was "quintessentially administrative in nature" 279
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (f.1) essential character of drug claim processing service was providing payment to the claimant 306
Tax Topics - Excise Tax Act - Section 123 - Subsection 123(1) - Financial Service - Paragraph (r.4) services described in (r.4) did not represent the essential character of drug claim processing service 269
Tax Topics - General Concepts - Payment & Receipt constructive receipt by relieving obligation to pay pharmacist 236

Paragraph (t)

Administrative Policy

Excise and GST/HST News, No. 100, November 2016

Claims administration for insurer

... Generally, a claims administration service provided to an insurer is a taxable supply.

For example, ......

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