EVENT DESCRIPTION

This is an online session. The material is available 24 hours a day, 7 days a week. Once registered, you can access the material at any time. However, you will only have access to the course for thirty days after REGISTRATION.

Dealing with corporate reorganizations can be a very daunting task. Usually, the focus is on income tax issues until someone says, “Are there any GST or HST issues?”

It is very common for sales tax considerations to be forgotten until they arise because of an audit or someone asks the question. This course is going to focus on the GST and HST issues related to reorganizations with a detailed review of the amalgamation and wind-up rules.

Corporations are sometimes surprised to learn how the rules can differ depending on the type of reorganization. Understanding the application of GST/HST can be challenging but the result is minimal sales tax exposure.

TOPICS INCLUDE

Introduction

  • GST/HST overview

Corporate organizational issues

  • Definitions
  • Different types of reorganizations

Amalgamations

  • Introduction
  • Section 271 conditions
  • How does section 271 work
  • Other issues:
    • Bad debts
    • Small supplier
    • Section 150 election
    • Recover of tax - input tax credits and rebates
    • Change in use rules
    • Hospitals and financial institutions

Wind-up of a wholly owned subsidiary

  • Introduction
  • Section 272 conditions
  • How does section 272 work
  • Other issues:
    • Clearance certificate
    • Bad debts

Conclusion

WHO WILL BENEFIT:

Anyone who understands the basic application and recovery of the GST/HST rules and wants to enhance their knowledge in respect of corporate amalgamations and wind-ups.