Specialized GST/HST real property

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Course outline
Module I: Basic concepts and overview

This module will review the key terms that are important to our understanding of the application of the GST/HST to real property transactions. In addition, the module will provide an overview of the various organizational structures used in the industry, their registration and reporting obligations and the kinds of transactions and their GST/HST treatment that will be examined in greater detail in the course.

Module II: Residential property – Sales and rentals

This module begins by examining key terms that relate to the GST/HST treatment of residential property, such as “builder” and “residential complex”. We will then review the GST/HST treatment of the kinds of sales and leases of residential property. We will also discuss issues relating to the management of multi-unit residential properties.

Module III: Residential property – Deemed supplies

Special rules in the GST/HST legislation operate to deem a sale of residential property to occur, such as where a builder constructs a multi-unit residential property for long term rental to tenants. These rules are generally referred to as the “self-supply” rules. This module will examine the self supply rules for residential complexes in various circumstances, including valuation issues, exceptions to the rules and changes in use.

Module IV: Residential property - Rebates

This module concludes the day’s focus on residential property by examining the residential rebate rules. These rules provide for the full or partial rebate of GST/HST paid or payable in respect of real property and may involve rebates relating to sales of taxable property by non-registrants, new home sales and new residential rental properties.

Module V: Commercial property – Sales and leases

This module examines GST/HST registration requirements relating to commercial real property, key terms that relate to the GST/HST treatment of taxable real property, such as “consideration” and the special timing of liability and place of supply rules for real property. We will also review the GST/HST treatment of sales and leases of commercial property in various circumstances, lease inducements and the impact of certain elections.

Module VI: Commercial property – Deemed supplies

This module will examine the rules relating to the GST/HST treatment of capital property, including a deemed sale or purchase that results from a change in a registrant’s use of the property. We will also discuss the implications of forfeitures, seizures and repossessions.

Module VII: Supplies of land

In general, supplies of land in Canada are subject to GST/HST unless a particular exemption applies. This module will examine the GST/HST rules relating to sales of land by individuals or personal trusts, sales of farmland and other special circumstances.

Module VIII: Special structures and situations

The use of special organizational structures, such as partnerships, co-ownerships, joint ventures, corporations, bare trusts, real estate investment trusts and pension plans can have important implications on the entities’ GST/HST entitlements and obligations. This module reviews various structures used to acquire, operate and supply real property and their GST/HST implications. The module also examines special situations, including mixed use properties.