Canada Revenue Agency requires apartment developers to “self assess” for HST/GST on the basis of a deemed disposition at “Fair Market Value” on the “first occupied date”. Sounds simple: but what happens if part of the building comprises commercial space and some of the apartments are destined to be rented short term? To learn more, click on the attachment and view this PDF document using an Acrobat Reader Plug-in (available as a free download from the Adobe Web Site, www.adobe.com).
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