- The Tax Court allowed the appeal in part: the company did not have to collect and remit $126,100 HST on the sale of 1059 Briar Hill Avenue.
- However, the company was not entitled to claim $891.59 in input tax credits.
- The case involved a corporation that bought the property intending to renovate and resell it, but the contractor abandoned the project after demolition and before reconstruction.
- The property was sold gutted but unfinished at a loss, and the Minister had reassessed HST based on the purchase price.
- Costs of $300 were awarded to the appellant, and the matter was sent back to the Minister for reconsideration and reassessment.
Source: canlii.org
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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