This publication outlines the Retail Sales Tax and Harmonized Sales Tax exemption (8% Ontario portion only) and required supporting documents for vehicle transfers between related corporations, and corporations and shareholders.
This is a supplemental schedule to the corporate minimum tax which should be completed by corporations that are associated with a Canadian or foreign corporation, if there is insufficient space on the CT23 Corporations Tax and Annual Return.
This schedule is to be used by an associated group of corporations who elect to allocate the tax effect from the group's taxable capital exemption based on the previous calender year's total assets. Applies to taxation years ending in the 2006 calendar year.
The Fuel, Gas and Tobacco Tax Acts provide that the Minister demand security (usually a letter of credit or surety bond) from designated collectors and most other registrants. A Letter of Credit or Surety Bond must be drawn on an Ontario-based financial institution and contain the terms as presented in the listed forms.
