Examines terms and concepts relating to the Goods and Services Tax (GST) as it applies to real property. Covers: what is real property?; place of supply; "value of consideration" and real property; time of liability; liability for tax; and input tax credits.

"This section examines terms and concepts that are basic to understanding the operation of the Goods and Services Tax (GST) as it applies to real property. Unless otherwise noted, these terms and concepts apply equally to the application of the Harmonized Sales Tax (HST) in Nova Scotia, New Brunswick and Newfoundland. Several provisions that relate only to the operation of the HST are discussed in Section 19.1.1, Special Rules for Real Property Under the HST"--Page [1].

"The HST applies in much the same manner to real property transactions as the GST. For example, HST (both the federal and the provincial component) can be recovered through input tax credits (ITCs) under the same rules as under the GST. The application of the GST to real property transactions is discussed in the remaining sections of Chapter 19, Special Sectors: Real Property. This section on the HST should be read in conjunction with the GST sections. Revenue Canada administers the HST"--Page [1].

"This section of Chapter 19, Special Sectors: Real Property examines the GST/HST treatment of: cooperative housing corporations, the movement of a building that previously formed part of a residential complex, and timeshares"--Page [1].