9/20/2023 0 Comments Hobby farm sales![]() ![]() ![]() In addition, any fixtures on the farmland (e.g., a barn or a corral) form part of the farmland. Farmland also includes any portion of vacant land (e.g., a bush area) that may not be used directly in a farming business. "Farmland" generally means land that is regularly used by a person for the purpose of gaining or producing income from a farming business carried on by the person. For additional information on sales of used houses refer to GST/HST Info Sheet, Sales by Individuals of Owner-Occupied Homes and GST/HST Memorandum 19.2.1, Residential Real Property – Sales. Sales of used houses are usually exempt although there are circumstances when they may be taxable. This Info Sheet applies to the sale of the remaining farmland. the portion that includes the house plus the land that is necessary for the use and enjoyment of the house, and.Where a sale of farmland includes a residence or house, the sale is viewed as two separate sales: In this document, "taxable" means subject to the GST/HST and "exempt" means not subject to the GST/HST. Therefore, the information in this information sheet does not apply to land held by a partnership although it may apply to land held by individuals in joint tenancy or tenancy in common. For GST/HST purposes, the term "individual(s)" does not include a partnership consisting of individuals. It provides examples of how the GST/HST applies to common situations involving these sales. This information sheet explains the application of the GST/HST to sales of farmland by individuals. ![]()
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