GST (non fishing)

[mikemcmillan]

I know there are lot's of smart people here so here's my question. Does GST apply when you purchase a buiness? Thanks for the help.

[Dutch]

Generally GST does not apply on the sale/purchase of a business as long as both parties elect for it not to apply.

 

See also:

 

http://www.cra-arc.gc.ca/E/pub/gp/rc4022/r...ml#P2175_208277

 

The rules get quite complex. I recommend a competent tax advisor, preferably a Chartered Accountant, to advise on the specifics of the situation. Unfortunately, it is not a simple yes or no, many variables involved.

[Heybud_e]

1-800-ohcanada further questions Bud

[mikemcmillan]

Thanks for the help guys. Mike