GST and renting Farm Land

[TOM4CWB]

Farmranger,

Since First Nations [Indians] are exempt... farmers
should be as well. Health care... licenses... gov services
are exempt... Insurance... a dozen donuts...

Cheers!

[Hopperbin]

Must listen to Nicolas, ask for the GST number every year. Not sure if you can check to see if it is submitted or not but I had a land lord collect it and not submit it, he actually cancelled his GST number but kept charging cause he could not produce it. Now why its just not exempted some how like on land purchases I don't know. Cause the gov't does not gain out of it, they actually lose in a few cases like this so would be in their best interest to excempt cash rent from gst. Smaller ex farmers probably the worst tax avoiders of them all.

[FarmRanger]

I hear ya Tom, I'm not sure there should ever be any exemptions based on occupation, racial profile, etc. The whole system becomes more bureaucratic and expensive with every rule and exception.

Be careful when you buy or sell land Hopper. Land purchases aren't exempt; you have to fill out paperwork that allows the vendor not to submit it and the vendee not to pay it. Without the paperwork, you might find that the seller owes and the buyer is owed GST. With the government, you won't likely get paid any interest if they owe you, but if you owe the government then interest and/or penalty may be assessed.

[Hopperbin]

Ranger that does not make sense, the vender cannot be owed, it is the Gov't and its refundable, so they don't give a rats ass about land sales.

[FarmRanger]

Doesn't have to make sense Hopper, it’s the government.

From the Gov’t website - http://www.cra-arc.gc.ca/E/pub/gi/gi-002/gi-002-e.pdf
<i>Yes, the GST/HST applies to the sale of your farmland to your neighbour regardless of whether he
chooses to use it in his farming business or for his personal use. However, if you are selling your
farmland as part of an ongoing farming business and not just selling assets, you and your neighbour may
jointly elect to have no GST/HST payable on the sale by submitting form GST44, Election Concerning the
Acquisition of a Business or Part of a Business.</i>

[LEP]

Willie, that's right Mulroney put it in place and Chretien
won an election saying he would abolish it. That never
happened.

Chretien now that was a waste of skin.

[ColevilleH2S]

I kinda agree, but he was a guy who
could pick a Finance minister.