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Exam 4: Invigilated Theory Exam

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Exam 4: Invigilated Theory Exam Questions and Answers

Questions 1

When a farm is sold, there are exemptions to the payment of harmonized sales tax (HST). In which of the following circumstances is a farmer responsible to pay HST to the Canada Revenue Agency (CRA)?

Options:

A.  

The farm is sold to a corporation and the HST is included in the selling price.

B.  

The farm has been used for personal use.

C.  

The farmer uses a smaller portion of the farm for a residence.

D.  

The farmer sells the farm to a relative.