Common use of Reports do not Constitute Taxable Supply Clause in Contracts

Reports do not Constitute Taxable Supply. Alberta Innovates requires the Applicant to submit Reports to ensure accountability and to validate that the Investment was spent as agreed upon. Accordingly, and because Alberta Innovates’ Investment is made for a public purpose and in the public interest, such Reports do not constitute a taxable supply or "consideration" in return for a transfer payment for the purposes of the Excise Tax Act (Canada).