Taxation Status: Harmonized Sales Tax Sample Clauses

Taxation Status: Harmonized Sales Tax. The NOHFC is responsible for paying the Harmonized Sales Tax ("HST") on its purchases of taxable property and services as of July 1, 2010, pursuant to the Canada-Ontario Comprehensive Integrated Tax Coordination Agreement and receives a rebate for HST paid.
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Taxation Status: Harmonized Sales Tax. (HST) The OEB is responsible for complying with its obligations as a supplier under the federal Excise Tax Act to collect and remit HST in respect of any taxable supplies made by it. Pursuant to the Canada-Ontario Reciprocal Taxation Agreement (RTA), the OEB is responsible for paying HST where applicable, in accordance with the federal Excise Tax Act. The OEB is not entitled to claim HST government rebates provided under the RTA. The OEB is expected to claim any refunds, input tax credits or other rebates under the federal Excise Tax Act for which it is eligible. 16 ADMINISTRATIVE ARRANGEMENTS‌
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Taxation Status: Harmonized Sales Tax. The OFA is responsible for complying with its obligations as a supplier under the federal Excise Tax Act, R.S.C., 1985, c. E-15 (the “ETA”), and to collect and remit Harmonized Sales Tax (“HST”) in respect of any taxable supplies made by it. Under the Canada-Ontario Reciprocal Taxation Agreement, the OFA is entitled to claim HST government rebates in respect of any HST paid by the OFA to suppliers, subject to any restrictions specified by Finance Canada. The OFA recovers HST paid to suppliers through a centrally administered account maintained by the Office of the Provincial Controller Division. The OFA will not claim an HST government rebate in respect of tax for which it has claimed a refund, input tax credit or other rebate under the ETA. The OFA is responsible for providing the Ministry or the Canada Revenue Agency, upon request, with any information necessary to determine the amount of an HST government rebate.
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Taxation Status: Harmonized Sales Tax. The Agency shall follow Canada Revenue Agency policies in relation to changes in tax treatment or procedures for the Agency.
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Taxation Status: Harmonized Sales Tax. With the harmonization of the Goods and Services Tax and the Provincial Sales Tax, the Agency is entitled to receive a Canada Value Added Tax rebate under the Comprehensive Integrated Tax Coordination Agreement.
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Related to Taxation Status: Harmonized Sales Tax

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  • How Are Distributions from a Xxxx XXX Taxed for Federal Income Tax Purposes Amounts distributed to you are generally excludable from your gross income if they (i) are paid after you attain age 59½, (ii) are made to your beneficiary after your death, (iii) are attributable to your becoming disabled, (iv) subject to various limits, the distribution is used to purchase a first home or, in limited cases, a second or subsequent home for you, your spouse, or you or your spouse’s grandchild or ancestor, or (v) are rolled over to another Xxxx XXX. Regardless of the foregoing, if you or your beneficiary receives a distribution within the five-taxable-year period starting with the beginning of the year to which your initial contribution to your Xxxx XXX applies, the earnings on your account are includable in taxable income. In addition, if you roll over (convert) funds to your Xxxx XXX from another individual retirement plan (such as a Traditional IRA or another Xxxx XXX into which amounts were rolled from a Traditional IRA), the portion of a distribution attributable to rolled-over amounts which exceeds the amounts taxed in connection with the conversion to a Xxxx XXX is includable in income (and subject to penalty tax) if it is distributed prior to the end of the five-tax-year period beginning with the start of the tax year during which the rollover occurred. An amount taxed in connection with a rollover is subject to a 10% penalty tax if it is distributed before the end of the five-tax-year period. As noted above, the five-year holding period requirement is measured from the beginning of the five-taxable-year period beginning with the first taxable year for which you (or your spouse) made a contribution to a Xxxx XXX on your behalf. Previously, the law required that a separate five-year holding period apply to regular Xxxx XXX contributions and to amounts contributed to a Xxxx XXX as a result of the rollover or conversion of a Traditional IRA. Even though the holding period requirement has been simplified, it may still be advisable to keep regular Xxxx XXX contributions and rollover/ conversion Xxxx XXX contributions in separate accounts. This is because amounts withdrawn from a rollover/conversion Xxxx XXX within five years of the rollover/conversion may be subject to a 10% penalty tax. As noted above, a distribution from a Xxxx XXX that complies with all of the distribution and holding period requirements is excludable from your gross income. If you receive a distribution from a Xxxx XXX that does not comply with these rules, the part of the distribution that constitutes a return of your contributions will not be included in your taxable income, and the portion that represents earnings will be includable in your income. For this purpose, certain ordering rules apply. Amounts distributed to you are treated as coming first from your non-deductible contributions. The next portion of a distribution is treated as coming from amounts which have been rolled over (converted) from any non-Xxxx IRAs in the order such amounts were rolled over. Any remaining amounts (including all earnings) are distributed last. Any portion of your distribution which does not meet the criteria for exclusion from gross income may also be subject to a 10% penalty tax. Note that to the extent a distribution would be taxable to you, neither you nor anyone else can qualify for capital gains treatment for amounts distributed from your account. Similarly, you are not entitled to the special five- or ten- year averaging rule for lump-sum distributions that may be available to persons receiving distributions from certain other types of retirement plans. Rather, the taxable portion of any distribution is taxed to you as ordinary income. Your Xxxx XXX is not subject to taxes on excess distributions or on excess amounts remaining in your account as of your date of death. You must indicate on your distribution request whether federal income taxes should be withheld on a distribution from a Xxxx XXX. If you do not make a withholding election, we will not withhold federal or state income tax. Note that, for federal tax purposes (for example, for purposes of applying the ordering rules described above), Xxxx IRAs are considered separately from Traditional IRAs.

  • National Treatment on Internal Taxation and Regulation Each Party shall accord national treatment to the goods of the other Parties in accordance with Article III of GATT 1994. To this end, Article III of GATT 1994 shall be incorporated into and shall form part of this Agreement, mutatis mutandis.

  • Income Tax Gross Up To the extent that any payments made by the Company to the Executive pursuant Sections 3(b)(ii)-(iv) or 3(f) of the Agreement are included in the Executive’s taxable compensation and are not otherwise deductible by the Executive under the Code, the Company shall pay the Executive a lump sum amount which shall, after payment of all applicable income taxes thereon, be sufficient to reimburse the Executive for any applicable income taxes imposed on such taxable compensation.

  • How Are Contributions to a Xxxx XXX Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)

  • Goods and Services Tax (GST (a) For the purposes of clause 9:

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