HST Election Sample Clauses
The HST Election clause establishes the parties' agreement regarding the application of the Harmonized Sales Tax (HST) to their transaction. Typically, this clause specifies whether HST is included in the purchase price or will be added on top, and may outline which party is responsible for remitting the tax to the appropriate authorities. By clearly defining the treatment of HST, this clause ensures compliance with tax laws and prevents disputes over tax liability between the parties.
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HST Election. 19 3.5 Proration. . . . . . . . . . . . . . . . . . . . . . 19
HST Election. Section 167 of the ETA. A joint election, in the prescribed form, pursuant to Section 167 of the ETA. All such documentation, except as otherwise provided herein, shall be in form and substance acceptable to both the Seller and the Purchaser, each acting reasonably and in good faith.
HST Election. The Vendor shall elect jointly with the Purchaser pursuant to the Excise Tax Act (Canada) by completing at or prior to the time of closing all prescribed forms and related documents in such manner as is prescribed such that for the purposes of the Excise Tax Act (Canada), no HST is payable in respect of the purchase and sale of the Purchased Assets. The Vendor shall deliver to the Purchaser satisfactory evidence that it has made such filings as are required in connection with such election in its HST return.
HST Election. The Buyer and the Sellers agree to execute jointly in the statutorily prescribed form, and the Buyer will file within the time required by subsection 167(1.1) of the Excise Tax Act (Canada), an election under subsection 167(1) of the Excise Tax Act (Canada) that no HST be payable with respect to the purchase and sale of the Canadian Assets hereunder.
HST Election. At the Closing, Canadian Buyer and Air Guard Canada shall execute jointly an election under Section 167 of the Excise Tax Act (Canada) to have the sale of the Acquired Assets purchased from Air Guard Canada take place on a GST/HST-free basis under Part IX of the Excise Tax Act (Canada). Canadian Buyer shall file the election in the manner and within the time prescribed by the relevant legislation. Notwithstanding anything to the contrary in this Agreement, Buyers shall indemnify and hold Air Guard Canada harmless in respect of any GST, penalties, interest and other amounts which may be assessed against Air Guard Canada as a result of the transactions under this Agreement not being eligible for such election or as a result of Canadian Buyer’s failure to file the election within the prescribed time.