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ARTICLE · 13 MARCH 2017

Listed Personal Property Tax Rules

Gardiner Roberts LLP
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PUP of a taxpayer is broadly defined to include property owned by the taxpayer and used primarily for the personal use and enjoyment of the taxpayer...

CanadaTax
Josh Harnett
Josh Harnett
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Definitions

"Listed Personal Property"

  • "Listed personal property" (LPP) is a subset of "personal‐use property" (PUP)
  • LPP of a taxpayer is the taxpayer's PUP that is all or any portion of, or any interest in or right to any
  • Print, etching, drawing, painting, sculpture, or other similar work of art
  • Jewellery
  • Rare folio, rare manuscript, or rare book
  • Stamp
  • Coin

"Personal‐Use Property"

  • PUP of a taxpayer is broadly defined to include property owned by the taxpayer and used primarily for the personal use and enjoyment of one or more of:
    • the taxpayer
    • a person related to the taxpayer
    • where the taxpayer is a trust, a beneficiary under the trust or any person related to the beneficiary

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