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ARTICLE · 06 DECEMBER 2012

The Retail Sales Act Still Has Some Teeth Under HST

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Effective July 1, 2010, Ontario harmonized its retail sales tax (RST) with the federal goods and services tax (GST) to form a harmonized sales tax (HST).

CanadaTax
Diana Yeung
Diana Yeung
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Effective July 1, 2010, Ontario harmonized its retail sales tax (RST) with the federal goods and services tax (GST) to form a harmonized sales tax (HST). However despite harmonization, some rules in Ontario's Retail Sales Tax Act (RSTA) continue to have application today.

Bulk Sales - Agreements on or before March 29, 2011

Section 6 of the RSTA requires each person who disposes of "stock through a sale in bulk to which the Bulk Sales Act, Ontario applies" to obtain a Clearance Certificate from the Ministry of Finance before the disposition, where the sale is pursuant to a written agreement entered into on or before March 29, 2011. In most cases, the sale of all or part of a business will trigger the application of the Bulk Sales Act, Ontario.

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