keep Regulations Prescribing Purposes for Which New Successor Corporations Shall Be Deemed to Be the Same Corporations as and Continuations of Predecessor Amalgamated or Wound-Up Corporations
A technical regulation that defines 'prescribed purpose' for GST/HST purposes in the context of corporate amalgamations and windings-up, referencing numerous sections of the Excise Tax Act that the regulation applies to.
Provides necessary legal clarity for GST/HST treatment during corporate reorganizations; deleting would create uncertainty and disputes in routine business amalgamations and windings-up, increasing compliance costs without any benefit.