I-3 - Taxation Act

Section 21.35 Disposition versions

2009-05-15

21.35. For the purposes of this Part, except section 58.2 and this section, an amount claimed by a taxpayer as an input tax credit or rebate with respect to the goods and services tax in respect of a property or service is deemed to be assistance from a government in respect of the property or service that is received by the taxpayer

(a)  if the amount was claimed as an input tax credit in a return filed under Part IX of the Excise Tax Act (R.S.C. 1985, c. E-15) for a reporting period under that Act,

i.  at the particular time that is the time that the goods and services tax in respect of the credit was paid or, if it is earlier, the time that it became payable if

(1)  the particular time is in the reporting period, or

(2)  the taxpayer’s threshold amount, determined in accordance with subsection 1 of section 249 of the Excise Tax Act, is greater than $500,000 for the taxpayer’s fiscal period, within the meaning of that Act, that includes the particular time and the taxpayer claimed the input tax credit at least 120 days before the end of the period described in paragraph a or a.0.1 of subsection 2 of section 1010, for the taxation year that includes the particular time,

ii.  at the end of the reporting period, if

(1)  subparagraph i does not apply, and

(2)  the taxpayer’s threshold amount, determined in accordance with subsection 1 of section 249 of the Excise Tax Act, is $500,000 or less for the taxpayer’s fiscal period, within the meaning of that Act, that includes the particular time, and

iii.  in any other case, on the last day of the taxpayer’s first taxation year that begins after the taxation year that includes the particular time and for which the period described in paragraph a or a.0.1 of subsection 2 of section 1010 ends at least 120 days after the time that the input tax credit was claimed; or

(b)  if the amount was claimed as a rebate with respect to the goods and services tax, at the time the amount was received by, or credited to, the taxpayer.

1991, c. 25, s. 5; 2009, c. 5, s. 36.

2006-03-01

21.35. For the purposes of this Part, except section 58.2 and this section, an amount claimed by a taxpayer as an input tax credit or rebate with respect to the goods and services tax in respect of a property or service is deemed to be assistance from a government in respect of the property or service that is received by the taxpayer

(a)  where the amount is claimed as an input tax credit in a return filed under Part IX of the Excise Tax Act (Revised Statutes of Canada, 1985, chapter E-15) for a reporting period under that Act,

i.  at the time the goods and services tax in respect of the input tax credit was paid or became payable, if the tax was paid or became payable in the reporting period, or

ii.  at the end of the reporting period, if no such tax was paid or became payable in respect of the input tax credit in the reporting period; or

(b)  where the amount is claimed as a rebate with respect to the goods and services tax, at the time the amount was received by, or credited to, the taxpayer.

1991, c. 25, s. 5.