T-0.1 - Act respecting the Québec sales tax

Section 42.0.23 Disposition versions

2015-12-04

42.0.23. Despite sections 42.0.15 to 42.0.17, if under subsection 32 of section 141.02 of the Excise Tax Act (R.S.C. 1985, c. E-15) the Minister of National Revenue directed a financial institution to use another method to determine, for a particular fiscal year or any subsequent fiscal year, the operative extent and the procurative extent of a business input, the other method must also be used by the financial institution in respect of that business input for such a fiscal year.

2012, c. 28, s. 46; 2015, c. 36, s. 202.

2012-12-07

42.0.23. If a financial institution is required to use a method in accordance with any of sections 42.0.15 to 42.0.17 in respect of any of its fiscal years, the Minister may, despite that section, at any time, by notice in writing, direct the financial institution to use another method to determine, for the fiscal year or any subsequent fiscal year, the operative extent and the procurative extent of each business input referred to in that section, provided that the other method is fair and reasonable.

If under subsection 32 of section 141.02 of the Excise Tax Act (R.S.C. 1985, c. E-15) the Minister of National Revenue directed a financial institution to use another method to determine, for a fiscal year, the operative extent and the procurative extent of a business input, the other method must also be used by the financial institution in respect of that business input for the fiscal year, despite sections 42.0.15 to 42.0.17, unless the Minister decides otherwise.

2012, c. 28, s. 46.