T-0.1 - Act respecting the Québec sales tax

Section 301.8 Disposition versions

2013-06-05

301.8. The input tax refund of a surety in respect of direct inputs is the lesser of

(1)  the amount determined in accordance with Chapter V, but for this section, in respect of those inputs; and

(2)  either of the following amounts:

(a)  where the amount obtained by the following formula exceeds the total of all amounts, each of which would be an input tax refund of the surety in respect of a direct input but for the fact that tax is not payable by the surety in respect of the acquisition or bringing into Québec of the direct input because of section 75 or Division III.0.0.1 or because of the fact that the surety is deemed to have acquired it, or brought it into Québec, for consumption, use or supply exclusively in the course of commercial activities of the surety, that excess amount:

A × B, and

(b)  in any other case, zero.

For the purposes of the formula in subparagraph a of subparagraph 2 of the first paragraph,

(1)  A is the tax rate specified in the first paragraph of section 16; and

(2)  B is the total of all contract payments (other than contract payments that are not in respect of the carrying on of the particular construction).

2012, c. 28, s. 99; 2013, c. 10, s. 223.

2012-12-07

301.8. The input tax refund of a surety in respect of direct inputs is the lesser of

(1)  the amount determined in accordance with Chapter V, but for this section, in respect of those inputs; and

(2)  either of the following amounts:

(a)  where the amount obtained by the following formula exceeds the total of all amounts, each of which would be an input tax refund of the surety in respect of a direct input but for the fact that tax is not payable by the surety in respect of the acquisition or bringing into Québec of the direct input because of section 75 and Division III.0.0.1 or because of the fact that the surety is deemed to have acquired it, or brought it into Québec, for consumption, use or supply exclusively in the course of commercial activities of the surety, that excess amount:

A × B, and

(b)  in any other case, zero.

For the purposes of the formula in subparagraph a of subparagraph 2 of the first paragraph,

(1)  A is the tax rate specified in the first paragraph of section 16; and

(2)  B is the total of all contract payments (other than contract payments that are not in respect of the carrying on of the particular construction).

2012, c. 28, s. 99.