T-0.1 - Act respecting the Québec sales tax

Section 445 Disposition versions

2001-12-20

445. (Repealed).

1991, c. 67, s. 445; 1997, c. 85, s. 694; 2001, c. 53, s. 375.

1997-12-19

445. Where a financial institution that is a member of a closely related group or of a prescribed group has at any time purchased an account receivable at face value and on a non-recourse basis from another person that was at that time a member of the group, to the extent that it is established that the account receivable has become in whole or in part a bad debt, the institution may, in determining its net tax for its reporting period in which the bad debt is written off in its books of account or for a subsequent reporting period, deduct an amount to the extent that the other person could have so deducted an amount under section 444 if that other person had not sold the account receivable and had written off the bad debt in that other person’s books of account.

1991, c. 67, s. 445; 1997, c. 85, s. 694.

1992-07-01

445. Where a listed financial institution that is a member of a closely related group or of a prescribed group has at any time purchased an account receivable at face value and on a non-recourse basis from another person that was at that time a member of the group, to the extent that it is established that the account receivable has become in whole or in part a bad debt, the institution may, in determining its net tax for its reporting period in which the bad debt is written off in its books of account or for a reporting period that ends within four years after the end of that period, deduct an amount to the extent that the other person could have so deducted an amount under section 444 if the other person had not sold the account receivable and had written off the bad debt in the other person’s books of account.

1991, c. 67, s. 445.