T-0.1 - Act respecting the Québec sales tax

Section 450.0.2 Disposition versions

2020-09-24

450.0.2. A person may, on a particular day, issue to a pension entity of a pension plan a note (in sections 450.0.3 and 450.0.4 referred to as a “tax adjustment note”) in respect of all or part of a specified resource, specifying an amount determined in accordance with section 450.0.3, if

(1)  the person is deemed under subparagraph 2 of the first paragraph of section 289.5 or 289.5.1 to have collected tax, on or before the particular day, in respect of a taxable supply of the specified resource or part deemed to have been made by the person under subparagraph 1 of that paragraph;

(2)  a supply of the specified resource or part is deemed to have been received by the pension entity under subparagraph a of subparagraph 4 of the first paragraph of section 289.5 or 289.5.1 and tax in respect of that supply is deemed to have been paid by the pension entity under

(a)  except in the case described in subparagraph b, subparagraph b of subparagraph 4 of the first paragraph of section 289.5 or 289.5.1, or

(b)  if the pension entity is a selected listed financial institution on the last day of the fiscal year in which the person acquired the resource, clause A of subparagraph ii of paragraph d of subsection 5 or 5.1 of section 172.1 of the Excise Tax Act (R.S.C. 1985, c. E-15); and

(3)  an amount of tax becomes payable, or is paid without having become payable, on or before the particular day to the person (otherwise than by the operation of sections 289.2 to 289.8.1) in respect of a taxable supply of the specified resource or part

(a)  by the pension entity, if the taxable supply referred to in paragraph 1 is deemed to have been made under subparagraph 1 of the first paragraph of section 289.5, or

(b)  by a master pension entity of the pension plan, if the taxable supply referred to in paragraph 1 is deemed to have been made under subparagraph 1 of the first paragraph of section 289.5.1.

2011, c. 34, s. 155; 2012, c. 28, s. 161; 2020, c. 16, s. 241.

2013-01-01

450.0.2. A person may, on a particular day, issue to a pension entity a note (in sections 450.0.3 and 450.0.4 referred to as a “tax adjustment note”) in respect of all or part of a specified resource, specifying an amount determined in accordance with section 450.0.3, if

(1)  the person is deemed under subparagraph 2 of the first paragraph of section 289.5 to have collected tax, on or before the particular day, in respect of a taxable supply of the specified resource or part deemed to have been made by the person under subparagraph 1 of that paragraph;

(2)  a supply of the specified resource or part is deemed to have been received by the pension entity under subparagraph a of subparagraph 4 of the first paragraph of section 289.5 and tax in respect of that supply is deemed to have been paid by the pension entity under

(a)  except in the case described in subparagraph b, subparagraph b of subparagraph 4 of the first paragraph of section 289.5, or

(b)  if the pension entity is a selected listed financial institution on the last day of the fiscal year in which the person acquired the resource, clause A of subparagraph ii of paragraph d of subsection 5 of section 172.1 of the Excise Tax Act (R.S.C. 1985, c. E-15); and

(3)  an amount of tax becomes payable, or is paid without having become payable, to the person (otherwise than by the operation of sections 289.2 to 289.8) by the pension entity in respect of a taxable supply of the specified resource or part on or before the particular day.

2011, c. 34, s. 155; 2012, c. 28, s. 161.

2011-12-09

450.0.2. A person may, on a particular day, issue to a pension entity a note (in sections 450.0.3 and 450.0.4 referred to as a “tax adjustment note”) in respect of all or part of a specified resource, specifying an amount determined in accordance with section 450.0.3, if

(1)  the person is deemed under subparagraph 2 of the first paragraph of section 289.5 to have collected tax, on or before the particular day, in respect of a taxable supply of the specified resource or part deemed to have been made by the person under subparagraph 1 of that paragraph;

(2)  a supply of the specified resource or part is deemed to have been received by the pension entity under subparagraph a of subparagraph 4 of the first paragraph of section 289.5 and tax in respect of that supply is deemed to have been paid under subparagraph b of that subparagraph 4 by the pension entity; and

(3)  an amount of tax becomes payable, or is paid without having become payable, to the person (otherwise than by the operation of sections 289.2 to 289.8) by the pension entity in respect of a taxable supply of the specified resource or part on or before the particular day.

2011, c. 34, s. 155.