T-0.1 - Act respecting the Québec sales tax

Section 458.0.5 Disposition versions

2011-04-01

458.0.5. Despite section 458.0.4, the total interest payable by a person under that section for the period beginning on the first day of a reporting period for which an instalment on account of tax is payable and ending on the day on which the tax on account of which the instalment was payable is required to be remitted must not exceed the amount, if any, by which the amount of interest that would be payable under section 458.0.4 for the period by the person if no amount were paid by the person on account of instalments payable in the period exceeds the total of all amounts each of which is an amount of interest at the rate prescribed under section 28 of the Tax Administration Act (chapter A-6.002), computed on an instalment of tax paid for the period beginning on the day of that payment and ending on the day on which the tax on account of which the instalment was payable is required to be remitted.

1995, c. 63, s. 463; 2009, c. 5, s. 671; 2010, c. 31, s. 175.

2009-05-15

458.0.5. Despite section 458.0.4, the total interest payable by a person under that section for the period beginning on the first day of a reporting period for which an instalment on account of tax is payable and ending on the day on which the tax on account of which the instalment was payable is required to be remitted must not exceed the amount, if any, by which the amount of interest that would be payable under section 458.0.4 for the period by the person if no amount were paid by the person on account of instalments payable in the period exceeds the total of all amounts each of which is an amount of interest at the rate prescribed under section 28 of the Act respecting the Ministère du Revenu (chapter M-31), computed on an instalment of tax paid for the period beginning on the day of that payment and ending on the day on which the tax on account of which the instalment was payable is required to be remitted.

1995, c. 63, s. 463; 2009, c. 5, s. 671.

1995-12-15

458.0.5. Notwithstanding section 458.0.4, the interest and penalty payable by a person under that section shall not exceed the amount by which the total of the interest and penalty that would be payable by the person if no amount were paid by the person on account of instalments payable in the period exceeds the amount obtained by calculating on each instalment paid, interest plus 6% per year compounded daily where the penalty under section 458.0.4 has been applied, until the day on or before which the tax on account of which the instalment was payable is required to be remitted.

1995, c. 63, s. 463.