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T-0.1, r. 2 - Regulation respecting the Québec sales tax
Section 434r8.5
Disposition versions
434R8.5. A registrant is a registrant who may make an election, to take effect on the first day of a reporting period of the registrant, to determine the net tax of the registrant in accordance with sections 434R8.1 to 434R8.14 if
(1) the threshold amount for the fiscal year of the registrant that includes the reporting period does not exceed $1,000,000;
(2) where the fiscal quarter of the registrant that includes the reporting period is not the first fiscal quarter in the fiscal year, the threshold amount for the fiscal quarter does not exceed $1,000,000;
(3) the purchase threshold for the fiscal year does not exceed $4,000,000;
(4) where the registrant is a public service body, it is reasonable to expect at the beginning of the reporting period that the purchase threshold for the registrant’s next fiscal year will not exceed $4,000,000; and
(5) the registrant is not a person referred to in the definition of “listed financial institution” in section 1 of the Act at the beginning of the reporting period.
434R8.5. A registrant is a registrant who may make an election, to take effect on the first day of a reporting period of the registrant, to determine the net tax of the registrant in accordance with sections 434R8.1 to 434R8.14 if
(1) the threshold amount for the fiscal year of the registrant that includes the reporting period does not exceed $500,000;
(2) where the fiscal quarter of the registrant that includes the reporting period is not the first fiscal quarter in the fiscal year, the threshold amount for the fiscal quarter does not exceed $500,000;
(3) the purchase threshold for the fiscal year does not exceed $2,000,000;
(4) where the registrant is a public service body, it is reasonable to expect at the beginning of the reporting period that the purchase threshold for the registrant’s next fiscal year will not exceed $2,000,000; and
(5) the registrant is not a person referred to in the definition of “listed financial institution” in section 1 of the Act at the beginning of the reporting period.
