T-0.1, r. 2 - Regulation respecting the Québec sales tax

Section 505.1r2 Disposition versions

2012-09-01

505.1R2. For the purposes of the third paragraph of section 505.1 of the Act:

(1)  the prescribed terms and conditions of use are, for any person who wishes to use the prescribed manner in the fiscal year of the person, to inform the Minister of such election in prescribed form at the time of the initial application for a rebate filed in that fiscal year. The person shall also indicate therein the period covered by the fiscal year and use that manner throughout that fiscal year;

(2)  the prescribed manner is to determine the amount of the rebate by the formula

A/B x C.

For the purposes of that formula,

(a)  A is the amount of the debt written off;

(b)  B is the aggregate of the sales that are the amount of the debt to which the amount of the debt written off relates, including the amount provided for in section 497 of the Act, the tax payable under Part IX of the Excise Tax Act (R.S.C. 1985, c. E-15) and the tax payable under Title I of the Act;

(c)  C is the amount provided for in section 497 of the Act, included in the aggregate of the sales that are the amount of the debt to which the amount of the debt written off relates.

O.C. 1470-2002, s. 16.