I-1 - Retail Sales Tax Act

Section 7.2 Disposition versions

1994-06-17

7.2. For the purposes of section 6 or 7, where the vendor of a movable property accepts a coupon in full or partial consideration for the sale of the property, the purchase price of the property so sold shall be reduced by an amount equal to the value of the coupon accepted as full or partial consideration, if that value reduces the value of the consideration on which the tax provided for in subsection 1 of section 165 of the Excise Tax Act (Revised Statutes of Canada, 1985, chapter E-15) in respect of the sale is calculated.

The coupon referred to in the first paragraph is a coupon that may be exchanged for movable property or that may entitle the purchaser of such property to a discount, and in respect of which section 7.1.1 does not apply.

1990, c. 60, s. 7; 1994, c. 22, s. 32.

1991-01-01

7.2. For the purposes of section 6 or 7, where the vendor of a movable property accepts a coupon in full or partial consideration for the sale of the property, the purchase price of the property so sold shall be reduced by an amount equal to the value of the coupon accepted as full or partial consideration, if that value reduces the value of the consideration on which the tax provided for in subsection 1 of section 165 of the Excise Tax Act (Revised Statutes of Canada, 1985, chapter E-15) in respect of the sale is calculated.

The coupon referred to in the first paragraph is a coupon that may be exchanged for movable property or that may entitle the purchaser of such property to a discount, but it does not include a gift certificate.

1990, c. 60, s. 7.