T-0.1 - Act respecting the Québec sales tax

Section 429.1 Disposition versions

1995-12-15

429.1. (Repealed).

1994, c. 22, s. 599; 1995, c. 63, s. 458.

1994-06-17

429.1. Where a registrant becomes a bankrupt within the meaning of the Bankruptcy and Insolvency Act (Revised Statutes of Canada, 1985, chapter B-3),

(1)  the total of all input tax refunds claimed, and all amounts deducted, in a return filed after the date of the bankruptcy for a reporting period of the registrant ending before that date shall not exceed the total of

(a)  the amount that would be the net tax for the period if no input tax refunds were claimed, and no amounts were deducted, in determining the net tax for that period, and

(b)  all amounts required to be remitted by the registrant in respect of reporting periods ending before that period and all amounts payable by the registrant in respect of those reporting periods; and

(2)  an input tax refund, a rebate under Division I of Chapter VII or an amount that may be deducted in determining the net tax, for a reporting period of the registrant ending before the date of the bankruptcy shall not be claimed or deducted in a return for a reporting period of the registrant ending after the date of the bankruptcy.

The first paragraph does not apply where, on or before the day the return mentioned in subparagraph 1 thereof is filed, all returns required under this title to be filed for, or in respect of acquisitions of immovables made in, reporting periods of the registrant ending before the date of the bankruptcy have been filed and all amounts required to be remitted by the registrant and all amounts payable under this title by the registrant in respect of those reporting periods have been remitted or paid.

1994, c. 22, s. 599.