T-0.1 - Act respecting the Québec sales tax

Section 431.1 Disposition versions

2015-12-04

431.1. For the purposes of section 431, a person is a “specified person” during a reporting period of the person if

(1)  the person is, during the reporting period, a financial institution described in the third paragraph; or

(2)  the person’s threshold amounts, determined in accordance with section 462, exceed $6,000,000 for both the particular fiscal year of the person that includes the reporting period and the person’s preceding fiscal year.

The first paragraph does not apply in respect of a person, other than a person referred to in subparagraph 1 of the first paragraph during the reporting period, where the person is a charity during the reporting period or all or substantially all of the supplies made by the person during the two fiscal years immediately preceding the particular fiscal year, other than supplies of financial services, are taxable supplies.

The financial institutions to which this section refers are the persons to whom the definition of “listed financial institution” in section 1 applies, excluding any person to whom paragraph 11 of that definition applies.

1997, c. 85, s. 688; 2003, c. 2, s. 348; 2012, c. 28, s. 156; 2015, c. 36, s. 217.

2013-01-01

431.1. For the purposes of section 431, a person is a “specified person” during a reporting period of the person if

(1)  the person is, during the reporting period, a financial institution described in the third paragraph or a person related to such a financial institution; or

(2)  the person’s threshold amounts, determined in accordance with section 462, exceed $6,000,000 for both the particular fiscal year of the person that includes the reporting period and the person’s preceding fiscal year.

The first paragraph does not apply in respect of a person, other than a person referred to in subparagraph 1 of the first paragraph during the reporting period, where the person is a charity during the reporting period or all or substantially all of the supplies made by the person during the two fiscal years immediately preceding the particular fiscal year, other than supplies of financial services, are taxable supplies.

The financial institutions to which this section refers are the persons to whom the definition of “listed financial institution” in section 1 applies, excluding any person to whom paragraph 11 of that definition applies.

1997, c. 85, s. 688; 2003, c. 2, s. 348; 2012, c. 28, s. 156.

2003-07-03

431.1. For the purposes of section 431, a person is a “specified person” during a reporting period of the person if

(1)  the person is, during the reporting period, a financial institution described in the third paragraph or a person related to such a financial institution; or

(2)  the person’s threshold amounts, determined in accordance with section 462, exceed $6,000,000 for both the particular fiscal year of the person that includes the reporting period and the person’s preceding fiscal year.

The first paragraph does not apply in respect of a person, other than a person referred to in subparagraph 1 of the first paragraph during the reporting period, where the person is a charity during the reporting period or all or substantially all of the supplies made by the person during the two fiscal years immediately preceding the particular fiscal year, other than supplies of financial services, are taxable supplies.

The financial institutions to which this section refers are the persons to whom the definition of “listed financial institution” in section 1 applies, excluding any person to whom paragraphs 3, 8 and 10 of that definition apply.

1997, c. 85, s. 688; 2003, c. 2, s. 348.

1997-12-19

431.1. For the purposes of section 431, a person is a “specified person” during a reporting period of the person if

(1)  the person is a financial institution described in the third paragraph during the reporting period; or

(2)  the person’s threshold amounts, determined in accordance with section 462, exceed $6,000,000 for both the particular fiscal year of the person that includes the reporting period and the person’s preceding fiscal year.

The first paragraph does not apply in respect of a person, other than a person who is a financial institution described in the third paragraph during the reporting period, where the person is a charity during the reporting period or all or substantially all of the supplies made by the person during the two fiscal years immediately preceding the particular fiscal year, other than supplies of financial services, are taxable supplies.

The financial institutions to which this section refers are the persons to whom the definition of “listed financial institution” in section 1 applies, including any person related to one or more of those persons, but not including any person to whom paragraphs 3, 8 and 10 of that definition apply.

1997, c. 85, s. 688.