T-0.1 - Act respecting the Québec sales tax

Section 350.0.2 Disposition versions

2015-10-21

350.0.2. In this subdivision, a person, other than a prescribed person or a person of a prescribed class, is a reporting institution throughout a fiscal year of the person if

(1)  the person is a financial institution at any time in the fiscal year;

(2)  the person is a registrant at any time in the fiscal year; and

(3)  the total of all amounts each of which is an amount included in computing, for the purposes of the Income Tax Act (R.S.C. 1985, c. 1, (5th Suppl.)), the person’s income, or, if the person is an individual, the person’s income from a business for the purposes of that Act, for the last taxation year of the person that ends in the fiscal year, exceeds the amount determined by the formula

$1,000,000 × A/365.

For the purposes of the formula in subparagraph 3 of the first paragraph, A is the number of days in the taxation year.

2012, c. 28, s. 112; 2015, c. 21, s. 693.

2012-12-07

350.0.2. In this subdivision, a person, other than a prescribed person or a person of a prescribed class, is a reporting institution throughout a fiscal year of the person if

(1)  the person is a financial institution at any time in the fiscal year;

(2)  the person is a registrant at any time in the fiscal year; and

(3)  the total of all amounts each of which is an amount included in computing, for the purposes of the Taxation Act (chapter I-3), the person’s income, or, if the person is an individual, the person’s income from a business for the purposes of that Act, for the last taxation year of the person that ends in the fiscal year, exceeds the amount determined by the formula

$1,000,000 × A/365.

For the purposes of the formula in subparagraph 3 of the first paragraph, A is the number of days in the taxation year.

2012, c. 28, s. 112.