T-0.1 - Act respecting the Québec sales tax

Section 350.2 Disposition versions

1995-01-30

350.2. Where at any time a registrant accepts, in full or partial consideration for a taxable supply of property or a service, other than a zero-rated supply, a coupon that entitles the recipient of the supply to a reduction of the price of the property or service equal to a fixed dollar amount specified in the coupon (in this section referred to as the “coupon value”) and the registrant can reasonably expect to be paid an amount for the redemption of the coupon by another person, the following rules apply, except in respect of section 425:

(1)  the tax collectible by the registrant in respect of the supply is deemed to be the tax that would be collectible if the coupon were not accepted;

(2)  the registrant is deemed to have collected, at that time, a portion of the tax collectible equal to the tax fraction of the coupon value; and

(3)  the tax payable by the recipient in respect of the supply is deemed to be the amount determined by the formula

A − B.

For the purposes of this formula,

(1)  A is the tax collectible by the registrant in respect of the supply; and

(2)  B is the tax fraction of the coupon value.

1994, c. 22, s. 556; 1995, c. 1, s. 295.

1994-06-17

350.2. Where at any time a registrant accepts, in full or partial consideration for a taxable supply of property or a service, other than a zero-rated supply, a coupon that entitles the recipient of the supply to a reduction of the price of the property or service equal to a fixed dollar amount specified in the coupon (in this section referred to as the “coupon value”) and the registrant can reasonably expect to be paid an amount for the redemption of the coupon by another person, the following rules apply, except in respect of section 425:

(1)  the tax collectible by the registrant in respect of the supply is deemed to be the tax that would be collectible if the coupon were not accepted;

(2)  the registrant is deemed to have collected, at that time, a portion of the tax collectible equal to the amount obtained by multiplying the coupon value by the tax fraction relating to the property or service in respect of which the coupon is used; and

(3)  the tax payable by the recipient in respect of the supply is deemed to be the amount determined by the formula

                        A - B.

For the purposes of this formula,

(1)  A is the tax collectible by the registrant in respect of the supply; and

(2)  B is the amount obtained by multiplying the coupon value by the tax fraction relating to the property or service in respect of which the coupon is used.

1994, c. 22, s. 556.