T-0.1 - Act respecting the Québec sales tax

Section 402.25 Disposition versions

2022-06-08

402.25. An insurer and a segregated fund of the insurer may elect, in the prescribed form containing prescribed information, to have the insurer pay to, or credit in favour of, the segregated fund the amount of any rebates payable to the segregated fund under section 402.23 in respect of supplies made by the insurer to the segregated fund.

A document evidencing an election made under the first paragraph must be filed with the Minister in the manner determined by the Minister on or before the day the insurer is required to file a return under Division IV of Chapter VIII for a reporting period of the insurer in which the insurer pays or credits a rebate under section 402.23 to or in favour of the segregated fund.

The amount of a rebate payable to the segregated fund of an insurer under section 402.23 may not be paid or credited by the insurer to or in favour of the fund in respect of a taxable supply made by the insurer to the fund unless

(1)  (subparagraph repealed);

(2)  a rebate would be payable in respect of the supply if the segregated fund complied with section 402.24 in relation to the supply;

(3)  the insurer and the segregated fund have filed a document evidencing the election made under the first paragraph that is in effect when tax in respect of the supply becomes payable; and

(4)  the segregated fund, within one year after the day tax becomes payable in respect of the supply, submits to the insurer an application for the rebate in the prescribed form containing prescribed information.

2012, c. 28, s. 148; 2015, c. 21, s. 727; 2022, c. 23, s. 201.

2015-10-21

402.25. An insurer and a segregated fund of the insurer may elect, in the form and containing the information prescribed by the Minister, to have the insurer pay to, or credit in favour of, the segregated fund the amount of any rebates payable to the segregated fund under section 402.23 in respect of supplies made by the insurer to the segregated fund.

A document evidencing an election made under the first paragraph must be filed with the Minister in the manner determined by the Minister on or before the day the insurer is required to file a return under Division IV of Chapter VIII for a reporting period of the insurer in which the insurer pays or credits a rebate under section 402.23 to or in favour of the segregated fund.

The amount of a rebate payable to the segregated fund of an insurer under section 402.23 may not be paid or credited by the insurer to or in favour of the fund in respect of a taxable supply made by the insurer to the fund unless

(1)  (subparagraph repealed);

(2)  a rebate would be payable in respect of the supply if the segregated fund complied with section 402.24 in relation to the supply;

(3)  the insurer and the segregated fund have filed a document evidencing the election made under the first paragraph that is in effect when tax in respect of the supply becomes payable; and

(4)  the segregated fund, within one year after the day tax becomes payable in respect of the supply, submits to the insurer an application for the rebate in the form and containing the information determined by the Minister.

2012, c. 28, s. 148; 2015, c. 21, s. 727.

2012-12-07

402.25. An insurer and a segregated fund of the insurer may elect, in the form and containing the information prescribed by the Minister, to have the insurer pay to, or credit in favour of, the segregated fund the amount of any rebates payable to the segregated fund under section 402.23 in respect of supplies of specified services made by the insurer to the segregated fund.

A document evidencing an election made under the first paragraph must be filed with the Minister in the manner determined by the Minister on or before the day the insurer is required to file a return under Division IV of Chapter VIII for a reporting period of the insurer in which the insurer pays or credits a rebate under section 402.23 to or in favour of the segregated fund.

The amount of a rebate payable to the segregated fund of an insurer under section 402.23 may not be paid or credited by the insurer to or in favour of the fund unless

(1)  the insurer makes a taxable supply of a specified service to the segregated fund of the insurer;

(2)  a rebate would be payable in respect of the supply if the segregated fund complied with section 402.24 in relation to the supply;

(3)  the insurer and the segregated fund have filed a document evidencing the election made under the first paragraph that is in effect when tax in respect of the supply becomes payable; and

(4)  the segregated fund, within one year after the day tax becomes payable in respect of the supply, submits to the insurer an application for the rebate in the form and containing the information determined by the Minister.

2012, c. 28, s. 148.