T-0.1 - Act respecting the Québec sales tax

Section 450.0.5 Disposition versions

2020-09-24

450.0.5. A person may, on a particular day, issue to a pension entity of a pension plan a note (in sections 450.0.6 and 450.0.7 referred to as a “tax adjustment note”) in respect of employer resources consumed or used for the purpose of making a supply (in this section and in sections 450.0.6 and 450.0.7 referred to as the “actual pension supply”) of a property or a service to the pension entity or to a master pension entity of the pension plan, specifying an amount determined in accordance with section 450.0.6, if

(1)  the person is deemed under subparagraph 2 of the first paragraph of section 289.6 or 289.6.1 to have collected tax, on or before the particular day, in respect of one or more taxable supplies, deemed to have been made by the person under subparagraph 1 of that paragraph, of the employer resources;

(2)  a supply of each of those employer resources is deemed to have been received by the pension entity under subparagraph a of subparagraph 4 of the first paragraph of section 289.6 or 289.6.1 and tax in respect of each of those supplies is deemed to have been paid by the pension entity

(a)  except in the case described in subparagraph b, under subparagraph b of subparagraph 4 of the first paragraph of section 289.6 or 289.6.1, or

(b)  if the pension entity is a selected listed financial institution on the last day of the fiscal year in which the employer resources are consumed or used for the purpose of making an actual pension supply, under clause A of subparagraph ii of paragraph d of subsection 6 or 6.1 of section 172.1 of the Excise Tax Act (R.S.C. 1985, c. E-15); and

(3)  an amount of tax becomes payable, or is paid without having become payable, on or before the particular day, to the person (otherwise than by the operation of sections 289.2 to 289.8.1) in respect of the actual pension supply

(a)  by the pension entity, if the taxable supplies referred to in paragraph 1 are deemed to have been made under subparagraph 1 of the first paragraph of section 289.6, or

(b)  by the master pension entity, if the taxable supplies referred to in paragraph 1 are deemed to have been made under subparagraph 1 of the first paragraph of section 289.6.1.

2011, c. 34, s. 155; 2012, c. 28, s. 163; 2020, c. 16, s. 244.

2013-01-01

450.0.5. A person may, on a particular day, issue to a pension entity a note (in sections 450.0.6 and 450.0.7 referred to as a “tax adjustment note”) in respect of employer resources consumed or used for the purpose of making a supply (in this section and in sections 450.0.6 and 450.0.7 referred to as the “actual pension supply”) of a property or a service to the pension entity, specifying an amount determined in accordance with section 450.0.6, if

(1)  the person is deemed under subparagraph 2 of the first paragraph of section 289.6 to have collected tax, on or before the particular day, in respect of one or more taxable supplies, deemed to have been made by the person under subparagraph 1 of that paragraph, of the employer resources;

(2)  a supply of each of those employer resources is deemed to have been received by the pension entity under subparagraph a of subparagraph 4 of the first paragraph of section 289.6 and tax in respect of each of those supplies is deemed to have been paid by the pension entity

(a)  except in the case described in subparagraph b, under subparagraph b of subparagraph 4 of the first paragraph of section 289.6, or

(b)  if the pension entity is a selected listed financial institution on the last day of the fiscal year in which the employer resources are consumed or used for the purpose of making an actual pension supply, under clause A of subparagraph ii of paragraph d of subsection 6 of section 172.1 of the Excise Tax Act (R.S.C. 1985, c. E-15); and

(3)  an amount of tax becomes payable, or is paid without having become payable, to the person (otherwise than by the operation of sections 289.2 to 289.8) by the pension entity in respect of the actual pension supply on or before the particular day.

2011, c. 34, s. 155; 2012, c. 28, s. 163.

2011-12-09

450.0.5. A person may, on a particular day, issue to a pension entity a note (in sections 450.0.6 and 450.0.7 referred to as a “tax adjustment note”) in respect of employer resources consumed or used for the purpose of making a supply (in this section and in sections 450.0.6 and 450.0.7 referred to as the “actual pension supply”) of a property or a service to the pension entity, specifying an amount determined in accordance with section 450.0.6, if

(1)  the person is deemed under subparagraph 2 of the first paragraph of section 289.6 to have collected tax, on or before the particular day, in respect of one or more taxable supplies, deemed to have been made by the person under subparagraph 1 of that paragraph, of the employer resources;

(2)  a supply of each of those employer resources is deemed to have been received by the pension entity under subparagraph a of subparagraph 4 of the first paragraph of section 289.6 and tax in respect of each of those supplies is deemed to have been paid under subparagraph b of that subparagraph 4 by the pension entity; and

(3)  an amount of tax becomes payable, or is paid without having become payable, to the person (otherwise than by the operation of sections 289.2 to 289.8) by the pension entity in respect of the actual pension supply on or before the particular day.

2011, c. 34, s. 155.