T-0.1 - Act respecting the Québec sales tax

Section 458.4 Disposition versions

1995-12-15

458.4. A person may make an election under the second paragraph as prescribed by the Minister, in prescribed form containing prescribed information.

The person referred to in the first paragraph may elect,

(1)  where the taxation year of the person within the meaning of Part IX of the Excise Tax Act (Revised Statutes of Canada, 1985, chapter E-15) is not a calendar year, to have fiscal years that are calendar years;

(2)  where the taxation year of an individual or a trust, within the meaning of Part IX of the Excise Tax Act, is not a period that is, for the purposes of the Taxation Act (chapter I-3), the fiscal period of a business carried on by the individual or trust, or by a partnership of which the individual or trust is a member, to have the fiscal year of the individual or trust be that fiscal period.

For the purposes of the preceding paragraphs, the following rules apply:

(1)  an election made under subparagraph 1 of the second paragraph shall become effective on the first day of the calendar year;

(2)  an election made under subparagraph 2 of the second paragraph shall become effective on the first day of one of the fiscal periods of the individual or trust; and

(3)  the election shall specify the day it is to become effective and shall be filed with the Minister on or before that day.

The first paragraph does not apply in cases where section 458.6 applies.

1994, c. 22, s. 617; 1995, c. 63, s. 469.

1994-06-17

458.4. A person who is not a registrant under Subdivision d of Division V of Part IX of the Excise Tax Act (Revised Statutes of Canada, 1985, chapter E-15) may make an election under the second paragraph as prescribed by the Minister, in prescribed form containing prescribed information.

The person referred to in the first paragraph may elect,

(1)  where the taxation year of the person within the meaning of Part IX of the Excise Tax Act is not a calendar year, to have fiscal years that are calendar years;

(2)  where the taxation year of an individual or a trust, within the meaning of Part IX of the Excise Tax Act, is not a period that is, for the purposes of the Taxation Act (chapter I-3), the fiscal period of a business carried on by the individual or trust, or by a partnership of which the individual or trust is a member, to have the fiscal year of the individual or trust be that fiscal period.

For the purposes of the preceding paragraphs, the following rules apply:

(1)  an election made under subparagraph 1 of the second paragraph shall become effective on the first day of the calendar year;

(2)  an election made under subparagraph 2 of the second paragraph shall become effective on the first day of one of the fiscal periods of the individual or trust; and

(3)  the election shall specify the day it is to become effective and shall be filed with the Minister on or before that day.

1994, c. 22, s. 617.