T-0.1 - Act respecting the Québec sales tax

Section 54.1.2 Disposition versions

2001-12-20

54.1.2. For the purposes of section 54.1.1, “specified number of remaining lease payments”, at a particular time, in respect of a particular agreement for the supply of property by way of lease that is an original leaseback agreement or a subsequent lease in respect of that agreement, is the amount determined by the formula

A − B.

For the purposes of this formula,

(1)  A is the total number of payments that the lessee was obligated to make as consideration for the supplies of the property by way of lease under the particular agreement based on the terms of that agreement at the time it was entered into; and

(2)  B is the total number of payments referred to in subparagraph 1 that, before the particular time, became due or were paid by the lessee.

2001, c. 53, s. 284.