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173. (1) Paragraph 178.5(8)(a) of the Act
is replaced by the following:
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(2) Subsection (1) comes into force on
April 1, 1997.
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174. (1) Paragraph 179(1)(c) of the Act, as
amended by subsection 30(2), is replaced by
the following:
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(2) Paragraph 179(6)(b) of the Act is
replaced by the following:
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(3) Subsections (1) and (2) come into force
on April 1, 1997.
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175. (1) Subsection 181(1) of the Act is
replaced by the following:
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Definitions
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181. (1) The definitions in this subsection
apply in this section.
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``coupon'' « bon »
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``coupon'' includes a voucher, receipt, ticket
or other device but does not include a gift
certificate.
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``tax fraction'' « fraction de taxe »
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``tax fraction'' of a coupon value or of the dis
count or exchange value of a coupon means
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A/B |
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A is the total of 7% and the tax rate for
that participating province, and
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B is the total of 100% and the percentage
determined for A; and
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(2) Subsection 181(3) of the Act is re
placed by the following:
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Acceptance of
non- reimbursable coupon
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(3) 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 or a
fixed percentage, specified in the coupon, of
the price (the amount of which reduction is, in
each case , referred to in this subsection as the
``coupon value'') and the registrant can rea
sonably expect not to be paid an amount for
the redemption of the coupon by another
person,
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(3) Paragraph 181(5)(c) of the Act is
replaced by the following:
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(4) Subsections (1) to (3) come into force
on April 1, 1997.
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176. (1) Paragraph 181.1(e) of the Act is
replaced by the following:
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A/B |
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A is
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B is the total of 100% and the percentage
determined for A, and
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(2) The description of A in paragraph
181.1(f) of the Act is replaced by the
following:
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A is the tax fraction in respect of the
rebate,
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(3) Subsections (1) and (2) come into force
on April 1, 1997.
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177. (1) Paragraphs 182(1)(a) and (b) of
the Act, as enacted by subsection 32(1), are
replaced by the following:
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(A/B) x C |
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A is 100%,
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B is
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C is the amount paid, forfeited or extin
guished, or by which the debt or obliga
tion was reduced, as the case may be;
and
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(2) Subsection (1) comes into force on
April 1, 1997.
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178. (1) Paragraph 183(4)(a) of the Act is
replaced by the following:
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(A/B) x C |
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A is
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B is the total of 100% and the percentage
determined for A, and
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C is the fair market value of the property
at that time; and
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(2) Subparagraph 183(5)(b)(i) of the Act
is replaced by the following:
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(A/B) x C |
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A is
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(A) where the property is situated in
a participating province at the par
ticular time, the total of 7% and the
tax rate for that province, and
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(B) in any other case, 7%,
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B is the total of 100% and the percentage
determined for A, and
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C is the fair market value of the property
at the time it was seized or repos
sessed, and
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(3) The portion of subparagraph
183(6)(a)(ii) of the Act after clause (B), as
enacted by subsection 33(3), is replaced by
the following:
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(A/B) x C |
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A is
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(A) where the property is situated in
a participating province at the par
ticular time and was seized or repos
sessed within three years after the
implementation date for that prov
ince (within the meaning assigned
by subsection 348(i)) or the property
is situated in a non-participating
province at the particular time, 7%
and
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(B) in any other case, the total of 7%
and the tax rate for the participating
province in which the property is
situated at the particular time,
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B is the total of 100% and the percentage
determined for A, and
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C is the fair market value of the property
at the time it was seized or repos
sessed; and
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(4) Paragraph 183(6)(b) of the Act is
replaced by the following:
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(A/B) x C |
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A is
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B is the total of 100% and the percentage
determined for A, and
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C is the fair market value of the property
at the time it was seized or repossessed.
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(5) The portion of paragraph 183(7)(d) of
the Act before the description of B is
replaced by the following:
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A - B |
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A is
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