Refunds and rebates of another person

(7) A person may, in prescribed circum stances and subject to prescribed conditions and rules, reduce or offset the tax that is required to be remitted under subsection (2) or (2.3) or paid under subsection (2.1) or (4) or Division IV or IV.1 by that person at any time by the amount of any refund or rebate to which another person may at that time be entitled under this Part.

(5) Subsections (1) to (4) apply to report ing periods that end after March 1997.

1990, c. 45, s. 12(1)

212. (1) Subsection 229(2) of the Act is replaced by the following:

Restriction

(2) A net tax refund for a reporting period of a person shall not be paid to the person under subsection (1) until such time as

    (a) in the case of an interim net tax refund, all returns required to be filed under this Division by the person for all preceding reporting periods have been filed with the Minister; and

    (b) in any other case , all returns required to be filed under this Division by the person for the reporting period and all preceding reporting periods have been filed with the Minister.

(2) Subsection (1) comes into force on April 1, 1997.

213. (1) Subsection 230(1) of the Act, as enacted by subsection 48(1), is replaced by the following:

Refund of payment

230. (1) Where a person has paid instal ments or interim net tax for a reporting period of the person, or any other amounts on account of the person's net tax for the period, that exceed the amount of the net tax remittable by the person for the period and the person claims a refund of the excess in a return (other than an interim return) for the period filed under this Division by the person, the Minister shall refund the excess to the person with all due dispatch after the return is filed.

(2) Subsection (1) comes into force on April 1, 1997.

1990, c. 45, s. 12(1)

214. (1) Paragraph 233(2)(a) of the Act is replaced by the following:

    (a) to have reduced, at that time, the total consideration for those supplies by the amount determined by the formula 

                              (A/B) x C

    where

A is 100,

B is 107, and

C is

        (i) where the particular person has made an election under this subpara graph that is in effect for that fiscal year, the part of the dividend that is in respect of taxable supplies (other than zero-rated supplies) made to the other person, and

        (ii) in any other case, the specified amount in respect of the dividend;

    (a.1) where the supplies include supplies made in a participating province to the other person, to have, at that time, reduced further the total consideration for those supplies made in that province by the amount determined by the formula
 

                              A x 100%/B

    where

A is

        (i) where the particular person has made an election under subparagraph (i) of the description of C in paragraph (a), the part of the dividend that is in respect of taxable supplies (other than zero-rated supplies) made in that prov ince to the other person in respect of which tax under subsection 165(2) was payable, and

        (ii) in any other case, the amount determined by the formula
 

                              (C/D) x E

        where

C is the part of the dividend that may reasonably be regarded as being in respect of supplies made in that province to the other person in respect of which tax under subsec tion 165(2) was payable,

D is the total amount of the dividend, and

E is the specified amount, and

B is the total of 100% and the tax rate for that province; and

1993, c. 27, s. 94(4)

(2) Subsections 233(4) and (5) are re placed by the following:

Time for election

(4) An election made under subparagraph (i) of the description of C in paragraph (2)(a) or under subsection (3) by a person shall be made before any patronage dividend is paid by the person in the fiscal year of the person in which the election is to take effect.

Revocation of election

(5) An election made under subparagraph (i) of the description of C in paragraph (2)(a) or under subsection (3) by a person may be revoked by the person before any dividend is paid by the person in the fiscal year of the person in which the revocation is to take effect.

(3) Subsections (1) and (2) come into force on April 1, 1997.

215. (1) Section 234 of the Act is amended by adding the following after subsection (2):

Deduction in respect of supply in a participating province

(3) Where a registrant makes a supply in a participating province and the registrant pays to, or credits in favour of, the recipient of the supply a prescribed amount in respect of the supply, the registrant may deduct that amount in determining the net tax of the registrant for the reporting period of the registrant in which the amount was paid or credited.

Restriction on input tax credits etc. for amounts paid or credited

(4) No amount of tax under any of subsec tion 165(2), sections 212.1 and 218.1 and Division IV.1 shall be included in determining any input tax credit, rebate, refund or remis sion under this or any other Act of Parliament where the amount is prescribed for the pur poses of subsection (3).

(2) Subsection (1) comes into force on April 1, 1997.

1993, c. 27, s. 96(1)

216. (1) The portion of subsection 235(1) of the Act before paragraph (b) is replaced by the following:

Net tax where passenger vehicle leased

235. (1) Where, in a taxation year of a registrant, tax becomes payable, or is paid without having become payable, by the regis trant in respect of supplies of a passenger vehicle made under a lease and

    (a) the total of the consideration for the supplies that would be deductible in com puting the registrant's income for the year for the purposes of the Income Tax Act, if the registrant were a taxpayer under that Act and that Act were read without reference to section 67.3 thereof,

exceeds

(2) Subsection (1) comes into force on April 1, 1997.

1993, c. 27, s. 98(1)

217. (1) Subsection 237(1) of the Act is replaced by the following:

Instalments

237. (1) Where the reporting period of a registrant is a fiscal year or a period deter mined under subsection 248(3), the registrant shall, within one month after the end of each fiscal quarter of the registrant ending in the reporting period, pay to the Receiver General an instalment equal to

    (a) except where paragraph (b) applies, 1/4 of the registrant's instalment base for that reporting period; or

    (b) the amount determined under subsec tion (5).

1990, c. 45, s. 12(1)

(2) Subsection 237(5) of the Act is re placed by the following:

Selected listed financial institution - Instalments in first fiscal year

(5) For the purposes of subsection (1), where a person becomes a selected listed financial institution during a reporting period of the person that begins on or after April 1, 1997, the instalment to be paid within one month after the end of each fiscal quarter in the reporting period is

    (a) where the fiscal quarter is the first fiscal quarter in the reporting period, 1/4 of the amount determined under subsection (2); and

    (b) in any other case, the lesser of

      (i) 1/4 of the amount determined under paragraph (2)(a), and

      (ii) the amount determined by the formu la
 

                           A + B

      where

A is 1/4 of the financial institution's instalment base for the reporting peri od determined under paragraph (2)(b) as if the financial institution were not a selected listed financial institution and tax were not imposed under any of subsection 165(2), sections 212.1 and 218.1 and Division IV.1, and

B is the total of all amounts, each of which is determined for a participating province by the formula 

                              C x D

        where

C is the amount determined for A in this subparagraph, and

D is the financial institution's percent age for the participating province for the immediately preceding fiscal quarter, determined in accordance with the prescribed method that applies to that financial institution.

(3) Subsections (1) and (2) come into force on April 1, 1997.

218. (1) Section 238 of the Act is amended by adding the following after subsection (2):

Filing by certain selected listed financial institutions

(2.1) Notwithstanding paragraph (1)(b) and subsection (2), where a selected listed finan cial institution's reporting period is a fiscal month or fiscal quarter, the financial institu tion shall

    (a) file an interim return for the period with the Minister within one month after the end of the period; and

    (b) file a final return for the period with the Minister within three months after the end of the fiscal year in which the period ends.

(2) Subsection (1) applies to reporting periods that end after March 1997.

1993, c. 27, s. 100(2)

219. (1) The portion of paragraph 240(3)(d) of the Act after subparagraph (ii) is replaced by the following:

    where all or substantially all of the property of the other corporation is, for the purposes of section 186, property that was last acquired or imported by the other corpora tion for consumption, use or supply exclu sively in the course of its commercial activities.

(2) Subsection (1) comes into force on April 1, 1997.

1993, c. 27, s. 107(1)

220. (1) The portion of subsection 252.4(1) of the French version of the Act before paragraph (a) is replaced by the following:

Rembourse-
ment au promoteur d'un congrès étranger

252.4 (1) Sous réserve du paragraphe (2), le ministre rembourse le promoteur d'un congrès étranger, sur présentation par celui-ci d'une demande au cours de l'année suivant le jour du congrès, dans le cas où le promoteur paie la taxe payable aux fournitures, importations ou transferts suivants :

1993, c. 27, s. 107(1)

(2) Paragraph 252.4(1)(c) of the Act is replaced by the following:

    (c) property that is imported or brought into a participating province by the sponsor, or an imported taxable supply (within the meaning assigned by section 217) of ser vices that are acquired by the sponsor, for consumption, use or supply by the sponsor as related convention supplies,

1993, c. 27, s. 107(1)

(3) Paragraph 252.4(1)(e) of the Act is replaced by the following:

    (e) in any other case, the tax paid by the sponsor in respect of the supply or importa tion of the property or service or the bringing into a participating province of the property.

1993, c. 27, s. 107(1)

(4) Subsection 252.4(3) of the Act is replaced by the following:

Rebate to organizer

(3) Where an organizer of a foreign conven tion who is not registered under Subdivision d of Division V pays tax in respect of a supply of the convention facility or a supply, importa tion or the bringing into a participating province of related convention supplies, the Minister shall, on the application of the organizer filed within one year after the convention ends, pay a rebate to the organizer equal to the amount of that tax.

(5) Subsections (1) to (4) come into force on April 1, 1997.

221. (1) Paragraph 253(1)(a) of the Act, as enacted by subsection 62(1), is replaced by the following:

    (a) a musical instrument, motor vehicle, aircraft or any other property or a service is or would, but for subsection 272.1(1), be regarded as having been acquired, imported or brought into a participating province by an individual who is

(2) Paragraphs 253(1)(a.1) and (b) of the Act, as enacted by subsection 62(1), and paragraph 253(1)(c) of the Act are replaced by the following:

    (a.1) in the case of an individual who is a member of a partnership, the instrument, vehicle, aircraft or other property or service acquired, imported or brought into a partici pating province was not acquired or im ported by the individual on the account of the partnership,

    (b) the individual has paid the tax (in this subsection referred to as the ``tax paid by the individual'') payable in respect of the acquisition or importation of the property or service, or the bringing into a participating province of the property, as the case may be, and

    (c) in the case of an acquisition, importation or bringing into a participating province, of a musical instrument, the individual is not entitled to claim an input tax credit in respect of the instrument,

1993, c. 27, s. 108(1)

(3) The description of A in subsection 253(1) of the Act is replaced by the follow ing:

A is

      (a) where the tax paid by the individual includes only tax imposed under subsec tion 165(1) or section 212 or 218, 7/107,

      (b) where the tax paid by the individual does not include any tax imposed under any of those provisions, 8/108, and

      (c) in any other case, 15/115,

1990, c. 45, s. 12(1)

(4) Subsections (1) to (3) come into force on April 1, 1997.