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|
(6) Subsections (2) to (4) apply in respect
of amounts owing after June 2003.
|
|
| R.S., c. 7 (2nd
Supp.),
s. 34(1); 2001,
c. 16, s. 30(2)
|
98. (1) Subsections 72(7) and (8) of the Act
are replaced by the following:
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| Interest on
payment
|
(7) If an amount is paid to an applicant
under subsection (6), the Minister shall pay
interest at the prescribed rate to the applicant
on the amount for the period beginning on the
day that is 30 days after the day on which the
application was received by the Minister and
ending on the day on which the amount is paid.
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(2) Subsection (1) applies in respect of an
application received by the Minister of
National Revenue after June 2003.
|
|
| R.S., c. 7 (2nd
Supp.),
s. 34(1)
|
99. (1) Subsections 74(3) and (4) of the Act
are replaced by the following:
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|
| Interest on
deduction
|
(3) If a deduction is authorized under
subsection (1), interest shall be authorized at
the prescribed rate as a deduction in
accordance with that subsection for the period
beginning on the day that is 30 days after the
day on which the application for the payment
in respect of which the deduction was
authorized was received by the Minister and
ending on the day on which the notice of
determination was sent.
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(2) Subsection (1) applies in respect of an
application received by the Minister of
National Revenue after June 2003.
|
|
| R.S., c. 15 (1st
Supp.),
s. 26(1), c. 7
(2nd Supp.),
ss. 35(2) and
(3) and 36(2),
c. 12 (4th
Supp.),
ss. 31(1) and
(2) and 32(1)
to (4); 2000,
c. 30, s. 14(1);
2001, c. 16,
ss. 32(1) to
(3)
|
100. (1) Sections 78 and 79 of the Act are
replaced by the following:
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| Determination
of fiscal
months
|
78. (1) The fiscal months of a person shall
be determined in accordance with the
following rules:
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(a) if fiscal months of the person have been
determined under subsection 243(2) or (4)
for the purposes of Part IX, each of those
fiscal months is a fiscal month of the person
for the purposes of this Act;
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(b) if fiscal months of the person have not
been determined under subsection 243(2) or
(4) for the purposes of Part IX, the person
may select for the purposes of this Act fiscal
months that meet the requirements set out in
subsection 243(2); and
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(c) if neither paragraph (a) nor paragraph
(b) applies, each calendar month is a fiscal
month of the person for the purposes of this
Act.
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| Notification
of Minister
|
(2) Every person who is required to file a
return shall notify the Minister of their fiscal
months in the prescribed form and manner.
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|
| Returns and
payments
|
79. (1) Every person who is required to pay
tax under Part III or IV and every person who
holds a licence granted under or in respect of
those Parts shall, not later than the last day of
the first month after each fiscal month of the
person,
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(a) file a return with the Minister, in the
prescribed form and manner, for that fiscal
month;
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|
(b) calculate, in the return, the total amount
of the tax payable, if any, by the person for
that fiscal month; and
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|
(c) pay that amount to the Receiver
General.
|
|
| Authority for
extended
reporting
period
|
(2) Despite subsection (1), the Minister may
authorize a person to file a return and pay tax
in respect of
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|
(a) any period longer than one fiscal month
but not longer than six fiscal months, if the
tax payable by that person under Parts III
and IV for the preceding twelve fiscal
months did not exceed $4,800; or
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(b) any period longer than one fiscal month
but not longer than six fiscal months, if
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|
(i) the activities of the person that give
rise to tax payable by that person under
Part III or IV are predominantly limited
to a seasonal period of operation, and
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|
(ii) the tax payable by that person under
Parts III and IV for the equivalent period
in the preceding twelve fiscal months did
not exceed an average of $400 per fiscal
month during that equivalent period.
|
|
| Filing of
return for
extended
reporting
period
|
(3) If the Minister authorizes a person under
subsection (2) to file a return and pay tax in
respect of a period longer than one fiscal
month, the person shall, not later than the last
day of the first month after the end of the
period, file the return and pay any tax owing.
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|
| Transition to
reporting
based on
fiscal months
|
79.01 For the purposes of sections 78, 79
and 79.1, if the period that includes July 1,
2003 for which a person would have been
required to file a return under section 78 as it
read before that day (which period is referred
to in this section as the ``pre-existing
accounting period'') overlaps one or more
fiscal months of the person, including any part
of a fiscal month, the following rules apply:
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(a) the person shall file a return and pay any
amounts owing in respect of the
pre-existing accounting period in the same
manner and at the same time as the person
would have been required to under section
78 as it read before that day; and
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(b) in the case of a particular fiscal month
that includes the last day of the pre-existing
accounting period, the portion of that
particular fiscal month after that last day is
deemed to be part of the first fiscal month
following the particular fiscal month and,
for this purpose, that following fiscal month
may exceed 35 days in length.
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| Amounts
owing of $2
or less in total
|
79.02 (1) If the Minister determines, at any
time, that the total of all amounts owing by a
person to Her Majesty in right of Canada
under this Act does not exceed two dollars,
those amounts are deemed to be nil.
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| Amounts
payable of $2
or less in total
|
(2) If, at any time, the total of all amounts
payable by the Minister to a person under this
Act does not exceed two dollars, the Minister
shall apply those amounts against any amount
owing, at that time, by the person to Her
Majesty in right of Canada under this Act.
However, if the person, at that time, does not
owe any amount to Her Majesty, those
amounts payable are deemed to be nil.
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| Compound
interest on
amounts not
paid when
required
|
79.03 (1) If a person fails to pay an amount
to the Receiver General as and when required
under this Act, the person shall pay to the
Receiver General interest on the amount. The
interest shall be compounded daily at the
prescribed rate and computed for the period
beginning on the first day after the day on
which the amount was required to be paid and
ending on the day on which the amount is paid.
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| Payment of
interest that is
compounded
|
(2) For the purposes of subsection (1),
interest that is compounded on a particular day
on an unpaid amount of a person is deemed to
be required to be paid by the person to the
Receiver General at the end of the particular
day, and, if the person has not paid the interest
so computed by the end of the day after the
particular day, the interest shall be added to
the unpaid amount at the end of the particular
day.
|
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| Period where
interest not
payable
|
(3) Despite any other provision of this Act,
if the Minister notifies a person that the person
is required to pay a specified amount under
this Act and the person pays the specified
amount in full before the end of the period that
the Minister specifies with the notice, interest
is not payable on the specified amount for the
period.
|
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| Interest
amounts of
$25 or less
|
(4) If, at any time, a person pays an amount
not less than the total of all amounts, other
than interest, owing at that time to Her
Majesty in right of Canada under this Act for
a fiscal month of the person and the total
amount of interest payable by the person
under this Act for that month is not more than
$25.00, the Minister may cancel the interest.
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| Compound
interest on
amounts owed
by Her
Majesty
|
79.04 Interest shall be compounded daily at
the prescribed rate on any amount payable by
the Minister to a person. The interest shall be
computed for the period beginning on the first
day after the day on which the amount is
required to be paid and ending on the day on
which the amount is paid or is applied against
an amount owed by the person to Her Majesty
in right of Canada, unless this Act provides
otherwise.
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|
| Application of
interest
provisions if
Act amended
|
79.05 For greater certainty, if a provision of
an Act amends this Act and provides that the
amendment comes into force on, or applies as
of, a particular day that is before the day on
which the provision is assented to, the
provisions of this Act that relate to the
calculation and payment of interest apply in
respect of the amendment as though the
provision had been assented to on the
particular day.
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(2) Sections 78 to 79.01 of the Act, as
enacted by subsection (1), come into force
or are deemed to have come into force on
July 1, 2003.
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|
(3) Sections 79.02 to 79.04 of the Act, as
enacted by subsection (1), apply in respect
of amounts owing by a person to Her
Majesty in right of Canada, and in respect
of amounts payable by the Minister of
National Revenue, after June 2003.
|
|
| R.S., c. 12
(4th Supp.),
s. 33(1)
|
101. (1) Subparagraphs 79.1(1)(a)(i) to
(iii) of the Act are replaced by the following:
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(i) for a fiscal month is the lesser of
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|
(A) the tax payable under Parts III and
IV, as the case may be, other than tax
payable in accordance with the
Customs Act, by that person in that
month, and
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|
(B) the tax so payable in the last
preceding fiscal month, and
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(ii) for any period authorized under
subsection 79(2) is the lesser of
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(A) the tax payable under Parts III and
IV, as the case may be, other than tax
payable in accordance with the
Customs Act, by that person in that
period, and
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(B) the tax so payable in the last
preceding period so authorized
multiplied by the ratio that the number
of days in the period to which the
return relates is to the number of days
in that last preceding period; and
|
|
| R.S., c. 12
(4th Supp.),
s. 33(1); 1999,
c. 31,
par. 247(b)(F)
|
(2) Subparagraph 79.1(1)(b)(ii) of the Act
is replaced by the following:
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(A) was, at any time in the last
preceding calendar year ending at least
ninety days, or ninety-one days if that
time falls in a leap year, before that
time, a member of a group of
associated corporations (within the
meaning of section 256 of the Income
Tax Act) and the aggregate amount of
taxes payable under Parts III and IV,
other than taxes payable in accordance
with the Customs Act, by the group in
that year exceeded twelve million
dollars, and
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|
(B) is not, at that time, authorized
under subsection 79(2) to file a return
for a period longer than one fiscal
month.
|
|
| R.S., c. 12
(4th Supp.),
s. 33(1)
|
(3) Subsections 79.1(2) to (8) of the Act
are replaced by the following:
|
|
| Instalment
payments by
large
taxpayers
|
(2) A large taxpayer who is required to file
a return and pay tax under subsection 79(1)
shall pay two instalments, each equal to
one-half of the taxpayer's instalment base for
the fiscal month in which the tax became
payable or the sales were made, as the case
may be, the first to be paid not later than the
last day of that month and the second not later
than the day that is 15 days after that last day.
|
|
| Instalment
payments by
other persons
|
(3) A person, other than a large taxpayer,
who is required under subsection 79(1) or (3)
to file a return and pay tax in respect of a fiscal
month or other period authorized under
subsection 79(2) shall, not later than 21 days
after the end of the month or period, as the case
may be, pay an instalment on account of the
tax equal to the person's instalment base for
the month or period.
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|
(4) Subsections (1) to (3) come into force
or are deemed to have come into force on
July 1, 2003.
|
|
| R.S., c. 12
(4th Supp.),
s. 33(1); 1999,
c. 17,
s. 150(E) and
par. 156(a)
|
102. (1) Section 79.2 of the Act is replaced
by the following:
|
|
| Filing of
return by mail
|
79.2 (1) If a person who is required under
this Act to file a return with the Minister does
so by mailing the return, the return is deemed
to have been filed with the Minister on the day
on which the return was mailed and the date of
the postmark is evidence of that day.
|
|
| Payment or
remittance of
amounts
|
(2) A person who is required under this Act
to pay or remit an amount to the Receiver
General shall not be considered as having paid
or remitted the amount until it is received by
the Receiver General.
|
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|
|
(2) Subsection (1) comes into force or is
deemed to have come into force on July 1,
2003.
|
|
| 1990, c. 45,
s. 11(1)
|
103. (1) Subsection 80(2) of the Act is
replaced by the following:
|
|
| Alternate
reporting
|
(2) Any person filing a return under section
79 may, in lieu of submitting a report under
subsection (1), include in the return a report in
the prescribed form containing details of the
person's sales, taxes paid under this Act and
deductions under subsection 69(2) in the
period to which the return relates and any
other prescribed information.
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|
(2) Subsection (1) applies in respect of
fiscal months that begin after June 2003.
|
|
| R.S., c. 7 (2nd
Supp.),
s. 38(1)
|
104. (1) Subsections 81.16(4) to (6) of the
Act are replaced by the following:
|
|
| Interest on
reassessment
|
(4) Subject to subsection (5), if an amount
is paid under subsection (1), interest at the
prescribed rate shall be paid, in respect of each
day between the date of the notice of the
assessment that is the subject of the objection
and the day on which the payment was sent.
|
|
| Interest on
amount paid
by person
|
(5) If a person has paid an amount on
account of the amount owing as set out in a
notice of assessment and a payment is made to
that person under subsection (1) on an
objection to the assessment, interest at the
prescribed rate shall be paid, in respect of each
day between the day on which the amount was
paid by that person and the day on which the
payment was sent to that person.
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|
|
(2) Subsection (1) applies in respect of
amounts payable by the Minister of
National Revenue after June 2003.
|
|
| R.S., c. 7 (2nd
Supp.),
s. 38(1)
|
105. (1) Subsections 81.18(3) to (5) of the
Act are replaced by the following:
|
|
| Interest on
refund
payments
|
(3) If an amount is paid under subsection
(1), interest at the prescribed rate shall be paid,
in respect of each day between the day that is
30 days after the day on which the application
that is the subject of the reconsideration was
received by the Minister and the day on which
the payment is sent.
|
|
| Interest on
refund
deductions
|
(4) If a deduction is authorized under
subsection (2), interest at the prescribed rate
shall be authorized as a deduction in
accordance with subsection 74(1), calculated
in respect of each day between the day that is
30 days after the day on which the application
was received by the Minister and the day on
which the notice of decision was sent.
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|
(2) Subsection (1) applies in respect of
amounts payable by the Minister of
National Revenue after June 2003.
|
|
| R.S., c. 7 (2nd
Supp.),
s. 38(1); 2001,
c. 16, s. 33(1)
|
106. (1) Subsections 81.38(6) to (9) of the
Act are replaced by the following:
|
|
| Interest on
assessment
|
(6) Subject to subsection (7), if a payment
is made under subsection (1) or (4) in respect
of an assessment, interest at the prescribed
rate shall be paid, in respect of each day
between the date of the notice of assessment
and the day on which the payment was sent.
|
|
| Interest on
amounts
payable to
person
|
(7) If a person has paid an amount on
account of the amount owing as set out in a
notice of assessment or a notice of decision
and a payment is made to that person under
subsection (1) or (4) in respect of the
assessment, interest at the prescribed rate shall
be paid, in respect of each day between the day
on which the amount was paid by that person
and the day on which the payment was sent to
that person.
|
|
| Interest on
refunds
|
(8) If a payment is made under subsection
(1) or (4) in respect of an application under any
of sections 68 to 69, interest at the prescribed
rate shall be paid, in respect of each day
between the day that is 30 days after the day
on which the application was received by the
Minister and the day on which the payment
was sent.
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|
(2) Subsection (1) applies in respect of
amounts owing by a person to the Receiver
General or amounts payable by the
Minister of National Revenue, as the case
may be, after June 2003.
|
|
| R.S., c. 7 (2nd
Supp.),
s. 38(1); 1993,
c. 27, s. 4(1)
|
107. (1) Section 81.39 of the Act is
replaced by the following:
|
|
| Deemed tax
|
81.39 (1) Subject to subsection (4), if a
person has
|
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|
(a) received a drawback under section 70,
|
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|
(b) received a payment under subsection
68.16(1) or (2), 72(6) or (7), 81.14(1),
81.16(1), (4) or (5), 81.18(1) or (3) or
120(7), or
|
|
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|
(c) made a deduction under subsection
69(2), 73(1), (2) or (3), 74(1) or (3) or
81.18(2) or (4)
|
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|
to which that person was not entitled or in
excess of the drawback, payment or deduction
to which the person was entitled, the amount
of the drawback, payment or deduction or the
excess is deemed to be a tax under this Act
payable by that person on the day the
drawback, payment or deduction was made.
|
|
| Amount
payable after
disposition of
appeal
|
(2) If a person has received a payment under
subsection 81.38(1), (6), (7) or (8) and, on the
final disposition of the appeal by further
appeal or otherwise, it is determined that the
person was not entitled to the payment or that
the payment was in excess of the payment to
which the person was entitled, the amount of
the payment or the excess is deemed to be a tax
under this Act payable by that person on the
day the payment was made.
|
|
| Amount
payable after
disposition of
further appeal
|
(3) If a person has received a payment under
subsection 81.38(4), (6), (7) or (8) and, on the
final disposition by further appeal or
otherwise of the appeal referred to in
subsection 81.38(1) on the basis of which the
payment was made, it is determined that the
person was not entitled to the payment or that
the payment was in excess of the payment to
which the person was entitled, the amount of
the payment or the excess is deemed to be a tax
under this Act payable by that person on the
day the payment was made.
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