Versions of s. 178.4(8)

E-15 — Excise Tax Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2017-12-14 to present available View Source

If all or part of a bad debt in respect of which a distributor of a direct seller has made a deduction under subsection (7) is recovered, the distributor shall, in determining the net tax for the distributor’s reporting period in which the bad debt or that part is recovered, add the amount determined by the formula A × B/C where A is the amount recovered; B is the tax payable in respect of the supply to which the bad debt relates; and C is the total of the consideration and tax, and any applicable provincial tax, payable in respect of that supply.

Full text

If all or part of a bad debt in respect of which a distributor of a direct seller has made a deduction under subsection (7) is recovered, the distributor shall, in determining the net tax for the distributor’s reporting period in which the bad debt or that part is recovered, add the amount determined by the formula A × B/C where A is the amount recovered; B is the tax payable in respect of the supply to which the bad debt relates; and C is the total of the consideration and tax, and any applicable provincial tax, payable in respect of that supply.
2003-01-01 to 2017-12-14 View Source

If all or part of a bad debt in respect of which a distributor of a direct seller has made a deduction under subsection (7) is recovered, the distributor shall, in determining the net tax for the distributor’s reporting period in which the bad debt or that part is recovered, add the amount determined by the formula A × B/C where A is the amount recovered; B is the tax payable in respect of the supply to which the bad debt relates; and C is the total of the consideration and tax, and any applicable provincial tax, payable in respect of that supply.