Versions of s. 225.1(2)

E-15 — Excise Tax Act · 3 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

Subject to subsection (7), the net tax for a particular reporting period of a charity that is a registrant is equal to the positive or negative amount determined by the formula A - B where A is the total of 60% of the total of all amounts, each of which is an amount collectible by the charity that, in the particular reporting period, became collectible or was collected before having become collectible, by the charity as or on account of tax in respect of specified supplies made by the charity, the total of all amounts that became collectible and all other amounts collected by the charity in the particular reporting period as or on account of tax in respect of supplies by way of sale of capital property or real property made by the charity, supplies by the charity to which subsection 172(2) or 173(1) applies, and supplies made on behalf of another person for whom the charity acts as agent and that are deemed under subsection 177(1) or (1.2) to have been made by the charity and not by the other person, or in respect of which the charity has made an election under subsection 177(1.1), the total of all amounts each of which is an amount not included in paragraph (b) that was collected from a person by the charity in the particular reporting period as or on account of tax in circumstances in which the amount was not payable by the person, whether the amount was paid by the person by mistake or otherwise, the total of all amounts each of which is an amount in respect of supplies of real property or capital property made by way of sale by or to the charity that is required under subsection 231(3) or 232(3) to be added in determining the net tax for the particular reporting period, and the amount required under subsection 238.1(4) to be added in determining the net tax for the particular reporting period; and B is the total of all input tax credits of the charity for the particular reporting period and preceding reporting periods in respect of real property acquired by the charity by way of purchase, personal property acquired, imported or brought into a participating province by the charity for use as capital property of the charity, improvements to real property or capital property of the charity, tangible personal property (other than property referred to in subparagraph (ii) or (iii)) that is acquired, imported or brought into a participating province by the charity for the purpose of supply by way of sale and is supplied by a person acting as agent for the charity in circumstances in which subsection 177(1.1) applies, or deemed by subsection 177(1.2) to have been supplied by an auctioneer acting as agent for the charity, and tangible personal property (other than property referred to in subparagraph (ii) or (iii)) deemed under paragraph 180(e) to have been acquired by the charity and under subsection 177(1) or (1.2) to have been supplied by the charity that are claimed in the return under this Division filed for the particular reporting period, 60% of the total of all amounts in respect of specified supplies that may be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(2), or that may be deducted under subsection 234(2) or (3), in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting ~~period,[Repealed,~~period, ~~2007,~~60% c.of ~~18,~~the s.total ~~26]~~of all amounts that may be deducted by the charity under paragraph 232.01(5)(a) or 232.02(4)(a) in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting period, the total of all amounts that may, in determining the net tax for the particular reporting period, be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(1) in respect of specified supplies and that are claimed in the return under this Division filed for that reporting period, the total of all amounts in respect of supplies of real property or capital property made by way of sale by the charity that may be deducted by the charity under subsection 231(1) or 232(3) or section 234 in determining the net tax for the particular reporting period and are claimed in the return under this Division filed for that reporting period, and the total of all amounts each of which is an input tax credit (other than an input tax credit referred to in paragraph (a)) of the charity, for a preceding reporting period in respect of which this subsection did not apply for the purpose of determining the net tax of the charity, that the charity was entitled to include in determining its net tax for that preceding reporting period and that is claimed in the return under this Division filed for the particular reporting period.

Full text

Subject to subsection (7), the net tax for a particular reporting period of a charity that is a registrant is equal to the positive or negative amount determined by the formula A - B where A is the total of 60% of the total of all amounts, each of which is an amount collectible by the charity that, in the particular reporting period, became collectible or was collected before having become collectible, by the charity as or on account of tax in respect of specified supplies made by the charity, the total of all amounts that became collectible and all other amounts collected by the charity in the particular reporting period as or on account of tax in respect of supplies by way of sale of capital property or real property made by the charity, supplies by the charity to which subsection 172(2) or 173(1) applies, and supplies made on behalf of another person for whom the charity acts as agent and that are deemed under subsection 177(1) or (1.2) to have been made by the charity and not by the other person, or in respect of which the charity has made an election under subsection 177(1.1), the total of all amounts each of which is an amount not included in paragraph (b) that was collected from a person by the charity in the particular reporting period as or on account of tax in circumstances in which the amount was not payable by the person, whether the amount was paid by the person by mistake or otherwise, the total of all amounts each of which is an amount in respect of supplies of real property or capital property made by way of sale by or to the charity that is required under subsection 231(3) or 232(3) to be added in determining the net tax for the particular reporting period, and the amount required under subsection 238.1(4) to be added in determining the net tax for the particular reporting period; and B is the total of all input tax credits of the charity for the particular reporting period and preceding reporting periods in respect of real property acquired by the charity by way of purchase, personal property acquired, imported or brought into a participating province by the charity for use as capital property of the charity, improvements to real property or capital property of the charity, tangible personal property (other than property referred to in subparagraph (ii) or (iii)) that is acquired, imported or brought into a participating province by the charity for the purpose of supply by way of sale and is supplied by a person acting as agent for the charity in circumstances in which subsection 177(1.1) applies, or deemed by subsection 177(1.2) to have been supplied by an auctioneer acting as agent for the charity, and tangible personal property (other than property referred to in subparagraph (ii) or (iii)) deemed under paragraph 180(e) to have been acquired by the charity and under subsection 177(1) or (1.2) to have been supplied by the charity that are claimed in the return under this Division filed for the particular reporting period, 60% of the total of all amounts in respect of specified supplies that may be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(2), or that may be deducted under subsection 234(2) or (3), in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting period, 60% of the total of all amounts that may be deducted by the charity under paragraph 232.01(5)(a) or 232.02(4)(a) in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting period, the total of all amounts that may, in determining the net tax for the particular reporting period, be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(1) in respect of specified supplies and that are claimed in the return under this Division filed for that reporting period, the total of all amounts in respect of supplies of real property or capital property made by way of sale by the charity that may be deducted by the charity under subsection 231(1) or 232(3) or section 234 in determining the net tax for the particular reporting period and are claimed in the return under this Division filed for that reporting period, and the total of all amounts each of which is an input tax credit (other than an input tax credit referred to in paragraph (a)) of the charity, for a preceding reporting period in respect of which this subsection did not apply for the purpose of determining the net tax of the charity, that the charity was entitled to include in determining its net tax for that preceding reporting period and that is claimed in the return under this Division filed for the particular reporting period.
2007-06-22 to 2017-12-14 View Source

Subject to subsection (7), the net tax for a particular reporting period of a charity that is a registrant is equal to the positive or negative amount determined by the formula A - B where A is the total of 60% of the total of all amounts, each of which is an amount collectible by the charity that, in the particular reporting period, became collectible or was collected before having become collectible, by the charity as or on account of tax in respect of specified supplies made by the charity, the total of all amounts that became collectible and all other amounts collected by the charity in the particular reporting period as or on account of tax in respect of supplies by way of sale of capital property or real property made by the charity, supplies by the charity to which subsection 172(2) or 173(1) applies, and supplies made on behalf of another person for whom the charity acts as agent and that are deemed under subsection 177(1) or (1.2) to have been made by the charity and not by the other person, or in respect of which the charity has made an election under subsection 177(1.1), the total of all amounts each of which is an amount not included in paragraph (b) that was collected from a person by the charity in the particular reporting period as or on account of tax in circumstances in which the amount was not payable by the person, whether the amount was paid by the person by mistake or otherwise, the total of all amounts each of which is an amount in respect of supplies of real property or capital property made by way of sale by or to the charity that ~~are~~is required under subsection 231(3) or 232(3) to be added in determining the net tax for the particular reporting period, and the amount required under subsection 238.1(4) to be added in determining the net tax for the particular reporting period; and B is the total of all input tax credits of the charity for the particular reporting period and preceding reporting periods in respect of real property acquired by the charity by way of purchase, personal property acquired, imported or brought into a participating province by the charity for use as capital property of the charity, improvements to real property or capital property of the charity, tangible personal property (other than property referred to in subparagraph (ii) or (iii)) that is acquired, imported or brought into a participating province by the charity for the purpose of supply by way of sale and is supplied by a person acting as agent for the charity in circumstances in which subsection 177(1.1) applies, or deemed by subsection 177(1.2) to have been supplied by an auctioneer acting as agent for the charity, and tangible personal property (other than property referred to in subparagraph (ii) or (iii)) deemed under paragraph 180(e) to have been acquired by the charity and under subsection 177(1) or (1.2) to have been supplied by the charity that are claimed in the return under this Division filed for the particular reporting period, 60% of the total of all amounts in respect of specified supplies that may be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(2), or that may be deducted under subsection 234(2) or (3), in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting ~~period,~~period,[Repealed, ~~the~~2007, ~~total~~c. of18, ~~all~~s. amounts that may be deducted by the charity under subsection 226.1(1) in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting period,26] the total of all amounts that may, in determining the net tax for the particular reporting period, be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(1) in respect of specified supplies and that are claimed in the return under this Division filed for that reporting period, the total of all amounts in respect of supplies of real property or capital property made by way of sale by the charity that may be deducted by the charity under subsection 231(1) or 232(3) or section 234 in determining the net tax for the particular reporting period and are claimed in the return under this Division filed for that reporting period, and the total of all amounts each of which is an input tax credit (other than an input tax credit referred to in paragraph (a)) of the charity, for a preceding reporting period in respect of which this subsection did not apply for the purpose of determining the net tax of the charity, that the charity was entitled to include in determining its net tax for that preceding reporting period and that is claimed in the return under this Division filed for the particular reporting period.

Full text

Subject to subsection (7), the net tax for a particular reporting period of a charity that is a registrant is equal to the positive or negative amount determined by the formula A - B where A is the total of 60% of the total of all amounts, each of which is an amount collectible by the charity that, in the particular reporting period, became collectible or was collected before having become collectible, by the charity as or on account of tax in respect of specified supplies made by the charity, the total of all amounts that became collectible and all other amounts collected by the charity in the particular reporting period as or on account of tax in respect of supplies by way of sale of capital property or real property made by the charity, supplies by the charity to which subsection 172(2) or 173(1) applies, and supplies made on behalf of another person for whom the charity acts as agent and that are deemed under subsection 177(1) or (1.2) to have been made by the charity and not by the other person, or in respect of which the charity has made an election under subsection 177(1.1), the total of all amounts each of which is an amount not included in paragraph (b) that was collected from a person by the charity in the particular reporting period as or on account of tax in circumstances in which the amount was not payable by the person, whether the amount was paid by the person by mistake or otherwise, the total of all amounts each of which is an amount in respect of supplies of real property or capital property made by way of sale by or to the charity that is required under subsection 231(3) or 232(3) to be added in determining the net tax for the particular reporting period, and the amount required under subsection 238.1(4) to be added in determining the net tax for the particular reporting period; and B is the total of all input tax credits of the charity for the particular reporting period and preceding reporting periods in respect of real property acquired by the charity by way of purchase, personal property acquired, imported or brought into a participating province by the charity for use as capital property of the charity, improvements to real property or capital property of the charity, tangible personal property (other than property referred to in subparagraph (ii) or (iii)) that is acquired, imported or brought into a participating province by the charity for the purpose of supply by way of sale and is supplied by a person acting as agent for the charity in circumstances in which subsection 177(1.1) applies, or deemed by subsection 177(1.2) to have been supplied by an auctioneer acting as agent for the charity, and tangible personal property (other than property referred to in subparagraph (ii) or (iii)) deemed under paragraph 180(e) to have been acquired by the charity and under subsection 177(1) or (1.2) to have been supplied by the charity that are claimed in the return under this Division filed for the particular reporting period, 60% of the total of all amounts in respect of specified supplies that may be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(2), or that may be deducted under subsection 234(2) or (3), in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting period,[Repealed, 2007, c. 18, s. 26] the total of all amounts that may, in determining the net tax for the particular reporting period, be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(1) in respect of specified supplies and that are claimed in the return under this Division filed for that reporting period, the total of all amounts in respect of supplies of real property or capital property made by way of sale by the charity that may be deducted by the charity under subsection 231(1) or 232(3) or section 234 in determining the net tax for the particular reporting period and are claimed in the return under this Division filed for that reporting period, and the total of all amounts each of which is an input tax credit (other than an input tax credit referred to in paragraph (a)) of the charity, for a preceding reporting period in respect of which this subsection did not apply for the purpose of determining the net tax of the charity, that the charity was entitled to include in determining its net tax for that preceding reporting period and that is claimed in the return under this Division filed for the particular reporting period.
2003-01-01 to 2007-06-22 View Source

Subject to subsection (7), the net tax for a particular reporting period of a charity that is a registrant is equal to the positive or negative amount determined by the formula A - B where A is the total of 60% of the total of all amounts, each of which is an amount collectible by the charity that, in the particular reporting period, became collectible or was collected before having become collectible, by the charity as or on account of tax in respect of specified supplies made by the charity, the total of all amounts that became collectible and all other amounts collected by the charity in the particular reporting period as or on account of tax in respect of supplies by way of sale of capital property or real property made by the charity, supplies by the charity to which subsection 172(2) or 173(1) applies, and supplies made on behalf of another person for whom the charity acts as agent and that are deemed under subsection 177(1) or (1.2) to have been made by the charity and not by the other person, or in respect of which the charity has made an election under subsection 177(1.1), the total of all amounts each of which is an amount not included in paragraph (b) that was collected from a person by the charity in the particular reporting period as or on account of tax in circumstances in which the amount was not payable by the person, whether the amount was paid by the person by mistake or otherwise, all amounts in respect of supplies of real property or capital property made by way of sale to the charity that are required under subsection 231(3) or 232(3) to be added in determining the net tax for the particular reporting period, and the amount required under subsection 238.1(4) to be added in determining the net tax for the particular reporting period; and B is the total of all input tax credits of the charity for the particular reporting period and preceding reporting periods in respect of real property acquired by the charity by way of purchase, personal property acquired, imported or brought into a participating province by the charity for use as capital property of the charity, improvements to real property or capital property of the charity, tangible personal property (other than property referred to in subparagraph (ii) or (iii)) that is acquired, imported or brought into a participating province by the charity for the purpose of supply by way of sale and is supplied by a person acting as agent for the charity in circumstances in which subsection 177(1.1) applies, or deemed by subsection 177(1.2) to have been supplied by an auctioneer acting as agent for the charity, and tangible personal property (other than property referred to in subparagraph (ii) or (iii)) deemed under paragraph 180(e) to have been acquired by the charity and under subsection 177(1) or (1.2) to have been supplied by the charity that are claimed in the return under this Division filed for the particular reporting period, 60% of the total of all amounts in respect of specified supplies that may be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(2), or that may be deducted under subsection 234(2) or (3), in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting period, the total of all amounts that may be deducted by the charity under subsection 226.1(1) in determining the net tax for the particular reporting period and that are claimed in the return under this Division filed for that reporting period, the total of all amounts that may, in determining the net tax for the particular reporting period, be deducted under subsection 232(3) in respect of adjustments, refunds or credits given by the charity under subsection 232(1) in respect of specified supplies and that are claimed in the return under this Division filed for that reporting period, the total of all amounts in respect of supplies of real property or capital property made by way of sale by the charity that may be deducted by the charity under subsection 231(1) or 232(3) or section 234 in determining the net tax for the particular reporting period and are claimed in the return under this Division filed for that reporting period, and the total of all amounts each of which is an input tax credit (other than an input tax credit referred to in paragraph (a)) of the charity, for a preceding reporting period in respect of which this subsection did not apply for the purpose of determining the net tax of the charity, that the charity was entitled to include in determining its net tax for that preceding reporting period and that is claimed in the return under this Division filed for the particular reporting period.