Versions of s. 231(3)

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.

2007-06-22 to present available View Source

If ~~a person recovers~~ all or part of a bad debt in respect of which ~~the~~a person has made a deduction under ~~subsection~~this ~~(1),~~section is recovered at any time, the person shall, in determining the person’s net tax for the ~~person’s~~ reporting period inthat ~~which the bad debt or~~includes that ~~part is recovered,~~time, add the amount determined by the formula A × B/C where A is the amount of the bad debt recovered byat ~~the~~that ~~person;~~time; B is the tax ~~payable~~ in respect of the supply to which the bad debt relates; and C is the total of the consideration, tax and applicable provincial tax ~~payable~~ in respect of the supply.

Full text

If all or part of a bad debt in respect of which a person has made a deduction under this section is recovered at any time, the person shall, in determining the person’s net tax for the reporting period that includes that time, add the amount determined by the formula A × B/C where A is the amount of the bad debt recovered at that time; B is the tax in respect of the supply to which the bad debt relates; and C is the total of the consideration, tax and applicable provincial tax in respect of the supply.
2003-01-01 to 2007-06-22 View Source

If a person recovers all or part of a bad debt in respect of which the person has made a deduction under subsection (1), the person shall, in determining the net tax for the person’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 of the bad debt recovered by the person; B is the tax payable in respect of the supply to which the bad debt relates; and C is the total of the consideration, tax and applicable provincial tax payable in respect of the supply.