Excise Tax Act (R.S.C., 1985, c. E-15)

Act current to 2014-12-08 and last amended on 2014-11-01. Previous Versions

Marginal note:Basic tax content of property of a municipality
  •  (1) In the case of property of a municipality that is not a listed financial institution, the basic tax content of the property at any time after January 30, 2004 shall be determined by applying the following rules:

    • (a) in determining the value of A in paragraph (a) of the definition “basic tax content” in subsection 123(1), an amount of tax described by any of subparagraphs (i) to (v) of the description of A may be included only if the tax

      • (i) became payable, or would have become payable in the absence of the circumstances described in subparagraph (iii) or (iv) of that description, after January 2004 under subsection 165(1) or section 212 or 218 in respect of the property, or

      • (ii) was payable, or would have been payable in the absence of the circumstances described in subparagraph (iii) or (iv) of that description, under subsection 165(2), 212.1(2) or 218.1(1) or Division IV.1 in respect of the property;

    • (b) in determining the value of B in paragraph (a) of the definition “basic tax content” in subsection 123(1), any reference in the description of B to tax referred to in a subparagraph of the description of A shall be read to include an amount of tax only if the tax is included in the determination of the value of A in accordance with paragraph (a) of this subsection;

    • (c) in determining the value of J in paragraph (b) of the definition “basic tax content” in subsection 123(1),

      • (i) paragraphs (a) and (b) of this subsection shall be applied in determining the basic tax content referred to in subparagraph (i) of the description of J, and

      • (ii) an amount of tax described by any of subparagraphs (iii) to (vi) of the description of J may be included only if the tax

        • (A) became payable, or would have become payable in the absence of the circumstances described in subparagraph (iv) or (v) of that description, after January 2004 under subsection 165(1) or section 212 or 218 in respect of the improvements to the property, or

        • (B) was payable, or would have been payable in the absence of the circumstances described in subparagraph (iv) or (v) of that description, under subsection 165(2), 212.1(2) or 218.1(1) or Division IV.1 in respect of improvements to the property; and

    • (d) in determining the value of K in paragraph (b) of the definition “basic tax content” in subsection 123(1), any reference in the description of K to tax referred to in a subparagraph of the description of J shall be read to include an amount of tax only if the tax is included in the determination of the value of J in accordance with paragraph (c) of this subsection.

  • Marginal note:Application to designated municipality

    (2) In subsection (1), “municipality” includes a person designated to be a municipality for the purposes of section 259 and, in the case of a person so designated, “property” means property that, on January 31, 2004, was property of the person and was consumed, used or supplied by the person otherwise than exclusively in the course of activities that are not activities specified in the designation.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 1993, c. 27, s. 64;
  • 1997, c. 10, s. 188;
  • 2004, c. 22, s. 32.