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

Marginal note:Security generally

• 80.1 (1) The Minister may, if he considers it advisable in a particular case, accept security for the payment of any tax, penalty, interest or other sum that is or may become payable under this Act.

• Marginal note:Security on objection or appeal

  (2) Where a person is making an objection to or appealing from an assessment, the Minister shall accept adequate security furnished by or on behalf of that person for the payment of any tax, penalty, interest or other sum that is in controversy.

• Marginal note:Surrender of security

  (3) Where a person who has furnished security, or on whose behalf security has been furnished, under this section requests in writing that the Minister surrender the security or any part thereof, the Minister shall surrender the security to the extent that the value thereof exceeds the amount, at the time the request is received by the Minister, of any tax, penalty, interest or other sum for the payment of which the security was furnished.

• Marginal note:Discharge of security

  (4) The Minister may discharge in writing any security accepted by the Minister pursuant to this section.

Marginal note:Certificate before distribution

• 81. (1) Every executor, liquidator of a succession, administrator, assignee, liquidator or other like person, other than a trustee in bankruptcy, shall, before distributing any assets under his control in that capacity, obtain a certificate from the Minister certifying that no tax, penalty, interest or other sum under this Act, other than Part I, chargeable against or payable by that person in that capacity or chargeable against or payable in respect of those assets, remains unpaid or that security for the payment thereof has, in accordance with section 80.1, been accepted by the Minister.

• Marginal note:Personal liability

  (2) Any person who distributes assets without a certificate as required by subsection (1) is personally liable to pay to Her Majesty an amount equal to the lesser of

  • (a) the value of the assets so distributed, and

  • (b) the amount of any tax, penalty, interest or other sum that remains unpaid and for the payment of which security has not been furnished to the Minister.

Marginal note:Assessment

• 81.1 (1) The Minister may, in respect of any matter, assess a person for any tax, penalty, interest or other sum payable by that person under this Act and may, notwithstanding any previous assessment covering, in whole or in part, the same matter, make such additional assessments as the circumstances require.

• Marginal note:Reassessment

  (2) The Minister may, in respect of any matter covered by an assessment, vary the assessment or reassess the person assessed.

• Marginal note:Completion of assessment

  (3) An assessment shall be completed with all due dispatch and may be performed in such manner and form and by such procedure as the Minister considers appropriate.

• Marginal note:Minister not bound

  (4) The Minister is not bound by any return, application or information supplied by or on behalf of any person and may make an assessment, notwithstanding any return, application or information so supplied or that no return, application or information has been supplied.

• Marginal note:Determination of refunds

  (5) In making an assessment, the Minister may determine whether an amount is payable to the person being assessed pursuant to any of sections 68 to 68.29.

• Marginal note:Presumption

  (6) For the purposes of determining, in making an assessment, whether an amount is payable to the person being assessed pursuant to any of sections 68 to 68.29, the person is deemed to have duly made an application under the section on the day on which the notice of assessment is sent to him.

• Marginal note:Determination of credits

  (7) In making an assessment, the Minister may determine whether a credit may be allowed to the person being assessed pursuant to subsections (8) to (10).

• Marginal note:When credit may be allowed

  (8) Where an amount would be payable to the person being assessed pursuant to any of sections 68 to 68.29

  • (a) if that person had duly made an application under the section on the day on which the notice of assessment is sent to him, and

  • (b) if the reference in the section to “two years” were read as a reference to “four years”,

  a credit in that amount may be allowed to that person.

• Marginal note:Maximum credits allowable

  (9) The aggregate of the credits that may be allowed to the person being assessed shall not exceed the aggregate of the taxes, interest, penalty or other sums, if any, remaining unpaid by that person for the period beginning four years before the day on which the notice of assessment is sent to him and ending immediately before two years before that day.

• Marginal note:Restriction

  (10) No credit may be allowed for any amount that the Minister, pursuant to subsection (5), determines is payable to the person being assessed.