Cruiser Remission Order (SI/78-57)

Regulations are current to 2017-10-13

  •  (1) No remission shall be granted to a class A manufacturer pursuant to section 4 unless a claim for remission is made by the manufacturer within three years following the calendar year for which remission is claimed.

  • (2) No remission shall be granted to a class B manufacturer

    • (a) pursuant to section 4, unless a claim for remission is made by the manufacturer within three years following the calendar year for which remission is claimed; or

    • (b) pursuant to section 5, unless the manufacturer makes an election pursuant to section 7 and a claim for remission is made by the manufacturer during the initial production period for that manufacturer.

Election of Initial Production Period

  •  (1) No remission shall be granted pursuant to section 5 to a class B manufacturer unless, prior to the expiration of the manufacturer's initial production period, the manufacturer makes an election in writing addressed to the Minister electing to claim remission for the initial production period.

  • (2) An election made pursuant to subsection (1) may be withdrawn by a class B manufacturer by a notice in writing to that effect, addressed to the Minister, at any time before the expiry of that manufacturer's initial production period.

  • (3) Where an election is withdrawn by a class B manufacturer pursuant to subsection (2), remission shall be determined pursuant to section 4 for each calendar year of the initial production period.

  • SOR/85-113, s. 1.

Remission of Sales Tax

 Remission is hereby granted of the sales tax paid or payable under the Excise Tax Act on each cruiser for which customs duties are remitted by this Order in an amount equal to the difference between the sales tax calculated on the duty paid value of the cruiser and the sales tax calculated on the value for duty of the cruiser.

  • SI/88-17, s. 2(E).

Bond

  •  (1) As a condition precedent to any remission granted pursuant to sections 4 and 8, where duty and sales tax

    • (a) have been paid and the remission is granted in the calendar year for which it is claimed, or

    • (b) have not been paid and the remission is applied for in the calendar year for which it is claimed,

    a class A manufacturer or a class B manufacturer shall, for each calendar year for which he claims remission and to ensure the performance by him of the conditions on which remission is granted under this Order, give to the Minister a guaranteed bond or other security in an amount estimated by the Minister, to be equal to the customs duties and sales tax payable on the imported goods referred to in sections 4 and 8, or $250,000, whichever is the lesser.

  • (2) As a condition precedent to any remission granted pursuant to sections 5 and 8, a class B manufacturer shall, for the initial production period for which he claims remission and to ensure the performance by him of the conditions on which remission is granted under this Order, give to the Minister a guaranteed bond or other security in an amount estimated by the Minister to be equal to the customs duties and sales tax payable on the imported goods referred to in sections 5 and 8, or $500,000, whichever is the lesser.

  • SI/82-33, s. 1;
  • SI/88-17, s. 2(E).

Reports

 A class A manufacturer and a class B manufacturer shall submit to the Minister as a condition of any remission granted under this Order such reports and other information as may be required by the Minister for the due administration of this Order.

 
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