PART IIPart II Licence Fee
X/Y x Z
- is the licensee’s fee revenues for the return year terminating during the previous calendar year, less that licensee’s exemption level for that return year;
- is the aggregate fee revenues for the return year terminating during the previous calendar year of all licensees whose fee revenues exceed the applicable exemption levels, less the aggregate exemption level for all those licensees for that return year; and
- is the lesser of
(2) Commencing in 2011, the amount set out in paragraph (a) of the description of Z in subsection (1) shall be adjusted annually on a compound basis in accordance with the percentage increase or decrease, as the case may be, to the Consumer Price Index for the calendar year prior to the year of the adjustment. The Consumer Price Index is the annual average all-items Consumer Price Index for Canada (not seasonally adjusted) that is published by Statistics Canada.
(4) The Commission shall invoice a licensee for the Part II licence fee no later than November 1 of the year in which the fee is due.
(5) For the purposes of this section, the reference to “most recently completed return year” in paragraph (b) of the definition fee revenue in section 1 shall be read as a reference to the “return year terminating during the previous calendar year”.
- SOR/2010-157, s. 2.
Coming into Force
13 These Regulations come into force on April 1, 1997.
- Date modified: