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Marginal note:Instalment base following harmonization

• 58.1 (1) Despite subsection 237(2) of the Act, if a registrant (other than a selected listed financial institution) to which subsection 237(1) of the Act applies is resident in a specified province and is not resident in Nova Scotia, New Brunswick or Newfoundland and Labrador and a reporting period of the registrant begins in 2010, for the purpose of determining the amount of instalment payments under subsection 237(1) of the Act, if any, that become payable after the first fiscal quarter of the registrant beginning on or after July 1, 2010, the registrant’s instalment base for the reporting period is equal to the lesser of

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• Marginal note:Instalment base following harmonization

  (2) Despite subsection 237(2) of the Act, if a registrant (other than a selected listed financial institution) to which subsection 237(1) of the Act applies is resident in a specified province and in Nova Scotia, New Brunswick or Newfoundland and Labrador and a reporting period of the registrant begins in 2010, for the purpose of determining the amount of instalment payments under subsection 237(1) of the Act, if any, that become payable after the first fiscal quarter of the registrant beginning on or after July 1, 2010, the registrant’s instalment base for the reporting period is equal to the amount determined under paragraph 237(2)(a) of the Act.

• Marginal note:Selected listed financial institutions — instalments in transitional year

  (3) Despite subsection 237(1) of the Act, if a particular reporting period of a selected listed financial institution (other than an investment plan, as defined in subsection 1(1) of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations) ends in a particular fiscal year ending in a taxation year of the financial institution and the particular fiscal year begins before July 1, 2010 and ends on or after that day, the instalment to be paid under that subsection within one month after the end of each fiscal quarter ending on or after that day in the particular reporting period is the amount determined under whichever of the following paragraphs the financial institution has elected in prescribed form to determine the instalments for those fiscal quarters under:

  • [...]

  • (c) the lesser of

    • [...]

    • (ii) the amount determined by the formula

      A + B + (C/4)

      where

      A 

      is the total of all amounts, each of which is determined, for a harmonized province, by the formula

      [[(D – E) × F × (G/H) × (I/365)] – J]/K

      where

      J 

      is the total of

      • (A) all tax (other than an amount of tax that is prescribed under any of section 40, paragraph 55(2)(a) and section 67 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations) under subsection 165(2) of the Act in respect of supplies made in the harmonized province to the financial institution or under section 212.1 of the Act in respect of goods imported by the financial institution for use in the harmonized province that became payable by the financial institution during the fiscal quarter or that was paid by the financial institution during the fiscal quarter without having become payable, and

      • (B) all amounts each of which is an amount, in respect of a supply made during the fiscal quarter of property or a service to which an election made by the financial institution and another person under subsection 225.2(4) of the Act applies, equal to tax payable by the other person under any of subsection 165(2), sections 212.1 or 218.1 or Division IV.1 of Part IX of the Act that is included in the cost to the other person of supplying the property or service to the financial institution, and

      B 

      is the total of all amounts that became collectible and all other amounts collected by the financial institution in the fiscal quarter as or on account of tax under subsection 165(2) of the Act, and

  • (d) the amount determined by the formula

    A + B + (C/4)

    where

    A 

    is the total of all amounts, each of which is determined, for a harmonized province, by the formula

    [[(D – E) × F × (G/H) × (I/365)] – J]/K

    where

    J 

    is the total of

    • (i) all tax (other than an amount of tax that is prescribed under any of section 40, paragraph 55(2)(a), and section 67 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations) under subsection 165(2) of the Act in respect of supplies made in the harmonized province to the financial institution or under section 212.1 of the Act in respect of goods imported by the financial institution for use in the harmonized province that became payable by the financial institution during the fiscal quarter or that was paid by the financial institution during the fiscal quarter without having become payable, and

    • (ii) all amounts each of which is an amount, in respect of a supply made during the fiscal quarter of property or a service to which an election made by the financial institution and another person under subsection 225.2(4) of the Act applies, equal to tax payable by the other person under any of subsection 165(2), sections 212.1 or 218.1 or Division IV.1 of Part IX of the Act that is included in the cost to the other person of supplying the property or service to the financial institution, and

    B 

    is the total of all amounts that became collectible and all other amounts collected by the financial institution in the fiscal quarter as or on account of tax under subsection 165(2) of the Act, and

[...]

Marginal note:Prescribed time

• 30 (1) If a person acquires or imports a specified property or service or brings it into a specified province and tax under subsection 165(2) or section 212.1 or 218.1 of the Act or Division IV.1 of Part IX of the Act in respect of the supply, importation or bringing in becomes payable by the person, is paid by the person without having become payable or would have become payable by the person if the rules described in paragraphs 29(1)(a) to (g) applied in respect of that supply, importation or bringing in or if subsection 29(2) applied in respect of that bringing in, for the purposes of subsection 236.01(2) of the Act, the prescribed time in respect of a specified provincial input tax credit of the person in respect of the specified property or service is

  • [...]

  • (c) in the case where that tax would have only become payable by the person if the rules described in paragraphs 29(1)(a) to (g) applied in respect of that supply, importation or bringing in or if subsection 29(2) applied in respect of that bringing in, the day that is

    • (i) the particular day on which that tax would have become payable by the person if

      • [...]

      • (B) the reporting period of the person is a fiscal quarter and either

        • (I) the particular day is in a fiscal month that is not the last fiscal month of the fiscal quarter, or

        • (II) the particular day is in the last fiscal month of the fiscal quarter and the person has added an amount to its net tax in respect of the specified provincial input tax credit for the reporting period of the person that includes the particular day, or

  • (d) in any other case, the earlier of

    • (i) the day that is

      • (A) the particular day on which that tax becomes payable by the person if

        • [...]

        • (III) the reporting period of the person is a fiscal quarter and either

          1 the particular day is in a fiscal month that is not the last fiscal month of the fiscal quarter, or

          2 the particular day is in the last fiscal month of the fiscal quarter and the person has added an amount to its net tax in respect of the specified provincial input tax credit for the reporting period of the person that includes the particular day, or

    • (ii) the day that is the later of July 1, 2010 and

      • (A) the particular day on which that tax is paid by the person if

        • [...]

        • (III) the reporting period of the person is a fiscal quarter and either

          1 the particular day is in a fiscal month that is not the last fiscal month of the fiscal quarter, or

          2 the particular day is in the last fiscal month of the fiscal quarter and the person has added an amount to its net tax in respect of the specified provincial input tax credit for the reporting period of the person that includes the particular day, or

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58.4 Any person that, immediately before April 1, 2013, is resident in Prince Edward Island and registered under Subdivision d of Division V of Part IX of the Act may, subject to section 250 of the Act,

• (a) if the reporting period of the person immediately before April 1, 2013 is a fiscal quarter, make an election under section 246 of the Act to have reporting periods that are fiscal months of the person to take effect, despite paragraph 246(1)(a) of the Act, on the first day of any fiscal quarter of the person that begins before April 1, 2014; and

• (b) if the reporting period of the person immediately before April 1, 2013 is a fiscal year,

  • [...]

  • (ii) make an election under section 247 of the Act to have reporting periods that are fiscal quarters of the person to take effect, despite paragraph 247(1)(a) of the Act, on the first day of any fiscal quarter of the person that begins before April 1, 2014.

[...]

57 Any person that, immediately before July 1, 2010, is resident in a specified province and registered under Subdivision d of Division V of Part IX of the Act may, subject to section 250 of the Act,

• (a) if the reporting period of the person immediately before July 1, 2010 is a fiscal quarter, make an election under section 246 of the Act to have reporting periods that are fiscal months of the person to take effect, despite paragraph 246(1)(a) of the Act, on the first day of any fiscal quarter of the person that begins before July 1, 2011; and

• (b) if the reporting period of the person immediately before July 1, 2010 is a fiscal year,

  • [...]

  • (ii) make an election under section 247 of the Act to have reporting periods that are fiscal quarters of the person to take effect, despite paragraph 247(1)(a) of the Act, on the first day of any fiscal quarter of the person that begins before July 1, 2011.

Marginal note:Effect of election

• 36 (1) For the purposes of paragraph 236.01(4)(a) of the Act and despite sections 31 and 32, if an election made under subsection 35(1) by a person is in effect during an instalment period, the amount to be added to the net tax of the person for each particular reporting period of the person during which the person is a large business that ends at a time in the instalment period when the election is in effect is the total of all amounts each of which is determined, for a specified provincial input tax credit, by the formula

  (A/B) × C × D

  where

  C 

  is

  • [...]

  • (c) if the particular reporting period is a fiscal quarter, 3; and

[...]