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• 7 (1) A person is, on the first day of a claim period of the person, a prescribed person for the purpose of subsection 259(12) of the Act where

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  • (b) if the person’s fiscal quarter that includes the claim period is not the first fiscal quarter in the fiscal year, the threshold amount for the fiscal quarter does not exceed $1,000,000;

• (2) A person ceases to be a prescribed person for the purpose of subsection 259(12) of the Act at the earliest of

  • (a) if the threshold amount for a fiscal year of the person exceeds $1,000,000, the end of the first fiscal quarter in that fiscal year,

  • (b) if the threshold amount for the second or third fiscal quarter in a fiscal year of the person exceeds $1,000,000, the end of the first fiscal quarter in that year for which the threshold amount exceeds $1,000,000, and

  • (c) if the purchase threshold for a fiscal year of the person exceeds $4,000,000, the end of the first fiscal quarter in that fiscal year.

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• (2) For the purpose of section 7, the threshold amount for a particular fiscal quarter in a particular fiscal year of a person is equal to the total of

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  • (b) all amounts each of which is an amount in respect of another person (in this paragraph referred to as the “associate”) who was associated with the person at the beginning of the particular fiscal quarter and is equal to the total of all consideration (other than consideration referred to in section 167.1 of the Act that is attributable to goodwill of a business) for taxable supplies (other than supplies of financial services and supplies by way of sale of real property that is capital property of the associate) made by the associate that became due, or was paid without having become due, to the associate in the fiscal quarters of the associate that end in the particular fiscal year before the beginning of the particular fiscal quarter.

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