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• 21.2 (1) A registrant is a prescribed registrant who may make an election, to take effect on the first day of a reporting period of the registrant, to determine the net tax of the registrant in accordance with this Part if

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  • (b) if the fiscal quarter of the registrant that includes the reporting 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 registrant who has elected to determine the net tax of the registrant in accordance with this Part ceases to be a registrant who may so determine that net tax at the earliest of

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

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

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  • (d) if the registrant is a public service body and the purchase threshold for a fiscal year of the registrant exceeds $4,000,000, the end of the first fiscal quarter in that fiscal year, and

  • (e) if the registrant becomes a person described in paragraph 149(1)(a) of the Act during a fiscal quarter of the registrant, the end of that fiscal quarter.

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• 15 (1) In this Part,

  specified registrant

  specified registrant , at any time, means a registrant who

  • (a) throughout the four fiscal quarters of the registrant immediately preceding the fiscal quarter of the registrant that includes that time,

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  • (c) is not a qualifying non-profit organization, within the meaning of section 259 of the Act,

    • (i) at the beginning of the reporting period of the registrant that includes that time, where that reporting period is the fiscal month or fiscal quarter of the registrant, and

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• (3) Subject to subsection (4), for the purposes of this Part, the threshold period for a particular reporting period of a registrant is

  • (a) where an election by the registrant to determine the net tax of the registrant in accordance with this Part becomes effective in the fiscal year of the registrant that includes the particular reporting period, any period that consists of four fiscal quarters of the registrant and ends in one of the last two fiscal quarters of the registrant immediately preceding the fiscal quarter of the registrant in which the election becomes effective; or

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• (6) Where, at any time in the first fiscal quarter in a fiscal year of a registrant, the registrant ceases to be a registrant who may determine the net tax of the registrant in accordance with this Part or a revocation of an election by the registrant becomes effective, the quick-method rate for reporting periods of the registrant ending in that fiscal quarter is the quick-method rate for the reporting period of the registrant ending immediately before the beginning of that fiscal quarter.

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• (2) For the purposes of this Part, the threshold amount for a particular fiscal quarter in a particular fiscal year of a registrant is equal to the total of

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  • (b) the total of all amounts each of which is an amount in respect of a person (in this paragraph referred to as the “associate”) who was associated with the registrant at the beginning of the particular fiscal quarter 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 of the registrant before the beginning of the particular fiscal quarter of the registrant.

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• (2) A registrant who has filed an election to determine the net tax of the registrant in accordance with this Part ceases to be a registrant who may so determine that net tax at the end of the earliest of

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  • (c) the first fiscal quarter of the registrant that includes a reporting period of the registrant for which the total threshold amount exceeds $400,000, and

  • (d) the fiscal quarter of the registrant immediately before the first fiscal quarter of the registrant that includes a reporting period of the registrant in which the registrant ceases to be a specified registrant.

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