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1 The following definitions apply in these Regulations.

qualifying housing supply

qualifying housing supply  means a supply of a residential complex

• (a) in respect of which no tax is payable under subsection 165(2) of the Act as a consequence of subsection 51(1) or (2), 52(1) or (2), 53(1) or (2), 58.04(1) or (2), 58.05(1) or (2) or 58.06(1) or (2) of the New Harmonized Value-added Tax System Regulations, No. 2;

• (b) in respect of which section 2 of the Nova Scotia HST Regulations, 2010 does not apply as a consequence of paragraph 19(3)(h) or (i) of those Regulations;

• (c) in respect of which section 33.4 of the New Harmonized Value-added Tax System Regulations does not apply but would have applied if

  • (i) in the case of a supply deemed to have been made under subsection 191(1) of the Act as a consequence of the builder of the complex having given possession or use of the complex under an agreement referred to in subparagraph 191(1)(b)(ii) of the Act, the agreement had been entered into after March 30, 2016, or

• (d) in respect of which section 33.5 of the New Harmonized Value-added Tax System Regulations does not apply but would have applied if

  • (i) in the case of a supply deemed to have been made under subsection 191(1) of the Act as a consequence of the builder of the complex having given possession or use of the complex under an agreement referred to in subparagraph 191(1)(b)(ii) of the Act, the agreement had been entered into after May 3, 2016, or

• (e) made in Prince Edward Island and in respect of which tax under subsection 165(2) of the Act is payable at the rate of 9% but would have been payable at the rate of 10% if

  • (i) in the case of a supply deemed to have been made under subsection 191(1) of the Act as a consequence of the builder of the complex having given possession or use of the complex under an agreement referred to in subparagraph 191(1)(b)(ii) of the Act, the agreement had been entered into after June 16, 2016, or

[...]

Marginal note:Transitional new housing rebates

16 For the purposes of section 284.01 of the Act, if a person claims, in accordance with subsection 228(6) of the Act, an amount in respect of a transitional new housing rebate that is assigned to the person or to which the person is entitled in a specified return for a reporting period of the person, that amount is a prescribed amount and, if the person reports that amount as a deduction in determining the net tax of the person for the reporting period and as a consequence of that reporting fails to report that amount as required, the penalty under section 284.01 of the Act in respect of that prescribed amount is $250.

Marginal note:Penalty amount — section 14

15 The penalty under section 284.01 of the Act in respect of the particular amount that is in respect of a specified return for a particular reporting period of a person and that is prescribed, for the purposes of that section, by section 14 is, if the person failed to report the particular amount as and when required, equal to

• (a) if the person does not transmit, in accordance with subsection 254(5), 254.1(5) or 256.21(4) of the Act, as the case requires, any of the applications referred to in subsection 234(1) of the Act in respect of the rebates to the Minister, the total of

  • (i) an amount (in this section referred to as the “base penalty”) equal to 5% of the particular amount, and

2 For the purposes of subsection 278.1(2.1) of the Act, a person (other than a selected listed financial institution) that is a registrant is a prescribed person in respect of a reporting period of the person that is in a fiscal year of the person if

• (a) the person is not a charity and the threshold amount of the person for the fiscal year, as determined under subsection 249(1) of the Act, exceeds $1,500,000;

• (b) the person is a large business (as defined in subsection 236.01(1) of the Act) at any time in the reporting period or in a preceding reporting period of the person in the fiscal year;

• (c) the person is a builder that

  • [...]

  • (iii) is deemed for the purposes of the Act to have collected, at any time in the reporting period, tax as a consequence of paragraph 51(1)(e), 52(1)(e), 53(1)(e), 58.04(1)(e), 58.05(1)(e) or 58.06(1)(e) of the New Harmonized Value-added Tax System Regulations, No. 2; or

[...]

11 The penalty under section 284.01 of the Act in respect of a particular amount that is in respect of a specified return for a particular reporting period of a person and that is prescribed, for the purposes of that section, by any of sections 8 to 10 is equal to the sum of

• (a) an amount (in this section referred to as the “base penalty”) equal to 5% of the absolute value of the positive or negative amount determined by the formula

  A - B

  where

  B 

  is

  • (i) if the person failed to report the particular amount as and when required, zero, or