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Marginal note:Definitions

• 42 (1) The following definitions apply in this Part.

  qualifying energy

  qualifying energy  means specified energy, other than qualifying heating oil, that is a specified property or service. (forme d’énergie admissible)

  qualifying heating oil

  qualifying heating oil has the same meaning as in section 1 of the Deduction for Provincial Rebate (GST/HST) Regulations. (huile de chauffage admissible)

• (2) For the purposes of this section and paragraph 46(d), the following are specified classes of specified property or service:

  • [...]

  • (c.1) qualifying heating oil;

• [...]

• (4) For the purposes of paragraph 46(d), the tax recovery rate of a financial institution for a specified class of specified property or service for a reporting period of the financial institution is

  • [...]

  • (a.1) if the specified class is qualifying energy or qualifying heating oil, the percentage that would be the tax recovery rate of the financial institution for qualifying energy for the reporting period if the definition qualifying energy in subsection (1) were read without reference to “other than qualifying heating oil” and if the tax recovery rate were determined under paragraph (b); and

[...]

46 For the purpose of the description of G in subsection 225.2(2) of the Act, the following are prescribed amounts for a particular reporting period in a fiscal year that ends in a taxation year of a selected listed financial institution and for a participating province:

• [...]

• (d) if the participating province is Ontario, British Columbia or Prince Edward Island, the positive or negative amount determined by the formula

  [G₁₉ × G₂₀ × (G₂₁/G₂₂) × G₂₃] – G₂₄

  where

  G₁₉ 

  is

  • (i) if the financial institution is a large business at any time in the particular reporting period, the total of all amounts, each of which is determined for a specified class of specified property or service by the formula

    A × B × C

    where

    C 

    is

    • [...]

    • (B.1) in the case where the specified class is qualifying heating oil and the participating province is Prince Edward Island, 0%,

    • (C) in the case where the specified class is qualifying energy or qualifying heating oil and the participating province is Ontario or British Columbia, the percentage determined by the formula

      [...]

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