Excise Tax Act (R.S.C., 1985, c. E-15)

Marginal note:When consideration due

• 152 (1) For the purposes of this Part, the consideration, or a part thereof, for a taxable supply shall be deemed to become due on the earliest of

  • (a) the earlier of the day the supplier first issues an invoice in respect of the supply for that consideration or part and the date of that invoice,

  • (b) the day the supplier would have, but for an undue delay, issued an invoice in respect of the supply for that consideration or part, and

  • (c) the day the recipient is required to pay that consideration or part to the supplier pursuant to an agreement in writing.

• Marginal note:Consideration under leases, etc.

  (2) Notwithstanding subsection (1), where property is supplied by way of lease, licence or similar arrangement under an agreement in writing, the consideration, or any part thereof, for the supply shall, for the purposes of this Part, be deemed to become due on the day the recipient is required to pay the consideration or part to the supplier pursuant to the agreement.

• Marginal note:Payment

  (3) For the purposes of this Part, where consideration that is not money is given or required to be given, the consideration that is given or required to be given shall be deemed to be paid or required to be paid, as the case may be.