General Provisions Concerning Charges and Other Amounts Payable (continued)
Returns and Payment of Charges
Marginal note:Monthly returns
26 A person who is, at any time during a particular month, registered under section 23 or required to be registered under section 22 — or a specified person as defined in subsection 18(1) by whom a charge under section 18 becomes payable at any time during a particular month — shall, on or before the last day of the month following the particular month,
(a) file with the Minister a return for that month in the prescribed form and manner and containing the prescribed information;
(b) calculate in the return the total amount of the charges payable for that month; and
(c) pay that amount, if any, to the Receiver General.
Marginal note:Large payments
27 Every person who is required under this Act to pay an amount to the Receiver General shall, if the amount is $50,000 or more, make the payment to the account of the Receiver General at
(a) a bank;
(b) a credit union;
(c) a corporation authorized under the laws of Canada or a province to carry on the business of offering its services as a trustee to the public; or
(d) a corporation authorized under the laws of Canada or a province to accept deposits from the public and that carries on the business of lending money on the security of real property or immovables or investing in mortgages on real property or hypothecs on immovables.
Marginal note:Small amounts owing
28 (1) If, at any time, the total of all unpaid amounts owing by a person to Her Majesty in right of Canada under this Act does not exceed two dollars, the amount owing by the person is deemed to be nil.
Marginal note:Small amounts payable
(2) If, at any time, the total of all amounts payable by the Minister to a person under this Act does not exceed two dollars, the Minister may apply those amounts against any amount owing, at that time, by the person to Her Majesty in right of Canada. However, if the person, at that time, does not owe any amount to Her Majesty in right of Canada, those amounts payable are deemed to be nil.
Marginal note:Set-off of refunds
29 If, at any time, a person files a return in which the person reports an amount that the person is required to pay under this Act and the person claims a refund payable to the person under this Act at that time, in the return or in another return, or in a separate application filed under this Act with the return, the person is deemed to have paid at that time, and the Minister is deemed to have refunded at that time, an amount equal to the lesser of the amount required to be paid and the amount of the refund.
Marginal note:Authority for separate returns
30 (1) A person who engages in one or more activities in separate branches or divisions may file an application, in the prescribed form and manner, with the Minister for authority to file separate returns and applications for refunds under this Act in respect of a branch or division specified in the application.
Marginal note:Authorization by Minister
(2) On receipt of the application, the Minister may, in writing, authorize the person to file separate returns and applications for refunds in relation to the specified branch or division, subject to any conditions that the Minister may at any time impose, if the Minister is satisfied that
Marginal note:Revocation of authorization
(3) The Minister may revoke an authorization if
(a) the person, in writing, requests the Minister to revoke the authorization;
(b) the person fails to comply with any condition of the authorization or with any provision of this Act;
(c) the Minister is no longer satisfied that the requirements of subsection (2) are met; or
(d) the Minister considers that the authorization is no longer required.
Marginal note:Notice of revocation
(4) If the Minister revokes the authorization of a person, the Minister shall notify the person in writing of the revocation and the effective date of the revocation.
Marginal note:Execution of returns, etc.
31 A return or other document made under this Act by a person that is not an individual shall be signed on behalf of the person by an individual duly authorized to do so by the person or the governing body of the person. If the person is a corporation or an association that has duly elected or appointed officers, the president, vice-president, secretary and treasurer, or other equivalent officers, of the corporation or association, are deemed to be so duly authorized.
Marginal note:Extension of time
Marginal note:Effect of extension
(2) If the Minister extends the time within which a person is required to file a return or provide information under subsection (1),
(a) the return shall be filed, or the information shall be provided, within the time so extended;
(b) any amount payable that the person is required to report in the return shall be paid within the time so extended;
(c) any interest payable under section 34 on the amount referred to in paragraph (b) shall be calculated as though the amount were required to be paid on the day on which the extended time expires; and
(d) any penalty payable under section 64 in respect of the return shall be calculated as though the return were required to be filed on the day on which the extended time expires.
Marginal note:Demand for return
33 The Minister may, by a demand served personally or sent by mail, require a person to file, within any reasonable time that may be stipulated in the demand, a return under this Act for any reporting period that is designated in the demand.
Marginal note:Compound interest on amounts not paid when required
34 (1) If a person fails to pay an amount to the Receiver General as and when required under this Act, the person shall pay to the Receiver General interest on the amount. The interest shall be compounded daily at the specified rate and computed for the period beginning on the first day after the day on or before which the amount was required to be paid and ending on the day on which the amount is paid.
Marginal note:Payment of interest that is compounded
(2) For the purposes of subsection (1), interest that is compounded on a particular day on an unpaid amount of a person is deemed to be required to be paid by the person to the Receiver General at the end of the particular day, and, if the person has not paid the interest so computed by the end of the day after the particular day, the interest shall be added to the unpaid amount at the end of the particular day.
Marginal note:Period when interest not payable
(3) Despite any other provision of this Act, if the Minister notifies a person that the person is required to pay a specified amount under this Act and the person pays the specified amount in full before the end of the period that the Minister specifies in the notice, interest is not payable on the specified amount for the period.
Marginal note:Interest and penalty amounts of $25 or less
(4) If, at any time, a person pays an amount not less than the total of all amounts, other than interest and a penalty payable under section 64, owing at that time to Her Majesty in right of Canada under this Act for a reporting period and the total amount of interest and penalty payable by the person under this Act for that reporting period is not more than $25, the Minister may cancel the interest and penalty.
Marginal note:Compound interest on amounts owed by Her Majesty
35 Interest shall be compounded daily at the specified rate on amounts owed by Her Majesty in right of Canada to a person and computed for the period beginning on the first day after the day on which the amount is required to be paid by Her Majesty in right of Canada and ending on the day on which the amount is paid or is applied against an amount owed by the person to Her Majesty in right of Canada.
Marginal note:Application of interest provisions if Act amended
36 For greater certainty, if a provision of an Act amends this Act and provides that the amendment comes into force on, or applies as of, a particular day that is before the day on which that Act is assented to, the provisions of this Act that relate to the calculation and payment of interest apply in respect of the amendment as though that Act had been assented to on the particular day.
Marginal note:Waiving or cancelling interest or penalty
37 (1) The Minister may, on or before the day that is 10 calendar years after the end of a reporting period, or on application by a person on or before that day, waive or cancel any amount otherwise payable to the Receiver General under this Act that is interest or a penalty payable under section 64 on an amount that is required to be paid by the person under this Act in respect of that reporting period.
Marginal note:Interest if amounts cancelled
(2) If a person has paid an amount of interest or penalty and the Minister cancels that amount under subsection (1), the Minister shall pay interest on the amount paid by the person beginning on the day that is 30 days after the day on which the Minister received a request in a manner satisfactory to the Minister to apply that subsection and ending on the day on which the amount is refunded or applied against an amount owed by the person to Her Majesty in right of Canada.
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