Excise Tax Act

Marginal note:Payment of net tax refund

• 229 (1) Where a net tax refund payable to a person is claimed in a return filed under this Division by the person, the Minister shall pay the refund to the person with all due dispatch after the return is filed.

• Marginal note:Restriction

  (2) A net tax refund for a reporting period of a person shall not be paid to the person under subsection (1) until such time as

  • (a) in the case of an interim net tax refund, all returns required to be filed under this Division by the person for all preceding reporting periods have been filed with the Minister; and

  • (b) in any other case, all returns required to be filed under this Division by the person for the reporting period and all preceding reporting periods have been filed with the Minister.

• Marginal note:Interest on refund

  (3) If a net tax refund for a reporting period of a person is paid to the person under subsection (1), interest at the prescribed rate shall be paid to the person on the net tax refund for the period beginning on the day that is 30 days after the later of the day the return in which the refund is claimed is filed with the Minister and the day following the last day of the reporting period and ending on the day the refund is paid.

• Marginal note:Minimum interest

  (4) Interest of less than one dollar shall not be paid under subsection (3).