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Excise Tax Act

Version of section 79.01 from 2003-01-01 to 2007-03-31:

Marginal note:Transition to reporting based on fiscal months

 For the purposes of sections 78, 79 and 79.1, if the period that includes July 1, 2003 for which a person would have been required to file a return under section 78 as it read before that day (which period is referred to in this section as the pre-existing accounting period) overlaps one or more fiscal months of the person, including any part of a fiscal month, the following rules apply:

  • (a) the person shall file a return and pay any amounts owing in respect of the pre-existing accounting period in the same manner and at the same time as the person would have been required to under section 78 as it read before that day; and

  • (b) in the case of a particular fiscal month that includes the last day of the pre-existing accounting period, the portion of that particular fiscal month after that last day is deemed to be part of the first fiscal month following the particular fiscal month and, for this purpose, that following fiscal month may exceed 35 days in length.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • 2003, c. 15, s. 100

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