Interest Rates (Excise Tax Act) Regulations (SOR/2006-230)

Marginal note:Definitions

1 The following definitions apply in these Regulations.

Act

Act means the Excise Tax Act. (Loi)

basic rate

basic rate, in respect of a particular quarter, means the rate that is the simple arithmetic mean, expressed as a percentage per year and rounded to the next higher whole percentage where the mean is not a whole percentage, of all amounts each of which is the average equivalent yield, expressed as a percentage per year, of Government of Canada Treasury Bills that mature approximately three months after their date of issue and that are sold at auctions of Government of Canada Treasury Bills during the first month of the quarter preceding the particular quarter. (taux de base)

quarter

quarter means any period of three consecutive months beginning on January 1, April 1, July 1 or October 1. (trimestre)