Electronic Filing and Provision of Information (GST/HST) Regulations
Marginal note:Recaptured input tax credits — addition
5 (1) For the purposes of this section, if, under subsection 236.01(2) of the Act, a person is required, in determining its net tax for a reporting period of the person, to add all or part of a specified provincial input tax credit (as defined in subsection 236.01(1) of the Act) of the person in respect of property or a service,
(a) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Ontario or that relate to a service acquired for consumption or use in Ontario is a specified amount in respect of a specified return for the reporting period;
(b) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, British Columbia or that relate to a service acquired for consumption or use in British Columbia is a specified amount in respect of a specified return for the reporting period; and
(c) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Prince Edward Island or that relate to a service acquired for consumption or use in Prince Edward Island is a specified amount in respect of a specified return for the reporting period.
Marginal note:Recaptured input tax credits — deduction
(2) For the purposes of this section, if, under subsection 236.01(3) of the Act, a person is permitted, in determining its net tax for a reporting period of the person, to deduct all or part of a specified provincial input tax credit (as defined in subsection 236.01(1) of the Act) of the person in respect of property or a service,
(a) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Ontario or that relate to a service acquired for consumption or use in Ontario is a specified amount in respect of a specified return for the reporting period;
(b) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, British Columbia or that relate to a service acquired for consumption or use in British Columbia is a specified amount in respect of a specified return for the reporting period; and
(c) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Prince Edward Island or that relate to a service acquired for consumption or use in Prince Edward Island is a specified amount in respect of a specified return for the reporting period.
Marginal note:Prescribed amounts
(3) For the purposes of section 284.01 of the Act, the following amounts are prescribed amounts in respect of a specified return for a reporting period of a person:
(a) the positive or negative amount determined by the formula
A - B
where
- A
- is the specified amount referred to in paragraph 5(1)(a) in respect of the specified return for the reporting period, and
- B
- is the specified amount referred to in paragraph 5(2)(a) in respect of the specified return for the reporting period;
(b) the positive or negative amount determined by the formula
A - B
where
- A
- is the specified amount referred to in paragraph 5(1)(b) in respect of the specified return for the reporting period, and
- B
- is the specified amount referred to in paragraph 5(2)(b) in respect of the specified return for the reporting period; and
(c) the positive or negative amount determined by the formula
A – B
where
- A
- is the specified amount referred to in paragraph 5(1)(c) in respect of the specified return for the reporting period, and
- B
- is the specified amount referred to in paragraph 5(2)(c) in respect of the specified return for the reporting period.
Marginal note:Recaptured input tax credits — selected listed financial institutions
(4) For the purposes of section 284.01 of the Act, a prescribed amount in respect of a specified return for a reporting period of a person is a positive or negative amount that
(a) is a prescribed amount for the reporting period for the purpose of the description of G in subsection 225.2(2) of the Act; and
(b) is determined under paragraph 46(d) of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations.
- SOR/2013-44, s. 23
- SOR/2013-71, s. 15
- Date modified: