Versions of s. 225(1)

E-15 — Excise Tax Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2014-06-19 to present available View Source

Subject to this Subdivision, the net tax for a particular reporting period of a person is the positive or negative amount determined by the formula A - B where A is the total of all amounts that became collectible and all other amounts collected by the person in the particular reporting period as or on account of tax under Division II, and all amounts that are required under this Part to be added in determining the net tax of the person for the particular reporting period; and B is the total of all amounts each of which is an input tax credit for the particular reporting period or a preceding reporting period of the person claimed by the person in the return under this Division filed by the person for the particular reporting period, and all amounts each of which is an amount that may be deducted by the person under this Part in determining the net tax of the person for the particular reporting period and that is claimed by the person in the return under this Division filed by the person for the particular reporting period.

Full text

Subject to this Subdivision, the net tax for a particular reporting period of a person is the positive or negative amount determined by the formula A - B where A is the total of all amounts that became collectible and all other amounts collected by the person in the particular reporting period as or on account of tax under Division II, and all amounts that are required under this Part to be added in determining the net tax of the person for the particular reporting period; and B is the total of all amounts each of which is an input tax credit for the particular reporting period or a preceding reporting period of the person claimed by the person in the return under this Division filed by the person for the particular reporting period, and all amounts each of which is an amount that may be deducted by the person under this Part in determining the net tax of the person for the particular reporting period and that is claimed by the person in the return under this Division filed by the person for the particular reporting period.
2003-01-01 to 2014-06-19 View Source

Subject to this Subdivision, the net tax for a particular reporting period of a person is the positive or negative amount determined by the formula A - B where A is the total of all amounts that became collectible and all other amounts collected by the person in the particular reporting period as or on account of tax under Division II, and all amounts that are required under this Part to be added in determining the net tax of the person for the particular reporting period; and B is the total of all amounts each of which is an input tax credit for the particular reporting period or a preceding reporting period of the person claimed by the person in the return under this Division filed by the person for the particular reporting period, and all amounts each of which is an amount that may be deducted by the person under this Part in determining the net tax of the person for the particular reporting period and that is claimed by the person in the return under this Division filed by the person for the particular reporting period.