Hyperlawhypertext legal database Excise Tax Act

← Historical versions

Versions of s. 256.2(5)

E-15 — Excise Tax Act · 5 versions · View current text

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

  1. 2026-03-12 to present available View Source
    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $6,300 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the total of the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit, and the amount of the rebate, if any, under subsection 255(2.1) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.
    Full text

    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $6,300 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the total of the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit, and the amount of the rebate, if any, under subsection 255(2.1) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.

  2. 2008-06-18 to 2026-03-12 View Source
    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $6,300 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.
    Full text

    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $6,300 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.

  3. 2008-01-01 to 2008-06-18 View Source
    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $7,560$6,300 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.
    Full text

    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $6,300 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.

  4. 2006-06-22 to 2008-01-01 View Source
    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $8750$7,560 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.
    Full text

    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $7,560 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.

  5. 2003-01-01 to 2006-06-22 View Source

    If[A × ($450,000 - B)/$100,000] - C where A is the lesser of $8750 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is if the unit is a single unit residential complex, 1, and in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit.