Hyperlawhypertext legal database Excise Tax Act

← Historical versions

Versions of s. 280(5)

E-15 — Excise Tax Act · 1 version

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

  1. 2003-01-01 to 2006-06-22 View Source

    Where on a particular day the Minister holds security under section 314 for the payment or remittance of tax or any other amount under this Part and any tax, net tax, instalment or amount under section 264 payable by the person under this Part is not paid or remitted on or before the day on or before which it is required to be paid or remitted under this Part, the penalty under this section shall apply on the particular day only to the extent that the total of the tax, instalments, penalty, interest and other amounts outstanding on the particular day exceeds the value of the security at the time it was accepted by the Minister.