Versions of s. 353(1)

Where a supply of property or a service (other than a subscription for newspapers, magazines or other publications published periodically) is made in a participating province and the consideration for the supply of the property or service delivered, performed or made available during any period beginning before the implementation date for that province and ending on or after that implementation date is paid by the recipient under a budget payment arrangement with a reconciliation of the payments to take place at or after the end of the period and before the day that is one year after that implementation date, at the time the supplier issues an invoice for the reconciliation of the payments, the supplier shall determine the positive or negative amount determined by the formula A - B where A is the tax that would be payable under subsection 165(2) by the recipient for the part of the property or service supplied during the period that was delivered, performed or made available on or after that implementation date if the consideration therefor had become due and been paid on or after that implementation date; and B is the total tax payable under subsection 165(2) by the recipient in respect of the supply of the property or service delivered, performed or made available during the period.