Excise Tax Act — E-15 123
G is (A) 7%, if the amount determined for D is included, or would be included if the tax became payable, in the description of A in subsection 225.2(2) for a reporting period of the selected listed financial institution that ends before July 1, 2006, (B) 6%, if the amount determined for D is included, or would be included if the tax became payable, in the description of A in subsection 225.2(2) for a reporting period of the selected listed financial institution that ends after June 30, 2006, but before January 1, 2008, and (C) 5%, in any other case, B is the total of (i) all tax referred to in subparagraphs (i) to (iv) of the description of A that the person was exempt from paying under any other Act or law, (ii) all tax (other than tax referred to in subparagraph (i)) under subsection 165(2) and section 212.1 referred to in any of subparagraphs (i) to (iv) of the description of A that became payable by the person, or would have become payable by the person in the circumstances described in that subparagraph, while the person was a selected listed financial institution, (iii) all amounts (other than input tax credits and amounts referred to in subparagraphs (i) and (ii)) in respect of tax referred to in subparagraphs (i) and (ii) of the description of A that the person was entitled to recover by way of rebate, refund, remission or otherwise under this or any other Act or law or would have been entitled to so recover if the property or improvement had been acquired for use exclusively in activities that are not commercial activities, and (iv) all amounts (other than input tax credits and amounts referred to in subparagraphs (i) and (ii)) in respect of tax referred to in subparagraphs (iii) and (iv) of the description of A that the person would have been entitled to recover by way of rebate, refund, remission or otherwise under this or any other Act or law if that tax had been payable and the property or improvement had been acquired for use exclusively in activities that are not commercial activities, and C is the lesser of 1 and the fraction H/I where H is the fair market value of the property at the particular time, and I is the total of (i) the value of the consideration for the last supply to the person of the property or, where the property was last imported by the person, the value of the property determined under section 215, and (ii) where the person acquired or imported improvements to the property after the property was last so acquired or imported, the total of all amounts each of which is the value of the consideration for a supply to the person of such an improvement or, where such an improvement is property that was imported or brought into a participating province by the person, the value of the property determined under section 215 or subsection 220.05(1), 220.06(1) or 220.07(3), as the case may require, and (b) if the person brought the property into a participating province from another province for consumption, use or supply in the participating province in circumstances in which the person was required to pay tax in respect of the property under section 220.05, or would have been required to pay that tax but for the fact that the property was brought into that province for consumption, use or supply exclusively in commercial activities or the person was exempt from paying that tax under any other Act or law, the amount determined by the formula (J - K) × L where J is the total of (i) the basic tax content of the property, determined under paragraph (a), immediately before the property was brought into the province, (ii) the tax that became payable by the person in respect of the property under section 220.05 when the property was brought into the participating province, (iii) the tax that was payable by the person in respect of improvements to the property acquired, imported or brought into a participating province by the person after the property was brought into the participating province, (iv) the tax und