Excise Tax Act — E-15 256.71
the agreement and to have paid tax under subsection 165(1) in respect of the supply calculated at the rate of 7%, and (d) the particular person is not entitled to claim a rebate under subsection 254.1(2) in respect of the complex, the Minister shall, subject to subsection (4), (e) pay a rebate to the particular person, in addition to the rebate payable under subsection 256.4(2), equal to the amount determined by the formula A/B where A is the total of all amounts, each of which is the consideration payable by the particular person to the builder for the supply by way of sale to the particular person of the building or part of the building referred to in subparagraph (a)(ii) or of any other structure that forms part of the complex, other than consideration that can reasonably be regarded as rent for the supplies of the land attributable to the complex or as consideration for the supply of an option to purchase that land, and B is (i) if the complex is situated in a participating province, 115, and (ii) in any other case, 107, and (f) if the builder is not entitled to claim an input tax credit or a rebate, other than a rebate under this subsection or under subsection 256.4(2), in respect of the tax referred to in paragraph (c), pay a rebate to the builder, in addition to the rebate payable under subsection 256.4(2), equal to the amount determined by the formula 0.01 × [C - (D × (100/E))] where C is the fair market value of the complex at the time the builder is deemed to have made the supply referred to in paragraph (c), D is the total of all amounts, each of which is the consideration payable by the particular person to the builder for the supply by way of sale to the particular person of the building or part of the building referred to in subparagraph (a)(ii) or of any other structure that forms part of the complex, other than consideration that can reasonably be regarded as rent for the supplies of the land attributable to the complex or as consideration for the supply of an option to purchase that land, and E is (i) if the complex is situated in a participating province, 115, and (ii) in any other case, 107. Group of individuals (3) If the supplies described in subsection (1) or (2) are made to two or more individuals, the references in that subsection to a particular person shall be read as references to all of those individuals as a group, but, in the case of a rebate where paragraph (1)(e) applies, only the individual that applied for the rebate under section 254.1 may apply for the rebate under subsection (1). Application for rebate (4) A rebate under this section in respect of a residential complex shall not be paid to a person, unless the person files an application for the rebate within two years after (a) in the case of a rebate to a person other than the builder of the complex, the day on which possession of the complex is transferred to the person; and (b) in the case of a rebate to the builder of the complex, the end of the month in which the tax referred to in paragraph (1)(c) or (2)(c) is deemed to have been paid by the builder. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] 2007, c. 35, s. 194