Excise Tax Act — E-15 232.01
 a taxable supply of the specified resource or part on or before the particular day, and A 2 is the master pension factor in respect of the pension plan for the fiscal year of the master pension entity that includes the particular day, and B is the total of all amounts, each of which is the federal component amount of another tax adjustment note issued under subsection (3) on or before the particular day in respect of the specified resource or part; and (b) the provincial component amount shall not exceed the amount determined by the formula C – D where C is (i) if the taxable supply referred to in paragraph (3)(a) is deemed to have been made under paragraph 172.1(5)(a), the lesser of (A) the amount determined for B in paragraph 172.1(5)(c) in respect of the specified resource or part, and (B) the total of all amounts, each of which is an amount of tax under subsection 165(2) that became payable, or was paid without having become payable, to the person (otherwise than by the operation of section 172.1) by the pension entity in respect of a taxable supply of the specified resource or part on or before the particular day, and (ii) if the taxable supply referred to in paragraph (3)(a) is deemed to have been made under paragraph 172.1(5.1)(a), the lesser of (A) the amount determined for the pension plan under the description of B in paragraph 172.1(5.1)(c) in respect of the specified resource or part, and (B) the amount determined by the formula and C 1 × C 2 where C 1 is the total of all amounts, each of which is an amount of tax under subsection 165(2) that became payable, or was paid without having become payable, to the person (otherwise than by the operation of section 172.1) by the master pension entity referred to in subparagraph (3)(c)(ii) in respect of a taxable supply of the specified resource or part on or before the particular day, and C 2 is the master pension factor in respect of the pension plan for the fiscal year of the master pension entity that includes the particular day, and D is the total of all amounts, each of which is the provincial component amount of another tax adjustment note issued under subsection (3) on or before the particular day in respect of the specified resource or part. Effect of tax adjustment note (5) If a person issues a tax adjustment note to a pension entity under subsection (3) in respect of all or part of a specified resource, a supply of the specified resource or part is deemed to have been received by the pension entity under subparagraph 172.1(5)(d)(i) or (5.1)(d)(i) and tax (in this subsection referred to as “deemed tax”) in respect of that supply is deemed to have been paid on a particular day under subparagraph 172.1(5)(d)(ii) or (5.1)(d)(ii) or paragraph 172.1(8.01)(b) by the pension entity, the following rules apply: (a) the total tax amount of the tax adjustment note may be deducted in determining the net tax of the person for its reporting period that includes the day on which the tax adjustment note is issued; (b) the pension entity shall add, in determining its net tax for its reporting period that includes the day on which the tax adjustment note is issued, the amount determined by the formula A × (B/C) where A is the total of all input tax credits that the pension entity is entitled to claim in respect of the deemed tax, B is (i) if the pension entity was a selected listed financial institution on the particular day, the federal component amount of the tax adjustment note, and (ii) in any other case, the total tax amount of the tax adjustment note, and C is the amount of the deemed tax; (c) if any part of the amount of the deemed tax is included in the determination of the pension rebate amount of the pension entity for a particular claim period of the pension entity, the pension entity shall pay to the Receiver General — on or before the day that is the later of the day on which the application for the rebate is filed and the day that is the last day of its claim period