New Harmonized Value-added Tax System Regulations, No. 2 — 47
 1 × A 2 where A 1 is 36% of the tax under subsection 165(2) of the Act that is deemed under section 191 of the Act to have been paid by the person at the specified time, and A 2 is (i) if the unit is a single unit residential complex or a residential condominium unit, 1, and (ii) in any other case, the unit’s percentage of total floor space; and B is the greater of $350,000 and (i) if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the specified time, and (ii) in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value at the specified time of the residential complex or addition, as the case may be. Cooperative housing corporation — Ontario (7) Subject to subsections (13) and (14), if a cooperative housing corporation (in this subsection referred to as the “cooperative”) is entitled to claim a rebate in respect of a residential unit included in a residential complex situated in Ontario under subsection 256.2(5) of the Act, or would be so entitled if the fair market value of the residential complex were less than $450,000 and the amount determined by the first formula in that subsection were a positive amount, for the purposes of subsection 256.21(1) of the Act, the cooperative is a prescribed person in respect of the unit and the amount of the rebate in respect of the unit under that subsection is equal to the amount determined by the formula A - B where A is the lesser of $24,000 and the amount determined by the formula A 1 × A 2 where A 1 is 75% of the tax under subsection 165(2) of the Act that is payable in respect of the purchase from the supplier (within the meaning of subparagraph 256.2(5)(a)(i) of the Act) of the complex or an interest in the complex, as the case may be, or is deemed to have been paid in respect of the deemed purchase (within the meaning of subparagraph 256.2(5)(a)(ii) of the Act) of the complex or an addition to the complex, as the case may be, and A 2 is (a) if the unit is a single unit residential complex, 1, and (b) in any other case, the unit’s percentage of total floor space; and B is the amount of the rebate, if any, under subsection 256.21(1) of the Act, the amount of which is determined under subsection 45 (2), that the recipient of the exempt supply of the unit referred to in paragraph 256.2(5)(c) of the Act is entitled to claim in respect of the unit. Cooperative housing corporation — Newfoundland and Labrador (8) Subject to subsections (13) and (14), if a cooperative housing corporation (in this subsection referred to as the “cooperative”) is entitled to claim a rebate in respect of a residential unit included in a residential complex, situated in Newfoundland and Labrador, under subsection 256.2(5) of the Act, for the purposes of subsection 256.21(1) of the Act, the cooperative is a prescribed person in respect of the residential unit and the amount of the rebate in respect of the residential unit under that subsection is equal to the amount determined by the formula A × ($450,000 − B)/$100,000 where A is the lesser of $12,600 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the tax under subsection 165(2) of the Act that is payable in respect of the purchase from the supplier (within the meaning of subparagraph 256.2(5)(a)(i) of the Act) of the residential complex or an interest in the residential complex, as the case may be, or is deemed to have been paid in respect of the deemed purchase (within the meaning of subparagraph 256.2(5)(a)(ii) of the Act) of the residential complex or addition to the residential complex, as the case may be, and A 2 is (i) if the unit is a single unit residential complex, 1, and (ii) in any other case, the unit’s percentage of total floor space; and B is the greater of $350,000 and (i) if the residential unit is a single unit residential complex or a residential condominium