Excise Tax Act — E-15 167.11
mportation or bringing into a participating province of an improvement to the property at that particular time (in this paragraph referred to as the “actions”) by the person shall be read as a reference to actions by the supplier and not actions by the recipient, (ii) any tax that was payable, that would have been or would have become payable, that became payable or that had been payable by the person in respect of those actions at that particular time shall be read as a reference to tax that was payable, that would have been or would have become payable, that became payable or that had been payable by the supplier and not by the recipient, (iii) the person in respect of those actions at that particular time, or in respect of a particular status of the person at that particular time, shall be read as a reference to the supplier and not to the recipient, (iv) any tax that the person was exempt from paying in respect of those actions at that particular time shall be read as a reference to tax that the supplier, and not the recipient, was exempt from paying, (v) the person’s percentage for a participating province determined for the purposes of subsection 225.2(2) for the person’s taxation year that includes the time that an amount of tax became payable, or would have become payable by the person while the person was a selected listed financial institution, shall be read as a reference to the supplier’s percentage for a participating province determined for the purposes of subsection 225.2(2) for the supplier’s taxation year that includes the time that an amount of tax became payable, or would have become payable while the supplier was a selected listed financial institution, and (vi) all amounts that the person was, or would have been, entitled to recover by way of rebate, refund, remission or otherwise in respect of those actions at that particular time shall be read as a reference to all amounts that the supplier, and not the recipient, was, or would have been, entitled to recover by way of rebate, refund, remission or otherwise in respect of those actions. Adjustment to net tax (5) For the purposes of this Part, if a supplier and a recipient make a joint election referred to in subsection (2) in respect of a qualifying supply made before November 17, 2005 under an agreement for the qualifying supply and tax is paid by the recipient in respect of property or a service supplied under the agreement for the qualifying supply despite no tax being payable in respect of that supply as a result of subsection (3), the tax is deemed, except for the purposes of subsection (4) and despite subsection (3), to have been payable by the recipient in respect of the supply of the property or service and, in determining the net tax for the particular reporting period of the recipient in which the election is filed with the Minister, the recipient may deduct in determining the net tax of the recipient for the particular reporting period the total of all amounts each of which is an amount determined by the formula A - B where A is the amount of tax paid, despite no tax being payable as a result of subsection (3), by the recipient in respect of the supply of the property or service made under the agreement for the qualifying supply; and B is the total of (a) all amounts each of which is an input tax credit that the recipient was entitled to claim in respect of the property or service supplied under the agreement for the qualifying supply, (b) all amounts each of which is an amount (other than an amount determined under this subsection) that may be deducted by the recipient under this Part in determining the net tax of the recipient for a reporting period in respect of the property or service supplied under the agreement for the qualifying supply, and (c) all amounts (other than amounts referred to in paragraphs (a) and (b)) in respect of the tax paid that may be otherwise recovered by way of rebate, refund, remission or otherwise by the recipient i