Streamlined Accounting (GST/HST) Regulations — 15
15 (1) Section 1 and subsection 2(2) are deemed to have come into force on April 1, 1997. (2) The repeal of the definitions basic groceries , medical device , prescription drug and retail establishment in subsection 2(1) of the Regulations, as enacted by subsection 2(1), section 3, subsections 4(4) and 5(1), the definition retail establishment in subsection 19(1) of the Regulations, as enacted by subsection 9(3), and subsections 10(2), 13(2) and 14(4) apply for the purpose of determining the net tax of a registrant for reporting periods (a) beginning after 1994 if the registrant’s election to determine net tax in accordance with any of Parts I to III of the Regulations was in effect on June 1, 1993, and (b) beginning after June 1, 1993, in any other case, except that, for reporting periods beginning before 1997, the reference to “a specified facility operator” in subsection 20(1) of the Regulations, as enacted by subsection 10(2), shall be read as a reference to “a charity”. (3) The repeal of the definition improvement in subsection 2(1) of the Regulations, as enacted by subsection 2(1), is deemed to have come into force on April 24, 1996. (4) Subsection 2(3) is deemed to have come into force on March 1, 1994. (5) Subsection 2(4) applies to trade-ins accepted as full or partial consideration if that consideration becomes due after June 30, 1997 or is paid after that day without having become due. (6) Subsection 2(6) applies for the purpose of determining the basic threshold amount used in determining the quick-method rate that applies to supplies made after November 26, 1997. (7) Subsections 2(5), (7) and (8), 6(1) and 11(1) and (8), sections 21.1 to 21.4 of the Regulations, as enacted by section 12, and subsections 13(1) and 14(1) and (3) apply for the purpose of determining the net tax of a registrant for reporting periods that are fiscal years ending after 1992 or fiscal months or fiscal quarters ending after February 1993, except that (a) before April 1997, the reference to “ (GST/HST) ” in paragraph 21.1(5)(a) of the Regulations, as enacted by section 12, in paragraph (d) of the description of B in subsection 21.3(2) of the Regulations, as enacted by section 12, and in paragraph 24(2)(b) of the Regulations, as enacted by subsection 14(1), shall be read as a reference to “ (GST) ”; (b) with respect to reporting periods of a registrant beginning (i) before 1995, in the case of a registrant whose election to determine net tax in accordance with any of Parts I to III of the Regulations was in effect on June 1, 1993, and (ii) on or before June 1, 1993, in the case of any other registrant, the portion of subsection 21.2(1) of the Regulations before paragraph (a), as enacted by section 12, shall be read as follows: 21.2 (1) Subject to section 23, a registrant is a prescribed registrant who may make an election, to take effect on the first day of a reporting period of the registrant, to determine the net tax of the registrant in accordance with this Part if (c) paragraphs 21.2(1)(c) and (d) and (2)(c) and (d) of the Regulations, as enacted by section 12, do not apply to fiscal years beginning before July 1993; (d) the description of A in subsection 21.3(2) of the Regulations, as enacted by section 12, shall, before April 1997, be read as follows: A is the tax fraction, and (e) the description of A in subsection 21.3(4) of the Regulations, as enacted by section 12, shall, before April 1997, be read as follows: A is the tax fraction, and (f) in applying subsection 21.3(5) of the Regulations, as enacted by section 12, before 1997, it shall be read as if no reference were made to a public institution; and (g) the reference in subsection 24(1) of the Regulations, as enacted by subsection 14(1), to “Subsections 225(2) to (3.1)” shall, before April 23, 1996, be read as a reference to “Subsections 225(2) and (3)”. (8) Subsection 4(1) applies to property acquired, imported or brought into a participating province, as the case may be, afte