Excise Tax Act — E-15 21.33
Interpretation 21.33 (1) For the purposes of this section, (a) a licensee’s “instalment base” (i) for a month is the lesser of (A) the tax imposed by this Part that was collected or collectible by that licensee in that month, and (B) the tax so collected or collectible in the last preceding month, (ii) for an accounting period is the lesser of (A) the tax imposed by this Part that was collected or collectible by that licensee in that accounting period, and (B) the tax so collected or collectible in the last preceding accounting period, and (iii) for any other period to which a return relates is the lesser of (A) the tax imposed by this Part that was collected or collectible by that licensee in that period, and (B) the tax so collected or collectible in the last preceding period multiplied by the ratio that the number of days in the period to which the return relates is to the number of days in the last preceding period; and (b) a licensee is a “large taxpayer” at any particular time if (i) the aggregate amount of taxes payable under Parts II.1, III, IV and VI, other than taxes payable in accordance with the Customs Act , and collected or collectible under Part II and this Part by that licensee in the last preceding calendar year ending at least ninety days, or ninety-one days where that time falls in a leap year, before that time exceeded twelve million dollars, or (ii) the licensee (A) was, at any time in the last preceding calendar year ending at least ninety days, or ninety-one days where that time falls in a leap year, before that time, a member of a group of associated corporations (within the meaning of section 256 of the Income Tax Act ) and the aggregate amount of taxes payable under Parts II.1, III, IV and VI, other than taxes payable in accordance with the Customs Act , and collected or collectible under Part II and this Part by the group in that year exceeded twelve million dollars, and (B) is not, at that time, authorized to make a return in accordance with a regulation made under paragraph 21.32(3)(b) or (c). Instalment payments by large taxpayers (2) A large taxpayer who is required to file a return and remit tax within the time prescribed by subsection 21.32(4) shall pay instalments on account of the tax in accordance with the following rules: (a) in the case where the return is required to be made in accordance with subsection 21.32(1), the large taxpayer shall pay two instalments, each equal to one-half of the taxpayer’s instalment base for the month in which the tax was collected or became collectible, the first to be paid not later than the last day of that month and the second not later than the fifteenth day of the next following month; and (b) in the case where the return is authorized to be made in accordance with a regulation made under paragraph 21.32(3)(a), the large taxpayer shall pay two instalments, each equal to one-half of the taxpayer’s instalment base for the accounting period to which the return relates, the first to be paid not later than the last day of that accounting period and the second not later than the fifteenth day of the next following accounting period. Instalment payments by other licensees (3) A licensee, other than a large taxpayer, who is required to file a return and remit tax within the time prescribed by subsection 21.32(4) shall pay an instalment on account of the tax in accordance with the following rules: (a) in the case where the return is required to be made in accordance with subsection 21.32(1), the licensee shall pay an instalment, equal to the licensee’s instalment base for the month in which the tax was collected or became collectible, not later than the twenty-first day of the next following month; (b) in the case where the return is authorized to be made in accordance with a regulation made under paragraph 21.32(3)(a), the licensee shall pay an instalment, equal to the licensee’s instalment base for the accounting period to which the return relates, not later tha