Streamlined Accounting (GST/HST) Regulations — 21
21 (1) Subject to subsections (2) and 21.3(1), if an election by a registrant to determine the net tax of the registrant in accordance with this Part is in effect during a particular reporting period of the registrant, the net tax of the registrant for the particular reporting period is equal to the positive or negative amount determined by the formula A + B - C where A is the total of all amounts each of which is determined, in respect of all the particular supplies to which the same special quick-method rate applies, by the formula D × (E - F) where D is the special quick-method rate of the registrant for the particular reporting period that applies to the particular supplies, E is the total of (a) all consideration that became due, or was paid without becoming due, to the registrant in the particular reporting period for the particular supplies that are taxable supplies (other than designated supplies, supplies of financial services, specified supplies and supplies deemed under section 181.1 or subsection 200(2) of the Act to have been made) made in Canada by the registrant, and (b) all amounts that became collectible, and all other amounts collected, by the registrant in the particular reporting period as or on account of tax under Division II in respect of the particular supplies that are taxable supplies (other than specified supplies and supplies deemed under section 181.1 or subsection 200(2) of the Act to have been made) made by the registrant, and F is the total of all amounts each of which is an amount that the registrant has, in the particular reporting period, paid or credited to a person as or on account of (a) a reduction in, or a rebate or refund of, all or part of the consideration for a particular supply (other than a designated supply or a specified supply) made in Canada by the registrant, or (b) a refund of, or a credit for, tax under Division II charged to or collected from the person in respect of a particular supply (other than a specified supply); B is the total of (a) all amounts each of which is an amount that became collectible, or was collected, by the registrant in the particular reporting period as or on account of tax under Division II in respect of (i) specified supplies made by the registrant, or (ii) supplies made on behalf of another person for whom the registrant acts as agent and in respect of which the registrant has made an election under subsection 177(1.1) of the Act, (b) all amounts in respect of specified supplies that are required under Division V to be added in determining the net tax for the particular reporting period, (b.1) the amount required under subsection 238.1(4) of the Act to be added in determining the net tax for the particular reporting period, (c) all amounts each of which is an amount of tax that is deemed under subsection 200(2) of the Act to have been collected by the registrant in the particular reporting period or a preceding reporting period of the registrant in respect of a supply (other than a specified supply), to the extent that the registrant applies for a rebate of the amount in an application filed under section 259 of the Act for the particular reporting period, and (d) all amounts each of which is an amount of tax (i) that the registrant is deemed, under subsection 199(3) of the Act, to have paid in the particular reporting period or a preceding reporting period of the registrant in respect of a supply of property, and (ii) in respect of which the registrant applies for a rebate in an application filed under section 259 of the Act for the particular reporting period, to the extent that the registrant was previously deemed, under subsection 200(2) of the Act, to have collected tax in respect of a supply of the property and that supply was not a specified supply; and C is the total of (a) all amounts each of which is an input tax credit of the registrant (i) for the particular reporting period or a preceding reporting period of the registrant during which