Electronic Filing and Provision of Information (GST/HST) Regulations — 5
Recaptured input tax credits — addition 5 (1) For the purposes of this section, if, under subsection 236.01(2) of the Act, a person is required, in determining its net tax for a reporting period of the person, to add all or part of a specified provincial input tax credit (as defined in subsection 236.01(1) of the Act) of the person in respect of property or a service, (a) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Ontario or that relate to a service acquired for consumption or use in Ontario is a specified amount in respect of a specified return for the reporting period; (b) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, British Columbia or that relate to a service acquired for consumption or use in British Columbia is a specified amount in respect of a specified return for the reporting period; and (c) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Prince Edward Island or that relate to a service acquired for consumption or use in Prince Edward Island is a specified amount in respect of a specified return for the reporting period. Recaptured input tax credits — deduction (2) For the purposes of this section, if, under subsection 236.01(3) of the Act, a person is permitted, in determining its net tax for a reporting period of the person, to deduct all or part of a specified provincial input tax credit (as defined in subsection 236.01(1) of the Act) of the person in respect of property or a service, (a) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Ontario or that relate to a service acquired for consumption or use in Ontario is a specified amount in respect of a specified return for the reporting period; (b) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, British Columbia or that relate to a service acquired for consumption or use in British Columbia is a specified amount in respect of a specified return for the reporting period; and (c) the total of all such amounts that are reasonably attributable to property acquired in, or brought into, Prince Edward Island or that relate to a service acquired for consumption or use in Prince Edward Island is a specified amount in respect of a specified return for the reporting period. Prescribed amounts (3) For the purposes of section 284.01 of the Act, the following amounts are prescribed amounts in respect of a specified return for a reporting period of a person: (a) the positive or negative amount determined by the formula A - B where A is the specified amount referred to in paragraph 5(1)(a) in respect of the specified return for the reporting period, and B is the specified amount referred to in paragraph 5(2)(a) in respect of the specified return for the reporting period; (b) the positive or negative amount determined by the formula A - B where A is the specified amount referred to in paragraph 5(1)(b) in respect of the specified return for the reporting period, and B is the specified amount referred to in paragraph 5(2)(b) in respect of the specified return for the reporting period; and (c) the positive or negative amount determined by the formula A – B where A is the specified amount referred to in paragraph 5(1)(c) in respect of the specified return for the reporting period, and B is the specified amount referred to in paragraph 5(2)(c) in respect of the specified return for the reporting period. Recaptured input tax credits — selected listed financial institutions (4) For the purposes of section 284.01 of the Act, a prescribed amount in respect of a specified return for a reporting period of a person is a positive or negative amount that (a) is a prescribed amount for the reporting period for the purpose of the description of G in subsection 225.2(2) of the Act; and (b) is determined under p