Streamlined Accounting (GST/HST) Regulations — 66
66 Subsection 19(1) applies for the purpose of determining the net tax of a registrant for reporting periods ending after December 2007, except that if a reporting period of the registrant includes January 1, 2008, paragraph (c) of the description of C in subsection 17(1) of the Streamlined Accounting (GST/HST) Regulations , as enacted by subsection 19(1), is to be read as follows: (c) an amount determined by the formula [(2.5% × C 1 ) + (2.8% × C 2 )] - [(2.1% × C 3 ) + (2.5% × C 4 ) + (2.8% × C 5 )] where C 1 is, in respect of specified supplies to which the quick-method rate of 0% applies, the total of (i) all consideration for specified supplies made by the registrant that became due, or was paid without having become due, to the registrant during that particular reporting period but before January 1, 2008, and (ii) all amounts that became collectible, and all other amounts collected, by the registrant during that particular reporting period as or on account of tax under Division II at the rate of 6% in respect of specified supplies made by the registrant, C 2 is, in respect of specified supplies to which the quick-method rate of 0% applies, the total of (i) all consideration for specified supplies made by the registrant that became due, or was paid without having become due, to the registrant during that particular reporting period but on or after January 1, 2008, and (ii) all amounts that became collectible, and all other amounts collected, by the registrant during that particular reporting period as or on account of tax under Division II at the rate of 5% in respect of specified supplies made by the registrant, C 3 is the total of all amounts each of which is an amount that the registrant has, in that particular reporting period, paid or credited to a person as or on account of (i) a reduction in, or a rebate or refund of, all or part of the consideration for a specified supply made by the registrant to the person, if the consideration for the specified supply became due, or was paid without having become due, before July 1, 2006 and the quick-method rate in respect of the specified supply is 0%, or (ii) a refund of, or a credit for, tax under Division II charged to or collected from the person at the rate of 7% in respect of a specified supply made by the registrant, if the quick-method rate in respect of the specified supply is 0%, C 4 is the total of all amounts each of which is an amount that the registrant has, in that particular reporting period, paid or credited to a person as or on account of (i) a reduction in, or a rebate or refund of, all or part of the consideration for a specified supply made by the registrant to the person, if the consideration for the specified supply became due, or was paid without having become due, on or after July 1, 2006 and before January 1, 2008 and the quick-method rate in respect of the specified supply is 0%, or (ii) a refund of, or a credit for, tax under Division II charged to or collected from the person at the rate of 6% in respect of a specified supply made by the registrant, if the quick-method rate in respect of the specified supply is 0%, and C 5 is the total of all amounts each of which is an amount that the registrant has, in that particular reporting period, paid or credited to a person as or on account of (i) a reduction in, or a rebate or refund of, all or part of the consideration for a specified supply made by the registrant to the person, if the consideration for the specified supply became due, or was paid without having become due, on or after January 1, 2008 and the quick-method rate in respect of the specified supply is 0%, or (ii) a refund of, or a credit for, tax under Division II charged to or collected from the person at the rate of 5% in respect of a specified supply made by the registrant, if the quick-method rate in respect of the specified supply is 0%; and