Excise Tax Act — E-15 301
Meaning of specified person 301 (1) Where an assessment is issued to a person in respect of net tax for a reporting period of the person, an amount (other than net tax) that became payable or remittable by the person during a reporting period of the person or a rebate of an amount paid or remitted by the person during a reporting period of the person, for the purposes of this section, the person is a specified person in respect of the assessment or a notice of objection to the assessment if (a) the person was a listed financial institution described in any of subparagraphs 149(1)(a)(i) to (x) during that reporting period; or (b) the person was not a charity during that reporting period and the person’s threshold amounts, determined in accordance with subsection 249(1), exceed $6 million for both the person’s fiscal year that includes the reporting period and the person’s previous fiscal year. Objection to assessment (1.1) Any person who has been assessed and who objects to the assessment may, within ninety days after the day notice of the assessment is sent to the person, file with the Minister a notice of objection in the prescribed form and manner setting out the reasons for the objection and all relevant facts. Issue to be decided (1.2) Where a person objects to an assessment in respect of which the person is a specified person, the notice of objection shall (a) reasonably describe each issue to be decided; (b) specify in respect of each issue the relief sought, expressed as the change in any amount that is relevant for the purposes of the assessment; and (c) provide the facts and reasons relied on by the person in respect of each issue. Input tax allocation (1.21) If a financial institution to which subsection (1.2) does not apply objects to an assessment and the objection relates in any manner to the application of section 141.02, the notice of objection shall (a) reasonably describe each issue to be decided in respect of that section; (b) specify in respect of each of those issues the relief sought, expressed as the change in any amount that is relevant for the purposes of the assessment; and (c) provide the facts and reasons relied on by the financial institution in respect of each of those issues. Late compliance (1.3) Despite subsection (1.2) or (1.21), if a notice of objection filed by a person to which one of those subsections applies does not include the information required by paragraph (1.2)(b) or (c), or (1.21)(b) or (c), as the case may be, in respect of an issue to be decided that is described in the notice, the Minister may in writing request the person to provide the information, and those paragraphs shall be deemed to be complied with in respect of the issue if, within 60 days after the request is made, the person submits the information in writing to the Minister. Limitation on objections (1.4) Despite subsection (1.1), if a person to which subsection (1.2) or (1.21) applies has filed a notice of objection to an assessment (in this subsection referred to as the “earlier assessment”) and the Minister makes a particular assessment under subsection (3) pursuant to the notice of objection, except where the earlier assessment was made under subsection 274(8) or in accordance with an order of a court vacating, varying or restoring an assessment or referring an assessment back to the Minister for reconsideration and reassessment, the person may object to the particular assessment in respect of an issue (a) only if the person complied with subsection (1.2) or (1.21) in the notice with respect to that issue; and (b) only with respect to the relief sought in respect of that issue as specified by the person in the notice. Application of subsection (1.4) (1.5) Where a person has filed a notice of objection to an assessment (in this subsection referred to as the “earlier assessment”) and the Minister makes a particular assessment under subsection (3) pursuant to the notice of objection, subsection (1.4) does not limit