Excise Tax Act — E-15 256.2
 to subsections (7) and (8), pay a rebate to the cooperative in respect of that unit equal to the amount determined by the formula [A × ($450,000 - B)/$100,000] - C where A is the lesser of $6,300 and the amount determined by the formula A 1 × A 2 where A 1 is 36% of the total tax under subsection 165(1) that is payable in respect of the purchase from the supplier or is deemed to have been paid in respect of the deemed purchase, and A 2 is (i) if the unit is a single unit residential complex, 1, and (ii) in any other case, the unit’s percentage of total floor space, B is the greater of $350,000 and (i) if the unit is a single unit residential complex or a residential condominium unit, the fair market value of the unit at the particular time at which tax first becomes payable in respect of the purchase from the supplier or tax in respect of the deemed purchase is deemed to have been paid by the cooperative, and (ii) in any other case, the amount determined by the formula B 1 × B 2 where B 1 is the unit’s percentage of total floor space, and B 2 is the fair market value of the complex at the particular time, and C is the total of (i) the amount of the rebate, if any, under subsection 255(2) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit, and (ii) the amount of the rebate, if any, under subsection 255(2.1) that the recipient of the exempt supply of the unit was entitled to claim in respect of the unit. Rebate for land leased for residential purposes (6) If (a) a person makes an exempt supply of land (i) that is a supply included in paragraph 7(a) of Part I of Schedule V made to a person described in subparagraph (i) of that paragraph, or that is a supply, included in paragraph 7(b) of that Part, of a site in a residential trailer park, and (ii) that results in the person being deemed under any of subsections 190(3) to (5), 200(2), 206(4) and 207(1) to have made and received a taxable supply by way of sale of the land and to have paid tax, at a particular time, in respect of that supply, (b) in the case of an exempt supply of land described in paragraph 7(a) of Part I of Schedule V, the residential unit that is or is to be affixed to the land is or will be so affixed for the purpose of its use and enjoyment as a primary place of residence for individuals, and (c) the person is not entitled to include the tax deemed to have been paid by the person in determining an input tax credit of the person, the Minister shall, subject to subsections (7) and (8), pay a rebate to the person equal to the amount determined by the formula A × ($112,500 - B)/$25,000 where A is (i) in the case of a taxable supply in respect of which the person is deemed to have paid tax calculated on the fair market value of the land, 36% of the tax under subsection 165(1) that is deemed to have been paid in respect of that supply, and (ii) in the case of a taxable supply in respect of which the person is deemed to have paid tax equal to the basic tax content of the land, 36% of the qualifying portion of the basic tax content of the land at the particular time, and B is the greater of $87,500 and (i) in the case of a supply of land included in paragraph 7(a) of Part I of Schedule V, the fair market value of the land at the particular time, and (ii) in the case of a supply of a site in a residential trailer park or in an addition to a residential trailer park, the fair market value, at the particular time, of the park or addition, as the case may be, divided by the total number of sites in the park or addition, as the case may be, at the particular time. Adjustment for transitional rebate (6.1) For the purposes of determining the amount of a particular rebate in respect of a residential complex, an interest in a residential complex or an addition to a multiple unit residential complex payable to a person under any of subsections (3) to (5), the amount of the total tax under subsection 165(1) included in the calculatio