Excise Tax Act — E-15 141.02
 person. ( renseignement demandé ) residual input means a direct input or a non-attributable input. ( intrant résiduel ) residual input tax amount of a person for a fiscal year means (a) if the person is a selected listed financial institution at any time in the fiscal year, an amount of tax under any of subsection 165(1) and sections 212, 218 and 218.01 in respect of a supply or importation of a residual input that became payable by the person during the fiscal year without having been paid before the fiscal year or was paid by the person during the fiscal year without having become payable; and (b) in any other case, an amount of tax in respect of a supply, importation or bringing into a participating province of a residual input that became payable by the person during the fiscal year without having been paid before the fiscal year or was paid by the person during the fiscal year without having become payable. ( montant de taxe pour intrant résiduel ) specified method means a method, conforming to criteria, rules, terms and conditions specified by the Minister, of determining the operative extent and the procurative extent of property or a service. ( méthode déterminée ) tax credit amount of a person for a fiscal year of the person means (a) if the person has made an election under subsection (9) in respect of the fiscal year, the total of all amounts each of which is an input tax credit for the fiscal year in respect of a residual input tax amount of the person for the fiscal year that the person would, in the absence of that subsection, be entitled to claim under this Part; (b) if the person is a qualifying institution for the fiscal year, has not made an election under subsection (7) or (27) in respect of the fiscal year and has not received an authorization from the Minister to use for the fiscal year the particular methods set out in an application made under subsection (18), the total of all amounts each of which is an input tax credit for the fiscal year in respect of a residual input tax amount of the person for the fiscal year that the person would, if the person were not a qualifying institution for the fiscal year and did not make an election under subsection (9) in respect of the fiscal year, be entitled to claim under this Part; and (c) in any other case, the total of all amounts each of which is an input tax credit for the fiscal year in respect of a residual input tax amount of the person for the fiscal year that the person is entitled to claim under this Part. ( montant de crédit de taxe ) tax credit rate of a person for a fiscal year of the person means the quotient, expressed as a percentage, determined by dividing the tax credit amount of the person for the fiscal year by the total tax amount of the person for the fiscal year. ( taux de crédit de taxe ) total tax amount of a person for a fiscal year of the person means the total of all amounts each of which is a residual input tax amount of the person for the fiscal year. ( montant total de taxe ) Meaning of consideration (2) In this section, consideration does not include nominal consideration. Financial institution throughout a year (3) For the purposes of this section, a person is a financial institution of a prescribed class throughout a particular fiscal year of the person if the person is a financial institution of that class at any time in the particular fiscal year. Mergers and amalgamations (4) If two or more corporations (each of which is referred to in this subsection as a “predecessor”) are merged or amalgamated to form one corporation (in this subsection referred to as the “new corporation”), otherwise than as the result of the acquisition of property of one corporation by another corporation pursuant to the purchase of the property by the other corporation or as the result of the distribution of the property to the other corporation on the winding-up of the corporation, despite section 271 and for the purposes of determining the tax credit a