Determining the finance amount
 5. (1) Subject to subsection (2) and section 6.1, the finance amount in respect of a financing entity and a period of time shall be determined as follows: 1. After eliminating any duplication in the following amounts, calculate the sum of the following amounts: i. Amounts paid or payable during the period in respect of repayments. ii. Funding costs paid or payable during the period. iii. Redemption amounts paid or payable during the period. iv. Derivative payments required to be made during the period. v. Amounts deposited, as required under the governing documents of funding obligations, into capital accounts or finance reserve accounts during the period. vi. Financing entity expenses paid or payable during the period. vii. Tax liabilities payable during the period. viii. Amounts paid or payable by or on behalf of a financing entity during the period to any guarantor or surety that made a payment of an amount due and payable under a funding obligation, including pursuant to a guarantee, indemnity, contract of insurance or agreement entered into under subsection 5 (2) or (3) of the Act. 2. After eliminating any duplication in the following amounts, calculate the sum of the following amounts: i. Amounts withdrawn, as required under the governing documents of funding obligations, from capital accounts or finance reserve accounts during the period. ii. For any period before May 1, 2021, amounts received during the period in respect of funding rebates and carrying costs. ii.1 For any period on and after May 1, 2021, amounts received during the period in respect of funding rebates. iii. Recovery amounts received during the period. iv. Refinancing amounts that are applied to repayments during the period. v. Any payments received in connection with a derivative agreement, including ordinary course receipts, payments received on termination and payments received in connection with margining or collateral arrangements. vi. Tax refunds received during the period. 3. Subtract the sum calculated under paragraph 2 from the sum calculated under paragraph 1. O. Reg. 206/17, s. 5 (1); O. Reg. 415/17, s. 2; O. Reg. 446/17, s. 2. (2) Subject to subsection (3), the following rules apply with respect to the determination of the finance amount: 1. The determination shall be made by applying a cash basis accounting method. 2. If the determination is in respect of a past period of time, the determination shall reflect cash amounts actually paid, deposited, received, applied, withdrawn or made available during that period of time. 3. If the determination is in respect of a future period of time, the determination shall reflect the estimated cash amounts that will be paid, deposited, received, applied, withdrawn or made available during that period of time. 4. If the determination is in respect of a period of time that includes both past and future dates, the determination may reflect a combination of actual and expected cash amounts. (3) Despite subsection (2), taxes may be estimated in respect of a particular tax reporting period of a financing entity and allocated in respect of various periods of time that occur within the tax reporting period, in such manner as the Financial Services Manager considers to be reasonable, subject to the following rules: 1. The estimated taxes, less any taxes paid by way of instalment or otherwise by or on behalf of the financing entity during the period of time in respect of which the finance amount is determined, shall be deemed to be a tax liability of the financing entity during that period of time. 2. The amount, if any, by which the estimated taxes exceeds the tax liability of the financing entity in respect of the particular tax reporting period, as determined without taking into account paragraph 1, shall be deemed to be a tax refund received by the financing entity during the period of time described in subsection (4). 3. The amount, if any, by which the tax liability of the financing entity in respect of the particular tax reporting period, as determined without taking into account paragraph 1, exceeds the estimated taxes shall be deemed to be a tax liability payable by the financing entity during the period of time described in subsection (4). 4. If a financing entity receives an assessment or reassessment of taxes for a particular tax reporting period that differs from the amount shown on a tax return filed with the applicable governmental authority, the following rules apply: i. The assessed or reassessed amount shall be deemed to be a tax liability payable by the financing entity during the first period of time, commencing after the date of the assessment or reassessment, in respect of which the finance amount is determined. ii. Any interest charged on the assessed or reassessed amount following the date of the assessment or reassessment shall be deemed to be a tax liability payable by the financing entity as the interest is paid or accrues. iii. Once there has been a final determination with respect to the tax liability payable by the financing entity in respect of the particular tax reporting period, the amount, if any, by which the tax liability payable by the financing entity during the tax reporting period is decreased from the assessed or reassessed amount, together with the after-tax amount of any refund interest received by the financing entity, shall be deemed to be a tax refund received by the financing entity during the first period of time, commencing after the final determination, in respect of which the finance amount is determined. (4) For the purposes of paragraphs 2 and 3 of subsection (3), the period of time is the first period of time, commencing after the filing of the tax return with the applicable governmental authority for the particular tax reporting period, in respect of which the finance amount is determined. (5) For the purposes of subparagraph 4 iii of subsection (3), “final determination” means a determination made by the applicable governmental authority or court of competent jurisdiction and in respect of which all rights to object to or appeal have been exhausted or have expired.