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Excise Tax Act

Version of section 247 from 2003-01-01 to 2012-12-13:


Marginal note:Election for fiscal quarters

  •  (1) A person that is a charity on the first day of a fiscal year of the person or whose threshold amount for a fiscal year does not exceed $6,000,000 may make an election to have reporting periods that are fiscal quarters of the person, to take effect

    • (a) where the person is a registrant on the first day of that fiscal year, that day; or

    • (b) on the day in that fiscal year that the person becomes a registrant.

  • Marginal note:Duration of election

    (2) An election made under this section by a person shall remain in effect until the earliest of

    • (a) the beginning of the day an election by the person under section 246 or 248 takes effect,

    • (b) where the person is not a charity, the beginning of the first fiscal quarter of the person for which the threshold amount of the person exceeds $6,000,000, and

    • (c) where the person is not a charity, the beginning of the first fiscal year of the person for which the threshold amount of the person exceeds $6,000,000.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • 1990, c. 45, s. 12
  • 1997, c. 10, s. 56

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