Marginal note:Rebate in respect of intangible personal property or services supplied in a participating province
261.3 (1) Where a person who is resident in Canada is the recipient of a supply of intangible personal property or a service that is acquired by the person for consumption, use or supply primarily outside the participating provinces and tax under subsection 165(2) is payable in respect of the supply, the Minister shall, subject to section 261.4, pay a rebate to the person equal to the amount determined by the formula
A × B
where
- A
- is the amount of that tax; and
- B
- is the extent (expressed as a percentage) to which the intangible personal property or service is acquired by the person for consumption, use or supply outside the participating provinces.
Marginal note:Exception for investment plans, etc.
(2) A rebate is not payable under subsection (1) to a listed financial institution described in subparagraph 149(1)(a)(vi) or (ix) in respect of a supply of a specified service within the meaning assigned by subsection 261.31(1).
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 1997, c. 10, s. 229
- Date modified: