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Streamlined Accounting (GST/HST) Regulations

Version of section 16 from 2012-09-20 to 2024-03-06:

  •  (1) Where

    • (a) a person is, at any time in a reporting period of the person, a specified registrant,

    • (b) the total threshold amount for the reporting period does not exceed $400,000, and

    • (c) the registrant was engaged in commercial activities throughout the 365-day period ending immediately before the beginning of the reporting period and an election of the registrant did not cease to have effect in that 365-day period because of a revocation of the election,

    the registrant is a registrant who may file an election, to take effect on the first day of the reporting period, to determine the net tax of the registrant in accordance with this Part.

  • (2) A registrant who has filed an election to determine the net tax of the registrant in accordance with this Part ceases to be a registrant who may so determine that net tax at the end of the earliest of

    • (a) the first fiscal year of the registrant that is a reporting period of the registrant in which the registrant ceases to be a specified registrant,

    • (b) the fiscal year of the registrant immediately before the first fiscal year of the registrant that is a reporting period of the registrant for which the total threshold amount exceeds $400,000,

    • (c) the first fiscal quarter of the registrant that includes a reporting period of the registrant for which the total threshold amount exceeds $400,000, and

    • (d) the fiscal quarter of the registrant immediately before the first fiscal quarter of the registrant that includes a reporting period of the registrant in which the registrant ceases to be a specified registrant.

  • SOR/99-368, s. 5
  • SOR/2012-191, s. 14

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