Streamlined Accounting (GST/HST) Regulations

21.2 (1) A registrant is a prescribed registrant who may make an election, to take effect on the first day of a reporting period of the registrant, to determine the net tax of the registrant in accordance with this Part if

• (a) the threshold amount for the fiscal year of the registrant that includes the reporting period does not exceed $1,000,000;

• (b) if the fiscal quarter of the registrant that includes the reporting period is not the first fiscal quarter in the fiscal year, the threshold amount for the fiscal quarter does not exceed $1,000,000;

• (c) the purchase threshold for the fiscal year does not exceed $4,000,000;

• (d) if the registrant is a public service body, it is reasonable to expect at the beginning of the reporting period that the purchase threshold for the registrant’s next fiscal year will not exceed $4,000,000; and

• (e) the registrant is not a person described in paragraph 149(1)(a) of the Act at the beginning of the reporting period.

(2) A registrant who has elected 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 earliest of

• (a) if the threshold amount for the second or third fiscal quarter in a fiscal year of the registrant exceeds $1,000,000, the end of the first fiscal quarter in that fiscal year for which the threshold amount exceeds $1,000,000,

• (b) if the threshold amount for a fiscal year of the registrant exceeds $1,000,000, the end of the first fiscal quarter in that fiscal year,

• (c) if the registrant is not a public service body and the purchase threshold of the registrant for a particular day exceeds $4,000,000, the end of the immediately preceding day,

• (d) if the registrant is a public service body and the purchase threshold for a fiscal year of the registrant exceeds $4,000,000, the end of the first fiscal quarter in that fiscal year, and

• (e) if the registrant becomes a person described in paragraph 149(1)(a) of the Act during a fiscal quarter of the registrant, the end of that fiscal quarter.