Excise Tax Act
Marginal note:Election for fiscal quarters
247 (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
- Date modified: