Notifiable Transactions Regulations
5 (1) Subject to subsection (2), for the purposes of sections 109 and 110 of the Act, the gross revenues from sales of a person for an annual period shall be determined by aggregating the following amounts accruing to that person during that period:
(a) amounts accruing from the sale or lease of goods, other than amounts that are not properly included in revenue in accordance with the accounting principles referred to in paragraph 3(a), and
(b) amounts accruing from the rendering of services,
without deducting any expenses or other amounts incurred or provided for in relation to the sale or lease of goods or the rendering of services.
(2) In determining the gross revenues from sales, any amount that represents duplication arising from transactions between affiliates shall be deducted.
(3) Gross revenues from sales shall be expressed in Canadian dollars.
(4) The conversion into Canadian dollars of the gross revenues from sales reported in foreign currency shall be based on the noon exchange rate quoted by the Bank of Canada on the last day of the annual period for which the gross revenues from sales are to be determined in accordance with these Regulations.
- SOR/2000-8, s. 3
- SOR/2010-22, s. 11
- Date modified: