T-0.1 - Act respecting the Québec sales tax

Section 424.1 Disposition versions

2011-04-01

424.1. Where a person makes a taxable supply that gives rise to an account receivable and at any time the person supplies by way of sale or assignment the debt, for the purposes of section 20 of the Tax Administration Act (chapter A-6.002) and sections 428 to 436.1, the following rules apply:

(1)  the person is deemed to have collected, at that time, the amount, if any, of the tax in respect of the taxable supply that was not collected by the person before that time; and

(2)  any amount collected by any person after that time on account of the tax payable in respect of the taxable supply is deemed not to be an amount collected as or on account of tax.

For the purposes of section 24.1 of that Act, the amount of the tax in respect of the taxable supply that gave rise to the account receivable and that is the subject of the sale or assignment is deemed not to be an amount of duties which must be paid to the Minister in accordance with a fiscal law.

This section does not apply where the person who makes a taxable supply that gives rise to an account receivable is not required to collect the tax payable in respect of that supply by reason of the application of the second paragraph of that section 422.

2003, c. 2, s. 344; 2010, c. 31, s. 175.

2003-07-03

424.1. Where a person makes a taxable supply that gives rise to an account receivable and at any time the person supplies by way of sale or assignment the debt, for the purposes of section 20 of the Act respecting the Ministère du Revenu (chapter M‐31) and sections 428 to 436.1, the following rules apply:

(1)  the person is deemed to have collected, at that time, the amount, if any, of the tax in respect of the taxable supply that was not collected by the person before that time; and

(2)  any amount collected by any person after that time on account of the tax payable in respect of the taxable supply is deemed not to be an amount collected as or on account of tax.

For the purposes of section 24.1 of that Act, the amount of the tax in respect of the taxable supply that gave rise to the account receivable and that is the subject of the sale or assignment is deemed not to be an amount of duties which must be paid to the Minister in accordance with a fiscal law.

This section does not apply where the person who makes a taxable supply that gives rise to an account receivable is not required to collect the tax payable in respect of that supply by reason of the application of the second paragraph of that section 422.

2003, c. 2, s. 344.