T-0.1 - Act respecting the Québec sales tax

Section 364 Disposition versions

1993-06-15

364. (Repealed).

1991, c. 67, s. 364; 1993, c. 19, s. 221.

1992-07-01

364. For the purposes of section 363, the rebate to which a particular individual is entitled in respect of a supply of a single unit residential complex or a residential unit held in co-ownership is equal to

(1)  where the total consideration is not more than $150 000, the amount determined by the formula

                (36 % x (A - B)) + B;

(2)  where the total consideration is more than $150 000 but less than $175 000, the amount determined by the formula

          (          ($175 000 - C) )Š          ( $4 514 x -------------- ) + B.Š          (             $25 000     )

For the purposes of these formulas,

(1)  A is the total tax paid by the particular individual;

(2)  B is the tax paid under section 16 in respect of the amount of the rebate to which the particular individual is entitled in respect of the supply of the residential complex or unit under subsection 2 of section 254 of the Excise Tax Act (Revised Statutes of Canada, 1985, chapter E-15);

(3)  C is the total consideration.

1991, c. 67, s. 364.