Excise Act, 2001 (S.C. 2002, c. 22)

Act current to 2013-04-29 and last amended on 2012-06-29. Previous Versions

Marginal note:Demand for return

169. The Minister may, on demand sent by the Minister, require any person to file, within any reasonable time stipulated in the demand, a return under this Act for any period designated in the demand.

  • 2002, c. 22, s. 169;
  • 2012, c. 19, s. 46.
Previous Version

Interest

Marginal note:Compound interest on amounts not paid when required

  • 170. (1) If a person fails to pay an amount to the Receiver General as and when required under this Act, the person shall pay to the Receiver General interest on the amount. The interest shall be compounded daily at the prescribed rate and computed for the period beginning on the first day after the day on which the amount was required to be paid and ending on the day the amount is paid.

  • Marginal note:Payment of interest that is compounded

    (2) For the purposes of subsection (1), interest that is compounded on a particular day on an unpaid amount of a person is deemed to be required to be paid by the person to the Receiver General at the end of the particular day, and, if the person has not paid the interest so computed by the end of the day after the particular day, the interest shall be added to the unpaid amount at the end of the particular day.

  • Marginal note:Period where interest not payable

    (3) Despite any other provision of this Act, if the Minister notifies a person that the person is required to pay a specified amount under this Act and the person pays the specified amount in full before the end of the period that the Minister specifies with the notice, interest is not payable on the specified amount for the period.

  • Marginal note:Minimum interest and penalty

    (4) If, at any time, a person pays an amount not less than the total of all amounts, other than interest and penalty payable under section 251.1, owing at that time to Her Majesty under this Act for a reporting period of the person and the total amount of interest and the penalty payable by the person under this Act for that period is not more than $25.00, the Minister may waive the total amount.

  • (5) [Repealed, 2003, c. 15, s. 92]

  • 2002, c. 22, s. 170;
  • 2003, c. 15, s. 92;
  • 2006, c. 4, s. 115;
  • 2010, c. 25, s. 113.
Previous Version
Marginal note:Compound interest on amounts payable by Minister

171. Interest shall be compounded daily at the prescribed rate on any amount payable by the Minister to a person. The interest shall be computed for the period beginning on the first day after the day on which the amount is required to be paid and ending on the day on which the amount is paid or is applied against an amount owed by the person to Her Majesty, unless this Act provides otherwise.

  • 2002, c. 22, s. 171;
  • 2003, c. 15, s. 93.
Previous Version
Marginal note:Application of interest provisions if Act amended

172. For greater certainty, if a provision of an Act amends this Act and provides that the amendment comes into force on, or applies as of, a particular day that is before the day on which the provision is assented to, the provisions of this Act that relate to the calculation and payment of interest apply in respect of the amendment as though the provision had been assented to on the particular day.