Section 7 — Excise Tax Act: Definition

In this section, month means a period beginning on a particular day in a calendar month and ending on the day immediately before the day in the next calendar month that has the same calendar number as the particular day; or if the next calendar month does not have a day that has the same calendar number as the particular day, the last day of that next calendar month. Every person who fails to file a return for a period as and when required under subsection 5(1) shall pay a penalty equal to the sum of an amount equal to 1% of the amount of tax unpaid at the expiration of the time for filing the return, and the amount obtained when one quarter of the amount determined under paragraph (a) is multiplied by the number of complete months, not exceeding 12, from the day on which the return was required to be filed to the day on which the return is filed. Every person who refuses or neglects to make a return as required by subsection 5(2) or (3) is liable to a penalty of ten dollars for each day of default or fifty dollars, whichever is the lesser.