T-0.1 - Act respecting the Québec sales tax

Section 458.0.2.1 Disposition versions

2015-10-21

458.0.2.1. If a registrant is both a selected listed financial institution and a stratified investment plan that is not referred to in the second paragraph of section 458.0.1, in respect of a particular reporting period, and the registrant has made an election under section 433.19.4 or under section 50 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act (R.S.C. 1985, c. E-15), which election is in effect throughout the particular reporting period, section 458.0.2 is to be read

(1)  as if subparagraph b of subparagraph 1 of the first paragraph were replaced by the following subparagraph:

“(b) in any other case, the amount that would be the net tax for the particular reporting period if the value of A in the formula in the first paragraph of section 433.16.2 were determined, for that reporting period, with reference to paragraph b of subsection 6 of section 48 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act (R.S.C. 1985, c. E-15); and”; and

(2)  as if subparagraph 1 of the second paragraph were replaced by the following subparagraph:

“(1) A is the amount that would be the net tax for the particular reporting period if the value of A in the formula in the first paragraph of section 433.16.2 were determined, for that reporting period, with reference to paragraph a of subsection 6 of section 48 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations;”.

If a registrant is both a selected listed financial institution and an investment plan within the meaning of section 433.15.1 that is neither a stratified investment plan, nor an investment plan referred to in the fifth paragraph of section 433.16.2 in respect of a particular reporting period, and the registrant has made an election under section 433.19.4 or under section 50 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations, which election is in effect throughout the particular reporting period, section 458.0.2 is to be read

(1)  as if subparagraph b of subparagraph 1 of the first paragraph were replaced by the following subparagraph:

“(b) in any other case, the amount that would be the net tax for the particular reporting period if subparagraph b of subparagraph 3 of the second paragraph of section 433.16 were read as if “determined for the taxation year” were replaced by “determined for the preceding taxation year”; and”; and

(2)  as if subparagraph 1 of the second paragraph were replaced by the following subparagraph:

“(1) A is the amount that would be the net tax for the particular reporting period if subparagraph b of subparagraph 3 of the second paragraph of section 433.16 were read as if “determined for the taxation year” were replaced by “determined for the preceding taxation year”.”.

2015, c. 21, s. 772.