T-0.1, r. 2 - Regulation respecting the Québec sales tax

Section 433.16r19 Disposition versions

2017-04-12

433.16R19. If a selected listed financial institution is an individual, the positive amount determined by the following formula is a prescribed amount for a reporting period in a particular fiscal year that ends in a taxation year of the financial institution:

50% × G1 × G2 × (G3 / G4).

For the purposes of the formula in the first paragraph,

(1)  G1 is the portion of the amount referred to in subparagraph 2 of the second paragraph of section 433.16 of the Act for the particular reporting period in respect of property or a service acquired or imported into Canada for consumption or use in relation to the maintenance of a self-contained domestic establishment that includes a work space described in subparagraph i or ii of paragraph a.1 of subsection 1 of section 170 of the Excise Tax Act (R.S.C. 1985, c. E-15), other than property or a service acquired or imported into Canada for exclusive consumption or use in relation to that work space;

(2)  G2 is the specified percentage of the financial institution as regards Québec for the particular reporting period;

(3)  G3 is the tax rate specified in the first paragraph of section 16 of the Act; and

(4)  G4 is the tax rate specified in subsection 1 of section 165 of the Excise Tax Act.

For the purposes of this section, property or a service acquired or imported into Canada for consumption or use in relation to the maintenance of a self-contained domestic establishment includes property or a service relating to the maintenance, repair or improvement of the establishment but does not include the electricity, gas, fuel or steam used in lighting or heating the establishment.

O.C. 320-2017, s. 4.