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

Section 433.16r4 Disposition versions

2017-04-12

433.16R4. For the purposes of subparagraph 2 of the third paragraph of section 433.16R11, the tax recovery rate of a financial institution for a specified class of specified property or service for a particular reporting period of the financial institution means,

(1)  if the specified class is qualifying fuel, the tax recovery rate of the financial institution for qualifying road vehicles for the particular reporting period, as determined under paragraph 2; and

(2)  for any specified class other than the specified class referred to in paragraph 1,

(a)  if an election under section 43 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act (R.S.C. 1985, c. E-15), or under section 433.16R5, is in effect throughout the particular reporting period, the percentage determined under subparagraph i of paragraph b of subsection 4 of section 42 of those Regulations for the particular reporting period or the percentage that would be so determined for that reporting period if the financial institution were a selected listed financial institution for the purposes of Part IX of that Act; and

(b)  in any other case, the percentage that would be determined under subparagraph ii of paragraph b of subsection 4 of section 42 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations for the particular reporting period if the financial institution were a selected listed financial institution for the purposes of Part IX of the Excise Tax Act and if

i.  a specified property or service under that subparagraph ii were a specified property or service; and

ii.  a specified class under that subparagraph ii were a specified class.

O.C. 320-2017, s. 4.