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

Section 1r1.1 Disposition versions

2021-03-10

1R1.1. For the purposes of the definition of “financial service” in section 1 of the Act, the following services are prescribed services for the purposes of subparagraph b of paragraph 17 of that definition when supplied by a supplier who provides administrative or management services to a person referred to in that paragraph:

(1)  the issuance of a financial instrument by, or the transfer of ownership of a financial instrument from, the supplier to the person;

(2)  the operation or maintenance of a charge, chequing, deposit, savings, loan or other account that the person has with the supplier; and

(3)  if the person is a trust governed by a self-directed registered disability savings plan, a self-directed registered education savings plan, a self-directed registered retirement income fund, a self-directed registered retirement savings plan or a self-directed tax-free savings account, the arranging for the issuance, renewal, variation or transfer of ownership of a financial instrument for the person.

For the purposes of the first paragraph, “registered disability savings plan”, “registered education savings plan”, “registered retirement income fund”, “registered retirement savings plan” and “tax-free savings account” have the meanings assigned by section 1 of the Taxation Act (chapter I-3).

O.C. 1463-2001, s. 2; O.C. 164-2021, s. 1.

2012-09-01

1R1.1. For the purposes of the definition of “financial service” in section 1 of the Act, the following services are prescribed services for the purposes of subparagraph b of paragraph 17 of that definition when supplied by a supplier who provides administrative or management services to a person referred to in that paragraph:

(1)  the issuance of a financial instrument by, or the transfer of ownership of a financial instrument from, the supplier to the person;

(2)  the operation or maintenance of a charge, chequing, deposit, savings, loan or other account that the person has with the supplier; and

(3)  if the person is a trust governed by a self-directed registered retirement savings plan or a self-directed registered retirement income fund, the arranging for the issuance, renewal, variation or transfer of ownership of a financial instrument for the person.

For the purposes of the first paragraph, “registered retirement income fund” and “registered retirement savings plan” have the meanings assigned by section 1 of the Taxation Act (chapter I-3).

O.C. 1463-2001, s. 2.