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

Section 433.16.2r4 Disposition versions

2017-04-12

433.16.2R4. If a selected listed financial institution is a stratified investment plan that, in respect of a series and a particular fiscal year that ends in a particular taxation year, has made an election under the third paragraph of section 433.16.2 of the Act, or under section 63 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act (R.S.C. 1985, c. E-15), for each particular reporting period in the particular fiscal year that ends after the attribution point in respect of the series for the taxation year preceding the particular taxation year and for each particular reporting period in the fiscal year that follows the particular fiscal year, the amount determined by the following formula is a prescribed amount:

[(A − B) / C )] × D × (E / F).

For the purposes of the formula in the first paragraph,

(1)  A is the aggregate of all amounts each of which is a prescribed amount of tax under paragraph a of section 63 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations or that would be so prescribed if the investment plan were a selected listed financial institution for the purposes of Part IX of the Excise Tax Act;

(2)  B is the aggregate of all amounts each of which is an input tax credit of the investment plan under Part IX of the Excise Tax Act that is in respect of an amount of tax referred to in subparagraph 1;

(3)  C is the total of the number of particular reporting periods in the particular fiscal year that end after the attribution point and the number of reporting periods in the fiscal year of the investment plan that immediately follows the particular fiscal year;

(4)  D is,

(a)  if no election under section 50 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations, or under section 433.19.4 of the Act, is in effect throughout the particular fiscal year, the investment plan’s percentage that would be applicable for the series and as regards Québec for the taxation year preceding the particular taxation year for the purposes of subsection 2 of section 225.2 of the Excise Tax Act if Québec were a participating province within the meaning of subsection 1 of section 123 of that Act; and

(b)  if an election under section 50 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations, or under section 433.19.4 of the Act, is in effect throughout the particular fiscal year, the investment plan’s percentage that would be applicable for the series and as regards Québec for the particular taxation year for the purposes of subsection 2 of section 225.2 of the Excise Tax Act if Québec were a participating province within the meaning of subsection 1 of section 123 of that Act;

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

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

For the purposes of this section and subject to the first paragraph of section 433.19.18 of the Act, "attribution point" has the meaning assigned by paragraph a of subsection 2 of section 58 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations.

O.C. 320-2017, s. 4.