T-0.1 - Act respecting the Québec sales tax

Section 197.4 Disposition versions

2013-01-01

197.4. A supply made by a financial institution of a financial service that relates to an insurance policy issued by the institution (other than a service that relates to investments made by the institution) is a zero-rated supply to the extent that

(1)  in the case where the policy is a life or accident and sickness insurance policy (other than a group insurance policy), the policy is issued in respect of an individual who is not resident in Canada at the time the policy becomes effective;

(2)  in the case where the policy is a group life or accident and sickness insurance policy, the policy relates to individuals not resident in Canada who are insured under the policy;

(3)  in the case where the policy is an insurance policy in respect of an immovable, the policy relates to an immovable situated outside Canada; and

(4)  in the case where the insurance policy is an insurance policy of any other kind, the policy relates to risks that are ordinarily situated outside Canada.

2012, c. 28, s. 61.