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T-0.1 - Act respecting the Québec sales tax
Section 42.0.15
Disposition versions
42.0.15. If a financial institution (other than a qualifying institution) has not made the election referred to in section 42.0.14 in respect of any of its fiscal years, the financial institution shall use a specified method to determine for the fiscal year the operative extent and the procurative extent of each of its non-attributable inputs.
Despite the first paragraph, if a financial institution (other than a qualifying institution) has not made the election referred to in section 42.0.14 in respect of any of its fiscal years and no specified method applies during the fiscal year to a particular non-attributable input of the financial institution, the financial institution shall use another attribution method to determine for the fiscal year the operative extent and the procurative extent of the particular non-attributable input.
The specified method used by a financial institution in accordance with the first paragraph, or the other attribution method used by the financial institution in accordance with the second paragraph, to determine the operative extent and the procurative extent of a non-attributable input for any of its fiscal years must be the same as that used, if applicable, by the financial institution for the fiscal year in respect of the non-attributable input in accordance with subsection 10 of section 141.02 of the Excise Tax Act (R.S.C. 1985, c. E-15) or subsection 11 of that section, as the case may be.
