Consolidated Statutes and Regulations
Consolidated Statutes
Consolidated Regulations
Annual Statutes and Regulations
Annual Statutes
Annual Regulations
Additional information
Québec Official Publisher
What’s new?
Information note
Policy of the Minister of Justice
Laws: Amendments
Laws: Provisions not in force
Laws: Provisions brought into force
Annual Statutes: PDF versions since 1996
Regulations: Amendments
Annual Regulations: PDF versions since 1996
Court Decisions
T-0.1 - Act respecting the Québec sales tax
Section 42.0.16
Disposition versions
42.0.16. 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 direct attribution method to determine for the fiscal year the operative extent and the procurative extent of each of its direct 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 direct attribution method applies during the fiscal year to a particular direct input of the financial institution, the financial institution shall use another attribution method to determine in the most direct manner for the fiscal year the operative extent and the procurative extent of the particular direct input.
The direct attribution 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 direct 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 direct input in accordance with subsection 12 of section 141.02 of the Excise Tax Act (R.S.C. 1985, c. E-15) or subsection 13 of that section, as the case may be.
