T-0.1 - Act respecting the Québec sales tax

Section 433.19.4 Disposition versions

2015-10-21

433.19.4. If a selected listed financial institution is not a selected listed financial institution for the purposes of Part IX of the Excise Tax Act (R.S.C. 1985, c. E-15) and it is an investment plan, it may,

(1)  where the financial institution is a stratified investment plan, elect that the value of A in the formula in the first paragraph of section 433.16.2 for a reporting period in a fiscal year in which the election is in effect be determined as if an election under section 50 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act were in effect throughout the reporting period; or

(2)  where the financial institution is an investment plan that is neither a non-stratified investment plan referred to in the fifth paragraph of section 433.16.2 nor a stratified investment plan, elect that the value of C in the formula in the first paragraph of section 433.16 for a reporting period in the fiscal year in which the election is in effect be determined as if an election under section 50 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations were in effect throughout the reporting period.

An election made under the first paragraph is not to become effective if, on the day on which the election is otherwise to become effective, an election made by the financial institution under section 433.19.1 or 433.19.11 in respect of a series, in the case of a stratified investment plan, or under section 433.19.1 or 433.19.10 in respect of the investment plan, in the case of a non-stratified investment plan, is in effect.

2015, c. 21, s. 753.