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T-0.1 - Act respecting the Québec sales tax
Section 458.5.4
Disposition versions
458.5.4. Where a particular fiscal year of an investment limited partnership begins in 2018 and includes 1 January 2019 and the investment limited partnership would be a selected listed financial institution throughout a reporting period in the particular fiscal year if the particular fiscal year began on 1 January 2019 and ended on 31 December 2019, the following rules apply:
(1) the particular fiscal year ends on 31 December 2018;
(2) subject to section 458.5.2, the fiscal years of the investment limited partnership are calendar years as of 1 January 2019;
(3) any election made by the investment limited partnership under section 458.4 ceases to have effect as of 1 January 2019; and
(4) if the first taxation year of the investment limited partnership that begins after 31 December 2018 does not begin on 1 January 2019, for the purposes of Title I (other than the definitions of “financial institution” and “listed financial institution” in section 1 and sections 349 and 350) the investment limited partnership is deemed, for the period beginning on 1 January 2019 and ending on the day preceding the first day of that taxation year, to be a financial institution, a listed financial institution and a person referred to in paragraph 9 of that definition of “listed financial institution”.
