T-0.1 - Act respecting the Québec sales tax

Section 470.2 Disposition versions

2015-10-21

470.2. An investment plan that is a selected listed financial institution and the manager of the investment plan may jointly elect to have the third paragraph apply if, for the purposes of Part IX of the Excise Tax Act (R.S.C. 1985, c. E-15), the investment plan is a registrant and is not a selected listed financial institution.

The third paragraph applies when an investment plan that is a selected listed financial institution and the manager of the investment plan have made a joint election under subsection 1 of section 53 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act.

Despite paragraph 2 of section 468 and sections 470 and 470.1, any interim or final return that the investment plan would be required to file on or before a particular day under this subdivision, but for this section, must be filed by the manager of the investment plan if an election referred to in the first or second paragraph is in effect on the particular day.

If, immediately before the time at which an investment plan ceases to exist, an election referred to in the first or second paragraph is in effect, the return required to be filed under paragraph 1 of section 470.1 for the last reporting period of the investment plan and the returns required to be filed under paragraph 2 of that section for the reporting periods included in the last fiscal year of the investment plan must be filed by the manager of the investment plan.

An election under the first paragraph is to

(1)  be made in the prescribed form containing prescribed information;

(2)  set out the day on which the election is to become effective; and

(3)  be filed with the Minister, in the manner determined by the Minister, before the day on which the election is to become effective or any later day determined by the Minister.

2015, c. 21, s. 780.