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T-0.1 - Act respecting the Québec sales tax
Section 433.19.1
Disposition versions
433.19.1. 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 (other than a mortgage investment corporation), elect, in respect of a series of the investment plan (other than an exchange-traded series), 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 49 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act in respect of the series were in effect throughout the reporting period; or
(2) where the financial institution is a non-stratified investment plan (other than an exchange-traded fund or a mortgage investment corporation), 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 49 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations were in effect throughout the reporting period.
An election under the first paragraph is not to become effective if
(1) on the day on which the election is otherwise to become effective, an election made by the financial institution under section 433.19.7 or 433.19.11 in respect of the series, in the case of a stratified investment plan, or under section 433.19.7 or 433.19.10 in respect of the investment plan, in the case of a non-stratified investment plan, is in effect;
(2) on the day on which the election is otherwise to become effective, an election made by the financial institution under section 433.19.4 is in effect; or
(3) on 30 September immediately preceding the day on which the election is otherwise to become effective, less than 90% of the total value of the units of the series or of the investment plan, as the case may be, is held by individuals or specified investors in the investment plan.
