T-0.1 - Act respecting the Québec sales tax

Section 433.19.10 Disposition versions

2015-10-21

433.19.10. A selected listed financial institution that is a non-stratified investment plan throughout a particular reporting period in a particular fiscal year may elect in the prescribed form containing prescribed information that the value of A in the formula in the first paragraph of section 433.16.2 be determined as if an election under section 61 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act (R.S.C. 1985, c. E-15) had been made in respect of the particular fiscal year if

(1)  the investment plan is not a selected listed financial institution for the purposes of Part IX of the Excise Tax Act throughout the particular reporting period;

(2)  units of the investment plan are issued, distributed or offered for sale in the particular fiscal year and immediately before the issuance, distribution or offering for sale no units of the investment plan are issued and outstanding; and

(3)  no election under section 433.19.1 or the third paragraph of section 433.16 is in effect in respect of the investment plan and the particular fiscal year.

An election made under the first paragraph by a non-stratified investment plan is to specify whether the investment plan’s percentage as regards Québec, which is used in determining the value of A in the formula in the first paragraph of section 433.16.2, is to be determined by using investor percentages and whether that percentage is to be determined on a daily basis, a weekly basis, a monthly basis or a quarterly basis.

2015, c. 21, s. 753.