T-0.1 - Act respecting the Québec sales tax

Section 433.19.7 Disposition versions

2015-10-21

433.19.7. 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, in respect of a series of the investment plan, 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 subsection 1 of section 18 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 an investment plan (other than a stratified investment plan), elect, in respect of the investment plan, that the value of C in the formula in the first paragraph of section 433.16 for a reporting period in a fiscal year in which the election is in effect be determined as if an election under subsection 2 of section 18 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations in respect of the investment plan 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 the 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.