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62 If units of a series of an investment plan that is a selected listed financial institution are issued, distributed or offered for sale in a particular fiscal year that ends in a taxation year of the investment plan, if immediately before the issuance, distribution or offering for sale no units of the series are issued and outstanding and if no election is in effect under section 49, 63 or 64 in respect of the series and the particular fiscal year, the following rules apply:

• [...]

• (b) for each reporting period of the investment plan that precedes the reporting period of the investment plan that includes the reconciliation day, paragraph 228(2.1)(a) of the Act is adapted as follows:

  • (a) the person shall calculate in the interim return the amount (in this Part referred to as the “interim net tax”) that would be the net tax of the person for the reporting period if the description of A₆ in subsection 225.2(2), as adapted by subsection 48(1) of the Selected Listed Financial Institution Attribution Method (GST/HST) Regulations, were read as “in the case of a series of the financial institution in respect of which section 62 of the Selected Listed Financial Institution Attribution Method (GST/HST) Regulations applies for the fiscal year, is an estimate of the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, as determined by the financial institution, and, in the case of any other series of the financial institution, is the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, determined for financial institutions of that class in accordance with those Regulations”; and

• (c) for each fiscal quarter of the investment plan that precedes the fiscal quarter of the investment plan that includes the reconciliation day, subsection 237(1) of the Act is adapted as follows:

  • 237 (1) Where the reporting period of a registrant is a fiscal year, the registrant shall, within one month after the end of each fiscal quarter of the registrant ending in the reporting period, pay to the Receiver General an instalment equal to 1/4 of the amount that would be the net tax for the reporting period if the description of A₆ in subsection 225.2(2), as adapted by subsection 48(1) of the Selected Listed Financial Institution Attribution Method (GST/HST) Regulations, were read as “in the case of a series of the financial institution in respect of which section 62 of the Selected Listed Financial Institution Attribution Method (GST/HST) Regulations applies for the fiscal year, is an estimate of the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, as determined by the financial institution, and, in the case of any other series of the financial institution, is the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, determined for financial institutions of that class in accordance with those Regulations”.

• (d) if the reconciliation day is not included in the particular fiscal year,

  • (i) for the purposes of these Regulations and the description of A₆ in subsection 225.2(2) of the Act, as adapted by subsection 48(1), and despite sections 19 and 30, the investment plan’s percentage for the series, for a participating province and for the preceding taxation year is equal to whichever of the following is applicable:

    • (A) the estimate of that percentage that was used for the purposes of paragraph 228(2.1)(a) of the Act, as adapted by paragraph (b), in determining the interim net tax for the reporting periods of the investment plan that are included in the particular fiscal year, or

    • (B) the estimate of that percentage that was used for the purposes of subsection 237(1) of the Act, as adapted by paragraph (c), in determining the instalments for the fiscal quarters of the investment plan ending in the particular fiscal year,

  • (ii) for the purposes of these Regulations and the description of A₆ in subsection 225.2(2) of the Act, as adapted by subsection 48(1), and despite sections 19 and 30, the investment plan’s percentage for the series, for a participating province and for the taxation year in which the particular fiscal year ends is equal to

    [...]

[...]

Marginal note:Adaptation of subsection 225.2(2) of Act — stratified plans

• 48 (1) In applying subsection 225.2(2) of the Act for the determination of the net tax for a particular reporting period in a fiscal year that ends in a taxation year of a stratified investment plan, the formula in that subsection and the descriptions for that formula are adapted as follows:

  [A × (B/C)] – D + E

  where

  A 

  is the total of all amounts, each of which is the amount determined for a series of the financial institution (other than a provincial series of the financial institution for the fiscal year) and is equal to

  • (a) if an election under section 49 or 64 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations is in effect in respect of the series throughout the particular reporting period, the total of all amounts, each of which is the positive or negative amount determined for a particular day in the particular reporting period, by the formula

    (A₁ – A₂) × A₃

    where

    A₁ 

    is the total of

    • (i) all amounts of tax (other than an amount of tax that is prescribed under any of section 40, paragraph 55(2)(a) and section 67 of those Regulations) in respect of a supply or importation of property or a service that became payable under any of subsection 165(1) and sections 212, 218 and 218.01 by the financial institution on the particular day or that was paid by the financial institution on the particular day without having become payable, to the extent that the property or service was acquired or imported for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations,

    • (ii) all amounts each of which is tax under subsection 165(1) in respect of a supply (other than a supply to which subparagraph (iii) applies) of property or a service made by a person to the financial institution that would, in the absence of an election made under section 150, have become payable by the financial institution on the particular day, to the extent that the property or service was acquired for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations, and

    • (iii) all amounts each of which is an amount — in respect of a supply of property or a service that is made on the particular day by another person to the financial institution and to which an election made by the financial institution under subsection (4) applies — equal to tax calculated at the rate set out in subsection 165(1) on the cost to the other person of supplying the property or service to the financial institution excluding any remuneration to employees of the other person, the cost of financial services and tax under this Part, to the extent that the property or service was acquired for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations,

    A₂ 

    is the total of

    • (i) all amounts each of which is the amount determined by the formula

      F × G

      where

      F 

      is an input tax credit (other than an input tax credit in respect of an amount of tax that is prescribed under any of section 40, paragraph 55(2)(a) and section 67 of those Regulations) of the financial institution for the particular reporting period or preceding reporting periods of the financial institution in respect of the acquisition or importation of property or a service that is claimed by the financial institution in the return under this Division filed by the financial institution for the particular reporting period, to the extent that the property or service was acquired or imported for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations, and

      G 

      is the extent (expressed as a percentage) to which the amount determined for F was not included in the determination of A₂ for any other day in the particular reporting period, and

    A₃ 

    is the financial institution’s percentage for the series and for the participating province, determined for financial institutions of that class in accordance with those Regulations,

    • (i) as of the first business day of the calendar quarter that includes the particular day, or any other day of that quarter that the Minister may allow on application by the financial institution, if the election under section 49 or 64 of those Regulations indicates that the financial institution’s percentages are to be determined on a quarterly basis,

    • (ii) as of the first business day of the calendar month that includes the particular day, or any other day of that month that the Minister may allow on application by the financial institution, if the election under section 49 or 64 of those Regulations in respect of the series indicates that the financial institution’s percentages for the series are to be determined on a monthly basis,

    • (iii) as of the first business day of the week that includes the particular day, or any other day of that week that the Minister may allow on application by the financial institution, if the election under section 49 or 64 of those Regulations in respect of the series indicates that the financial institution’s percentages for the series are to be determined on a weekly basis, or

    • (iv) as of the particular day in any other case, or

  • (b) if no election under section 49 or 64 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations is in effect in respect of the series throughout the particular reporting period, the positive or negative amount determined by the formula

    (A₄ – A₅) × A₆

    where

    A₄ 

    is the total of

    • (i) all amounts of tax (other than an amount of tax that is prescribed under any of section 40, paragraphs 55(2)(a) and 63(a) and section 67 of those Regulations) in respect of a supply or importation of property or a service that became payable under any of subsection 165(1) and sections 212, 218 and 218.01 by the financial institution during the particular reporting period or that was paid by the financial institution during the particular reporting period without having become payable, to the extent that the property or service was acquired or imported for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations,

    • (ii) all amounts each of which is tax under subsection 165(1) in respect of a supply (other than a supply to which subparagraph (iii) applies) of property or a service made by a person to the financial institution that would, in the absence of an election made under section 150, have become payable by the financial institution during the particular reporting period, to the extent that the property or service was acquired for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations, and

    • (iii) all amounts each of which is an amount — in respect of a supply of property or a service that is made during the particular reporting period by another person to the financial institution and to which an election made by the financial institution under subsection (4) applies — equal to tax calculated at the rate set out in subsection 165(1) on the cost to the other person of supplying the property or service to the financial institution excluding any remuneration to employees of the other person, the cost of financial services and tax under this Part, to the extent that the property or service was acquired for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations,

    A₅ 

    is the total of

    • (i) all amounts, each of which is an input tax credit (other than an input tax credit in respect of an amount of tax that is prescribed under any of section 40, paragraphs 55(2)(a) and 63(a) and section 67 of those Regulations) of the financial institution for the particular reporting period or preceding reporting periods of the financial institution in respect of the acquisition or importation of property or a service that is claimed by the financial institution in the return under this Division filed by the financial institution for the particular reporting period, to the extent that the property or service was acquired or imported for consumption, use or supply in the course of the activities relating to the series, as determined under section 51 of those Regulations, and

• Marginal note:Adaptation of subsection 225.2(2) of Act — non-stratified plans with real-time

  (2) In applying subsection 225.2(2) of the Act for the determination of the net tax for a particular reporting period in a fiscal year that ends in a taxation year of a non-stratified investment plan and throughout which an election under section 49 or 61 is in effect, the formula in that subsection and the descriptions for that formula are adapted as follows:

  [A × (B/C)] – D + E

  where

  A 

  is the total of all positive or negative amounts, each of which is determined for a particular day in the particular reporting period by the formula

  (A₁ – A₂) × A₃

  where

  A₃ 

  is the financial institution’s percentage for the participating province, determined for financial institutions of that class in accordance with the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations,

  • (a) as of the first business day of the calendar quarter that includes the particular day, or any other day of that quarter that the Minister may allow on application by the financial institution, if the election under section 49 or 61 of those Regulations indicates that the financial institution’s percentages are to be determined on a quarterly basis,

  • (b) as of the first business day of the calendar month that includes the particular day, or any other day of that month that the Minister may allow on application by the financial institution, if the election under section 49 or 61 of those Regulations indicates that the financial institution’s percentages are to be determined on a monthly basis,

  • (c) as of the first business day of the week that includes the particular day, or any other day of that week that the Minister may allow on application by the financial institution, if the election under section 49 or 61 of those Regulations indicates that the financial institution’s percentages are to be determined on a weekly basis, or

  • (d) as of the particular day in any other case;

• Marginal note:Adaptation of C in subsection 225.2(2) of Act

  (3) If a selected listed financial institution is an investment plan, neither subsection (1) nor (2) applies in respect of a particular reporting period in a fiscal year that ends in a taxation year of the financial institution and no election under section 50 is in effect throughout the fiscal year, in determining the net tax for the particular reporting period, the description of C in the formula in subsection 225.2(2) of the Act is adapted to be read as “is the financial institution’s percentage for the participating province and for the preceding taxation year, determined for financial institutions of that class in accordance with the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations;”.

• Marginal note:Adaptation of subsection 225.2(7) of Act

  (4) In determining the net tax for a reporting period in respect of which subsection (1) or (2) applies, the reference in subsection 225.2(7) of the Act to “the description of F in subsection (2)” is adapted to be read as a reference to “the description of D in subsection (2) as adapted by section 48 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations”.

• Marginal note:Instalment base — investment plan with real-time

  (5) If an investment plan is a non-stratified investment plan and an election under section 49 or 61 is in effect throughout a fiscal year of the investment plan or if an investment plan is a stratified investment plan and an election under section 49 or 64 is in effect in respect of every series of the investment plan throughout a fiscal year of the investment plan, subsection 237(1) of the Act is adapted as follows for each reporting period of the investment plan in the fiscal year:

  [...]

• (6) If an investment plan is a stratified investment plan, if subsection (5) does not apply in respect of a reporting period of the investment plan and if an election under section 50 is in effect throughout the reporting period, the following rules apply:

  • (a) the description of A in the formula in subparagraph 237(2)(a)(i) of the Act is adapted for the reporting period to be read as “is the amount that would be the net tax for the particular reporting period if the description of A₆ in subsection 225.2(2), as adapted by subsection 48(1) of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations, were read as “is the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, determined for financial institutions of that class in accordance with the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations”, and”; and

  • (b) subparagraph 237(2)(a)(ii) of the Act is adapted as follows for the reporting period:

    • (ii) in any other case, the amount that would be the net tax for the particular reporting period if the description of A₆ in subsection 225.2(2), as adapted by subsection 48(1) of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations, were read as “is the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, determined for financial institutions of that class in accordance with the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations”, and

• (7) If neither subsection (5) nor (6) applies in respect of a reporting period of an investment plan and an election under section 50 is in effect throughout the reporting period, the following rules apply:

  • (a) the description of A in the formula in subparagraph 237(2)(a)(i) of the Act is adapted for the reporting period to be read as “is the amount that would be the net tax for the particular reporting period if the description of C in subsection 225.2(2) were read as “is the financial institution’s percentage for the participating province and for the preceding taxation year of the financial institution, determined for financial institutions of that class in accordance with the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations”, and”; and

  • (b) subparagraph 237(2)(a)(ii) of the Act is adapted as follows for the reporting period:

    • (ii) in any other case, the amount that would be the net tax of the person for the particular reporting period if the description of C in subsection 225.2(2) were read as “is the financial institution’s percentage for the participating province and for the preceding taxation year of the financial institution, determined for financial institutions of that class in accordance with the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations”, and

• Marginal note:Interim remittance — real-time

  (8) If no election under section 50 is in effect throughout a fiscal year of an investment plan, if an election under section 49 or 61 is in effect throughout a fiscal year of a non-stratified investment plan or if an election under section 49 or 64 is in effect in respect of every series of a stratified investment plan throughout a fiscal year of the investment plan, paragraph 228(2.1)(a) of the Act is adapted as follows for each reporting period of the investment plan in the fiscal year:

  • (a) the person shall calculate in the interim return the amount (in this Part referred to as the “interim net tax”) that is the net tax of the person for the reporting period; and

• Marginal note:Interim remittance — stratified plans

  (9) If an investment plan is a stratified investment plan and neither subsection (8) nor paragraph 62(b) apply in respect of a reporting period of the investment plan, paragraph 228(2.1)(a) of the Act is adapted as follows for the reporting period:

  • (a) the person shall calculate in the interim return the amount (in this Part referred to as the “interim net tax”) that would be the net tax of the person for the reporting period if the description of A₆ in subsection 225.2(2), as adapted by subsection 48(1) of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations, were read as “is the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, determined for financial institutions of that class in accordance with the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations”; and

• Marginal note:Interim remittance — other cases

  (10) If none of subsections (8) and (9) and paragraph 59(b) apply in respect of a reporting period of an investment plan, paragraph 228(2.1)(a) of the Act is adapted as follows for the reporting period:

  • (a) the person shall calculate in the interim return the amount (in this Part referred to as the “interim net tax”) that would be the net tax of the person for the reporting period if the description of C in subsection 225.2(2) were read as “is the financial institution’s percentage for the participating province and for the preceding taxation year, determined in accordance with the prescribed rules that apply to financial institutions of that class”; and

[...]

46 For the purpose of the description of G in subsection 225.2(2) of the Act, the following are prescribed amounts for a particular reporting period in a fiscal year that ends in a taxation year of a selected listed financial institution and for a participating province:

• (a) the positive or negative amount determined by the formula

  G₁ – [(G₂ – G₃) × G₄ × (G₅/G₆)]

  where

  G₁ 

  is the total of

  • (i) all amounts each of which is an amount that was paid or that became payable by the financial institution as or on account of tax under subsection 165(2) of the Act and that was adjusted, refunded or credited under section 232 of the Act in the particular reporting period, to the extent that the amount was included in the total F amounts for any reporting period, including the particular reporting period, of the financial institution,

  • (ii) if, under section 252.4 or 252.41 of the Act, a person during the particular reporting period pays to, or credits in favour of, the financial institution an amount as or on account of a rebate, all amounts each of which is an amount so paid or credited to the financial institution to the extent that the amount is in respect of tax under subsection 165(2) or section 212.1 of the Act and was included in the total F amounts for any reporting period, including the particular reporting period, of the financial institution,

  G₂ 

  is the total of

  • (i) all amounts each of which is an amount that was paid or that became payable by the financial institution as or on account of tax under subsection 165(1) of the Act and that was adjusted, refunded or credited under section 232 of the Act in the particular reporting period, to the extent that the amount was in the total A amounts for any reporting period, including the particular reporting period, of the financial institution,

  • (ii) if, under section 252.4 or 252.41 of the Act, a person during the particular reporting period pays to, or credits in favour of, the financial institution an amount as or on account of a rebate, all amounts each of which is an amount so paid or credited to the financial institution, to the extent that the amount is in respect of tax under any of subsection 165(1) and sections 212, 218 and 218.01 of the Act and was included in the total A amounts for any reporting period, including the particular reporting period, of the financial institution,

  G₃ 

  is the total of

  • [...]

  • (iii) all amounts, each of which is

    • [...]

    • (C) if a tax adjustment note is issued to the financial institution under subsection 232.01(3) of the Act in respect of all or part of a specified resource, if a supply of the specified resource or part is deemed for the purposes of section 232.01 of the Act to have been received by the financial institution under subparagraph 172.1(5)(d)(i) or (5.1)(d)(i) of the Act and if tax in respect of the supply is deemed for the purposes of section 232.01 of the Act to have been paid on a particular day under subparagraph 172.1(5)(d)(ii) or (5.1)(d)(ii) or paragraph 172.1(8.01)(b) of the Act by the financial institution, an amount that the financial institution would be required by paragraph 232.01(5)(c) of the Act to pay during the particular reporting period to the Receiver General as a result of the issuance of the tax adjustment note if the financial institution were a selected listed financial institution on the particular day, or

    • (D) if a tax adjustment note is issued to the financial institution under subsection 232.02(2) of the Act in respect of employer resources, if particular supplies (as referred to in subsection 232.02(4) of the Act) of those employer resources are deemed for the purposes of section 232.02 of the Act to have been received by the financial institution under subparagraph 172.1(6)(d)(i) or (6.1)(d)(i) of the Act and if tax in respect of each of the particular supplies is deemed for the purposes of section 232.02 of the Act to have been paid under subparagraph 172.1(6)(d)(ii) or (6.1)(d)(ii) or paragraph 172.1(8.01)(b) of the Act by the financial institution, an amount that the financial institution would be required by paragraph 232.02(4)(c) of the Act to pay during the particular reporting period to the Receiver General as a result of the issuance of the tax adjustment note if the financial institution were a selected listed financial institution on the first day on which an amount of tax is deemed for the purposes of section 232.02 of the Act to have been paid in respect of the particular supplies,

• [...]

• (c) if the participating province is Ontario, Nova Scotia or British Columbia, the positive or negative amount determined by the formula

  [(G₁₃ – G₁₄) × G₁₅ × (G₁₆/G₁₇)] – G₁₈

  where

  G₁₃ 

  is the total of

  • [...]

  • (ii) if the particular reporting period begins before July 1, 2010 and ends on or after that day and if section 67 does not apply to the financial institution, all amounts, each of which is determined by the following formula in respect of tax under any of subsection 165(1) and sections 212 and 218 of the Act that became payable by the financial institution during the particular reporting period or that was paid by the financial institution without having become payable during the particular reporting period — provided that the tax is in respect of property that is in whole or in part delivered or made available after the particular reporting period or in respect of a service that is rendered in whole or in part after the particular reporting period — or in respect of tax under section 218.01 of the Act that became payable by the financial institution during the particular reporting period, or that was paid by the financial institution without having become payable during the particular reporting period, and that is determined for a specified year of the financial institution that ends after the particular reporting period:

    (A – B) × (C/D) × E

    where

    E 

    is

    • [...]

    • (B) in any other case, 100% less the extent (expressed as a percentage) to which the property is delivered or made available, or the service is rendered, before the end of the particular reporting period, and

  G₁₄ 

  is the total of

  • (i) all amounts, each of which is an amount determined by the following formula in respect of tax under any of subsection 165(1) and sections 212 and 218 of the Act that became payable by the financial institution during the particular reporting period or that was paid by the financial institution without having become payable during the particular reporting period — provided that the tax is in respect of a supply or importation of property (other than real property) that is in whole or in part delivered or made available before the reporting period of the financial institution that includes July 1, 2010, in respect of a supply of real property the ownership or possession of which is transferred before that reporting period or in respect of a supply of a service that is rendered in whole or in part before that reporting period — or in respect of tax under section 218.01 of the Act that became payable by the financial institution during the particular reporting period, or that was paid by the financial institution without having become payable during the particular reporting period, and that is determined for a specified year of the financial institution that ends before July 1, 2010:

    (A – B) × (C/D) × E

    where

    E 

    is

    • [...]

    • (B) in any other case, the extent (expressed as a percentage) to which the property is delivered or made available, or the service is rendered, before the reporting period of the financial institution that includes July 1, 2010,

  • (ii) if the particular reporting period begins after June 2010, all amounts, each of which is an amount determined by the following formula in respect of tax under any of subsection 165(1) and sections 212 and 218 of the Act that became payable by the financial institution during the particular reporting period or that was paid by the financial institution without having become payable during the particular reporting period — provided that the tax is in respect of a supply or importation of property (other than real property) that is in whole or in part delivered or made available during another reporting period of the financial institution that begins before July 1, 2010 and ends on or after that day, in respect of a supply of real property the ownership or possession of which is transferred during the other reporting period or in respect of a service that is rendered in whole or in part during the other reporting period — or in respect of tax that became payable under section 218.01 of the Act by the financial institution during the particular reporting period, or that was paid by the financial institution without having become payable during the particular reporting period, and that is determined for a specified year of the financial institution that begins before July 1, 2010 and ends on or after that day:

    (A – B) × (C/D) × E

    where

    E 

    is

    • [...]

    • (B) in any other case, the extent (expressed as a percentage) to which the property is delivered or made available, or the service is rendered, during the other reporting period,

  G₁₈ 

  is the total of all amounts, each of which is a particular amount of tax that was paid or became payable by the financial institution under any of subsection 165(2) and section 212.1 of the Act in respect of a supply or importation of property or a service in respect of which tax under any of subsection 165(1) and sections 212, 218 and 218.01 of the Act became payable by the financial institution, or was paid by the financial institution without having become payable, in the particular reporting period of the financial institution that ends after June 2010 — to the extent that the particular amount of tax has not been included in the total F amounts for any reporting period, including the particular reporting period, of the financial institution — provided that the particular amount of tax

  • (i) is payable as a consequence of the application of Part 3 of the New Harmonized Value-added Tax System Regulations or Divisions 2 and 3 of Part 9 of the New Harmonized Value-added Tax System Regulations, No. 2, or

  • (ii) is payable at the rate of 10% as a consequence of the application of the Nova Scotia HST Regulations, 2010;

• (d) if the participating province is Ontario, British Columbia or Prince Edward Island, the positive or negative amount determined by the formula

  [G₁₉ × G₂₀ × (G₂₁/G₂₂) × G₂₃] – G₂₄

  where

  G₁₉ 

  is

  • (i) if the financial institution is a large business at any time in the particular reporting period, the total of all amounts, each of which is determined for a specified class of specified property or service by the formula

    A × B × C

    where

    A 

    is the total of

    • [...]

    • (D) all amounts each of which is an amount of tax (other than an amount of tax that is a prescribed amount of tax for the purposes of paragraph (a) of the description of A in subsection 225.2(2) of the Act) that would have been payable under any of subsection 165(1) and sections 212, 218 and 218.01 of the Act by the financial institution during the particular reporting period in respect of a supply or importation of property or a service multiplied by the specified extent of the property or service in respect of the specified class for the participating province and for the particular reporting period if,

      • (I) in the case where the property or a service is acquired or imported by the financial institution for consumption, use or supply exclusively in the course of commercial activities and, as a result of the consumption, use or supply exclusively in the course of commercial activities, no tax under section 212 or 218 of the Act is payable in respect of the acquisition or importation under that section, tax under section 212 or 218 of the Act had been payable in respect of the acquisition or importation,

  G₂₄ 

  is the total of all amounts, each of which is determined — for a selected motor vehicle that the financial institution, in the particular reporting period, either supplies by way of sale to a person that is not related to the financial institution or removes from Canada and registers in another country (other than, if the participating province is British Columbia, a selected motor vehicle that is supplied by way of sale or registered in another country on or after April 1, 2013) and in respect of the last acquisition or importation of which, in another reporting period of the financial institution, the financial institution included an amount under the description of G₁₉ in determining its net tax for the other reporting period — by the formula

  A × B × (C/D) × E × (F/G)

  where

  C 

  is the tax rate for the participating province as of the last day of the other reporting period,

• (e) if the particular reporting period begins before July 1, 2010 and ends on or after that day and if the participating province is Nova Scotia, New Brunswick or Newfoundland and Labrador, the negative amount determined by the formula

  –1 × [(G₂₅ × G₂₆ × 8/5) + G₂₇]

  where

  G₂₅ 

  is the total of all amounts, each of which is an amount of tax under any of subsections 165(1) and sections 212 and 218 of the Act in respect of a supply or importation of property or service for consumption or use exclusively in Ontario or British Columbia that became payable by the financial institution, or that was paid by the financial institution without having become payable, during a reporting period of the financial institution that precedes the particular reporting period, to the extent that the amount is included in the total A amounts for a reporting period preceding the particular reporting period and is not included in the total B amounts for any reporting period, including the particular reporting period, of the financial institution, provided that tax is payable in respect of the supply or importation under any of subsection 165(2) and section 212.1 of the Act as a consequence of the application of Part 3 of the New Harmonized Value-added Tax System Regulations or Divisions 2 and 3 of Part 9 of the New Harmonized Value-added Tax System Regulations, No. 2,

  G₂₇ 

  is

  • (i) if section 67 applies to the financial institution, the total of all amounts, each of which

    • (A) is determined for a claim period (as defined in subsection 261.01(1) of the Act) of the financial institution that ends before July 2010 and that is included in the fiscal year of the financial institution that includes the particular reporting period, during which the financial institution was a pension entity and a selected listed financial institution and in respect of which the pension entity has made an application for a rebate under subsection 261.01(2) of the Act, and

    • (B) is equal to the amount of the rebate that would be payable under subsection 261.01(2) of the Act for the claim period if

      • [...]

      • (II) the amount of the rebate were determined as though the pension rebate amount, as defined in subsection 261.01(1) of the Act, of the financial institution for the claim period were equal to 33% of the total of all amounts, each of which is an amount of tax under subsection 165(2) in respect of a supply of property or a service made in the participating province, or under section 212.1 in respect of an importation of goods for use in the participating province, that became payable by the financial institution during the claim period, or was paid by the financial institution during the claim period without having become payable, provided that

        • 1 the financial institution acquired the property or service or imported the goods, as the case may be, for consumption use or supply in respect of a pension plan,

        • [...]

        • 3 the amount of tax is not a recoverable amount (as defined in subsection 261.01(1) of the Act) in respect of the claim period, and

• [...]

• (g) if the participating province is Prince Edward Island, the positive or negative amount determined by the formula

  [(G₃₄ – G₃₅) × G₃₆ × (G₃₇/G₃₈)] – G₃₉

  where

  G₃₄ 

  is the total of

  • [...]

  • (ii) if the particular reporting period begins after March 2013, all amounts, each of which is determined by the following formula in respect of tax under any of subsection 165(1) and sections 212, 218 and 218.01 of the Act that was paid or became payable by the financial institution during another reporting period of the financial institution that includes April 1, 2013 and in respect of which the financial institution has claimed an input tax credit in the return for the particular reporting period under Division V of Part IX of the Act:

    A × B × (C/D)

    where

    B 

    is the extent (expressed as a percentage) to which the amount of that tax was included in the total B amounts for the particular reporting period,

  • (iii) if the particular reporting period begins before April 1, 2013 and ends on or after that day, all amounts, each of which is determined by the following formula in respect of tax under any of subsection 165(1) and sections 212 and 218 of the Act that became payable by the financial institution during the particular reporting period or that was paid by the financial institution without having become payable during the particular reporting period — provided that the tax is in respect of property that is in whole or in part delivered or made available after the particular reporting period or in respect of a service that is rendered in whole or in part after the particular reporting period — or in respect of tax under section 218.01 of the Act that became payable by the financial institution during the particular reporting period, or that was paid by the financial institution without having become payable during the particular reporting period, and that is determined for a specified year of the financial institution that ends after the particular reporting period:

    (A – B) × (C/D) × E

    where

    E 

    is

    • [...]

    • (B) in any other case, 100% less the extent (expressed as a percentage) to which the property is delivered or made available, or the service is rendered, before the end of the particular reporting period, and

  G₃₅ 

  is the total of

  • (i) all amounts, each of which is an amount determined by the following formula in respect of tax under any of subsection 165(1) and sections 212 and 218 of the Act that became payable by the financial institution during the particular reporting period or that was paid by the financial institution without having become payable during the particular reporting period — provided that the tax is in respect of a supply or importation of property (other than real property) that is in whole or in part delivered or made available before the reporting period of the financial institution that includes April 1, 2013, in respect of a supply of real property the ownership or possession of which is transferred before that reporting period or in respect of a supply of a service that is rendered in whole or in part before that reporting period — or in respect of tax under section 218.01 of the Act that became payable by the financial institution during the particular reporting period, or that was paid by the financial institution without having become payable during the particular reporting period, and that is determined for a specified year of the financial institution that ends before April 2013:

    (A – B) × (C/D) × E

    where

    E 

    is

    • [...]

    • (B) in any other case, the extent (expressed as a percentage) to which the property is delivered or made available, or the service is rendered, before the reporting period of the financial institution that includes April 1, 2013,

  • (ii) if the particular reporting period begins after March 2013, all amounts, each of which is an amount determined by the following formula in respect of tax under any of subsection 165(1) and sections 212 and 218 of the Act that became payable by the financial institution during the particular reporting period or that was paid by the financial institution without having become payable during the particular reporting period — provided that the tax is in respect of a supply or importation of property (other than real property) that is in whole or in part delivered or made available during another reporting period of the financial institution that begins before April 1, 2013 and ends on or after that day, in respect of a supply of real property the ownership or possession of which is transferred during the other reporting period or in respect of a service that is rendered in whole or in part during the other reporting period — or in respect of tax that became payable under section 218.01 of the Act by the financial institution during the particular reporting period, or that was paid by the financial institution without having become payable during the particular reporting period, and that is determined for a specified year of the financial institution that begins before April 1, 2013 and ends on or after that day:

    (A – B) × (C/D) × E

    where

    E 

    is

    • [...]

    • (B) in any other case, the extent (expressed as a percentage) to which the property is delivered or made available, or the service is rendered, during the other reporting period, and

  G₃₉ 

  is the total of all amounts, each of which is a particular amount of tax that was paid or became payable by the financial institution under any of subsection 165(2) and section 212.1 of the Act in respect of a supply or importation of property or a service in respect of which tax under any of subsection 165(1) and sections 212, 218 and 218.01 of the Act became payable by the financial institution, or was paid by the financial institution without having become payable, in the particular reporting period of the financial institution that ends after March 2013 — to the extent that the particular amount of tax has not been included in the total F amounts for any reporting period, including the particular reporting period, of the financial institution — provided that the particular amount of tax is payable as a consequence of the application of Part 3.1 of the New Harmonized Value-added Tax System Regulations or Divisions 2 and 3 of Part 9.1 of the New Harmonized Value-added Tax System Regulations, No. 2;

• (h) if the particular reporting period begins before April 1, 2013 and ends on or after that day and if the participating province is Ontario, Nova Scotia, New Brunswick, British Columbia or Newfoundland and Labrador, the negative amount determined by the formula

  –1 × G₄₀ × G₄₁ × (G₄₂/G₄₃)

  where

  G₄₀ 

  is the total of all amounts, each of which is an amount of tax under any of subsection 165(1) and sections 212 and 218 of the Act in respect of a supply or importation of property or service for consumption or use exclusively in Prince Edward Island that became payable by the financial institution, or that was paid by the financial institution without having become payable, during a reporting period of the financial institution that precedes the particular reporting period, to the extent that the amount is included in the total A amounts for a reporting period that precedes the particular reporting period and is not included in the total B amounts for any reporting period, including the particular reporting period, of the financial institution, provided that tax is payable in respect of the supply or importation under any of subsection 165(2) and section 212.1 of the Act as a consequence of the application of Part 3.1 of the New Harmonized Value-added Tax System Regulations or Divisions 2 and 3 of Part 9.1 of the New Harmonized Value-added Tax System Regulations, No. 2,

[...]

Marginal note:Definitions

• 42 (1) The following definitions apply in this Part.

  eligible roadway

  eligible roadway  has the same meaning as in section 26 of the New Harmonized Value-added Tax System Regulations, No. 2. (voie admissible)

  motor vehicle

  motor vehicle  has the same meaning as in section 26 of the New Harmonized Value-added Tax System Regulations, No. 2. (véhicule automobile)

  qualifying heating oil

  qualifying heating oil  has the same meaning as in section 1 of the Deduction for Provincial Rebate (GST/HST) Regulations. (huile de chauffage admissible)

  specified energy

  specified energy  has the same meaning as in section 26 of the New Harmonized Value-added Tax System Regulations, No. 2. (forme d’énergie déterminée)

  specified extent

  specified extent  of property or a service in respect of a specified class of specified property or service, for a province that is Ontario, British Columbia or Prince Edward Island and for a reporting period of a person, means the percentage that is equal to

  • (a) in the case where the specified class is qualifying telecommunications services, the property or service includes qualifying telecommunications services and other property or services that are not specified property or services (each of which is referred to in this paragraph as an “element”) and the consideration for the specified property or service and each element is not separately identified,

    [...]

  specified salary and wages

  specified salary and wages  has the same meaning as in subsection 31(1) of the New Harmonized Value-added Tax System Regulations, No. 2. (rémunération déterminée)

  specified year

  specified year  has the same meaning as in section 217 of the Act. (année déterminée)

  total A amounts

  total A amounts  for a reporting period of a selected listed financial institution means

  • (a) if the financial institution is a non-stratified investment plan and an election under section 49 or 61 in respect of the financial institution is in effect throughout the reporting period, the total of all amounts, each of which is the total for A₁ in subsection 225.2(2) of the Act, as adapted by these Regulations, for a day in the reporting period;

  • (b) if the financial institution is a stratified investment plan, the total of

    • (i) all amounts, each of which is the total for A₁ in subsection 225.2(2) of the Act, as adapted by these Regulations, for a series of the financial institution and for a day in the reporting period, and

    • (ii) all amounts, each of which is the total for A₄ in subsection 225.2(2) of the Act, as adapted by these Regulations, for a series of the financial institution and for the reporting period; and

  total B amounts

  total B amounts  for a reporting period of a selected listed financial institution means

  • (a) if the financial institution is a non-stratified investment plan and an election under section 49 or 61 in respect of the financial institution is in effect throughout the reporting period, the total of all amounts, each of which is the total for A₂ in subsection 225.2(2) of the Act, as adapted by these Regulations, for a day in the reporting period;

  • (b) if the financial institution is a stratified investment plan, the total of

    • (i) all amounts, each of which is the total for A₂ in subsection 225.2(2) of the Act, as adapted by these Regulations, for a series of the financial institution and for a day in the reporting period, and

    • (ii) all amounts, each of which is the total for A₅ in subsection 225.2(2) of the Act, as adapted by these Regulations, for a series of the financial institution and for the reporting period; and

  total F amounts

  total F amounts  for a reporting period of a selected listed financial institution means

  • (a) if the financial institution is a non-stratified investment plan and an election under section 49 or 61 in respect of the financial institution is in effect throughout the reporting period or if the financial institution is a stratified investment plan, the total for D in subsection 225.2(2) of the Act, as adapted by these Regulations, for the reporting period; and

• [...]

• (4) For the purposes of paragraph 46(d), the tax recovery rate of a financial institution for a specified class of specified property or service for a reporting period of the financial institution is

  • (a) if the specified class is qualifying fuel, the tax recovery rate of the financial institution for qualifying motor vehicles for the reporting period, as determined under paragraph (b);

[...]

Marginal note:Percentage — particular period

• 32 (1) If a selected listed financial institution is a non-stratified investment plan, other than an exchange-traded fund, and no election under section 49 or 61 is in effect in respect of the financial institution throughout a fiscal year of the financial institution that ends in a particular period and in a calendar year, the financial institution’s percentage for a participating province and for the particular period is

  • (a) in the case of any one participating province (in this section referred to as the “selected province”) having the highest tax rate on the first day of the fiscal year, the percentage determined by the formula

    A/B

    where

    A 

    is the total of all amounts, each of which is determined for an attribution point in respect of the financial institution for the particular period by the formula

    [(A₁ + A₂)/A₃] + [A₄ × ((A₁ + A₂)/A₅)] + [(1 – A₄) – (A₅/A₃)]

    where

    A₂ 

    is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person that is neither an individual nor a specified investor in the financial institution for the fiscal year and in respect of which the financial institution knows, on December 31 of the calendar year, the person’s investor percentage for each participating province as of the attribution point multiplied by the person’s investor percentage for the selected province as of the attribution point,

    A₄ 

    is the lesser of 0.1 and the amount determined by the formula

    C/D

    where

    C 

    is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person in respect of which the financial institution

    • (i) does not know, on December 31 of the calendar year, any part of the information in respect of those units that is described in whichever of subsections 52(3), (5) and (8) is applicable in respect of those units (which part is referred to in this description as the “missing information”), and

    A₅ 

    is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person

    • [...]

    • (ii) that is neither an individual nor a specified investor in the financial institution for the fiscal year and in respect of which the financial institution knows, on December 31 of the calendar year, the person’s investor percentage for each participating province as of the attribution point, and

  • (b) in the case of a participating province (other than the selected province) in which the financial institution has a permanent establishment in the particular period, the percentage determined by the formula

    A/B

    where

    A 

    is the total of all amounts, each of which is determined for an attribution point in respect of the financial institution for the particular period by the formula

    [(A₁ + A₂)/A₃] + [A₄ × ((A₁ + A₂)/A₅)]

    where

    A₂ 

    is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person that is neither an individual nor a specified investor in the financial institution for the fiscal year and in respect of which the financial institution knows, on December 31 of the calendar year, the person’s investor percentage for each participating province as of the attribution point multiplied by the person’s investor percentage for the participating province as of the attribution point,

    A₄ 

    is the lesser of 0.1 and the amount determined by the formula

    C/D

    where

    C 

    is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person in respect of which the financial institution

    • (i) does not know, on December 31 of the calendar year, any part of the information in respect of those units that is described in whichever of subsections 52(3), (5) and (8) is applicable in respect of those units (which part is referred to in this description as the “missing information”), and

    A₅ 

    is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person

    • [...]

    • (ii) that is neither an individual nor a specified investor in the financial institution for the fiscal year and in respect of which the financial institution knows, on December 31 of the calendar year, the person’s investor percentage for each participating province as of the attribution point, and

• Marginal note:Attribution of unit holders to a participating province

  (2) For the purposes of subsection (1), if, for any attribution point in respect of an investment plan for a particular period in which a fiscal year of the investment plan ends, the total of all amounts — each of which is the total value of the particular units of the investment plan held on the attribution point either by a person that is an individual or a specified investor in the investment plan for the fiscal year and in respect of which the investment plan knows, on December 31 of the calendar year in which the fiscal year ends, whether or not the person is resident in Canada on the attribution point and, in the case of individuals and specified investors resident in Canada, the province in which the person is resident on the attribution point or by a person that is neither an individual nor a specified investor in the investment plan for the fiscal year and in respect of which the investment plan knows, on December 31 of the calendar year, the person’s investor percentage for each participating province as of the attribution point — is less than 50% of the total value of the units of the investment plan on the attribution point, the following rules apply:

  [...]

• [...]

• Marginal note:Plan mergers

  (4) Despite subsection (1), if a plan merger occurs between two or more investment plans (each of which is referred to in this subsection as a “predecessor”) occurs on a particular day to form a particular non-stratified investment plan, other than an exchange-traded fund, that is a selected listed financial institution and no election under section 49 or 61 is in effect in respect of the particular investment plan throughout the fiscal year of the particular investment plan (in this subsection referred to as the “transitional fiscal year”) that includes the particular day, the following rules apply:

  • (a) if no election under section 50 is in effect throughout the transitional fiscal year, the particular investment plan’s percentage for a participating province and for the particular period (in this subsection referred to as the “preceding period”) that precedes the particular period in which the transitional fiscal year ends is equal to the particular amount that is the total of all amounts, each of which is determined for a particular predecessor by the formula

    A × B/C

    where

    A 

    is

    • (i) if the particular predecessor is a stratified investment plan, the total of all amounts, each of which is determined by the following formula for a series of the particular predecessor (in this subparagraph referred to as a “predecessor series”), units of which were converted, by any means, into units of the particular series:

      A₁ × A₂/A₃

      where

      A₁ 

      is

      • (A) if an election under section 49 or 64 is in effect in respect of the predecessor series immediately before the plan merger, the particular predecessor’s percentage for the predecessor series and for the participating province as of the last day on which that percentage is required to be determined for the purposes of subsection 225.2(2) of the Act, as adapted by these Regulations, before the plan merger, and

    • (ii) if the particular predecessor is a non-stratified investment plan in respect of which an election under section 49 or 61 is in effect immediately before the plan merger, the particular predecessor’s percentage for the participating province as of the last day on which that percentage is required to be determined for the purposes of subsection 225.2(2) of the Act, as adapted by these Regulations, before the plan merger, and

[...]