New Harmonized Value-added Tax System Regulations, No. 2

Marginal note:Prescribed percentage — subsection 218.1(1) of Act

7.01 For the purposes of applying the description of C in paragraph 218.1(1)(a) of the Act and clause (B) of the description of C in paragraph 218.1(1)(b) of the Act in the determination, under one of those paragraphs, of an amount of tax in respect of a particular participating province,

• (a) the prescribed percentage in respect of a supply of property or a service made to a stratified investment plan with one or more provincial series is the total of all amounts, each of which is the extent (expressed as a percentage) to which the property or service was acquired for consumption, use or supply in the course of activities relating to a provincial series of the investment plan for the particular participating province, as determined in accordance with section 51 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations;

• (b) the prescribed percentage in respect of a supply of property or a service made to a provincial investment plan for the particular participating province is 100%; and

• (c) the prescribed percentage in respect of a supply of property or a service made to a provincial investment plan for a province other than the particular participating province is 0%.