New Harmonized Value-added Tax System Regulations — 58.1
t imposed under any of subsection 165(2), sections 212.1 and 218.1 and Division IV.1 of Part IX of the Act; (b) the amount determined by the formula A + (B/4) where A is the total of all amounts, each of which is determined, for a harmonized province, by the formula [C × D × (E/F) × (G/365)]/H where C is the financial institution’s instalment base for the particular reporting period determined under paragraph 237(2)(b) of the Act as if the financial institution were not a selected listed financial institution and tax were not imposed under any of subsection 165(2), sections 212.1 and 218.1 and Division IV.1 of Part IX of the Act, D is the financial institution’s percentage for the harmonized province and for the preceding taxation year, determined in accordance with the prescribed rules that apply to that financial institution, E is the tax rate for the harmonized province, F is 5%, G is the number of days in the particular reporting period after June 2010, and H is the number of fiscal quarters ending on or after July 1, 2010 and in the particular reporting period, and B is the financial institution’s instalment base for the particular reporting period determined under paragraph 237(2)(b) of the Act as if the financial institution were not a selected listed financial institution and tax were not imposed under any of subsection 165(2), sections 212.1 and 218.1 and Division IV.1 of Part IX of the Act; (c) the lesser of (i) 1/4 of the amount determined under paragraph 237(2)(a) of the Act, and (ii) the amount determined by the formula A + B + (C/4) where A is the total of all amounts, each of which is determined, for a harmonized province, by the formula [[(D – E) × F × (G/H) × (I/365)] – J]/K where D is the total of (A) all tax (other than an amount of tax that is prescribed under any of section 40, paragraphs 55(2)(a), 60(a) and 63(a) and section 67 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations ) that became 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 or that was paid by the financial institution during the particular reporting period without having become payable, (B) all amounts each of which is tax under subsection 165(1) of the Act in respect of a supply (other than a supply to which clause (C) applies) made to the financial institution that would, but for an election made under section 150 of the Act, have become payable by the financial institution during the particular reporting period, and (C) all amounts each of which is an amount, in respect of a supply made during the particular reporting period of property or a service to which an election made by the financial institution and another person under subsection 225.2(4) of the Act applies, equal to tax calculated 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 Part IX of the Act, E is the total of (A) all input tax credits (other than input tax credits in respect of an amount of tax that is prescribed under any of section 40, paragraphs 55(2)(a), 60(a) and 63(a) and section 67 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations ) of the financial institution for the particular reporting period or preceding reporting periods of the financial institution claimed by the financial institution in the return under Division V of Part IX of the Act filed by the financial institution for the particular reporting period, and (B) all amounts each of which would be an input tax credit of the financial institution for the particular reporting period of the financial institution in respect of property or a service if tax became payable during the particular reporting period in respect of the supply of the property or service equal to the amount incl