Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 32
ither 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: (a) the units of the investment plan, other than the particular units, are deemed to be held on the attribution point by a particular individual and not by any other person; (b) the particular individual is deemed to be resident on the attribution point in Canada and in the selected province referred to in subsection (1) for the particular period; and (c) the investment plan is deemed to know on December 31 of the calendar year that the particular individual is, on the attribution point, resident in Canada and in the selected province. Specified transactions (3) For the purposes of subsection (1), if no election under section 18 is in effect in respect of an investment plan throughout a fiscal year of the investment plan and a specified transaction occurs that is in relation to an attribution point in respect of the investment plan for a particular period in which the fiscal year ends, the following rules apply: (a) the units of the investment plan acquired in the specified transaction are deemed to be held on the attribution point by a particular individual and not by any other person; (b) the particular individual is deemed to be resident on the attribution point in Canada and in the selected province referred to in subsection (1) for the particular period; and (c) the investment plan is deemed to know on December 31 of the calendar year in which the fiscal year ends that the particular individual is resident in Canada and in the selected province on the attribution point. 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: A 1 × A 2 /A 3 where A 1 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 percen