Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 18
Election — series 18 (1) A stratified investment plan that is a selected listed financial institution may make an election in respect of a series of the investment plan to have attribution points for the purposes of this Part for the series that are quarterly, monthly, weekly or daily, and that election is to be effective from the first day of a fiscal year of the investment plan. Election — investment plan (2) An investment plan (other than a stratified investment plan) that is a selected listed financial institution may make an election in respect of the investment plan to have attribution points for the purposes of this Part for the investment plan that are quarterly, monthly, weekly or daily, and that election is to be effective from the first day of a fiscal year of the investment plan. Effect of election (3) For the purposes of this Part, and despite the definition attribution point in subsection 16(1), if an election made under subsection (1) in respect of a series of an investment plan, or an election under subsection (2) in respect of an investment plan, is in effect throughout a fiscal year of the investment plan, attribution point in respect of the series or in respect of the investment plan, as the case may be, and for the taxation year in which the fiscal year ends means (a) if the election specifies that attribution points are to be quarterly, the last business day in each of March, June and September of the particular calendar year in which the fiscal year ends and December of the preceding calendar year, or any four days of the particular calendar year, each of which is in a different fiscal quarter in the fiscal year, that the Minister may allow on application by the investment plan; (b) if the election specifies that attribution points are to be monthly, each of the last business day of each month, or any other day of each month that the Minister may allow on application by the investment plan, in the 12-month period ending on September 30 of the calendar year in which the fiscal year ends; (c) if the election specifies that the attribution points are to be weekly, each of the last business day of each week, or any other day of each week that the Minister may allow on application by the investment plan, in the 12-month period ending on September 30 of the calendar year in which the fiscal year ends; and (d) if the election specifies that the attribution points are to be daily, each business day in the 12-month period ending on September 30 of the calendar year in which the fiscal year ends. Restriction (4) An election made under subsection (1) in respect of a series of an investment plan is not to become effective if, on the day on which the election is to come into effect, an election under subsection 49(1) or section 64 in respect of the series is in effect. Restriction (5) An election made under subsection (2) in respect of an investment plan is not to become effective if, on the day on which the election is to come into effect, an election under subsection 49(2) or section 61 in respect of the investment plan is in effect. Form of election (6) An election made under subsection (1) or (2) by an investment plan is to (a) be made in prescribed form containing prescribed information; (b) set out the first fiscal year of the investment plan during which the election is to be in effect; and (c) specify whether the attribution points in respect of the series or investment plan are to be quarterly, monthly, weekly or daily. Cessation (7) An election made under subsection (1) or (2) by a person that is an investment plan ceases to have effect on the earlier of (a) the first day of the fiscal year of the person in which the person ceases to be an investment plan or a selected listed financial institution, and (b) the day on which a revocation of the election becomes effective. Revocation (8) An investment plan that has made an election under subsection (1) or (2) may, in prescribed form containing prescribed inform