Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 48
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, A 5 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 (ii) 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 and that tax were equal to the amount included for the particular reporting period under subparagraph (ii) or (iii) of the description of A 4 in respect of the supply, and A 6 is (i) if an election under section 50 of those Regulations is in effect throughout the particular reporting period, the financial institution’s percentage for the series, for the participating province and for the taxation year, determined for financial institutions of that class in accordance with those Regulations, and (ii) in any other case, 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; B is the tax rate for the participating province; C is the rate set out in subsection 165(1); D is the total of (a) all amounts, each of which is an amount of tax (other than an amount of tax that is prescribed under any of section 40, paragraph 55(2)(a) and section 67 and of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations ) under subsection 165(2) in respect of a supply made in the participating province to the financial institution, or under section 212.1 that was calculated at the tax rate for the participating province, that (i) became payable, or was paid without having become payable, during (A) the particular reporting period, or (B) any other reporting period of the financial institution that precedes the particular reporting period, provided that (I) the particular reporting period ends within two years after the end of the financial institution’s fiscal year that includes the other reporting period, and (II) the financial institution was a selected listed financial institution throughout the other reporting period, (ii) was not deducted in determining an amount that, under this subsection, is required to be added to or may be deducted from the net tax for any reporting period of the financial institution other than the particular reporting period, and (iii) is claimed by the financial institution in a return under this Division f