GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 51
Allocation of expenses to series 51 (1) For the purposes of these Regulations, the New Harmonized Value-added Tax System Regulations, No. 2 and subsection 225.2(2) of the Act, as adapted by subsection 48(1), and subject to subsections (2) and (3), for every property or service that a stratified investment plan acquires, imports or brings into a participating province, the stratified investment plan must determine the extent to which the property or service is acquired, imported or brought in for consumption, use or supply in the course of the activities relating to each series of the stratified investment plan. Requirement (2) For every property or service that is acquired, imported or brought into a participating province by a stratified investment plan, the total of all amounts, each of which is an extent, expressed as a percentage, in respect of the property or service determined in accordance with this section, must equal 100%. Method of allocating expenses (3) The methods used by a stratified investment plan to determine the extent to which properties or services are acquired, imported or brought into a participating province for consumption, use or supply in the course of the activities relating to each of its series must be fair and reasonable and must be used consistently throughout a fiscal year of the stratified investment plan. SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 52
eives the request. Qualifying investor status — non-stratified investment plans (9) Every person that holds units of a selected non-stratified investment plan and that is a qualifying investor in the investment plan for a calendar year must provide to the investment plan, on or before November 15 of the calendar year, (a) notice that the person is a qualifying investor in the investment plan for the calendar year; (b) the number of units held on September 30 of the calendar year by the person in the investment plan; and (c) the person’s investor percentage for each participating province as of September 30 of the calendar year. Qualifying investor status — stratified investment plans (10) Every person that holds units of a series (other than an exchange-traded series) of a selected stratified investment plan and that is a qualifying investor in the investment plan for a calendar year must provide to the investment plan, on or before November 15 of the calendar year, (a) notice that the person is a qualifying investor in the investment plan for the calendar year; (b) the number of units held on September 30 of the calendar year by the person in each series (other than an exchange-traded series) of the investment plan; and (c) the person’s investor percentage for each participating province as of September 30 of the calendar year. Use of information (11) A distributed investment plan that obtains any information in respect of a person in accordance with any of subsections (3) to (6) and (8) to (10) must not knowingly use, communicate, or allow to be used or communicated, otherwise than as required or authorized under the Act, these Regulations or any other regulation made under the Act, the information without the written consent of that person. Penalty — failure to provide information (12) Every person that fails to provide, on request made by a distributed investment plan under any of subsections (3) to (6) and (8), the information described in that subsection to the investment plan on or before the particular day described in that subsection, or that misstates such information to the investment plan, is liable to a penalty, for each such failure, equal to the lesser of $10,000 and 0.01% of the total value, on September 30 of the calendar year set out in the request, of the units of the investment plan in respect of which that person was required to provide information to the investment plan in accordance with that subsection. Penalty — failure to provide notice (13) Every person that is required by subsection (9) or (10) to provide the information described in that subsection to a distributed investment plan on or before November 15 of a calendar year and that fails to do so is liable to a penalty, for each such failure, equal to the lesser of $10,000 and 0.01% of the total value, on September 30 of that calendar year, of the units of the distributed investment plan held by the person on that day. SOR/2013-71, s. 2 SOR/2019-59, s. 23
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations
affiliated group means a group of investment plans, each member of which is affiliated with each other member of the group. ( groupe affilié )
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — (a)
qualifying investor , in a particular investment plan for a calendar year, means a person that is an investment plan and a selected investor in the particular investment plan for the calendar year and that (a) is neither a qualifying small investment plan for the purposes of Part 1 for the fiscal year of the person that includes September 30 of the calendar year nor an investment plan in respect of which section 13 applies throughout that fiscal year; (b) is a selected listed financial institution throughout the fiscal year referred to in paragraph (a); or (c) is a member of an affiliated group, (i) the members of which together hold units of the particular investment plan with a total value of $10,000,000 or more as of September 30 of the calendar year, or (ii) any member of which is a selected listed financial institution throughout the fiscal year of the member that includes September 30 of the calendar year. ( investisseur admissible )
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — (a)
selected investor , in a particular investment plan for a calendar year, means a person (other than an individual or a distributed investment plan) that is resident in Canada and that meets the following criteria: (a) if the person is an investment plan, the person holds units of the particular investment plan with a total value of less than $10,000,000 as of September 30 of the calendar year; and (b) in any other case, as of September 30 of the calendar year, (i) if the particular investment plan is a stratified investment plan, for each series of the particular investment plan in which the person holds units, the person holds units of the series with a total value of less than $10,000,000, and (ii) if the particular investment plan is a non-stratified investment plan, the person holds units of the particular investment plan with a total value of less than $10,000,000. ( investisseur désigné )
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations
selected non-stratified investment plan means a non-stratified investment plan that is a selected listed financial institution and not an exchange-traded fund. ( régime de placement non-stratifié désigné )
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations
selected stratified investment plan means a stratified investment plan that is a selected listed financial institution. ( régime de placement stratifié désigné )
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 54
ning prescribed information; (b) set out the day on which the election is to come into effect; and (c) be filed with the Minister in prescribed manner before that day or any later day that the Minister may allow. Cessation (13) An election made under subsection (1) made by a person ceases to have effect on the earliest of (a) the day the election ceases to have effect under paragraph (9)(a), (10)(a) or (11)(a), and (b) the day on which a revocation of the election becomes effective. Revocation (14) The investment plans that have jointly made an election under subsection (1) may jointly revoke the election, effective on a particular day, by filing in prescribed manner with the Minister a notice of revocation in prescribed form containing prescribed information not later than the particular day or any later day that the Minister may allow. Revocation — restriction (15) A revocation made by two or more investment plans under subsection (14) of a joint election is effective only if one of those investment plans notifies, before the day on which the revocation is to come into effect, the manager that made the joint election. Joint and several liability (16) If an election made under subsection (1) by a manager and two or more investment plans is in effect on the day on or before which the returns under Division V of Part IX of the Act for the reporting periods of those investment plans would be required to be filed in the absence of subsection (8) or if a manager of two or more investment plans files a joint return referred to in subsection (8) for the reporting periods of those investment plans on a day on which an election made under subsection (1) by the manager and those investment plans is in effect, the manager and those investment plans are jointly and severally, or solidarily, liable for (a) the net tax and interim net tax for those reporting periods; and (b) any interest or penalties in respect of the net tax or interim net tax for those reporting periods or in respect of the joint returns referred to in subsection (8). SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 55
stment plan is not to be included in determining, in accordance with that paragraph, a prescribed amount in respect of a reporting period of a manager for the purpose of the description of G in subsection 225.2(2) of the Act unless the manager has paid or credited the negative adjustment amount to the investment plan. Form and filing of election (4) An election made under subsection (1) by a manager and an investment plan is to (a) be made in prescribed form containing prescribed information; (b) set out the first day on which the election is to be in effect; and (c) be filed with the Minister in prescribed manner before that first day or any later day that the Minister may allow. Cessation (5) An election made under subsection (1) by a particular person that is a manager and another person that is an investment plan ceases to have effect on the earliest of (a) the day on which the particular person ceases to be the manager of the other person, (b) the day on which the other person ceases to be an investment plan or a selected listed financial institution, and (c) the day on which a revocation of the election becomes effective. Revocation (6) If a manager and an investment plan have jointly made an election under subsection (1), the manager or the investment plan may revoke the election, effective on a particular day, by filing in prescribed manner with the Minister a notice of revocation in prescribed form containing prescribed information not later than the particular day or any later day that the Minister may allow. Revocation — restriction (7) A revocation made by a person under subsection (6) of a joint election is effective only if the person notifies, before the day on which the revocation is to come into effect, the other person that made the joint election. Joint and several liability (8) If an election made under subsection (1) by a manager and an investment plan is in effect at any time in a reporting period of the manager, the manager and the investment plan are jointly and severally, or solidarily, liable for the net tax for the reporting period and any interest or penalties in respect of that net tax. SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 56
Requirement to register 56 (1) If a selected listed financial institution makes an election under either of sections 53 and 55 that comes into effect on a particular day and no election made by the financial institution under subsection 54(1) is in effect on the particular day, (a) for the purposes of subsection 240(1.2) of the Act, the financial institution is a prescribed financial institution; and (b) for the purposes of paragraph 240(2.1)(a.1) of the Act, the prescribed day is the particular day. Requirement to register (2) If, under any of subsection 54(3), (4) and (14), a selected listed financial institution withdraws from or revokes an election made under subsection 54(1) by the financial institution and an election made by the financial institution under either of sections 53 and 55 is in effect on the particular day that the withdrawal or revocation comes into effect, (a) for the purposes of subsection 240(1.2) of the Act, the financial institution is a prescribed financial institution; and (b) for the purposes of paragraph 240(2.1)(a.1) of the Act, the prescribed day is the particular day. Requirement to register as a group (3) If two or more selected listed financial institutions and a manager of those financial institutions have jointly made an election under subsection 54(1) that comes into effect on a particular day, (a) for the purposes of subsection 240(1.3) of the Act, those financial institutions are a prescribed group; (b) for the purposes of subsection 240(1.3)(b) of the Act, the manager is a person that is prescribed in respect of the prescribed group referred to in paragraph (a) and the prescribed day is the day that is 30 days after the particular day; (c) for the purposes of subsection 242(1.2) of the Act, a prescribed circumstance is (i) the cessation of the joint election under paragraph 54(10)(a) on a particular day, if no election by the manager and two or more of those financial institutions under subsection 54(1) is deemed to come into effect on the particular day under paragraph 54(10)(b), or (ii) the cessation of the joint election under paragraph 54(11)(a) or (13)(b); and (d) for the purposes of subsection 242(1.4) of the Act, a prescribed circumstance in respect of one of those financial institutions is the withdrawal of the financial institution from the joint election under subsection 54(3) or (4). SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 57
First fiscal year — deemed fiscal and taxation years 57 For the purposes of these Regulations and for the purposes of subsection 225.2(2) and sections 228 and 237 of the Act, as adapted by these Regulations, if, in the absence of this section, a particular fiscal year is the first fiscal year of an investment plan that is a selected listed financial institution, the following rules apply: (a) the investment plan is deemed to have (i) another fiscal year that immediately precedes the particular fiscal year, and (ii) another taxation year that immediately precedes the taxation year of the investment plan in which the particular fiscal year ends; and (b) the other fiscal year referred to in subparagraph (a)(i) is deemed to end in the other taxation year referred to in subparagraph (a)(ii). SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 58
i) the day preceding the day on which a plan merger of the investment plan and one or more other investment plans first occurs; and (b) attribution point in respect of the series for the particular taxation year means the particular day that is the attribution point in respect of the series for the taxation year of the investment plan that precedes the particular taxation year, as determined in accordance with paragraph (a), if the particular day is after September 30 of the calendar year in which the particular fiscal year ends. SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 59
ce and for the preceding taxation year, or (B) if no election under section 50 is in effect throughout the particular fiscal year, the percentage that would be the investment plan’s particular percentage for the participating province and for the preceding taxation year if the particular percentage were determined in accordance with the rules set out in (I) paragraph 60.1(b), if the investment plan has elected in prescribed form containing prescribed information to have that paragraph apply, or (II) paragraph 60.1(c), in any other case, and (iii) for the purposes of the description of G in subsection 225.2(2) of the Act, for the reporting period of the investment plan that includes the reconciliation day, the positive or negative amount determined by the following formula is a prescribed amount: A – B where A is the total of all amounts, each of which is an amount that would be the net tax for a reporting period of the investment plan that is included in the particular fiscal year if (A) when no election under section 50 is in effect throughout the particular fiscal year, the investment plan’s percentage for a participating province and for the preceding taxation year were determined in accordance with the rules set out in section 60.1, and (B) when an election under section 50 is in effect throughout the particular fiscal year, the investment plan’s percentage for a participating province and for the taxation year in which the particular fiscal year ends were determined in accordance with the rules set out in section 60.1, and B is the total of all amounts, each of which is the net tax for a reporting period of the investment plan that is included in the particular fiscal year. SOR/2013-71, s. 2; SOR/2013-197, s. 4
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 237
237 (1) Where the reporting period of a registrant is a fiscal year, the registrant shall, within one month after the end of each fiscal quarter of the registrant ending in the reporting period, pay to the Receiver General an instalment equal to 1/4 of the amount that would be the net tax for the reporting period if the description of C in the formula in subsection 225.2(2) were read as “is an estimate of the financial institution’s percentage for the participating province and for the preceding taxation year of the financial institution, as determined by the financial institution”.
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 60
New non-stratified investment plan — elected method 60 If units of a non-stratified investment plan that is a selected listed financial institution are issued, distributed or offered for sale in a particular fiscal year that ends in a particular taxation year of the investment plan, if immediately before the issuance, distribution or offering for sale no units of the investment plan are issued and outstanding and if no election is in effect under section 49 or 61 in respect of the investment plan and in respect of the particular fiscal year, the investment plan may elect in prescribed form containing prescribed information to have the following rules apply: (a) for the purposes of paragraph (a) of the description of A in subsection 225.2(2) of the Act, any amount of tax under any of subsection 165(1) and sections 212, 218 and 218.01 of the Act that became payable by the investment plan on or before the attribution point (referred to in this section as the “first attribution point”) in respect of the investment plan for the taxation year (in this subsection referred to as the “preceding taxation year”) immediately preceding the particular taxation year or that was paid by the investment plan on or before the first attribution point without having become payable is a prescribed amount of tax; and (b) for the purposes of the description of G in subsection 225.2(2) of the Act, for each reporting period in the particular fiscal year that ends after the first attribution point and for each reporting period in the fiscal year of the investment plan that follows the particular fiscal year, the amount determined, for each participating province, by the following formula is a prescribed amount: [(A – B)/C] × D × (E/F) where A is the total of all amounts of tax prescribed for the purposes of paragraph (a), B is the total of all input tax credits of the investment plan that are in respect of an amount of tax prescribed for the purposes of paragraph (a), C is the total of (i) the total number of reporting periods in the particular fiscal year that end after the first attribution point, and (ii) the total number of reporting periods in the fiscal year of the investment plan that immediately follows the particular fiscal year, D is (i) if no election under section 50 is in effect throughout the particular fiscal year, the investment plan’s percentage for the participating province and for the preceding taxation year, and (ii) if an election under section 50 is in effect throughout the particular fiscal year, the investment plan’s percentage for the participating province and for the particular taxation year, E is the tax rate for the participating province, and F is the rate set out in subsection 165(1) of the Act. SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 61
New non-stratified investment plan — modified real-time election 61 If units of a non-stratified investment plan that is a selected listed financial institution are issued, distributed or offered for sale in a fiscal year of the investment plan, if immediately before the issuance, distribution or offering for sale no units of the investment plan are issued and outstanding and if no election is in effect under section 49 or 60 in respect of the investment plan and in respect of the fiscal year, then the investment plan may elect in prescribed form containing prescribed information to have subsection 31(4) apply in respect of the fiscal year. The election is to indicate whether the investment plan’s percentages are to be determined by using investor percentages and whether the investment plan’s percentages are to be determined on a daily basis, a weekly basis, a monthly basis or a quarterly basis . SOR/2013-71, s. 2
Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 237
237 (1) Where the reporting period of a registrant is a fiscal year, the registrant shall, within one month after the end of each fiscal quarter of the registrant ending in the reporting period, pay to the Receiver General an instalment equal to 1/4 of the amount that would be the net tax for the reporting period if the description of A 6 in subsection 225.2(2), as adapted by subsection 48(1) of the Selected Listed Financial Institution Attribution Method (GST/HST) Regulations , were read as “in the case of a series of the financial institution in respect of which section 62 of the Selected Listed Financial Institution Attribution Method (GST/HST) Regulations applies for the fiscal year, is an estimate of the financial institution’s percentage for the series, for the participating province and for the preceding taxation year of the financial institution, as determined by the financial institution, and, in the case of any other series of the financial institution, is 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”.