Excise Tax Act — E-15 225.4
Definitions 225.4 (1) The following definitions apply in this section. business input has the same meaning as in subsection 141.02(1). ( intrant d’entreprise ) Canadian activity has the same meaning as in section 217. ( activité au Canada ) exclusive input of a person means property or a service that is acquired or imported by the person for consumption or use directly and exclusively for the purpose of making taxable supplies for consideration or directly and exclusively for purposes other than making taxable supplies for consideration. ( intrant exclusif ) Prescribed definitions (2) In this section, exchange-traded fund , exchange-traded series , individual , investment plan , non-stratified investment plan , plan member , private investment plan , series , specified investor , stratified investment plan and unit have the meaning prescribed by regulation. Stratified investment plans (3) If a selected listed financial institution is a stratified investment plan and no election under subsection (6) in respect of a series of the financial institution is in effect throughout a fiscal year of the financial institution that ends in a calendar year, the following rules apply: (a) for the purposes of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations , (i) if the series is an exchange-traded series, all units of the series that are held, at a particular time in the fiscal year, by a person that the financial institution knows, on December 31 of the calendar year, is not resident in Canada at the particular time are deemed to be held at the particular time by a particular individual that is resident in Canada but not resident in any participating province, (ii) if the series is not an exchange-traded series, all units of the series that are held, at a particular time in the fiscal year, by an individual, or a specified investor in the financial institution, that the financial institution knows, on December 31 of the calendar year, is not resident in Canada at the particular time are deemed to be held at the particular time by a particular individual that is resident in Canada but not resident in any participating province, and (iii) the financial institution is deemed to know, on December 31 of the calendar year, the province in which the particular individual referred to in subparagraph (i) or (ii) is resident; (b) for the purposes of determining an input tax credit of the financial institution, any supply made during the fiscal year by the financial institution in respect of units of the series that are held by a person that is not resident in Canada is deemed to have been made to a person resident in Canada; (c) for the purposes of the definitions external charge and qualifying consideration in section 217, any outlay made, or expense incurred, by the financial institution during the fiscal year in respect of units of the series that are held by a person that is not resident in Canada is deemed to be applicable to a Canadian activity of the financial institution; and (d) no amount of tax in respect of a business input of the financial institution that becomes payable by the financial institution during the fiscal year or that is paid by the financial institution during the fiscal year without having become payable is to be included in determining an input tax credit of the financial institution if the business input (i) is acquired or imported for consumption, use or supply in the course of any activity relating to the series, or (ii) is not an exclusive input of the financial institution. Non-stratified investment plans (4) If a selected listed financial institution is a non-stratified investment plan and no election under subsection (7) made by the financial institution is in effect throughout a fiscal year of the financial institution that ends in a calendar year, the following rules apply: (a) for the purposes of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulation