Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 31
Percentage — real time 31 (1) If a selected listed financial institution is a non-stratified investment plan in respect of which an election under section 49 is in effect throughout a particular fiscal year of the financial institution, the financial institution’s percentage for a participating province as of a particular day in the particular fiscal year is (a) in the case of any one participating province (in this subsection and subsection (2) referred to as the “selected province”) having the highest tax rate on the first day of the particular fiscal year, the percentage determined by the formula [(A + B)/C] + [D × ((A + B)/E)] + [(1 – D) – (E/C)] where A is the total of all amounts, each of which is the total value of the units of the financial institution held, on the particular day, by a person that is an individual or a specified investor in the financial institution for the particular fiscal year and that the financial institution knows is resident in the selected province on that day, B is the total of all amounts, each of which is the total value of the units of the financial institution held, on the particular day, by a person that is neither an individual nor a specified investor in the financial institution for the particular fiscal year and in respect of which the financial institution knows the person’s investor percentage for each participating province as of that day multiplied by the person’s investor percentage for the selected province as of that day, C is the total value, on the particular day, of the units of the financial institution other than units held on that day by an individual, or a specified investor in the financial institution for the particular fiscal year, that the financial institution knows is not resident in Canada on that day, D is the lesser of 0.1 and the amount determined by the formula D 1 /D 2 where D 1 is the total of all amounts, each of which is the total value of the units of the financial institution held, on the particular day, by a person in respect of which the financial institution (i) does not know any part of the information in respect of those units that is described in whichever of subsections 52(3), (5) and (8) is applicable in respect of those units (which part is referred to in this description as the “missing information”), and (ii) requests, on or before October 15 of the calendar year that precedes the calendar year in which the particular fiscal year ends, the missing information under the applicable subsection referred to in subparagraph (i), and D 2 is the amount determined for C, and E is the total of all amounts, each of which is the total value of the units of the financial institution held, on the particular day, by a person (i) that is an individual, or a specified investor in the financial institution for the particular fiscal year, resident in Canada on that day and in respect of which the financial institution knows the province in which the person is resident on that day, or (ii) that is neither an individual nor a specified investor in the financial institution for the particular fiscal year and in respect of which the financial institution knows the person’s investor percentage for each participating province as of that day; (b) in the case of a participating province (other than the selected province) in which the financial institution has a permanent establishment in the taxation year in which the particular fiscal year ends, the percentage determined by the formula [(A + B)/C] + [D × ((A + B)/E)] where A is the total of all amounts, each of which is the total value of the units of the financial institution held, on the particular day, by a person that is an individual or a specified investor in the financial institution for the particular fiscal year and that the financial institution knows is resident in the participating province on that day, B is the total of all amounts, each of which is the total value of the units of the financial institution