Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 60.1
New non-stratified investment plan — percentage 60.1 If units of a non-stratified investment plan that is a selected listed financial institution and not an exchange-traded fund 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, if no election is in effect under section 49 or 61 in respect of the investment plan throughout the particular fiscal year and if paragraph 59(d) does not apply to the investment plan, the following rules apply: (a) for the purposes of this section, (i) the particular attribution point is the attribution point in respect of the investment plan for the taxation year of the investment plan that precedes the particular taxation year (in this section referred to as the “preceding taxation year”), and (ii) the particular calendar year is the calendar year that includes the particular attribution point; (b) if the investment plan has elected in prescribed form containing prescribed information to have this paragraph apply, subsections 32(1) and (2) apply for the purpose of determining the investment plan’s percentage for a participating province and for the preceding taxation year, except that the description of C in paragraph 32(1)(a) and the description of C in paragraph 32(1)(b) are each to be read without reference to subparagraph (ii); (c) if paragraph (b) does not apply, (i) for the purposes of these Regulations and the description of C in subsection 225.2(2) of the Act and despite sections 19 and 32, the investment plan’s percentage for the preceding taxation year and for any one participating province (in this paragraph referred to as the “selected province”) having the highest tax rate on the first day of the particular fiscal year is the percentage determined by the formula (A/B) + (C × A/D) + [(1 – C) – (D/B)] where A is the total of all amounts, each of which is the total value of the units of the investment plan held, on the particular attribution point, by a person that the investment plan knows, on December 31 of the particular calendar year, is resident in the selected province on the particular attribution point, B is the total value, on the particular attribution point, of the units of the investment plan other than units held, on the particular attribution point, by a person that the investment plan knows, on December 31 of the particular calendar year, is not resident in Canada on the particular attribution point, C is the lesser of 0.1 and the amount determined by the formula C 1 /C 2 where C 1 is the total of all amounts, each of which is the total value of the units of the investment plan held, on the particular attribution point, by a person in respect of which the investment plan does not know, on December 31 of the particular calendar year, whether or not the person is resident in Canada on the particular attribution point or, in the case of persons resident in Canada, the province in which the person is resident on the particular attribution point, and C 2 is the amount determined for B, and D is the total of all amounts, each of which is the total value of the units of the investment plan held, on the particular attribution point, by a person resident in Canada on the particular attribution point and in respect of which the investment plan knows, on December 31 of the particular calendar year, the province in which the person is resident on the particular attribution point, (ii) for the purposes of these Regulations and the description of C in subsection 225.2(2) of the Act and despite sections 19 and 32, the investment plan’s percentage for the preceding taxation year and for a participating province (other than the selected province) in which the investment plan has a permanent establishment in the particular taxation year is the percentage determined by the formula (