Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 48
Adaptation of subsection 225.2(2) of Act — stratified plans 48 (1) In applying subsection 225.2(2) of the Act for the determination of the net tax for a particular reporting period in a fiscal year that ends in a taxation year of a stratified investment plan, the formula in that subsection and the descriptions for that formula are adapted as follows: [A × (B/C)] – D + E where A is the total of all amounts, each of which is the amount determined for a series of the financial institution (other than a provincial series of the financial institution for the fiscal year) and is equal to (a) if an election under section 49 or 64 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations is in effect in respect of the series throughout the particular reporting period, the total of all amounts, each of which is the positive or negative amount determined for a particular day in the particular reporting period, by the formula (A 1 – A 2 ) × A 3 where A 1 is the total of (i) all amounts of tax (other than an amount of tax that is prescribed under any of section 40, paragraph 55(2)(a) and section 67 of those Regulations) in respect of a supply or importation of property or a service that became payable under any of subsection 165(1) and sections 212, 218 and 218.01 by the financial institution on the particular day or that was paid by the financial institution on the particular day without having become payable, 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, (ii) all amounts each of which is tax under subsection 165(1) in respect of a supply (other than a supply to which subparagraph (iii) applies) of property or a service made by a person to the financial institution that would, in the absence of an election made under section 150, have become payable by the financial institution on the particular day, 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, and (iii) all amounts each of which is an amount — in respect of a supply of property or a service that is made on the particular day 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 2 is the total of (i) all amounts each of which is the amount determined by the formula F × G where F 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, paragraph 55(2)(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 G is the extent (expressed as a percentage) to which the amount determined for F was not included in the determination of A 2 for any other day in the particular reporting period, and (ii) all amou