Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 32
Percentage — particular period 32 (1) If a selected listed financial institution is a non-stratified investment plan, other than an exchange-traded fund, and no election under section 49 or 61 is in effect in respect of the financial institution throughout a fiscal year of the financial institution that ends in a particular period and in a calendar year, the financial institution’s percentage for a participating province and for the particular period is (a) in the case of any one participating province (in this section referred to as the “selected province”) having the highest tax rate on the first day of the fiscal year, the percentage determined by the formula A/B where A is the total of all amounts, each of which is determined for an attribution point in respect of the financial institution for the particular period by the formula [(A 1 + A 2 )/A 3 ] + [A 4 × ((A 1 + A 2 )/A 5 )] + [(1 – A 4 ) – (A 5 /A 3 )] where A 1 is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person that is an individual or a specified investor in the financial institution for the fiscal year and that the financial institution knows, on December 31 of the calendar year, is resident in the selected province on the attribution point, A 2 is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person that is neither an individual nor a specified investor in the financial institution for the fiscal year and in respect of which the financial institution knows, on December 31 of the calendar year, the person’s investor percentage for each participating province as of the attribution point multiplied by the person’s investor percentage for the selected province as of the attribution point, A 3 is the total value, on the attribution point, of the units of the financial institution other than units held, on the attribution point, by an individual, or a specified investor in the financial institution for the fiscal year, that the financial institution knows, on December 31 of the calendar year, is not resident in Canada on the attribution point, A 4 is the lesser of 0.1 and the amount determined by the formula C/D where C is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person in respect of which the financial institution (i) does not know, on December 31 of the calendar year, 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, the missing information under the applicable subsection referred to in subparagraph (i), and D is the amount determined for A 3 , and A 5 is the total of all amounts, each of which is the total value of the units of the financial institution held, on the attribution point, by a person (i) that is an individual, or a specified investor in the financial institution for the fiscal year, resident in Canada on the attribution point and in respect of which the financial institution knows the province in which the person is resident on the attribution point, or (ii) that is neither an individual nor a specified investor in the financial institution for the fiscal year and in respect of which the financial institution knows, on December 31 of the calendar year, the person’s investor percentage for each participating province as of the attribution point, and B is the number of attribution points in respect of the financial institution for the particular period; (b) in the case of a participating province (other than the selected province) in which the financial institution has a permanent establishment in the particular period, the perc