Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations — 63.1
New series — percentage 63.1 If units of a series (other than an exchange-traded series) of an investment plan that is a selected listed financial institution 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 series are issued and outstanding, if no election is in effect under section 49 or 64 in respect of the series throughout the particular fiscal year and if paragraph 62(d) does not apply to the series, the following rules apply: (a) for the purposes of this section, (i) the particular attribution point is the attribution point in respect of the series 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 to the series, subsections 30(1) and (2) apply for the purpose of determining the investment plan’s percentage for the series, for a participating province and for the preceding taxation year, except that the description of C in paragraph 30(1)(a) and the description of C in paragraph 30(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 A 6 in subsection 225.2(2) of the Act, as adapted by subsection 48(1), and despite sections 19 and 30, the investment plan’s percentage for the preceding taxation year, for the series 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 series 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 series 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 series 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 series 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 A 6 in subsection 225.2(2) of the Act, as adapted by subsection 48(1), and despite sections 19 and 30, the investment plan’s percentage for the preceding taxation year, for the series 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 t