Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations

Marginal note:Exception — pension and private investment plans

13 Section 9 does not apply in respect of a reporting period in a fiscal year that ends in a taxation year of a financial institution that is a private investment plan or a pension entity of a pension plan if

• (a) throughout the preceding taxation year, less than 10% of the total number of plan members of the financial institution are resident in the participating provinces; and

• (b) throughout the preceding fiscal year, the following amount is less than $100,000,000:

  • (i) in the case of a pension entity of a pension plan, part of which is a defined contribution pension plan and the remaining part of which is a defined benefits pension plan, the amount determined by the formula

    A + B

    where

    A

    is the total value of the assets of the defined contribution pension plan that are reasonably attributable to the plan members of the financial institution resident in the participating provinces, and

    B

    is the total value of the actuarial liabilities of the defined benefits pension plan that are reasonably attributable to the plan members of the financial institution resident in the participating provinces,

  • (ii) in the case of a pension entity of a defined benefits pension plan, other than a pension entity described in subparagraph (i), the amount that is the total value of the actuarial liabilities of the pension plan that are reasonably attributable to the plan members of the financial institution resident in the participating provinces, and

  • (iii) in any other case, the amount that is the total value of the assets of the private investment plan or pension plan that are reasonably attributable to the plan members of the financial institution resident in the participating provinces.