Manner of Calculation (Foreign Banks) Regulations
Version of section 5 from 2010-03-25 to 2024-11-26:
Marginal note:Portion of Canadian entity’s activities — paragraphs 522.09(1)(b) and (2)(b) of the Act
5 For the purpose of paragraphs 522.09(1)(b) and (2)(b) of the Act, the prescribed manner of determining the portion of the activities a Canadian entity engages in that consists of the activities referred to in either of those paragraphs (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formula
A × 100%
where
- A
- is the greater of the fraction B/C and the fraction D/E,
where
- B
- is the part of the total assets of the Canadian entity that is in respect of the particular activities,
- C
- is the total assets of the Canadian entity,
- D
- is the part of the total revenue of the Canadian entity that is derived from the particular activities, and
- E
- is the total revenue of the Canadian entity.
- SOR/2008-162, s. 2
- SOR/2010-71, s. 2(F)
- Date modified: