Income Tax Act — I-3.3 137
that includes the last day of the payer’s taxation year in respect of which the amount was so allocated. Definitions (6) In this section, allocation in proportion to borrowing for a taxation year means an amount credited by a credit union to a person who was a member of the credit union in the year on terms that the member is entitled to or will receive payment thereof, computed at a rate in relation to (a) the amount of interest payable by the member on money borrowed from the credit union, or (b) the amount of money borrowed by the member from the credit union, if the amount was credited at the same rate in relation to the amount of interest or money, as the case may be, as the rate at which amounts were similarly credited for the year to all other members of the credit union of the same class; ( répartition proportionnelle à l’importance de l’emprunt ) bonus interest payment for a taxation year means an amount credited by a credit union to a person who was a member of the credit union in the year on terms that the member is entitled to or will receive payment thereof, computed at a rate in relation to (a) the amount of interest payable in respect of the year by the credit union to the member on money standing to the member’s credit from time to time in the records or books of account of the credit union, or (b) the amount of money standing to the member’s credit from time to time in the year in the records or books of account of the credit union, if the amount was credited at the same rate in relation to the amount of interest or money, as the case may be, as the rate at which amounts were similarly credited in the year to all other members of the credit union of the same class; ( paiement d’intérêts supplémentaires ) credit union means a corporation, association or federation incorporated or organized as a credit union or cooperative credit society if (a) it is (i) a federal credit union, or (ii) a provider of financial services that is organized on cooperative principles and incorporated by or under an Act of the legislature of a province, (b) all or substantially all the members thereof having full voting rights therein were corporations, associations or federations (i) incorporated as credit unions or cooperative credit societies, each of which is described in paragraph (a), or all or substantially all of the members of which were credit unions, cooperatives or a combination of those entities, (ii) incorporated, organized or registered under, or governed by a law of Canada or a province with respect to cooperatives, or (iii) incorporated or organized for charitable purposes, or were corporations, associations or federations no part of the income of which was payable to, or otherwise available for the personal benefit of, any shareholder or member thereof, or (c) the corporation, association or federation would be a credit union by virtue of paragraph (b) if all the members (other than individuals) having full voting rights in each member thereof that is a credit union were members having full voting rights in the corporation, association or federation; ( caisse de crédit ) maximum cumulative reserve of a credit union at the end of any particular taxation year means an amount determined by the formula 0.05 × (A + B) where A is the total of all amounts each of which is the amount of any debt owing by the credit union to a member thereof or of any other obligation of the credit union to pay an amount to a member thereof, that was outstanding at the end of the year, including, for greater certainty, the amount of any deposit standing to the credit of a member of the credit union in the records of the credit union, but excluding, for greater certainty, any share in the credit union of any member thereof, and B is the total of all amounts each of which is the amount, as of the end of the year, of any share in the credit union of any member thereof; ( provision cumulative maximale ) member , of a credit union, means (a) a pers