Excise Tax Act — E-15 261.01
preceding calendar year, made employer contributions to the pension plan in that year; and (b) in any other case, was the employer of one or more active members of the pension plan in the immediately preceding calendar year. ( employeur admissible ) qualifying pension entity means a pension entity of a pension plan other than a pension plan in respect of which (a) listed financial institutions made 10% or more of the total employer contributions to the pension plan in the last preceding calendar year in which employer contributions were made to the pension plan; or (b) it can reasonably be expected that listed financial institutions will make 10% or more of the total employer contributions to the pension plan in the next calendar year in which employer contributions will be required to be made to the pension plan. ( entité de gestion admissible ) recoverable amount in respect of a claim period of a person means an amount of tax (a) that is included in determining an input tax credit of the person for the claim period; (b) for which it can reasonably be regarded that the person has obtained or is entitled to obtain a rebate, refund or remission under any other section of this Act or under any other Act of Parliament; or (c) that can reasonably be regarded as having been included in an amount adjusted, refunded or credited to or in favour of the person for which a credit note referred to in subsection 232(3) has been received by the person or a debit note referred to in that subsection has been issued by the person. ( montant recouvrable ) tax recovery rate of a person for a fiscal year of the person means the lesser of (a) 100%; and (b) the amount (expressed as a percentage) determined by the formula (A + B) / C where A is the total of all amounts, each of which is (i) if the person is a selected listed financial institution at any time in the fiscal year, an input tax credit of the person, in respect of an amount of tax under any of subsection 165(1) and sections 212, 218 and 218.01, for a reporting period of the person included in the fiscal year, and (ii) in any other case, an input tax credit of the person for a reporting period of the person included in the fiscal year, B is the total of all amounts, each of which is (i) if the person is a selected listed financial institution at any time in the fiscal year, a rebate to which the person is entitled under section 259, in respect of an amount of tax under any of subsection 165(1) and sections 212, 218 and 218.01, for a claim period of the person included in the fiscal year, and (ii) in any other case, a rebate to which the person is entitled under section 259 for a claim period of the person included in the fiscal year, and C is the total of all amounts, each of which is (i) if the person is a selected listed financial institution at any time in the fiscal year, an amount of tax under any of subsection 165(1) and sections 212, 218 and 218.01 that became payable, or was paid without having become payable, by the person during the fiscal year, and (ii) in any other case, an amount of tax that became payable, or was paid without having become payable, by the person during the fiscal year. ( taux de recouvrement de taxe ) Rebate for qualifying pension entities (2) If a pension entity is a qualifying pension entity on the last day of a claim period of the pension entity, the Minister shall pay a rebate to the pension entity for the claim period equal to the amount determined by the formula A – B where A is the pension rebate amount of the pension entity for the claim period; and B is the total of all amounts, each of which is an amount (a) determined by the formula C × D where C is an amount determined for A in the formula in subsection (5) for a qualifying employer as a consequence of an election made under that subsection for the claim period, and D is the percentage specified for the qualifying employer in the election, or (b) determined under paragraph (6)(a) in respect of a