Income Tax Act — I-3.3 125.7
(c.9) for the twelfth qualifying period, January 2021; (c.91) for the thirteenth qualifying period, February 2021; (c.92) for the fourteenth qualifying period, March 2021; (c.93) for the fifteenth qualifying period, April 2021; (c.94) for the sixteenth qualifying period, May 2021; (c.95) for the seventeenth qualifying period, June 2021; (c.96) for the eighteenth qualifying period, July 2021; (c.97) for the nineteenth qualifying period, August 2021; (c.98) for the twentieth qualifying period, September 2021; (c.99) for the twenty-first qualifying period, October 2021; (c.991) for the twenty-second qualifying period, November 2021; (c.992) for the twenty-third qualifying period, December 2021; (c.993) for the twenty-fourth qualifying period, January 2022; (c.994) for the twenty-fifth qualifying period, February 2022; (c.995) for the twenty-sixth qualifying period, March 2022; (c.996) for the twenty-seventh qualifying period, April 2022; (c.997) for the twenty-eighth qualifying period, May 2022; and (d) for the qualifying period referred to in paragraph (d) of the definition qualifying period , a prescribed period. ( période de référence actuelle ) eligible employee , of an eligible entity in respect of a week in a qualifying period, means an individual employed by the eligible entity primarily in Canada throughout the qualifying period (or the portion of the qualifying period throughout which the individual was employed by the eligible entity), other than, if the qualifying period is any of the first qualifying period to the fourth qualifying period, an individual who is without remuneration by the eligible entity in respect of 14 or more consecutive days in the qualifying period. ( employé admissible ) eligible entity means (a) a corporation or a trust, other than a corporation or a trust that is exempt from tax under this Part or is a public institution; (b) an individual other than a trust; (c) a registered charity, other than a public institution; (d) a person that is exempt from tax under this Part because of paragraph 149(1)(e), (j), (k) or (l), other than a public institution; (e) a partnership, all of the members of which are described in this paragraph or any of paragraphs (a) to (d); or (f) a prescribed organization. ( entité déterminée ) eligible remuneration , of an eligible employee of an eligible entity, means amounts described in paragraph 153(1)(a) or (g), other than (a) for greater certainty, a retiring allowance; (b) amounts deemed to have been received by the eligible employee as a benefit under or because of any of paragraphs 7(1)(a) to (d.1); (c) any amount received that can reasonably be expected to be paid or returned, directly or indirectly, in any manner whatever, to (i) the eligible entity, (ii) a person or partnership not dealing at arm’s length with the eligible entity, or (iii) another person or partnership at the direction of the eligible entity; and (d) any amount that is paid in respect of a week in the qualifying period, if, as part of an arrangement involving the eligible employee and the eligible entity, (i) the amount is in excess of the eligible employee’s baseline remuneration, (ii) after the qualifying period, the eligible employee is reasonably expected to be paid a lower weekly amount than their baseline remuneration, and (iii) one of the main purposes for the arrangement is to increase the amount of the deemed overpayment under subsection (2). ( rémunération admissible ) executive compensation repayment amount , of an eligible entity, means (a) nil, unless (i) shares of the capital stock of the eligible entity are listed or traded on a stock exchange or other public market, or (ii) the eligible entity is controlled by a corporation described in subparagraph (i); and (b) if the conditions in subparagraph (a)(i) or (ii) are met, the amount determined by the formula A × B where A is (i) a percentage assigned to the eligible entity under an agreement in respect of the seventeenth qualifying