Income Tax Act — I-3.3 125
other corporation; ( revenu d’agriculture ou de pêche déterminé ) specified investment business , carried on by a corporation in a taxation year, means a business (other than a business carried on by a credit union or a business of leasing property other than real or immovable property) the principal purpose of which is to derive income (including interest, dividends, rents and royalties) from property but, except where the corporation was a prescribed labour-sponsored venture capital corporation at any time in the year, does not include a business carried on by the corporation in the year where (a) the corporation employs in the business throughout the year more than 5 full-time employees, or (b) any other corporation associated with the corporation provides, in the course of carrying on an active business, managerial, administrative, financial, maintenance or other similar services to the corporation in the year and the corporation could reasonably be expected to require more than 5 full-time employees if those services had not been provided; ( entreprise de placement déterminée ) specified partnership business limit, of a person for a taxation year, at any particular time, means the amount determined by the formula (K/L) × M – T where K is the total of all amounts each of which is the person’s share of the income (determined in accordance with Subdivision J of Division B) of a partnership of which the person was a member for a fiscal period ending in the year from an active business carried on in Canada, L is the total of all amounts each of which is the income of the partnership for a fiscal period referred to in paragraph (a) of the description of A in the definition specified partnership income in this subsection from an active business carried on in Canada, M is the lesser of (a) the amount of the business limit indicated in subsection (2) for a corporation that is not associated in a taxation year with one or more other Canadian-controlled private corporations, and (b) the product obtained by the formula (Q/R) × S where Q is the amount referred to in paragraph (a), R is 365, and S is the total of all amounts each of which is the number of days in a fiscal period of the partnership that ends in the year, and T is the total of all amounts each of which is an amount, if any, that the person assigns under subsection (8); ( plafond des affaires de société de personnes déterminé ) specified partnership income of a corporation for a taxation year means the amount determined by the formula A + B where A is the total of all amounts each of which is an amount in respect of a partnership of which the corporation was a member, or a designated member, in the year equal to the least of (a) the total of all amounts each of which is an amount in respect of an active business carried on in Canada by the corporation as a member, or a designated member, of the partnership determined by the formula G – H where G is the total of all amounts each of which is (i) the corporation’s share of the income (determined in accordance with Subdivision J of Division B) of the partnership for a fiscal period of the business that ends in the year, (ii) income of the corporation for the year from the provision (directly or indirectly, in any manner whatever) of services or property to the partnership, or (iii) an amount included in the corporation’s income for the year in respect of the business under any of subsections 34.2(2), (3) and (12), and H is the total of all amounts deducted in computing the corporation’s income for the year from the business (other than amounts that were deducted in computing the income of the partnership from the business or the income of the corporation described under subparagraph (ii) of the description of G) or in respect of the business under subsection 34.2(4) or (11), (b) an amount equal to (i) if the corporation was a member of the partnership, the corporation’s specified partnership business limit for the year, and (