Income Tax Act — I-3.3 (a)
base percentage , of an eligible entity for a qualifying period, means (a) for the fifth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 60%, and (ii) in any other case, 1.2 multiplied by the revenue reduction percentage; (b) for the sixth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 60%, and (ii) in any other case, 1.2 multiplied by the revenue reduction percentage; (c) for the seventh qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 50%, and (ii) in any other case, 1 multiplied by the revenue reduction percentage; (d) for the eighth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 40%, and (ii) in any other case, 0.8 multiplied by the revenue reduction percentage; (e) for the ninth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 40%, and (ii) in any other case, 0.8 multiplied by the revenue reduction percentage; (f) for the tenth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 40%, and (ii) in any other case, 0.8 multiplied by the revenue reduction percentage; (g) for the eleventh qualifying period to the seventeenth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 40%, and (ii) in any other case, the percentage determined by the formula 0.8 × A where A is the revenue reduction percentage; (h) for the eighteenth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 35%, and (ii) in any other case, the percentage determined by the formula 0.875 × (A − 10%) where A is the revenue reduction percentage; (i) for the nineteenth qualifying period, (i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 25%, and (ii) in any other case, the percentage determined by the formula 0.625 × (A − 10%) where A is the revenue reduction percentage; (j) for the twentieth qualifying period, (i) if the eligible entity’s revenue reduction percentage is greater than or equal to 50%, 25%, and (ii) in any other case, the percentage determined by the formula 0.625 × (A − 10%) where A is the revenue reduction percentage; (k) for the twenty-first qualifying period, (i) if the eligible entity’s revenue reduction percentage is greater than or equal to 50%, 10%, and (ii) in any other case, the percentage determined by the formula 0.25 × (A − 10%) where A is the revenue reduction percentage; (l) for the twenty-second qualifying period to the twenty-sixth qualifying period, (i) the lesser of 75% and the eligible entity’s revenue reduction percentage for the qualifying period, if, for the qualifying period, (A) the eligible entity’s revenue reduction percentage is greater than or equal to 40%, and (B) either of the following conditions is met: (I) the eligible entity is a qualifying tourism or hospitality entity, or (II) the eligible entity is subject to a qualifying public health restriction, (ii) if subparagraph (i) does not apply to the eligible entity, the eligible entity’s revenue reduction percentage for the qualifying period is greater than or equal to 50% and the prior year revenue decline of the eligible entity is greater than or equal to 50%, the lesser of 50% and the percentage determined by the formula 1.6 × (A − 50%) + 10% where A is the eligible entity’s revenue reduction percentage for the qualifying period, and (iii) in any other case, nil; (m) for the twenty-seventh qualifying period and the twenty-eighth qualifying period, (i) the lesser of 37.5% and one half of the eligible entity’s revenue reduction percentage for the qualifying period, if, for the qualifying period, (A) the eligible entity’s revenue reduction percentage is greater than or equal to 40%, and (B) either of the following conditions is met: