Public Service Body Rebate (GST/HST) Regulations — 3
3 (1) For the purposes of the definition percentage of government funding in subsection 259(1) of the Act, the percentage in respect of a particular person for a fiscal year of the particular person shall be determined as the greater of (a) the percentage determined by the formula A A + B + C - D × 100 where A is the amount, if any, by which the total of all amounts, each of which is identified in the annual financial statements of the particular person for the year as government funding of the particular person that is received or became receivable in the year (depending upon the method followed by the person in determining the particular person’s revenue or funding for the year), exceeds the total of all government funding of the particular person that is repaid in the year by the particular person or that became receivable by the particular person before the beginning of the year and is not received before the end of the year, B is the total of (i) all monetary gifts, other than government funding of the particular person, that are received in the year by the particular person, (ii) the total of all amounts each of which is the amount, if any, by which the fair market value, at the time of receipt, of a financial instrument received by the particular person in the year exceeds the consideration paid or payable by the particular person for the financial instrument, where that value is readily determinable at that time, (iii) the amount, if any, by which (A) the total of all consideration that becomes due, or is paid without becoming due, in the year to the particular person for supplies made by the particular person, including all consideration for a service, or for the use of property, that is provided by the particular person and to which section 135 of the Act applies, but not including any consideration for (I) supplies of rights to participate in games of chance conducted by the particular person, (II) supplies deemed under section 187 of the Act to have been made by the particular person, (III) supplies by way of sale of real property or capital property of the particular person, (IV) supplies of financial instruments, and (V) supplies deemed under any of subsections 171(3), 172(2) and 183(4) to (6) of the Act to have been made by the particular person or supplies by the particular person to which subsection 173(1) of the Act applies, exceeds (B) the total of all amounts paid or credited to recipients in the year as or on account of a reduction in, or a rebate or refund of, all or part of the consideration for supplies made by the particular person to the recipients, and (iv) the amount, if any, by which (A) the total of all amounts each of which is consideration that becomes due, or is paid without becoming due, in the year to the particular person for a supply of a right to participate in a game of chance conducted by the particular person or for a supply deemed under section 187 of the Act to have been made in the year by the particular person in respect of a bet exceeds (B) the total of all amounts each of which is an amount of money paid or payable by the particular person as a prize or winnings in the game or in satisfaction of the bet or is consideration paid or payable by the particular person for property or a service that is given as a prize or winnings in the game or in satisfaction of the bet, C is the total of (i) all amounts each of which is an amount of money that is interest or a dividend and that is received in the year by the particular person, (ii) all amounts of money that are distributed in the year to the particular person by a trust in respect of a right of the particular person as a beneficiary (within the meaning of paragraph 108(1)(b) of the Income Tax Act ) under the trust otherwise than as a distribution of capital, (iii) all amounts that become due, or are paid without becoming due, in the year to the particular person in respect of a debt security issued by the particular person to, or a l