Income Tax Act — I-3.3 125.7
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: (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 is for the qualifying period 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 25% and the percentage determined by the formula 0.8 × (A − 50%) + 5% where A is the eligible entity’s revenue reduction percentage for the qualifying period, and (iii) in any other case, nil; and (n) for a qualifying period after the twentieth qualifying period, a percentage determined by regulation in respect of the eligible entity for the qualifying period or, for a qualifying period after the twenty-eighth qualifying period, if there is no percentage determined by regulation for the qualifying period, nil. ( pourcentage de base ) current reference period , for a qualifying period, means (a) for the first qualifying period, March 2020; (b) for the second qualifying period, April 2020; (c) for the third qualifying period, May 2020; (c.1) for the fourth qualifying period, June 2020; (c.2) for the fifth qualifying period, July 2020; (c.3) for the sixth qualifying period, August 2020; (c.4) for the seventh qualifying period, September 2020; (c.5) for the eighth qualifying period, October 2020; (c.6) for the ninth qualifying period, November 2020; (c.7) for the tenth qualifying period, December 2020; (c.8) for the eleventh qualifying period, December 2020; (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 qua