Income Tax Act — I-3.3 122.5
he specified month, other than a qualified dependant in respect of whom an amount is included under paragraph (c) in computing the total for the specified month, (e) if the individual has no qualified relation and has one or more qualified dependants, in relation to the specified month, $552, and (f) if the individual has no qualified relation and no qualified dependant, in relation to the specified month, the lesser of $552 and 6% of the amount, if any, by which the individual’s income for the taxation year exceeds $11,337; B is 15% of the amount, if any, by which the individual’s adjusted income for the taxation year exceeds $45,521; and C is the amount that the eligible individual is deemed to have paid under subsection (3) during the specified month on account of their tax payable for the taxation year. Additional deemed payment — July 2026 to April 2031 (3.005) An eligible individual in relation to a month specified for a taxation year who files a return of income for the taxation year is deemed to have paid during the specified month on account of their tax payable under this Part for the taxation year an amount equal to 1/4 of the amount, if any, determined by the formula A − B where A is the total of (a) $445, (b) $445 for the qualified relation, if any, of the individual in relation to the specified month, (c) if the individual has no qualified relation in relation to the specified month and is entitled to deduct an amount for the taxation year under subsection 118(1) because of paragraph (b) of the description of B in that subsection in respect of a qualified dependant of the individual in relation to the specified month, $445, (d) $234 times the number of qualified dependants of the individual in relation to the specified month, other than a qualified dependant in respect of whom an amount is included under paragraph (c) in computing the total for the specified month, (e) if the individual has no qualified relation and has one or more qualified dependants, in relation to the specified month, $234, and (f) if the individual has no qualified relation and no qualified dependant, in relation to the specified month, the lesser of $234 and 2% of the amount, if any, by which the individual’s income for the taxation year exceeds $11,564; and B is 5% of the amount, if any, by which the individual’s adjusted income for the taxation year in relation to the specified month exceeds $46,432. Shared-custody parent (3.01) Notwithstanding subsection (3), if an eligible individual is a shared-custody parent (within the meaning assigned by section 122.6, but with the words qualified dependant in that section having the meaning assigned by subsection (1)) in respect of one or more qualified dependants at the beginning of a month, the amount deemed by subsection (3) to have been paid during a specified month is equal to the amount determined by the following formula: 1/2 × (A + B) where A is the amount determined by the formula in subsection (3), calculated without reference to this subsection, and B is the amount determined by the formula in subsection (3), calculated without reference to this subsection and subparagraph (b)(ii) of the definition eligible individual in section 122.6. COVID-19 — shared-custody parent (3.02) Notwithstanding subsection (3.001), if an eligible individual is a shared-custody parent (within the meaning assigned by section 122.6, but with the words qualified dependant in that section having the meaning assigned by subsection (1)) in respect of one or more qualified dependants at the beginning of a month, the amount deemed by subsection (3.001) to have been paid during the specified month is equal to the amount determined by the following formula: 0.5(A + B) where A is the amount determined by the formula in subsection (3.001), calculated without reference to this subsection; and B is the amount determined by the formula in subsection (3.001), calculated without reference to this subsection and subparagraph (b