Income Tax Act — I-3.3 125.7
s (c.4) to (d) of the definition qualifying period in subsection (1), the amount determined by the formula (E + F) × G where E is the qualifying entity’s base percentage for the qualifying period, F is the qualifying entity’s top-up percentage for the qualifying period, and G is the least of (A) the amount of eligible remuneration paid to the eligible employee by the qualifying entity in respect of that week, (B) $1,129, and (C) if the eligible employee does not deal at arm’s length with the qualifying entity in the qualifying period, the baseline remuneration in respect of the eligible employee determined for that week, (iii) if the eligible employee is on leave with pay for that week and the qualifying period is described in paragraph (c.2) or (c.3) of the definition qualifying period in subsection (1), (A) nil, unless (I) the revenue reduction percentage of the qualifying entity for the qualifying period is greater than 0%, or (II) the top-up percentage of the qualifying entity for the qualifying period is greater than 0%, and (B) in any other case, the greater of the amount determined under subparagraph (a)(i) and the amount determined under subparagraph (a)(ii), and (iv) if the eligible employee is on leave with pay for that week and the qualifying period is described in any of paragraphs (c.4) to (d) of the definition qualifying period in subsection (1), the least of (A) the amount of eligible remuneration paid to the eligible employee by the qualifying entity in respect of that week, (B) an amount determined by regulation in respect of the qualifying entity for the qualifying period, (C) nil, if (I) the eligible employee does not deal at arm’s length with the qualifying entity in the qualifying period, and (II) the baseline remuneration of the eligible employee for that week is nil, and (D) nil, unless (I) the revenue reduction percentage of the qualifying entity for the qualifying period is greater than 0%, or (II) the top-up percentage of the qualifying entity for the qualifying period is greater than 0%; B is the total of all amounts each of which is an amount deemed to have been remitted under subsection 153(1.02) by the qualifying entity in the qualifying period; C is the total of all amounts received by the eligible employee for each week in the qualifying period as a work-sharing benefit under the Employment Insurance Act ; and D is (a) nil, if the qualifying period is any of the fifth qualifying period to the nineteenth qualifying period, unless (i) the revenue reduction percentage of the qualifying entity for the qualifying period is greater than 0%, or (ii) the top-up percentage of the qualifying entity for the qualifying period is greater than 0%, (a.1) nil, if the qualifying period is after the nineteenth qualifying period, and (b) in any other case, the total of all amounts, each of which is for an eligible employee in respect of a week in the qualifying period, if the eligible employee is on leave with pay for that week and the amount is (i) an amount payable by the qualifying entity (A) as an employer’s premium under the Employment Insurance Act , or (B) as an employer’s contribution under the Canada Pension Plan or under a provincial pension plan as defined in section 3 of the Canada Pension Plan , or (ii) an amount payable by the qualifying entity as an employer’s premium under the Act respecting parental insurance , CQLR, c. A-29.011. Exception (2.01) Despite subsection (2), no overpayment on account of a qualifying entity’s liability under this Part for the taxation year in which the qualifying period ends is deemed to have arisen with respect to a qualifying entity that is a publicly traded company or a subsidiary of such a company if, in the qualifying period, it paid taxable dividends to an individual who is a holder of common shares of the company or of the subsidiary of the company. COVID-19 — rent subsidy (2.1) For a qualifying renter for a qualifying period referred to in any of paragraphs (c.5