Income Tax Act — I-3.3 122.5
nth 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 ¼ of the amount, if any, determined by the formula A - B where A is the total of (a) $213, (b) $213 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, $213, (d) $112 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, $112, and (f) if the individual has no qualified relation and no qualified dependant, in relation to the specified month, the lesser of $112 and 2% of the amount, if any, by which the individual’s income for the taxation year exceeds $6,911; 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 $27,749. COVID-19 — additional deemed payment (3.001) 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 determined by the formula A − B − C where A is the total of (a) $580, (b) $580 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, $580, (d) $306 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, $306, and (f) if the individual has no qualified relation and no qualified dependant, in relation to the specified month, the lesser of $306 and 2% of the amount, if any, by which the individual’s income for the taxation year exceeds $9,412; 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 $37,789; and C is the total amount that the eligible individual is deemed to have paid under subsection (3) on account of their tax payable for the specified months of July 2019, October 2019, January 2020 and April 2020. Additional deemed payment (3.002) 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 determined by the formula 0.25 × (A – B) – C where A is the total of (a) $918, (b) $918 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