Global Minimum Tax Act — G-3.3 28
Definitions 28 (1) The following definitions apply in this section. adjusted investment amount , of an owner in respect of a qualified flow-through ownership interest for a fiscal year (referred to in this definition as the “determination year”), means the amount determined by the formula A − B − C where A is the investment amount of the owner in respect of the ownership interest; B is the total of all amounts each of which is the qualified flow-through tax benefits of the owner in respect of the ownership interest for a fiscal year preceding the determination year; and C is the total of all amounts each of which is the other flow-through amounts of the owner in respect of the ownership interest for the determination year or any preceding fiscal year. ( montant d’investissement ajusté ) excess benefits , of an owner in respect of a proportional amortization method interest for a particular fiscal year, means the amount determined by the formula A + B − C where A is (a) if the amount determined for C is equal to the proportional investment reduction amount of the owner in respect of the interest for the particular fiscal year, the other flow-through amounts of the owner in respect of the interest for the particular fiscal year, and (b) in any other case, the lesser of (i) the other flow-through amounts of the owner in respect of the interest for the particular fiscal year, and (ii) the amount determined by the formula D − E where D is the proportional amortization method investment remaining amount of the owner in respect of the interest for the fiscal year immediately preceding the particular fiscal year, and E is the qualified flow-through tax benefits of the owner in respect of the interest for the fiscal year immediately preceding the particular fiscal year; B is the flow-through tax benefits of the owner in respect of the interest for the particular fiscal year, to the extent that the owner’s current tax expense in respect of covered taxes in its financial accounts can reasonably be considered to have been increased (or to not have been reduced) solely because of the application of the proportional amortization method, or another financial accounting method that provides similar results as to current tax expense, in respect of the interest for the particular fiscal year; and C is the lesser of (a) the amount determined for subparagraph (b)(ii) of the description of A, and (b) the proportional investment reduction amount of the owner in respect of the interest for the particular fiscal year. ( bénéfices excédentaires ) expected tax benefits ratio , of an owner in respect of a proportional amortization method interest for a fiscal year, means the amount determined by the formula A ÷ B where A is the flow-through tax benefits of the owner in respect of the interest for the fiscal year; and B is the total amount of flow-through tax benefits that the owner reasonably expects, at the time when the interest is first acquired, to receive in respect of the interest. ( ratio des avantages fiscaux attendus ) flow-through tax benefits , of an owner in respect of a qualified flow-through ownership interest for a fiscal year, means the total of all amounts each of which is (a) the tax benefit, in respect of a tax credit (other than a qualified refundable tax credit or marketable transferable tax credit of the owner), received by the owner in respect of the ownership interest for the fiscal year; or (b) the tax benefit, in respect of a tax loss, received by the owner in respect of the ownership interest for the fiscal year. ( avantages fiscaux intermédiaires ) investment amount , of an owner in respect of an ownership interest, means the total fair market value of all consideration provided by the owner for the ownership interest. ( montant d’investissement ) other flow-through amounts , of an owner in respect of a qualified flow-through ownership interest for a fiscal year, means the total of the following amounts received by the owner