Income Tax Act — I-3.3 149.1
ft means that portion of a gift of property made in a taxation year by a particular registered charity, to another registered charity with which it does not deal at arm’s length, that is designated by the particular registered charity in its information return for the taxation year; ( don déterminé ) disbursement quota , for a taxation year of a registered charity, means the amount determined by the formula A ÷ 365 × B where A is the number of days in the taxation year, and B is (a) 3.5% of the prescribed amount for the year, in respect of all or a portion of a property owned by the charity at any time in the 24 months immediately preceding the taxation year that was not used directly in charitable activities or administration, if the prescribed amount is equal to or less than $1 million but greater than (i) if the registered charity is a charitable organization, $100,000, and (ii) in any other case, $25,000, (b) if the prescribed amount for the year in respect of all or a portion of a property owned by the charity at any time in the 24 months immediately preceding the taxation year that was not used directly in charitable activities or administration is greater than $1 million, $35,000 plus 5% of the amount by which the prescribed amount exceeds $1 million, and (c) in any other case, nil; ( contingent des versements ) divestment obligation percentage of a private foundation for a particular taxation year, in respect of a class of shares of the capital stock of a corporation, is the percentage, if any, that is the lesser of (a) the excess, if any, at the end of the taxation year, of the percentage of issued and outstanding shares of that class that are held by the private foundation over the exempt shares percentage of the private foundation, and (b) the percentage determined by the formula A + B – C where A is the percentage determined under this paragraph in respect of the private foundation in respect of the class for the preceding taxation year, B is the total of all percentages, each of which is the portion of a net increase in the excess corporate holdings percentage of the private foundation in respect of the class for the particular taxation year or for a preceding taxation year that is allocated to the particular taxation year in accordance with subsection 149.2(5), and C is the total of all percentages, each of which is the portion of a net decrease in the excess corporate holdings percentage of the private foundation in respect of the class for the particular taxation year or for a preceding taxation year that is allocated to the particular taxation year in accordance with subsection 149.2(7); ( pourcentage de dessaisissement ) enduring property [Repealed, 2010, c. 25, s. 37] entrusted shares percentage [Repealed, 2009, c. 2, s. 55] equity percentage of a person in a corporation has, subject to subsection 149.2(2.1), the same meaning as defined in subsection 95(4); ( pourcentage d’intérêt ) excess corporate holdings percentage of a private foundation, in respect of a class of shares of the capital stock of a corporation, at any time means (a) if the private foundation is not, at that time, a registered charity, 0%, (b) if the private foundation holds, at that time, an insignificant interest in respect of the class, 0%, and (c) in any other case, the number of percentage points, if any, by which the total corporate holdings percentage of the private foundation in respect of the class, at that time, exceeds the greater of 20% and the exempt shares percentage, at that time, of the private foundation in respect of the class; ( pourcentage de participation excédentaire ) exempt shares held by a private foundation at any particular time means shares, of a class of the capital stock of a corporation, (a) that were acquired by the private foundation by way of a gift that was subject to a trust or direction that the shares are to be held by the private foundation for a period ending not earlier than the particular time, if t