Income Tax Act — I-3.3 125.7
tage de subvention pour le loyer ) rent top-up percentage , of an eligible entity in respect of a qualifying property for a qualifying period, means the percentage determined by the formula A × B ÷ C where A is 25%, or a prescribed percentage, for any of the eighth qualifying period to the twenty-eighth qualifying period and nil, or a prescribed percentage, for any subsequent qualifying period, B is the number of days in the qualifying period throughout which the qualifying property is subject to a public health restriction, and C is the number of days in the qualifying period. ( pourcentage compensatoire pour le loyer ) revenue reduction percentage , of an eligible entity for a qualifying period, means the result (expressed as a percentage) of the formula 1 − A/B where A is the eligible entity’s qualifying revenue for the current reference period for the qualifying period; and B is the eligible entity’s qualifying revenue for the prior reference period for the qualifying period – or, if the prior reference period is January and February 2020, the amount determined by the formula in subparagraph (c)(ii) of the definition qualifying entity – or a period prescribed by regulation in respect of the eligible entity for the qualifying period. ( pourcentage de baisse de revenu ) specified percentage , for a qualifying period, means (a) for the first qualifying period, 85%; and (b) for any of the second qualifying period to the fourth qualifying period, 70%. ( pourcentage déterminé ) (c) [Repealed, 2021, c. 23, s. 24] top-up percentage , of an eligible entity for a qualifying period, means the percentage determined by regulation for the qualifying period or, if there is no percentage determined by regulation for the qualifying period, (a) for any of the fifth qualifying period to the tenth qualifying period, the lesser of 25% and the percentage determined by the formula 1.25 × (A − 50%) where A is the entity’s top-up revenue reduction percentage for the qualifying period; (b) for any of the eleventh qualifying period to the seventeenth qualifying period, the lesser of 35% and the percentage determined by the formula 1.75 × (A − 50%) where A is the entity’s top-up revenue reduction percentage for the qualifying period; (c) for the eighteenth qualifying period, the lesser of 25% and the percentage determined by the formula 1.25 × (A − 50%) where A is the entity’s top-up revenue reduction percentage for the qualifying period; (d) for the nineteenth qualifying period, the lesser of 15% and the percentage determined by the formula 0.75 × (A − 50%) where A is the entity’s top-up revenue reduction percentage for the qualifying period; (e) for the twentieth qualifying period, the lesser of 15% and the percentage determined by the formula 0.75 × (A − 50%) where A is the entity’s top-up revenue reduction percentage for the qualifying period; (f) for the twenty-first qualifying period, the lesser of 10% and the percentage determined by the formula 0.5 × (A − 50%) where A is the entity’s top-up revenue reduction percentage for the qualifying period; and (g) for each qualifying period after the twenty-first qualifying period, nil. ( pourcentage compensatoire ) top-up revenue reduction percentage , of an eligible entity for a qualifying period, means (a) for any of the fifth qualifying period to the seventh qualifying period, the result (expressed as a percentage) of the formula 1 − A ÷ B where A is the average monthly qualifying revenue of the eligible entity for the last three calendar months that ended prior to the current reference period for the qualifying period, and B is the average monthly qualifying revenue of the eligible entity for (i) if the prior reference period for the qualifying period is January and February 2020, January and February 2020, and (ii) in any other case, the last three calendar months that ended prior to the prior reference period for the qualifying period; (b) for any of the eighth qualifying period to the tenth qual