72 (1) The amount of capital tax payable by a financial institution under this Division for a taxation year commencing before July 1, 2010 is calculated using the formula,  [A × (B + C) × (D/365)] – E + F in which, “A” is the financial institution’s Ontario allocation factor for the year, “B” is the amount determined by multiplying the basic capital tax rate determined under subsection (2) by the lesser of, (a) the amount of the financial institution’s adjusted taxable paid-up capital for the year, and (b) its basic capital amount for the year, “C” is the amount, if any, calculated by multiplying the additional capital tax rate determined under subsection (4) by the amount, if any, by which the financial institution’s adjusted taxable paid-up capital for the year exceeds its basic capital amount for the year, “D” is, (a) 365 if there are at least 51 weeks in the year, or (b) the number of days in the year, in any other case, “E” is the financial institution’s small business investment tax credit for the year, as determined under section 73, and “F” is the financial institution’s small business investment tax credit repayment for the year, as determined under section 79. 2007, c. 11, Sched. A, s. 72 (1). Basic capital tax rate (2) The basic capital tax rate for a financial institution for a taxation year is the sum of, (a) 0.45 per cent multiplied by the ratio of the number of days in the year that are before January 1, 2010 to the total number of days in the year; and (b) 0.3 per cent multiplied by the ratio of the number of days in the year that are after December 31, 2009 and before July 1, 2010 to the total number of days in the year. (c)  Repealed:  2008, c. 7, Sched. S, s. 18 (1). 2007, c. 11, Sched. A, s. 72 (2); 2008, c. 7, Sched. S, s. 18 (1). Basic capital amount (3) A financial institution’s basic capital amount for a taxation year is determined as follows: 1. If the financial institution is related at any time in the year to another corporation that, i. is a financial institution, ii. has a permanent establishment in Canada, and iii. is not exempt from tax payable under, A. this Division by reason of clause 64 (2) (b), (c), (d), (e) or (f), or B. Part III of the Corporations Tax Act by reason of subsection 71 (1) of that Act, the financial institution’s basic capital amount for the year is the amount calculated using the formula, G/H × $400 million in which, “G”   is the amount of the financial institution’s taxable capital employed in Canada for the year, and “H”   is the sum of the amount of “G” for the year and all amounts each of which is the taxable capital employed in Canada of one of those related financial institutions for its last taxation year ending at or before the end of the financial institution’s taxation year. 2. If paragraph 1 does not apply, the financial institution’s basic capital amount for the year is $400 million. 2007, c. 11, Sched. A, s. 72 (3). Additional capital tax rate (4) The additional capital tax rate for a financial institution for a taxation year is determined as follows: 1. If the financial institution is a deposit-taking institution in the taxation year or is related in the year to a deposit-taking institution, the additional capital tax rate is the sum of, i. 0.675 per cent multiplied by the ratio of the number of days in the year that are before January 1, 2010 to the total number of days in the year, and ii. 0.45 per cent multiplied by the ratio of the number of days in the year that are after December 31, 2009 and before July 1, 2010 to the total number of days in the year. iii.  Repealed:  2008, c. 7, Sched. S, s. 18 (2). 2. If the financial institution is not a deposit-taking institution in the taxation year and is not related in the year to a deposit-taking institution, the additional capital tax rate is the sum of, i. 0.54 per cent multiplied by the ratio of the number of days in the year that are before January 1, 2010 to the total number of days in the year, and ii. 0.36 per cent multiplied by the ratio of the number of days in the year that are after December 31, 2009 and before July 1, 2010 to the total number of days in the year. iii.  Repealed:  2008, c. 7, Sched. S, s. 18 (3). 2007, c. 11, Sched. A, s. 72 (4); 2008, c. 7, Sched. S, s. 18 (2, 3). Section Amendments with date in force (d/m/y) 2008, c. 7, Sched. S, s. 18 (1-3) - 01/01/2008