Income Tax Act
Marginal note:Definitions
125.7 (1) The following definitions apply in this section and in subsection 163(2.901).
- baseline remuneration
baseline remuneration, in respect of an eligible employee of an eligible entity, means the average weekly eligible remuneration, excluding any period of seven or more consecutive days for which the employee was not remunerated, paid to the eligible employee by the eligible entity during the period that
(a) begins on January 1, 2020 and ends on March 15, 2020; or
(b) if the eligible entity elects,
(i) begins on March 1, 2019 and ends on May 31, 2019, in respect of a qualifying period described in any of paragraphs (a) to (c) of the definition qualifying period,
(ii) begins on March 1, 2019 and ends on June 30, 2019, in respect of a qualifying period described in paragraph (c.1) of the definition qualifying period, unless the eligible entity elects to use the period that begins on March 1, 2019 and ends on May 31, 2019 for that qualifying period, or
(iii) begins on July 1, 2019 and ends on December 31, 2019, in respect of a qualifying period described in any of paragraphs (c.2) to (d) of the definition qualifying period. (rémunération de base)
- base percentage
base percentage, of an eligible entity for a qualifying period, means
(a) for the qualifying period referred to in paragraph (c.2) of the definition qualifying period,
(i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 60%, and
(ii) in any other case, 1.2 multiplied by the revenue reduction percentage;
(b) for the qualifying period referred to in paragraph (c.3) of the definition qualifying period,
(i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 60%, and
(ii) in any other case, 1.2 multiplied by the revenue reduction percentage;
(c) for the qualifying period referred to in paragraph (c.4) of the definition qualifying period,
(i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 50%, and
(ii) in any other case, 1 multiplied by the revenue reduction percentage;
(d) for the qualifying period referred to in paragraph (c.5) of the definition qualifying period,
(i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 40%, and
(ii) in any other case, 0.8 multiplied by the revenue reduction percentage;
(e) for the qualifying period referred to in paragraph (c.6) of the definition qualifying period,
(i) if the entity’s revenue reduction percentage is greater than or equal to 50%, 20%, and
(ii) in any other case, 0.4 multiplied by the revenue reduction percentage; and
(f) for the qualifying period referred to in paragraph (d) of the definition qualifying period, a percentage determined by regulation in respect of the eligible entity. (pourcentage de base)
- current reference period
current reference period, for a qualifying period, means
(a) for the qualifying period referred to in paragraph (a) of the definition qualifying period, March 2020;
(b) for the qualifying period referred to in paragraph (b) of the definition qualifying period, April 2020;
(c) for the qualifying period referred to in paragraph (c) of the definition qualifying period, May 2020;
(c.1) for the qualifying period referred to in paragraph (c.1) of the definition qualifying period, June 2020;
(c.2) for the qualifying period referred to in paragraph (c.2) of the definition qualifying period, July 2020;
(c.3) for the qualifying period referred to in paragraph (c.3) of the definition qualifying period, August 2020;
(c.4) for the qualifying period referred to in paragraph (c.4) of the definition qualifying period, September 2020;
(c.5) for the qualifying period referred to in paragraph (c.5) of the definition qualifying period, October 2020;
(c.6) for the qualifying period referred to in paragraph (c.6) of the definition qualifying period, November 2020; and
(d) for the qualifying period referred to in paragraph (d) of the definition qualifying period, a prescribed period. (période de référence actuelle)
- eligible employee
eligible employee, of an eligible entity in respect of a week in a qualifying period, means an individual employed in Canada by the eligible entity in the qualifying period, other than, if the qualifying period is described in any of paragraphs (a) to (c.1) of the definition qualifying period, an individual who is without remuneration by the eligible entity in respect of 14 or more consecutive days in the qualifying period. (employé admissible)
- eligible entity
eligible entity means
(a) a corporation or a trust, other than a corporation or a trust that is exempt from tax under this Part or is a public institution;
(b) an individual other than a trust;
(c) a registered charity, other than a public institution;
(d) a person that is exempt from tax under this Part because of paragraph 149(1)(e), (j), (k) or (l), other than a public institution;
(e) a partnership, all of the members of which are described in this paragraph or any of paragraphs (a) to (d); or
(f) a prescribed organization. (entité déterminée)
- eligible remuneration
eligible remuneration, of an eligible employee of an eligible entity, means amounts described in paragraph 153(1)(a) or (g), other than
(a) for greater certainty, a retiring allowance;
(b) amounts deemed to have been received by the eligible employee as a benefit under or because of any of paragraphs 7(1)(a) to (d.1);
(c) any amount received that can reasonably be expected to be paid or returned, directly or indirectly, in any manner whatever, to
(i) the eligible entity,
(ii) a person or partnership not dealing at arm’s length with the eligible entity, or
(iii) another person or partnership at the direction of the eligible entity; and
(d) any amount that is paid in respect of a week in the qualifying period, if, as part of an arrangement involving the eligible employee and the eligible entity,
(i) the amount is in excess of the eligible employee’s baseline remuneration,
(ii) after the qualifying period, the eligible employee is reasonably expected to be paid a lower weekly amount than their baseline remuneration, and
(iii) one of the main purposes for the arrangement is to increase the amount of the deemed overpayment under subsection (2). (rémunération admissible)
- prior reference period
prior reference period, for a qualifying period of an eligible entity, means
(a) subject to paragraph (b),
(i) for the qualifying period referred to in paragraph (a) of the definition qualifying period, March 2019,
(ii) for the qualifying period referred to in paragraph (b) of the definition qualifying period, April 2019,
(iii) for the qualifying period referred to in paragraph (c) of the definition qualifying period, May 2019,
(iv) for the qualifying period referred to in paragraph (c.1) of the definition qualifying period, June 2019,
(v) for the qualifying period referred to in paragraph (c.2) of the definition qualifying period, July 2019,
(vi) for the qualifying period referred to in paragraph (c.3) of the definition qualifying period, August 2019,
(vii) for the qualifying period referred to in paragraph (c.4) of the definition qualifying period, September 2019,
(viii) for the qualifying period referred to in paragraph (c.5) of the definition qualifying period, October 2019, and
(ix) for the qualifying period referred to in paragraph (c.6) of the definition qualifying period, November 2019;
(b) January and February 2020, if
(i) on March 1, 2019, the eligible entity was not carrying on business or otherwise carrying on its ordinary activities and the qualifying period is referred to in any of paragraphs (a) to (c.1) of the definition qualifying period, or
(ii) the qualifying period is referred to in any of
(A) paragraphs (a) to (c.1) of the definition qualifying period and the eligible entity elects for all of the periods set out in paragraphs (a) to (c) of that definition, or
(B) paragraphs (c.2) to (d) of the definition qualifying period and the eligible entity elects for all of the periods set out in those paragraphs; and
(c) for the qualifying period referred to in paragraph (d) of the definition qualifying period, a prescribed period. (période de référence antérieure)
- public institution
public institution means
(a) an organization described in any of paragraphs 149(1)(a) to (d.6); or
(b) a school, school board, hospital, health authority, public university or college. (institution publique)
- qualifying entity
qualifying entity, for a qualifying period, means an eligible entity that meets the following conditions:
(a) it files an application with the Minister in respect of the qualifying period in prescribed form and manner, before February 2021;
(b) the individual who has principal responsibility for the financial activities of the eligible entity attests that the application is complete and accurate in all material respects;
(c) if the qualifying period is described in any of paragraphs (a) to (c.1) of the definition qualifying period, its qualifying revenues for the current reference period are equal to or less than the specified percentage, for the qualifying period, of
(i) if paragraph (a) or (c) of the definition prior reference period applies, its qualifying revenues for the prior reference period, and
(ii) if paragraph (b) of the definition prior reference period applies, the amount determined by the formula
0.5A(B/C)
where
- A
- is its qualifying revenues for the prior reference period,
- B
- is the number of days in the prior reference period, and
- C
- is the number of days in the prior reference period during which the eligible entity was carrying on business; and
(d) it meets either of the following conditions:
(i) it had, on March 15, 2020, a business number in respect of which it is registered with the Minister to make remittances required under section 153, or
(ii) it is the case that
(A) on March 15, 2020,
(I) it employed one or more individuals in Canada,
(II) the payroll for its employees was administered by another person or partnership (referred to in this subparagraph as the “payroll service provider”), and
(III) the payroll service provider had a business number in respect of which it is registered with the Minister to make remittances required under section 153,
(B) the payroll service provider used its business number to make the remittances referred to in subclause (A)(III) in respect of the employees of the eligible entity, and
(C) the Minister is satisfied that the conditions in clauses (A) and (B) are met. (entité admissible)
- qualifying period
qualifying period means
(a) the period that begins on March 15, 2020 and ends on April 11, 2020;
(b) the period that begins on April 12, 2020 and ends on May 9, 2020;
(c) the period that begins on May 10, 2020 and ends on June 6, 2020;
(c.1) the period that begins on June 7, 2020 and ends on July 4, 2020;
(c.2) the period that begins on July 5, 2020 and ends on August 1, 2020;
(c.3) the period that begins on August 2, 2020 and ends on August 29, 2020;
(c.4) the period that begins on August 30, 2020 and ends on September 26, 2020;
(c.5) the period that begins on September 27, 2020 and ends on October 24, 2020;
(c.6) the period that begins on October 25, 2020 and ends on November 21, 2020; or
(d) a prescribed period that ends no later than December 31, 2020. (période d’admissibilité)
- qualifying revenue
qualifying revenue, of an eligible entity for a prior reference period or a current reference period, means the inflow of cash, receivables or other consideration arising in the course of the ordinary activities of the eligible entity — generally from the sale of goods, the rendering of services and the use by others of resources of the eligible entity — in Canada in the particular period, subject to the following:
(a) in the case of an eligible entity described in paragraph (c) of the definition eligible entity,
(i) it includes revenue from a related business (as defined in subsection 149.1(1)), gifts and other amounts received in the course of its ordinary activities, and
(ii) notwithstanding subparagraph (i), the eligible entity may elect to exclude funding received from government sources in the determination of its qualifying revenue for all of its prior reference periods and current reference periods;
(b) in the case of an eligible entity described in paragraph (d) of the definition eligible entity,
(i) it includes membership fees and other amounts received in the course of its ordinary activities, and
(ii) notwithstanding subparagraph (i), the eligible entity may elect to exclude funding received from government sources in the determination of its qualifying revenue for all of its prior reference periods and current reference periods;
(b.1) in the case of an eligible entity prescribed in paragraph (f) of the definition eligible entity that would be described in paragraph (c) or (d) of that definition if it were not a public institution, subparagraphs (a)(i) and (ii) apply to an eligible entity that would be described in paragraph (c) of that definition and subparagraphs (b)(i) and (ii) apply to an eligible entity that would be described in paragraph (d) of that definition;
(c) it excludes, for greater certainty, extraordinary items;
(d) it excludes amounts derived from persons or partnerships not dealing at arm’s length with the eligible entity; and
(e) it excludes, for greater certainty, deemed overpayments under subsection (2) and deemed remittances under subsection 153(1.02). (revenu admissible)
- revenue reduction percentage
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
specified percentage, for a qualifying period, means
(a) for the qualifying period referred to in paragraph (a) of the definition qualifying period, 85%;
(b) for the qualifying period referred to in paragraph (b) or (c) of the definition qualifying period, 70%; and
(c) for the qualifying period referred to in paragraph (d) of the definition qualifying period, the prescribed percentage. (pourcentage déterminé)
- top-up percentage
top-up percentage, of an eligible entity for a qualifying period, means 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. (pourcentage compensatoire)
- top-up revenue reduction percentage
top-up 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 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
(a) if the prior reference period for the qualifying period is January and February 2020, January and February 2020, and
(b) in any other case, the last three calendar months that ended prior to the prior reference period for the qualifying period. (pourcentage compensatoire de baisse de revenu)
Marginal note:COVID-19 — wage subsidy
(2) For a qualifying entity for a qualifying period, an overpayment on account of the qualifying entity’s liability under this Part for the taxation year in which the qualifying period ends is deemed to have arisen during the qualifying period in an amount determined by the formula
A − B − C + D
where
- A
- is the total of all amounts, each of which is for an eligible employee in respect of a week in the qualifying period,
(a) if the qualifying period is described in any of paragraphs (a) to (c.1) of the definition qualifying period in subsection (1), equal to the greater of
(i) the least of
(A) 75% of eligible remuneration paid to the eligible employee by the qualifying entity in respect of that week,
(B) $847, and
(C) if the eligible employee does not deal at arm’s length with the qualifying entity in the qualifying period, nil, and
(ii) the least of
(A) the amount of eligible remuneration paid to the eligible employee by the qualifying entity in respect of that week,
(B) 75% of baseline remuneration in respect of the eligible employee determined for that week, and
(C) $847, and
(b) if the qualifying period is described in any of paragraphs (c.2) to (d) of the definition qualifying period in subsection (1),
(i) if the eligible employee is not on leave with pay for that week and the qualifying period is described in paragraph (c.2) or (c.3) of the definition qualifying period in subsection (1), the greater of
(A) an amount equal to
(I) nil, if the revenue reduction percentage of the qualifying entity for the qualifying period is less than 30%, and
(II) in any other case, the greater of the amount determined under subparagraph (a)(i) and the amount determined under subparagraph (a)(ii), and
(B) the amount determined by the formula in subparagraph (ii),
(ii) if the eligible employee is not on leave with pay for that week and the qualifying period is described in any of paragraphs (c.4) to (d) of the definition qualifying period in subsection (1), the amount determined by the formula
(E + F) × G
where
- E
- is the qualifying entity’s base percentage for the qualifying period,
- F
- is the qualifying entity’s top-up percentage for the qualifying period, and
- G
- is the least of
(A) the amount of eligible remuneration paid to the eligible employee by the qualifying entity in respect of that week,
(B) $1,129, and
(C) if the eligible employee does not deal at arm’s length with the qualifying entity in the qualifying period, the baseline remuneration in respect of the eligible employee determined for that week,
(iii) if the eligible employee is on leave with pay for that week and the qualifying period is described in paragraph (c.2) or (c.3) of the definition qualifying period in subsection (1),
(A) nil, unless
(I) the revenue reduction percentage of the qualifying entity for the qualifying period is greater than 0%, or
(II) the top-up percentage of the qualifying entity for the qualifying period is greater than 0%, and
(B) in any other case, the greater of the amount determined under subparagraph (a)(i) and the amount determined under subparagraph (a)(ii), and
(iv) if the eligible employee is on leave with pay for that week and the qualifying period is described in any of paragraphs (c.4) to (d) of the definition qualifying period in subsection (1), the least of
(A) the amount of eligible remuneration paid to the eligible employee by the qualifying entity in respect of that week,
(B) an amount determined by regulation in respect of the qualifying entity for the qualifying period,
(C) nil, if
(I) the eligible employee does not deal at arm’s length with the qualifying entity in the qualifying period, and
(II) the baseline remuneration of the eligible employee for that week is nil, and
(D) nil, unless
(I) the revenue reduction percentage of the qualifying entity for the qualifying period is greater than 0%, or
(II) the top-up percentage of the qualifying entity for the qualifying period is greater than 0%;
- B
- is the total of all amounts each of which is an amount deemed to have been remitted under subsection 153(1.02) by the qualifying entity in the qualifying period;
- C
- is the total of all amounts received by the eligible employee for each week in the qualifying period as a work-sharing benefit under the Employment Insurance Act; and
- D
- is
(a) nil, if the qualifying period is described in any of paragraphs (c.2) to (d) of the definition qualifying period in subsection (1), unless
(i) the revenue reduction percentage of the qualifying entity for the qualifying period is greater than 0%, or
(ii) the top-up percentage of the qualifying entity for the qualifying period is greater than 0%, and
(b) in any other case, the total of all amounts, each of which is for an eligible employee in respect of a week in the qualifying period, if the eligible employee is on leave with pay for that week and the amount is
(i) an amount payable by the qualifying entity
(A) as an employer’s premium under the Employment Insurance Act, or
(B) as an employer’s contribution under the Canada Pension Plan or under a provincial pension plan as defined in section 3 of the Canada Pension Plan, or
(ii) an amount payable by the qualifying entity as an employer’s premium under the Act respecting parental insurance, CQLR, c. A-29.011.
Marginal note:When assistance received
(3) For the purposes of this Act other than this section, and for greater certainty, the amount that a qualifying entity is deemed under subsection (2) to have overpaid is assistance received by it from a government immediately before the end of the qualifying period to which it relates.
Marginal note:Computation of revenue
(4) For the purposes of the definition qualifying revenue in subsection (1), the qualifying revenue of an eligible entity is to be determined in accordance with its normal accounting practices, except that
(a) if a group of eligible entities normally prepares consolidated financial statements, each member of the group may determine its qualifying revenue separately, provided every member of the group determines its qualifying revenue on that basis;
(b) if an eligible entity and each member of an affiliated group of eligible entities of which the eligible entity is a member jointly elect, the qualifying revenue of the group determined on a consolidated basis in accordance with relevant accounting principles is to be used for each member of the group;
(c) if all of the interests in an eligible entity are owned by participants in a joint venture and all or substantially all of the qualifying revenue of the eligible entity for a qualifying period is in respect of the joint venture, then the eligible entity may use the qualifying revenues of the joint venture (determined as if the joint venture were an eligible entity) instead of its qualifying revenues for the purposes of paragraph (c) of the definition qualifying entity in subsection (1);
(d) if all or substantially all of an eligible entity’s qualifying revenue — determined without reference to paragraph (d) of the definition qualifying revenue in subsection (1) — for a qualifying period is from one or more particular persons or partnerships with which it does not deal at arm’s length and each particular person or partnership jointly elects with the eligible entity, for the purposes of paragraph (c) of the definition qualifying entity in subsection (1)
(i) the eligible entity’s qualifying revenue for the prior reference period is deemed to be $100, and
(ii) the eligible entity’s qualifying revenue for the current reference period is deemed to be the total of all amounts, each of which is determined by the formula
$100(A/B)(C/D)
where
- A
- is the eligible entity’s qualifying revenue (determined without reference to paragraph (d) of the definition qualifying revenue in subsection (1)) for the current reference period attributable to a particular person or partnership,
- B
- is the total of all amounts, each of which is the eligible entity’s qualifying revenue (determined without reference to paragraph (d) of the definition qualifying revenue in subsection (1)) for the current reference period attributable to a particular person or partnership,
- C
- is the particular person or partnership’s qualifying revenue (determined as if the definition qualifying revenue in subsection (1) were read without reference to “in Canada”) for the current reference period, and
- D
- is the particular person or partnership’s qualifying revenue (determined as if the definition qualifying revenue in subsection (1) were read without reference to “in Canada”) for the prior reference period; and
(e) an eligible entity may make an election, which must apply for all qualifying periods, to determine its qualifying revenues based on
(i) the cash method, within the meaning assigned by subsection 28(1) with any modifications that the circumstances require, or
(ii) the accrual method, in accordance with generally accepted accounting principles.
Marginal note:Asset sales — conditions
(4.1) Subsection (4.2) applies to an eligible entity in respect of a qualifying period if
(a) the eligible entity acquired assets (referred to in this subsection and subsection (4.2) as the “acquired assets”) of a person or partnership (referred to in this subsection and subsection (4.2) as the “seller”) during the qualifying period or at any time before that period;
(b) immediately prior to the acquisition, the fair market value of the acquired assets constituted all or substantially all of the fair market value of the property of the seller used in the course of carrying on business;
(c) the acquired assets were used by the seller in the course of a business carried on in Canada by the seller;
(d) it is reasonable to conclude that none of the main purposes of the acquisition was to increase the amount of a deemed overpayment under subsection (2); and
(e) the eligible entity elects in respect of the qualifying period and files the election in prescribed form and manner with the Minister or, if the seller is in existence during the qualifying period, the eligible entity and the seller jointly elect in respect of that period and so file with the Minister.
Marginal note:Asset sales — application
(4.2) If this subsection applies to an eligible entity in respect of a qualifying period,
(a) the amount of the qualifying revenue of the seller for the prior reference period, or the current reference period, for the qualifying period that is reasonably attributable to the acquired assets (referred to in this subsection as the “assigned revenue”) is to be included in determining the qualifying revenue of the eligible entity for its prior reference period or current reference period, as the case may be, for the qualifying period;
(b) the assigned revenue is to be subtracted from the qualifying revenue of the seller for its prior reference period or current reference period, as the case may be, for the qualifying period;
(c) if a portion of the assigned revenue is from a person or partnership that did not deal at arm’s length with the seller and that person or partnership deals at arm’s length with the eligible entity throughout the current reference period, then that portion of the assigned revenue is deemed to not be derived from persons or partnerships not dealing at arm’s length for the purposes of paragraph (d) of the definition qualifying revenue in subsection (1); and
(d) if the seller meets either of the conditions in paragraph (d) of the definition qualifying entity in subsection (1), the eligible entity is deemed to meet that condition.
Marginal note:Deemed overpayment
(5) For the purposes of this section,
(a) the amount of any deemed overpayment by an eligible entity under subsection (2) in respect of a qualifying period cannot exceed the amount claimed by the qualifying entity — in the application referred to in paragraph (a) of the definition qualifying entity in subsection (1) — in respect of that qualifying period; and
(b) if an eligible employee is employed in a week by two or more qualifying entities that do not deal with each other at arm’s length, the total amount of the deemed overpayment under subsection (2) in respect of the eligible employee for that week shall not exceed the amount that would arise if the eligible employee’s eligible remuneration for that week were paid by one qualifying entity.
Marginal note:Anti-avoidance — qualifying revenues
(6) The qualifying revenue of an eligible entity for a current reference period for a qualifying period is deemed to be equal to the qualifying revenue of the eligible entity for the relevant prior reference period, if
(a) the eligible entity, or a person or partnership not dealing at arm’s length with the eligible entity, enters into a transaction or participates in an event (or a series of transactions or events) or takes an action (or fails to take an action) — other than, for greater certainty, a decision under subparagraph (a)(ii) or (b)(ii) of the definition qualifying revenue in subsection (1) or the decision to use one of the methods of computing qualifying revenues under subsection (4) — that has the effect of reducing the qualifying revenues (determined without reference to this subsection) of the eligible entity for the current reference period; and
(b) it is reasonable to conclude that one of the main purposes of the transaction, event, series or action in paragraph (a) is to
(i) cause an eligible entity to qualify for the deemed overpayment under subsection (2) in respect of that qualifying period, or
(ii) in respect of qualifying periods described in any of paragraphs (c.2) to (d) of the definition qualifying period in subsection (1), increase the amount of a deemed overpayment under subsection (2).
Marginal note:Partnerships
(7) A partnership is deemed
(a) for the purposes of subsection (2) and subsections 152(3.4) and 160.1(1), to be a taxpayer; and
(b) for the purposes of subsection (2), to have a liability under this Part for a taxation year in which a qualifying period ends.
Marginal note:Prescribed amounts
(8) For the purposes of the definition base percentage in subsection (1), the following may be prescribed:
(a) the percentages in subparagraphs (a)(i), (b)(i), (c)(i), (d)(i) and (e)(i); and
(b) the factors in subparagraphs (a)(ii), (b)(ii), (c)(ii), (d)(ii) and (e)(ii).
Marginal note:Deeming rules — revenue decline tests
(9) If, absent the application of this subsection,
(a) an eligible entity meets the conditions in paragraph (c) of the definition qualifying entity in subsection (1) in respect of a particular qualifying period described in any of paragraphs (a) to (c) of the definition qualifying period in subsection (1), then the eligible entity is deemed to meet the conditions of that paragraph in respect of the immediately following qualifying period; or
(b) a lower revenue reduction percentage is determined in respect of an eligible entity for a particular qualifying period described in any of paragraphs (c.2) to (d) of the definition qualifying period in subsection (1) than for the immediately preceding qualifying period, then the revenue reduction percentage in respect of the eligible entity for the particular qualifying period is deemed to be equal to its revenue reduction percentage for the immediately preceding qualifying period.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- 2020, c. 6, s. 2
- 2020, c. 11, s. 2
- Date modified: