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Versions of s. 149.1(1), definition “disbursement quota”

I-3.3 — Income Tax Act · 6 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2023-01-01 to present available View Source
    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A ÷ 365 × B × 0.035/365 where A is the number of days in the taxation year, and B is 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 thatthe prescribed amount is equal to or less than $1 million but greater than if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, 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 in any other case, nil; (contingent des versements)
    Full text

    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 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 if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, 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 in any other case, nil; (contingent des versements)

  2. 2018-12-13 to 2023-01-01 View Source
    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A × B × 0.035/365 where A is the number of days in the taxation year, and B is 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 that amount is greater than if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, and in any other case, nil; (contingent des versements)
    Full text

    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A × B × 0.035/365 where A is the number of days in the taxation year, and B is 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 that amount is greater than if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, and in any other case, nil; (contingent des versements)

  3. 2016-06-22 to 2018-12-13 View Source
    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A × B × 0.035/365 where A is the number of days in the taxation year, and B is 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 that amount is greater than if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, and in any other case, nil; (contingent des versements)
    Full text

    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A × B × 0.035/365 where A is the number of days in the taxation year, and B is 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 that amount is greater than if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, and in any other case, nil; (contingent des versements)

  4. 2010-12-15 to 2016-06-22 View Source
    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A + A.1 +× B +× B.10.035/365 where A is 80% of the total of all amounts each of which is the eligible amount of a gift for which the charity issued a receipt described in subsection 110.1(2) or 118.1(2) in its immediately preceding taxation year, other than a gift that is an enduring property, or received from another registered charity, A.1 is the amount, if any, by which the sum of 80% of the total of all amounts, each of which is the amount of an enduring property of the charity (other than an enduring property described in subparagraph (ii), an enduring property that was received by the charity as a specified gift, or a bequest or an inheritance received by the charity in a taxation year that included any time before 1994) to the extent that it is expended in the year, and the total of all amounts, each of which is the fair market value, when transferred, of an enduring property (other than an enduring property that was received by the charity as a specified gift) transferred by the charity in the taxation year by way of gift to a qualified donee exceeds the amount, if any, claimed by the charity, that may not exceed the lesser of 3.5% of the amount determined for D, and the capital gains pool of the charity for the taxation year, B is in the case of a private foundation, the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift or an enduring property, or in the case of a charitable organization or a public foundation, 80% of the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift or an enduring property, and B.1 is the amount determined by the formula C x 0.035 [D - (E + F)]/365 where C is the number of days in the taxation year, Dand B is the prescribed amount for the year, in respect of all or a portion of a property (other than a prescribed 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 that amount is greater than if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, and in any other case, nil, E is the total of the amount determined for subparagraph (a)(ii) of the description of A.1, and 5/4 of the total of the amounts determined for A and subparagraph (a)(i) of the description of A.1, for the year in respect of the charity, and F is the amount equal to in the case of a private foundation, the amount determined for B for the year in respect of the charity in accordance with paragraph (a) of the description of B, or in the case of a charitable organization or a public foundation, 5/4 of the amount determined for B for the year in respect of the charity in accordance with paragraph (b) of the description of B;nil;
    Full text

    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A × B × 0.035/365 where A is the number of days in the taxation year, and B is 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 that amount is greater than if the registered charity is a charitable organization, $100,000, and in any other case, $25,000, and in any other case, nil;

  5. 2005-05-13 to 2010-12-15 View Source
    disbursement quotaquota, for a taxation year of a charitableregistered foundationcharity, means the amount determined by the formula A + A.1 + B + [(C × 0.045[D - (E + F)]) / 365 ] + GB.1 where A is 80% of the total of all amounts each of which is the eligible amount of a gift for which the foundationcharity issued a receipt described in subsection 110.1(2) or 118.1(2) in its immediately preceding taxation year, other than a gift of capital received by way of bequest or inheritance, a gift received subject to a trust or direction to the effect that the property given, or property substituted therefor, is toan beenduring held by the foundation for a period of not less than 10 years,property, or a gift received from aanother registered charity, A.1 is the amount, if any, by which the sum of 80% of the total of all amountsamounts, each of which is the amount of an enduring property of the charity (other than an enduring property described in subparagraph (ii), an enduring property that was received by the charity as a giftspecified gift, or a bequest or an inheritance received by the charity in a preceding taxation year,year that included any time before 1994) to the extent that the amount of the giftit is expended in the year, and wasthe excludedtotal fromof all amounts, each of which is the disbursementfair quotamarket value, when transferred, of an enduring property (other than an enduring property that was received by the charity as a specified gift) transferred by the charity in the taxation year by way of gift to a qualified donee exceeds the amount, if any, claimed by the charity, that may not exceed the lesser of 3.5% of the foundationamount becausedetermined offor paragraphD, (a)and the capital gains pool of the description of Acharity for athe taxation year that begins after 1993, or because of paragraph (b) of the description of A,year, B is in the case of a private foundation, the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift,gift or an enduring property, or in the case of a charitable organization or a public foundation, 80% of the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift,gift or an enduring property, and B.1 is the amount determined by the formula C x 0.035 [D - (E + F)]/365 where C is the number of days in the taxation year, D is the prescribed amount for the yearyear, in respect of all or a portion of a property (other than a prescribed property) or a portion thereof owned by the foundationcharity at any time in the 24 months immediately preceding 24the monthstaxation year that was not used directly in charitable activities or administration, if that amount is greater than $25,000, and in any other case, nil, E is the total of the amount determined for subparagraph (a)(ii) of the description of A.1, and 5/4 of the total of the amounts determined for A and A.1subparagraph (a)(i) of the description of A.1, for the year in respect of the foundation,charity, and F is the amount equal to in the case of a private foundation, the amount determined as the value offor B for the year in respect of the charity in accordance with paragraph (a) of the description of B, or in the case of a charitable organization or a public foundation, 5/4 of the amount determined as the value offor B for the year in respect of the charity in accordance with paragraph (b) of the description of B, and G is, for each of the first 10 taxation years of the foundation commencing after 1983, a portion of the amount, if any, by which 90% of the amount, if any, by which the amount deducted by the foundation, for its last taxation year that commenced before 1984, pursuant to paragraph 149.1(18)(a) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, as it read for that year, exceeds the total of the amounts determined in respect of the foundation under clauses 149.1(1)(e)(iv)(B) to (D) of that Act for its first taxation year commencing after 1983 exceeds the total of all amounts each of which is an amount that, for a preceding taxation year, has been determined as the value of G or included under subparagraph 149.1(1)(e)(v) of the above-mentioned Act in determining the disbursement quota of the foundation, that is not less than the amount obtained when such excess is divided by the difference between 10 and the number of preceding taxation years of the foundation that commenced after 1983 and before the year;B;
    Full text

    disbursement quota, for a taxation year of a registered charity, means the amount determined by the formula A + A.1 + B + B.1 where A is 80% of the total of all amounts each of which is the eligible amount of a gift for which the charity issued a receipt described in subsection 110.1(2) or 118.1(2) in its immediately preceding taxation year, other than a gift that is an enduring property, or received from another registered charity, A.1 is the amount, if any, by which the sum of 80% of the total of all amounts, each of which is the amount of an enduring property of the charity (other than an enduring property described in subparagraph (ii), an enduring property that was received by the charity as a specified gift, or a bequest or an inheritance received by the charity in a taxation year that included any time before 1994) to the extent that it is expended in the year, and the total of all amounts, each of which is the fair market value, when transferred, of an enduring property (other than an enduring property that was received by the charity as a specified gift) transferred by the charity in the taxation year by way of gift to a qualified donee exceeds the amount, if any, claimed by the charity, that may not exceed the lesser of 3.5% of the amount determined for D, and the capital gains pool of the charity for the taxation year, B is in the case of a private foundation, the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift or an enduring property, or in the case of a charitable organization or a public foundation, 80% of the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift or an enduring property, and B.1 is the amount determined by the formula C x 0.035 [D - (E + F)]/365 where C is the number of days in the taxation year, D is the prescribed amount for the year, in respect of all or a portion of a property (other than a prescribed 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 that amount is greater than $25,000, and in any other case, nil, E is the total of the amount determined for subparagraph (a)(ii) of the description of A.1, and 5/4 of the total of the amounts determined for A and subparagraph (a)(i) of the description of A.1, for the year in respect of the charity, and F is the amount equal to in the case of a private foundation, the amount determined for B for the year in respect of the charity in accordance with paragraph (a) of the description of B, or in the case of a charitable organization or a public foundation, 5/4 of the amount determined for B for the year in respect of the charity in accordance with paragraph (b) of the description of B;

  6. 2004-08-31 to 2005-05-13 View Source

    disbursement quota for a taxation year of a charitable foundation means the amount determined by the formula A + A.1 + B + [(C × 0.045[D - (E + F)]) / 365 ] + G where A is 80% of the total of all amounts each of which is the amount of a gift for which the foundation issued a receipt described in subsection 110.1(2) or 118.1(2) in its immediately preceding taxation year, other than a gift of capital received by way of bequest or inheritance, a gift received subject to a trust or direction to the effect that the property given, or property substituted therefor, is to be held by the foundation for a period of not less than 10 years, or a gift received from a registered charity, A.1 is 80% of the total of all amounts each of which is the amount of a gift received in a preceding taxation year, to the extent that the amount of the gift is expended in the year, and was excluded from the disbursement quota of the foundation because of paragraph (a) of the description of A for a taxation year that begins after 1993, or because of paragraph (b) of the description of A, B is in the case of a private foundation, the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift, or in the case of a public foundation, 80% of the total of all amounts each of which is an amount received by it in its immediately preceding taxation year from a registered charity, other than an amount that is a specified gift, C is the number of days in the taxation year, D is the prescribed amount for the year in respect of property (other than a prescribed property) or a portion thereof owned by the foundation at any time in the immediately preceding 24 months that was not used directly in charitable activities or administration, E is 5/4 of the total of the amounts determined for A and A.1 for the year in respect of the foundation, F is the amount equal to in the case of a private foundation, the amount determined as the value of B for the year in accordance with paragraph (a) of the description of B, or in the case of a public foundation, 5/4 of the amount determined as the value of B for the year in accordance with paragraph (b) of the description of B, and G is, for each of the first 10 taxation years of the foundation commencing after 1983, a portion of the amount, if any, by which 90% of the amount, if any, by which the amount deducted by the foundation, for its last taxation year that commenced before 1984, pursuant to paragraph 149.1(18)(a) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, as it read for that year, exceeds the total of the amounts determined in respect of the foundation under clauses 149.1(1)(e)(iv)(B) to (D) of that Act for its first taxation year commencing after 1983 exceeds the total of all amounts each of which is an amount that, for a preceding taxation year, has been determined as the value of G or included under subparagraph 149.1(1)(e)(v) of the above-mentioned Act in determining the disbursement quota of the foundation, that is not less than the amount obtained when such excess is divided by the difference between 10 and the number of preceding taxation years of the foundation that commenced after 1983 and before the year;