Accounting Radion Faux Industries Ltd Tax Software Project

File RadionFaux Industries Ltd. CRA Business # NR Year-end: 2022/12/31
200
Code 2201
Protected B
T2 Corporation Income Tax Return
(2022 and later tax years)
This form serves as a federal, provincial, and territorial corporation income tax return, unless the corporation is located in
Quebec or Alberta. If the corporation is located in one of these provinces, you have to file a separate provincial
corporation return. A shorter version of the return, the T2SHORT, is available for eligible corporations.
All legislative references on this return are to the federal Income Tax Act and Income Tax Regulations. This return may
contain changes that had not yet become law at the time of publication.
Send one completed copy of this return, including schedules and the General Index of Financial Information (GIFI), to your
tax centre. You have to file the return within six months after the end of the corporation’s tax year.
when completed
055
Do not use this area
For more information see canada.ca/taxes or Guide T4012, T2 Corporation – Income Tax Guide.
Identification
Business number (BN) . . . . . . . . . . . . . . . . . . . . . . . . . . .
001
N R
Corporation’s name
002
R C
To which tax year does this return apply?
Tax year start
Year Month Day
RadionFaux Industries Ltd.
Address of head office
Has this address changed since the
last time the CRA was notified? . . . .
If yes, complete lines 011 to 018.
011
060
010
Yes
No
123 ABC Street
012
Province, territory, or state
City
015
Ottawa
016
017
ON
Postal or ZIP code
Country (other than Canada)
018
K4E 1A1
Mailing address (if different from head office address)
Has this address changed since the
Yes
last time the CRA was notified? . . . . 020
If yes, complete lines 021 to 028.
021
022
023
c/o
123 ABC Street
City
025
Ottawa
061
2022 / 12 / 31
Has there been an acquisition of control
resulting in the application of
subsection 249(4) since the tax year
start on line 060? . . . . . . . . . . . . . . . . . . .
063
Yes
If yes, provide the date control was
acquired . . . . . . . . . . . . . . . . . . . . . . . . . . .
065
Is the date on line 061 a deemed
tax year-end according to
subsection 249(3.1)? . . . . . . . . . . . . . . . .
066
Is the corporation a professional
corporation that is a member of a
partnership? . . . . . . . . . . . . . . . . . . . . . . .
No
Yes
No
067
Yes
No
070
071
Yes
Yes
No
No
072
Yes
No
Is this the final tax year before
amalgamation? . . . . . . . . . . . . . . . . . . . .
076
Yes
No
Is this the final return up to
dissolution? . . . . . . . . . . . . . . . . . . . . . . .
078
Yes
No
If an election was made under
section 261, state the functional
currency used . . . . . . . . . . . . . . . . . . . . .
079
080
Yes
No
Is this the first year of filing after:
Incorporation? . . . . . . . . . . . . . . . . . . . . .
Province, territory, or state
026
ON
Postal or ZIP code
028
If yes, complete lines 031 to 038.
031 123 ABC Street
032
Province, territory, or state
City
036
ON
Is the corporation a resident of Canada?
Postal or ZIP code
038
K4E 1A1
If no, give the country of residence on line 081 and complete and attach
Schedule 97.
Country (other than Canada)
037
Has there been a wind-up of a
subsidiary under section 88 during the
current tax year? . . . . . . . . . . . . . . . . . . .
If yes, complete and attach Schedule 24.
K4E 1A1
Location of books and records (if different from head office address)
Has this address changed since the
Yes
No
last time the CRA was notified? . . . . 030
Ottawa
No
Year Month Day
Huu Phuoc
027
040
2022 / 01 / 01
Amalgamation? . . . . . . . . . . . . . . . . . . . .
If yes, complete lines 030 to 038 and attach Schedule 24.
Country (other than Canada)
035
Tax year-end
Year Month Day
081
Type of corporation at the end of the tax year (tick one)
Is the non-resident corporation claiming
an exemption under an income tax
treaty? . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If yes, complete and attach Schedule 91.
1 Canadian-controlled private corporation (CCPC)
2 Other private corporation
082
Yes
No
3 Public corporation
If the corporation is exempt from tax under section 149, tick one of the
following boxes:
4 Corporation controlled by a public corporation
5 Other corporation (specify)
If the type of corporation changed
during the tax year, provide the
effective date of the change . . . . . .
085
Year Month Day
1 Exempt under paragraph 149(1)(e) or (l)
2 Exempt under paragraph 149(1)(j)
4 Exempt under other paragraphs of section 149
043
Do not use this area
095
T2 E (23)
096
898
(Ce formulaire est disponible en français.)
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File RadionFaux Industries Ltd. CRA Business # NR Year-end: 2022/12/31
Protected B when completed
Attachments
Financial statement information: Use GIFI schedules 100, 125, and 141.
Schedules – Answer the following questions. For each yes response, attach the schedule to the T2 return, unless otherwise instructed.
Yes Schedule
Is the corporation related to any other corporations? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
150
9
Is the corporation an associated CCPC? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation an associated CCPC that is claiming the expenditure limit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Does the corporation have any non-resident shareholders who own voting shares? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
160
161
151
23
49
19
Has the corporation had any transactions, including section 85 transfers, with its shareholders, officers, or employees,
other than transactions in the ordinary course of business? Exclude non-arm’s length transactions with non-residents . . . . . . . . . . .
162
11
If you answered yes to the above question, and the transaction was between corporations not dealing at arm’s length,
were all or substantially all of the assets of the transferor disposed of to the transferee? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has the corporation paid any royalties, management fees, or other similar payments to residents of Canada? . . . . . . . . . . . . . . . . . .
Is the corporation claiming a deduction for payments to a type of employee benefit plan? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
163
164
165
44
14
15
Is the corporation claiming a loss or deduction from a tax shelter? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation a member of a partnership for which a partnership account number has been assigned? . . . . . . . . . . . . . . . . . . . .
166
167
T5004
T5013
168
169
22
25
Did the corporation, a foreign affiliate controlled by the corporation, or any other corporation or trust that did not deal at arm’s length
with the corporation have a beneficial interest in a non-resident discretionary trust (without reference to section 94)? . . . . . . . . . . . .
Did the corporation own any shares in one or more foreign affiliates in the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has the corporation made any payments to non-residents of Canada under subsections 202(1) and/or 105(1) of
the Income Tax Regulations? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
170
29
Did the corporation have a total amount over CAN$1 million of reportable transactions with non-arm’s length non-residents? . . . . . .
171
T106
For private corporations: Does the corporation have any shareholders who own 10% or more of the corporation’s common
and/or preferred shares? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
173
50
Has the corporation made payments to, or received amounts from, a retirement compensation plan arrangement during the year?
Does the corporation earn income from one or more Internet web pages or websites? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the net income/loss shown on the financial statements different from the net income/loss for income tax purposes? . . . . . . . . . . .
172
180
201
88
1
Has the corporation made any charitable donations; gifts of cultural or ecological property; or gifts of medicine? . . . . . . . . . . . . . . . .
Has the corporation received any dividends or paid any taxable dividends for purposes of the dividend refund? . . . . . . . . . . . . . . . .
Is the corporation claiming any type of losses? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
202
203
204
2
3
4
Is the corporation claiming a provincial or territorial tax credit or does it have a
permanent establishment in more than one jurisdiction? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has the corporation realized any capital gains or incurred any capital losses during the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . .
205
206
5
6
i) Is the corporation a CCPC and reporting a) income or loss from property (other than dividends deductible on line 320 of the T2
return), b) income from a partnership, c) income from a foreign business, d) income from a personal services business, e) income
referred to in clause 125(1)(a)(i)(C) or 125(1)(a)(i)(B), f) aggregate investment income as defined in subsection 129(4), or g) an
amount assigned to it under subsection 125(3.2) or 125(8); or
ii) Is the corporation a member of a partnership and assigning its specified partnership business limit to a designated member under
subsection 125(8)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Does the corporation have any property that is eligible for capital cost allowance? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Does the corporation have any resource-related deductions? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
207
208
212
7
8
12
Is the corporation claiming deductible reserves? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming a patronage dividend deduction? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation a credit union claiming a deduction for allocations in proportion to borrowing or a provincial credit union tax reduction?
213
216
217
13
16
17
Is the corporation an investment corporation or a mutual fund corporation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation carrying on business in Canada as a non-resident corporation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming any federal, provincial, or territorial foreign tax credits, or any federal logging tax credits? . . . . . . . . . . . .
Does the corporation have any Canadian manufacturing and processing profits or zero-emission technology manufacturing profits?
218
220
221
18
20
21
Is the corporation claiming an investment tax credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming any scientific research and experimental development (SR&ED) expenditures? . . . . . . . . . . . . . . . . . . . .
227
231
232
27
31
T661
Is the total taxable capital employed in Canada of the corporation and its related corporations over $10,000,000? . . . . . . . . . . . . . . .
Is the total taxable capital employed in Canada of the corporation and its associated corporations over $10,000,000? . . . . . . . . . . . .
Is the corporation subject to gross Part VI tax on capital of financial institutions? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
233
234
238
33/34/35
Is the corporation claiming a Part I tax credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation subject to Part IV.1 tax on dividends received on taxable preferred shares or Part VI.1 tax on dividends paid? . . .
Is the corporation agreeing to a transfer of the liability for Part VI.1 tax? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
242
243
244
42
43
45
250
253
254
39
T1131
T1177
58
Huu Phuoc
For financial institutions: Is the corporation a member of a related group of financial institutions
with one or more members subject to gross Part VI tax? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming a Canadian film or video production tax credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming a film or video production services tax credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming a Canadian journalism labour tax credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation subject to Part XIII.1 tax? (Show your calculations on a sheet that you identify as Schedule 92.) . . . . . . . . . . . . . .
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255
38
92
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Attachments (continued)
Did the corporation have any foreign affiliates in the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Did the corporation own or hold specified foreign property where the total cost amount of all such property, at any time in the year,
was more than CAN$100,000? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Did the corporation transfer or loan property to a non-resident trust? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
271
T1134
259
260
T1135
T1141
Did the corporation receive a distribution from or was it indebted to a non-resident trust in the year? . . . . . . . . . . . . . . . . . . . . . . . . .
Has the corporation entered into an agreement to allocate assistance for SR&ED carried out in Canada? . . . . . . . . . . . . . . . . . . . . .
Has the corporation entered into an agreement to transfer qualified expenditures incurred in respect of SR&ED contracts? . . . . . . .
261
262
263
T1142
T1145
T1146
Has the corporation entered into an agreement with other associated corporations for salary or wages of
specified employees for SR&ED? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Did the corporation pay taxable dividends (other than capital gains dividends) in the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
264
265
T1174
55
Has the corporation made an election under subsection 89(11) not to be a CCPC? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Has the corporation revoked any previous election made under subsection 89(11)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
266
267
T2002
T2002
Did the corporation (CCPC or deposit insurance corporation (DIC)) pay eligible dividends, or did its
general rate income pool (GRIP) change in the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
268
53
269
54
63
59
65
68
Did the corporation (other than a CCPC or DIC) pay eligible dividends, or did its low rate income pool (LRIP)
change in the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming a return of fuel charge proceeds to farmers tax credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Are you an employer reporting a non-qualified security agreement under subsection 110(1.9)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation claiming an air quality improvement tax credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the corporation subject to the additional 1.5% tax on banks and life insurers? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
273
274
275
276
Additional information
Did the corporation use the International Financial Reporting Standards (IFRS) when it prepared its financial statements?
Is the corporation inactive? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specify the principal products mined, manufactured,
sold, constructed, or services provided, giving the
approximate percentage of the total revenue that
each product or service represents.
284
Yes
Yes
270
280
Retailer of pet supplies
286
288
Huu Phuoc
Did the corporation immigrate to Canada during the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Did the corporation emigrate from Canada during the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Do you want to be considered as a quarterly instalment remitter if you are eligible? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
No
No
285
100.000 %
287
289
%
%
291
292
Yes
Yes
No
No
293
Yes
No
If the corporation was eligible to remit instalments on a quarterly basis for part of the tax year, provide the date the
corporation ceased to be eligible . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
294
If the corporation’s major business activity is construction, did you have any subcontractors during the tax year? . . . . . .
295
Year Month Day
Yes
No
Taxable income
300
277,160 A
Ź
64,500 B
Subtotal (amount A minus amount B) (if negative, enter “0”)
212,660 C
Net income or (loss) for income tax purposes from Schedule 1, financial statements, or GIFI . . . . . . . . . . . . . . . . . . . . . . . . . .
Deduct:
5,000
Charitable donations from Schedule 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 311
313
Cultural gifts from Schedule 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ecological gifts from Schedule 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 314
Gifts of medicine made before March 22, 2017, from Schedule 2 . . . . . . . . . . . . . . . . . . . . . . .
Taxable dividends deductible under section 112 or 113, or subsection 138(6)
from Schedule 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part VI.1 tax deduction* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
315
Non-capital losses of previous tax years from Schedule 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Net capital losses of previous tax years from Schedule 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Restricted farm losses of previous tax years from Schedule 4 . . . . . . . . . . . . . . . . . . . . . . . . .
331
332
333
Farm losses of previous tax years from Schedule 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Limited partnership losses of previous tax years from Schedule 4 . . . . . . . . . . . . . . . . . . . . . .
Taxable capital gains or taxable dividends allocated from a central credit union . . . . . . . . . . .
Prospector’s and grubstaker’s shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Employer deduction for non-qualified securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
334
335
340
320
325
59,500
350
352
Subtotal
64,500
Section 110.5 additions or subparagraph 115(1)(a)(vii) additions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxable income (amount C plus amount D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
355
360
D
212,660
* This amount is equal to 3.5 times the Part VI.1 tax payable at line 724 on page 9.
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Small business deduction
Canadian-controlled private corporations (CCPCs) throughout the tax year
400
Income eligible for the small business deduction from Schedule 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxable income from line 360 on page 3, minus 100/28 of the amount on line 632* on page 8, minus 4 times the amount on
405
line 636** on page 8, and minus any amount that, because of federal law, is exempt from Part I tax . . . . . . . . . . . . . . . . . . .
410
Business limit (see notes 1 and 2 below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notes:
1. For CCPCs that are not associated, enter $500,000 on line 410. However, if the corporation’s tax year is less than 51 weeks,
prorate this amount by the number of days in the tax year divided by 365, and enter the result on line 410.
156,660 A
205,517 B
440,000 C
2. For associated CCPCs, use Schedule 23 to calculate the amount to be entered on line 410.
Business limit reduction
Taxable capital business limit reduction for tax years starting before April 7, 2022
Amount C
440,000 × 415 ***
D
= ………….
E1
11,250
11,250
Taxable capital business limit reduction for tax years starting after April 6, 2022
Amount C
440,000 × 415 ***
D
= ………….
E2
90,000
Passive income business limit reduction
E3
Ź
Amount E1 or amount E2, whichever applies
– 50,000 = . . . .
F
………………………………….
G
The greater of amount E3 and amount G
422
H
Reduced business limit (amount C minus amount H) (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
426
440,000 I
Business limit the CCPC assigns under subsection 125(3.2) (from line 515 below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
J
428
440,000 K
430
29,765
Adjusted aggregate investment income from Schedule 7 **** . . . . . . . . . . . . .
Amount C
440,000 × Amount F
=
417
100,000
Huu Phuoc
Reduced business limit after assignment (amount I minus amount J) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
156,660 × 19% =
Small business deduction – Amount A, B, C, or K, whichever is the least . . . . . . . . . .
Enter amount from line 430 at amount K on page 8.
*
Calculate the amount of foreign non-business income tax credit deductible on line 632 without reference to the refundable tax on the CCPC’s investment
income (line 604) and without reference to the corporate tax reductions under section 123.4.
** Calculate the amount of foreign business income tax credit deductible on line 636 without reference to the corporation tax reductions under section 123.4.
*** Large corporations
• If the corporation is not associated with any corporations in both the current and previous tax years, the amount to be entered on line 415 is: (total
taxable capital employed in Canada for the prior year minus $10,000,000) x 0.225%.
• If the corporation is not associated with any corporations in the current tax year, but was associated in the previous tax year, the amount to be entered
on line 415 is: (total taxable capital employed in Canada for the current year minus $10,000,000) x 0.225%.
• For corporations associated in the current tax year, see Schedule 23 for the special rules that apply.
**** Enter the total adjusted aggregate investment income of the corporation and all associated corporations for each tax year that ended in the preceding
calendar year. Each corporation with such income has to file a Schedule 7. For a corporation’s first tax year that starts after 2018, this amount is
reported at line 744 of the corresponding Schedule 7. Otherwise, this amount is the total of all amounts reported at line 745 of the corresponding
Schedule 7 of the corporation for each tax year that ended in the preceding calendar year.
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Protected B when completed
Small business deduction (continued)
Specified corporate income and assignment under subsection 125(3.2)
L
Business number of
the corporation
receiving the
assigned amount
M
Income paid under
clause 125(1)(a)(i)(B) to the
corporation identified in
column L 3
490
500
N
Business limit assigned to
corporation identified in
column L 4
505
1.
2.
3.
4.
Total 515
Total 510
Notes:
3. This amount is [as defined in subsection 125(7) specified corporate income (a)(i)] the total of all amounts each of which is income (other than
specified farming or fishing income of the corporation for the year) from an active business of the corporation for the year from the provision of
services or property to a private corporation (directly or indirectly, in any manner whatever) if
(A) at any time in the year, the corporation (or one of its shareholders) or a person who does not deal at arm’s length with the corporation (or one of its
shareholders) holds a direct or indirect interest in the private corporation, and
(B) it is not the case that all or substantially all of the corporation’s income for the year from an active business is from the provision of services or
property to
(I) persons (other than the private corporation) with which the corporation deals at arm’s length, or
(II) partnerships with which the corporation deals at arm’s length, other than a partnership in which a person that does not deal at arm’s length
with the corporation holds a direct or indirect interest.
4. The amount of the business limit you assign to a CCPC cannot be greater than the amount determined by the formula A – B, where A is the amount of
income referred to in column M in respect of that CCPC and B is the portion of the amount described in A that is deductible by you in respect of the
amount of income referred to in clauses 125(1)(a)(i)(A) or (B) for the year. The amount on line 515 cannot be greater than the amount on line 426.
Huu Phuoc
General tax reduction for Canadian-controlled private corporations
Canadian-controlled private corporations throughout the tax year
Taxable income from line 360 on page 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Lesser of amounts 9B and 9H from Part 9 of Schedule 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amount 13K from Part 13 of Schedule 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Personal services business income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 432
B
C
D
Amount from line 400, 405, 410, or 428 on page 4, whichever is the least . . . . . . . . . . . . . . . . . . .
156,660 E
61,000 F
Aggregate investment income from line 440 on page 6* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subtotal (add amounts B to F)
217,660 Ź
212,660 A
217,660 G
Amount A minus amount G (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
H
General tax reduction for Canadian-controlled private corporations – Amount H multiplied by 13% . . . . . . . . . . . . . . . . . . . . .
Enter amount I on line 638 on page 8.
I
* Except for a corporation that is, throughout the year, a cooperative corporation (within the meaning assigned by subsection 136(2)) or a credit union.
General tax reduction
Do not complete this area if you are a Canadian-controlled private corporation, an investment corporation, a mortgage investment corporation,
a mutual fund corporation, or any corporation with taxable income that is not subject to the corporation tax rate of 38%.
Taxable income from line 360 on page 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
J
K
L
Lesser of amounts 9B and 9H from Part 9 of Schedule 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amount 13K from Part 13 of Schedule 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Personal services business income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 434
M
Subtotal (add amounts K to M)
Ź
N
Amount J minus amount N (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
O
General tax reduction – Amount O multiplied by 13% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter amount P on line 639 on page 8.
P
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Protected B when completed
Refundable portion of Part I tax
Canadian-controlled private corporations throughout the tax year
61,000
30.67
2/3 % = . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
× 30
Foreign non-business income tax credit from line 632 on page 8 . . . . . . . . . . . . . . . . . . . . .
Foreign investment income
8
%
20,000 × 8.00
= ……..
from Schedule 7 . . . . . . . . . . . . 445
Subtotal (amount B minus amount C) (if negative, enter “0”)
1,600 C
400
Amount A minus amount D (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxable income from line 360 on page 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amount from line 400, 405, 410, or 428 on page 4,
whichever is the least . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
75/29
2,000 × 2.5862
Foreign business income
tax credit from line 636
on page 8 . . . . . . . . . . . .
×
=
5,172 H
4 4= . .
I
Subtotal (add amounts G to I)
400 D
18,307 E
212,660 F
156,660 G
161,832
Ż
Foreign non-business
income tax credit from
line 632 on page 8 . . . .
18,707 A
2,000 B
Ż
Aggregate investment income
from Schedule 7 . . . . . . . . . . . . 440
Subtotal (amount F minus amount J)
161,832 J
2/3% =
50,828 K × 30 30.67
Huu Phuoc
15,587 L
Part I tax payable minus investment tax credit refund (line 700 minus line 780 from page 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33,753 M
Refundable portion of Part I tax – Amount E, L, or M, whichever is the least . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 450
15,587 N
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Protected B when completed
Refundable dividend tax on hand
Eligible refundable dividend tax on hand (ERDTOH) at the end of the previous tax year (line 530 of the preceding tax year)
520
A
Non-eligible refundable dividend tax on hand (NERDTOH) at the end of the previous tax year (line 545 of the preceding tax
year) (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
535
5,200 B
14,000 C
6,708 D
20,708 Ź
20,708 E
Net ERDTOH transferred on an amalgamation or the wind-up of a subsidiary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
525
F
ERDTOH dividend refund for the previous tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
570
G
Refundable portion of Part I tax (from line 450 on page 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15,587 H
Part IV tax payable on taxable dividends from connected corporations (amount 2G from Schedule 3)
Part IV tax payable on eligible dividends from non-connected corporations (amount 2J from Schedule 3)
Subtotal (amount C plus amount D)
Part IV tax before deductions (amount 2A from Schedule 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20,708 I
Part IV tax allocated to ERDTOH (amount E). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20,708 J
Part IV tax reduction due to Part IV.1 tax payable (amount 4D of Schedule 43). . . . . . . . . . . . . . . . . . .
K
Ź
L
540
M
575
N
38 1/3% of the total losses applied against Part IV tax (amount 2D from Schedule 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
O
Subtotal (amount I minus total of amounts J and K)
Net NERDTOH transferred on an amalgamation or the wind-up of a subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
NERDTOH dividend refund for the previous tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part IV tax payable allocated to NERDTOH, net of losses claimed (amount L minus amount O) (if negative enter “0”) . . . . . . . . . .
NERDTOH at the end of the tax year (total of amounts B, H, M, and P minus amount N) (if negative, enter “0”) . . . . . . . . 545
Part IV tax payable allocated to ERDTOH, net of losses claimed (amount E minus the amount, if any, by which amount O
exceeds amount L) (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ERDTOH at the end of the tax year (total of amounts A, F, and Q minus amount G) (if negative, enter “0”) . . . . . . . . . . . . 530
Dividend refund
Huu Phuoc
P
20,787
20,708 Q
20,708
38 1/3% of total eligible dividends paid in the tax year (amount 3A from Schedule 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9,583 AA
ERDTOH balance at the end of the tax year (line 530) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20,708 BB
Eligible dividend refund (amount AA or BB, whichever is less) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9,583 CC
38 1/3% of total non-eligible taxable dividends paid in the tax year (amount 3B from Schedule 3) . . . . . . . . . . . . . . . . . . . . . . . . .
25,683 DD
NERDTOH balance at the end of the tax year (line 545) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20,787 EE
Non-eligible dividend refund (amount DD or EE, whichever is less) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20,787 FF
Amount DD minus amount EE (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4,896 GG
Amount BB minus amount CC (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,125 HH
Additional non-eligible dividend refund (amount GG or HH, whichever is less) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4,896
II
Dividend refund – Amount CC plus amount FF plus amount II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter amount JJ on line 784 on page 9.
35,266
JJ
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Protected B when completed
Part I tax
550
80,811 A
× 5.00 =
560
B
Additional tax on banks and life insurers from Schedule 68 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
565
602
C
D
604
5,973 I
Subtotal (add amounts A, B, C, D, and I)
86,784 J
Base amount Part I tax – Taxable income (from line 360 on page 3) multiplied by 38% . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Additional tax on personal services business income (section 123.5)
Taxable income from a personal services business . . . . . . . . . . . . . . . . . . . . . . . . . . 555
Recapture of investment tax credit from Schedule 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Calculation for the refundable tax on the Canadian-controlled private corporation’s (CCPC) investment income
(if it was a CCPC throughout the tax year)
Aggregate investment income from line 440 on page 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxable income from line 360 on page 3 . . . . . . . . . . . . . . . . . . . . . . . .
Deduct:
Amount from line 400, 405, 410, or 428 on page 4, whichever
is the least . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
212,660 F
Net amount (amount F minus amount G)
56,000 Ź
61,000 E
156,660 G
56,000 H
Refundable tax on CCPC’s investment income – 10.67 of whichever is less: amount E or amount H . . . . . . . . . . . . . . . . . .
Deduct:
Small business deduction from line 430 on page 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Federal tax abatement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 608
Manufacturing and processing profits deduction and zero-emission technology manufacturing
deduction from Schedule 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29,765 K
21,266
Huu Phuoc
Investment corporation deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxed capital gains 624
616
620
Federal foreign non-business income tax credit from Schedule 21 . . . . . . . . . . . . . . . . . . . . . .
Federal foreign business income tax credit from Schedule 21 . . . . . . . . . . . . . . . . . . . . . . . . .
General tax reduction for CCPCs from amount I on page 5 . . . . . . . . . . . . . . . . . . . . . . . . . . .
632
636
638
General tax reduction from amount P on page 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Federal logging tax credit from Schedule 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Eligible Canadian bank deduction under section 125.21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
639
640
641
Federal qualifying environmental trust tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 648
Investment tax credit from Schedule 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 652
Subtotal
2,000
53,031 Ź
Part I tax payable – Amount J minus amount L . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter amount M on line 700 on page 9.
53,031 L
33,753 M
Privacy notice
Personal information (including the SIN) is collected to administer or enforce the Income Tax Act and related programs and activities including administering
tax, benefits, audit, compliance, and collection. The information collected may be used or disclosed for the purposes of other federal acts that provide for the
imposition and collection of a tax or duty. It may also be disclosed to other federal, provincial, territorial, or foreign government institutions to the extent
authorized by law. Failure to provide this information may result in paying interest or penalties, or in other actions. Under the Privacy Act, individuals have a
right of protection, access to and correction of their personal information, or to file a complaint with the Privacy Commissioner of Canada regarding the
handling of their personal information. Refer to Personal Information Bank CRA PPU 047 on Information about Programs and Information Holdings at
canada.ca/cra-information-about-programs.
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Protected B when completed
Summary of tax and credits
Federal tax
Part I tax payable from amount M on page 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part III.1 tax payable from Schedule 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part IV tax payable from Schedule 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part IV.1 tax payable from Schedule 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part VI tax payable from Schedule 38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part VI.1 tax payable from Schedule 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part VI.2 tax payable from Schedule 67 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33,753
700
710
712
20,708
716
720
724
725
727
728
Part XIII.1 tax payable from Schedule 92 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part XIV tax payable from Schedule 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total federal tax
Add provincial or territorial tax:
750 ON
Provincial or territorial jurisdiction . . . . . . . . . . . . . . . . . .
54,461
(if more than one jurisdiction, enter “multiple” and complete Schedule 5)
Net provincial or territorial tax payable (except Quebec and Alberta) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total tax payable
Deduct other credits:
780
Investment tax credit refund from Schedule 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dividend refund from amount JJ on page 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Federal capital gains refund from Schedule 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Federal qualifying environmental trust tax credit refund . . . . . . . . . . . . . . . . . . . . . . . . . . .
Return of fuel charge proceeds to farmers tax credit from Schedule 63 . . . . . . . . . . . . . . .
Canadian film or video production tax credit (Form T1131) . . . . . . . . . . . . . . . . . . . . . . . .
Film or video production services tax credit (Form T1177) . . . . . . . . . . . . . . . . . . . . . . . . .
Canadian journalism labour tax credit from Schedule 58 . . . . . . . . . . . . . . . . . . . . . . . . . .
Air quality improvement tax credit from Schedule 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax withheld at source . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
801
Total payments on which tax has been withheld . . . . .
784
788
792
11,453
65,914 A
760
770
35,266
795
796
797
798
799
800
Huu Phuoc
Provincial and territorial capital gains refund from Schedule 18 . . . . . . . . . . . . . . . . . . . . .
808
Provincial and territorial refundable tax credits from Schedule 5 . . . . . . . . . . . . . . . . . . . .
Tax instalments paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total credits
812
840
890
32,000
67,266 Ź
67,266 B
(1,352)
Balance (amount A minus amount B)
If the result is negative, you have a refund. If the result is positive, you have a balance owing.
Enter the amount below on whichever line applies.
ź
Refund code
894
1
Generally, the CRA does not charge or refund a difference of $2 or less.
1,352
Refund
ź
Balance owing . . . . . . . . . .
ź
ź
For information on how to enrol for direct deposit, go to canada.ca/cra-direct-deposit.
For information on how to make your payment, go to
canada.ca/payments.
If the corporation is a Canadian-controlled private corporation throughout the tax year, does it qualify for the
Yes
No
one-month extension of the date the balance of tax is due? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 896
If this return was prepared by a tax preparer for a fee, provide their:
920
EFILE number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
925
RepID . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Certification
I, 950
951
Ottawa
954
Margaret
Last name
,
The president and director
First name
Position, office, or rank
am an authorized signing officer of the corporation. I certify that I have examined this return, including accompanying schedules and statements, and that
the information given on this return is, to the best of my knowledge, correct and complete. I also certify that the method of calculating income for this tax
year is consistent with that of the previous tax year except as specifically disclosed in a statement attached to this return.
955
956
2023/08/10
Date (yyyy/mm/dd)
(613) 111-1111
Signature of the authorized signing officer of the corporation
Is the contact person the same as the authorized signing officer? If no, complete the information below . . . . . . . . . .
958
Telephone number
Yes
957
No
959
Name of other authorized person
Telephone number
Language of correspondence – Langue de correspondance
Indicate your language of correspondence by entering 1 for English or 2 for French.
Indiquez votre langue de correspondance en inscrivant 1 pour anglais ou 2 pour français.
T2 E (23)
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990
1
Page 9 of 9
File RadionFaux Industries Ltd. CRA Business # NR Year-end: 2022/12/31
Schedule 1
Code 1901
Protected B
when completed
Net Income (Loss) for Income Tax Purposes
• Use this schedule to reconcile the corporation’s net income (loss) as reported on the financial statements and its net income (loss) for
tax purposes. For more information, see the T2 Corporation – Income Tax Guide.
• All legislative references are to the Income Tax Act.
237,000
Net income (loss) after taxes and extraordinary items from line 9999 of Schedule 125
A
Add:
Interest and penalties on taxes
103
3,500
Amortization of tangible assets
104
122,000
Charitable donations and gifts from Schedule 2
112
5,000
Taxable capital gains from Schedule 6
113
13,500
Non-deductible meals and entertainment expenses
121
17,000
Amount D on Page 3
199
2,000
500
163,000
Total (lines 101 to 199)
163,000
400,000
Amount A plus line 500
B
Deduct:
Gain on disposal of assets per financial statements
401
27,000
Capital cost allowance from Schedule 8
403
75,840
Amount E on Page 4
499
20,000
510
122,840
Huu Phuoc
Total (lines 401 to 499)
122,840
277,160
Net income (loss) for income tax purposes (amount B minus line 510)
Enter amount C on line 300 on page 3 of the T2 return.
C
Add:
Other additions:
Description
605
Amount
295
Foreign non-business income tax withheld
2,000
If you need more space, attach additional schedules.
Total of column 2
2,000 296
2,000
2,000
Total of lines 201 to 249 and line 296
Enter amount D on line 199 on page 1.
D
Deduct:
Other deductions:
Description
705
Amount
Landscaping
If you need more space, attach additional schedules.
395
20,000
Total of column 2
Total of lines 300 to 349 and line 396
Enter amount E at line 499 on page 2.
Version 2022.5.5 GP89 – RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
20,000 396
20,000
20,000
E
File RadionFaux Industries Ltd. CRA Business # NR Year-end: 2022/12/31
Schedule 2
Code 2001
Protected B
Charitable Donations and Gifts
(2020 and later tax years)
Corporation’s name
when completed
Business number
RadionFaux Industries Ltd.
NR
2
Tax year-end
Year
Month
Day
0
3
2
2
1
2
1
• For use by corporations to claim any of the following:
– the eligible amount of charitable donations to qualified donees
– the Ontario, Nova Scotia, and British Columbia food donation tax credits for farmers
– the eligible amount of gifts of certified cultural property
– the eligible amount of gifts of certified ecologically sensitive land or
– the additional deduction for gifts of medicine made before March 22, 2017
• All legislative references are to the federal Income Tax Act, unless stated otherwise.
• The eligible amount of a gift is the amount by which the fair market value of the gifted property exceeds the amount of an advantage, if any, for the gift.
• The donations and gifts can be carried forward for 5 years except for gifts of certified ecologically sensitive land made after February 10, 2014,
which can be carried forward for 10 years.
• Use this schedule to show a transfer of unused amounts from previous years following an amalgamation or the wind-up of a subsidiary as
described under subsections 87(1) and 88(1).
• Subsection 110.1(1.2) provides as follows:
– Where a particular corporation has undergone an acquisition of control, for tax years that end on or after the acquisition of control, no corporation can
claim a deduction for a gift made by the particular corporation to a qualified donee before the acquisition of control.
– If a particular corporation makes a gift to a qualified donee pursuant to an arrangement under which both the gift and the acquisition of control is
expected, no corporation can claim a deduction for the gift unless the person acquiring control of the particular corporation is the qualified donee.
Huu Phuoc
• An eligible medical gift made before March 22, 2017, to a qualifying organization for activities outside of Canada may be eligible for an additional
deduction. Calculate the additional deduction in Part 5.
• File this schedule with your T2 Corporation Income Tax Return.
• For more information, see the T2 Corporation – Income Tax Guide.
Part 1 – Charitable donations
1A
Charitable donations at the end of the previous tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Charitable donations expired after five tax years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 239
Charitable donations at the beginning of the current tax year (amount 1A minus line 239) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240
Charitable donations transferred on an amalgamation or the wind-up of a subsidiary . . . . . . . . . . . . . . 250
Total charitable donations made in the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210
(include this amount on line 112 of Schedule 1, Net Income (Loss) for Income Tax Purposes)
5,000
5,000 Ź
5,000 1B
Subtotal (line 240 plus amount 1B)
5,000 1C
Subtotal (line 250 plus line 210)
Adjustment for an acquisition of control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 255
Total charitable donations available (amount 1C minus line 255) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5,000 1D
Amount applied in the current year against taxable income (cannot be more than amount 2H in Part 2) . . . . . . . . . . . . . . . . . . . . . 260
(enter this amount on line 311 of the T2 return)
5,000
Charitable donations closing balance (amount 1D minus line 260) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280
T2 SCH 2 E (20)
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Protected B when completed
Part 1 – Charitable donations (continued)
The amount of qualifying donations for the Ontario community food program donation tax credit for
farmers included in the amount on line 260 (for donations made after December 31, 2013) . . . . . . . . . 262
Ontario community food program donation tax credit for farmers
(amount on line 262 multiplied by 25%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
Enter amount 1 on line 420 of Schedule 5, Tax Calculation Supplementary – Corporations. The maximum you can claim in the
current year is whichever is less: the Ontario income tax otherwise payable or amount 1. For more information,
see section 103.1.2 of the Taxation Act, 2007 (Ontario).
The amount of qualifying donations for the Nova Scotia food bank tax credit for farmers
included in the amount on line 260 (for donations made after December 31, 2015) . . . . . . . . . . . . . . . . 263
2
Nova Scotia food bank tax credit for farmers (amount on line 263 multiplied by 25%) . . . . . . . . . . . . . . . . .
Enter amount 2 on line 570 of Schedule 5, Tax Calculation Supplementary – Corporations. The maximum you can claim in the
current year is whichever is less: the Nova Scotia income tax otherwise payable or amount 2. For more information,
see section 50A of the Nova Scotia Income Tax Act.
The amount of qualifying gifts for the British Columbia farmers’ food donation tax credit included in the
amount on line 260 (for donations made after February 16, 2016, and before January 1, 2024) . . . . . . 265
3
British Columbia farmers’ food donation tax credit (amount on line 265 multiplied by 25%) . . . . . . . . . . . . .
Enter amount 3 on line 683 of Schedule 5, Tax Calculation Supplementary – Corporations. The maximum you can claim
in the current year is whichever is less: the British Columbia income tax otherwise payable or amount 3. For more information,
see section 20.1 of the British Columbia Income Tax Act.
Huu Phuoc
Part 2 – Maximum allowable deduction for charitable donations
Net income for tax purposes Note 1 multiplied by 75% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
207,870 2A
Taxable capital gains arising in respect of gifts of capital property included in Part 1 Note 2 . . . . . . . . . . 225
Taxable capital gain in respect of a disposition of a non-qualifying security
under subsection 40(1.01) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 227
The amount of the recapture of capital cost allowance in respect of
charitable donations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 230
Proceeds of disposition,
less outlays and expenses Note 2 . . . . . . . . .
2B
Capital cost Note 2 . . . . . . . . . . . . . . . . . . . . .
2C
Amount 2B or 2C, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235
Amount on line 230 or 235, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2D
Subtotal (add lines 225, 227, and amount 2D)
2E
Amount 2E multiplied by 25%
2F
Subtotal (amount 2A plus amount 2F)
207,870 2G
Maximum allowable deduction for charitable donations
(enter amount 1D from Part 1, amount 2G, or net income for tax purposes, whichever is the least) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5,000 2H
Note 1: For credit unions, subsection 137(2) states that this amount is before the deduction of payments pursuant to allocations in proportion to
borrowing and bonus interest.
Note 2: This amount must be prorated by the following calculation, eligible amount of the gift divided by the proceeds of disposition of the gift.
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Protected B when completed
Part 3 – Gifts of certified cultural property
Gifts of certified cultural property at the end of the previous tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3A
Gifts of certified cultural property expired after five tax years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 439
Gifts of certified cultural property at the beginning of the current tax year (amount 3A minus line 439) . . . . . . . . . . . . . . . . . . . . . 440
Gifts of certified cultural property transferred on an amalgamation or the wind-up of a subsidiary . . . . . 450
Total gifts of certified cultural property in the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 410
(include this amount on line 112 of Schedule 1)
Ź
3B
Subtotal (line 440 plus amount 3B)
3C
Subtotal (line 450 plus line 410)
Adjustment for an acquisition of control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 455
Amount applied in the current year against taxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 460
(enter this amount on line 313 of the T2 return)
Subtotal (line 455 plus line 460)
Ź
3D
Gifts of certified cultural property closing balance (amount 3C minus amount 3D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480
Part 4 – Gifts of certified ecologically sensitive land
Huu Phuoc
Gifts of certified ecologically sensitive land at the end of the previous tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4A
Gifts of certified ecologically sensitive land expired after 5 tax years, or after 10 tax years for gifts made
after February 10, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 539
Gifts of certified ecologically sensitive land at the beginning of the current tax year (amount 4A minus line 539) . . . . . . . . . . . . . . 540
Gifts of certified ecologically sensitive land transferred on an amalgamation or the
wind-up of a subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550
Total current-year gifts of certified ecologically sensitive land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520
(include this amount on line 112 of Schedule 1)
Ź
4B
Subtotal (line 540 plus amount 4B)
4C
Subtotal (line 550 plus line 520)
Adjustment for an acquisition of control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 555
Amount applied in the current year against taxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 560
(enter this amount on line 314 of the T2 return)
Subtotal (line 555 plus line 560)
Ź
4D
Gifts of certified ecologically sensitive land closing balance (amount 4C minus amount 4D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 580
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Protected B when completed
Part 5 – Additional deduction for gifts of medicine
Additional deduction for gifts of medicine at the end of the previous tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5A
Additional deduction for gifts of medicine expired after five tax years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 639
Additional deduction for gifts of medicine at the beginning of the current tax year (amount 5A minus line 639) . . . . . . . . . . . . . . . 640
Additional deduction for gifts of medicine made before March 22, 2017 transferred on an
amalgamation or the wind-up of a subsidiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 650
Additional deduction for gifts of medicine made before March 22, 2017:
Proceeds of disposition . . . . . . . . . . . . . 602
Cost of gifts of medicine made
before March 22, 2017 . . . . . . . . . . . . . 601
Subtotal (line 602 minus line 601)
5B
Amount 5B multiplied by 50% . . . . . . . . . . .
5C
Eligible amount of gifts . . . . . . . . . . . . . 600
a
×
( bc
)
=
Additional deduction for
gifts of medicine made
before March 22, 2017
610
where:
a is the lesser of line 601 and amount 5C
b is the eligible amount of gifts (line 600)
c is the proceeds of disposition (line 602)
Subtotal (line 650 plus line 610)
Ź
Huu Phuoc
Subtotal (line 640 plus amount 5D)
5D
5E
Adjustment for an acquisition of control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 655
Amount applied in the current year against taxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 660
(enter this amount on line 315 of the T2 return)
Subtotal (line 655 plus line 660)
Ź
5F
Additional deduction for gifts of medicine closing balance (amount 5E minus amount 5F) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 680
Part 6 – Amount available for carryforward by year of origin
You can complete this part to show all the donations and gifts from previous years available for carryforward by year of origin.
This will help you determine the amount that could expire in following years.
Year of origin
YYYY-MM-DD
Charitable donations
available for
carryforward
Gifts of certified
cultural property
available for
carryforward
Gifts of certified
ecologically sensitive
land available for
carryforward, made
before February 11, 2014
Gifts of certified
ecologically sensitive
land available for
carryforward, made after
February 10, 2014
Additional deduction
for gifts of medicine
available for
carryforward
Total
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Schedule 3
Code 1904
Dividends Received, Taxable Dividends Paid, and
Part IV Tax Calculation (2019 and later tax years)
Corporation’s name
Protected B
when completed
Business number
RadionFaux Industries Ltd.
NR
Year
Tax year-end
Month
Day
0
2
3
2
2
1
2
1
• Corporations must use this schedule to report:
– non-taxable dividends under section 83
– deductible dividends under subsection 138(6)
– taxable dividends deductible from income under section 112, subsection 113(2) and paragraphs 113(1)(a), (a.1), (b) or (d)
– taxable dividends paid in the tax year that qualify for a dividend refund (see page 3)
• All legislative references are to the federal Income Tax Act.
• The calculations in this schedule apply only to private or subject corporations (as defined in subsection 186(3)).
• A payer corporation is connected with a recipient corporation at any time in a tax year, if at that time the recipient corporation meets
either of the following conditions:
– it controls the payer corporation, other than because of a right referred to in paragraph 251(5)(b)
– it owns more than 10% of the issued share capital (with full voting rights), and shares that have a fair market value of more than
10% of the fair market value of all shares of the payer corporation
• If you need more space, continue on a separate schedule.
• File this schedule with your T2 Corporation Income Tax Return.
Part 1 – Dividends received in the tax year
• Do not include dividends received from foreign non-affiliates.
• Complete columns B, C, D, H and I only if the payer corporation is connected.
Important instructions to follow if the payer corporation is connected
• If your corporation’s tax year-end is different than that of the connected payer corporation, dividends could have been received from more than one
tax year of the payer corporation. If so, use a separate line to provide the information according to each tax year of the payer corporation.
• When completing columns J and K use the special calculations provided in the notes.
A
Name of payer corporation
(from which the corporation received the dividend)
B
Enter 1 if payer
corporation is
connected
C
Business number of
connected corporation
200
205
210
Huu Phuoc
Royal Bank
OttawaFaux Inc.
2 No
1 Yes
NR
D
Tax year-end of the payer corporation in which
the sections 112/113 and subsection 138(6)
dividends in column F were paid YYYYMMDD
E
Non-taxable
dividends under
section 83
F
Taxable dividends deductible from taxable income
under section 112, subsections 113(2) and 138(6),
and paragraphs 113(1)(a), (a.1), (b), or (d) 1
G
Eligible dividends included
in column F
220
230
240
242
17,500
42,000
2022/12/31
17,500
Total of column E
(enter amount on line 402 of Schedule 1)
Taxable dividends received from connected corporations (total amounts from column F with code 1 in column B) . . . . . . . . . . . . . . .
42,000 1A
Taxable dividends received from non-connected corporations (total amounts from column F with no code in column B) . . . . . . . . . .
17,500 1B
Subtotal (amount 1A plus amount 1B, include this amount on line 320 of the T2 return)
59,500 1C
Eligible dividends received from connected corporations (total amounts from column G with code 1 in column B) . . . . . . . . . . . . . . .
1D
Eligible dividends received from non-connected corporations (total amounts from column G with no code in column B) . . . . . . . . . . .
17,500 1E
1 If taxable dividends are received, enter the amount in column F, but if the corporation is not subject to Part IV tax (such as a public corporation other than
a subject corporation as defined in subsection 186(3)), enter “0” in column K (and column J, if applicable). Life insurers are not subject to Part IV tax on
subsection 138(6) dividends.
T2 SCH 3 E (22)
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Protected B when completed
Part 1 – Dividends received in the tax year (continued)
H
Total taxable dividends paid by
connected payer corporation (for
tax year in column D)
I
Dividend refund of the connected
payer corporation (for tax year in
column D) 2
J
Part IV tax for eligible dividends.
Dividends (from column G)
multiplied by 38 1/3% 3
K
Part IV tax before deductions.
Dividends (from column F)
multiplied by 38 1/3% 4
L
Part IV tax before deductions on
taxable dividends received from
connected corporations 5
250
260
265
275
280
0
42,000
0
14,000
6,708
6,708
14,000
Total of column L
(enter amount on line 2E in Part 2)
Part IV tax before deductions on taxable dividends received from connected corporations
(total amounts from column K with code 1 in column B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14,000 1F
Part IV tax before deductions on taxable dividends received from non-connected corporations
(total amounts from column K with no code in column B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,708 1G
Subtotal (amount 1F plus amount 1G)
20,708 Ź
Part IV tax on eligible dividends received from connected corporations (total amounts from column J
with code 1 in column B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1I
Part IV tax on eligible dividends received from non-connected corporations (total amounts from
column J with no code in column B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,708 1J
Subtotal (amount 1I plus amount 1J)
6,708 Ź
20,708 1H
6,708 1K
Part IV tax before deductions on taxable dividends (other than eligible dividends) (amount 1H minus amount 1K) . . . . . . . . . . . . . .
Huu Phuoc
14,000 1L
2 If the connected payer corporation’s tax year ends after the corporation’s balance-due day for the tax year (two or three months, as applicable), you have to
estimate the payer’s dividend refund when you calculate the corporation’s Part IV tax payable.
3 For eligible dividends received from connected corporations, Part IV tax on dividends is equal to column I divided by column H multiplied by column G.
4 For taxable dividends received from connected corporations, Part IV tax on dividends is equal to column I divided by column H multiplied by column F.
5 For the purpose of calculating your eligible refundable dividend tax on hand (ERDTOH), Part IV tax on taxable dividends received from connected
corporations (with a tax year starting after 2018) is equal to the sum of Part IV tax on eligible dividends and non-eligible dividends received from
connected corporations to the extent that such dividends caused a dividend refund to those corporations from their ERDTOH.
Part IV tax before deductions on taxable dividends received from connected corporations for purposes of column L is the sum of (i) and (ii), where
(i) Part IV tax on eligible dividends received from connected corporations is equal to amount CC of the connected payer corporation (on page 7
of the T2 return) divided by line 465 of the connected payer corporation, multiplied by column G; and
(ii) Part IV tax on non-eligible dividends received from connected corporations is equal to amount II of the connected payer corporation
(on page 7 of the T2 return) divided by line 470 of the connected payer corporation, multiplied by the difference between columns F and G.
Part 2 – Calculation of Part IV tax payable
Part IV tax on dividends received before deductions (amount 1H in part 1) . . . . . . . . . . . . . . . . . . . . .
Part IV.I tax payable on dividends subject to Part IV tax (from line 360 of Schedule 43) . . . . . .
20,708 2A
320
Subtotal (amount 2A minus line 320)
Current-year non-capital loss claimed to reduce Part IV tax . . . . . . . . . . . . . . . . . . . . . . . . . . . .
330
Non-capital losses from previous years claimed to reduce Part IV tax . . . . . . . . . . . . . . . . . . . .
335
Current-year farm loss claimed to reduce Part IV tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
340
Farm losses from previous years claimed to reduce Part IV tax . . . . . . . . . . . . . . . . . . . . . . . . .
345
Total losses applied against Part IV tax (total of lines 330 to 345)
20,708 Ź
20,708 2B
2C
2D
Amount 2C multiplied by 38 1/3% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part IV tax payable (amount 2B minus amount 2D, if negative enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
360
20,708
(enter amount on line 712 of the T2 return)
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Protected B when completed
Part 2 – Calculation of Part IV tax payable (continued)
If your tax year begins after 2018, complete the following part to determine the required amount of Part IV taxes payable in order to calculate the
eligible refundable dividend tax on hand (ERDTOH) at the end of the tax year.
Part IV tax before deductions on taxable dividends received from connected corporations (total of column L in part 1) . . . . . . . . . . . .
14,000 2E
Amount 4A from Schedule 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2F
Part IV tax payable on taxable dividends received from connected corporations
(amount 2E minus amount 2F, if negative enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14,000 2G
(enter at amount C on page 7 of the T2 return)
Part IV tax on eligible dividends received from non-connected corporations (amount 1J in part 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,708 2H
Amount 4C from Schedule 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2I
Part IV tax payable on taxable dividends received from non-connected corporations
(amount 2H minus amount 2I, if negative enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,708 2J
(enter at amount D on page 7 of the T2 return)
Part 3 – Taxable dividends paid in the tax year that qualify for a dividend refund
If your corporation’s tax year-end is different than that of the recipient corporation with which you are connected, your corporation could have paid
dividends in more than one tax year of the recipient corporation. If so, use a separate line to provide the information according to each tax year of the
recipient corporation.
M
N
O
P
Q
Name of recipient corporation with which you are
Business number
Tax year-end of recipient
Taxable dividends Eligible dividends
connected
corporation in which the
paid to recipient
included in
dividends in column P were
corporations with
column P
received YYYYMMDD
which you are
connected
Huu Phuoc
400
410
420
430
440
(Total of column P) (Total of column Q)
450
92,000
Total taxable dividends paid in the tax year that qualify for a dividend refund (total of column P plus line 450) . . . . . . . . . . . . .
460
92,000
Total eligible dividends paid in the tax year (total of column Q plus line 455) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
465
25,000
Total non-eligible taxable dividends paid in the tax year (line 460 minus line 465) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
470
67,000
Total taxable dividends paid in the tax year to other than connected corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Eligible dividends included in line 450 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
455
25,000
Complete this part to determine the following amounts in order to calculate the dividend refund.
Line 465 multiplied by 38 1/3% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9,583 3A
(enter at amount AA on page 7 of the T2 return)
Line 470 multiplied by 38 1/3% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25,683 3B
(enter at amount DD on page 7 of the T2 return)
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Protected B when completed
Part 4 – Total dividends paid in the tax year
Complete this part if the total taxable dividends paid in the tax year that qualify for a dividend refund (line 460) is different from the total dividends paid
in the tax year.
Total dividends paid in the tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dividends paid out of capital dividend account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
510
Capital gains dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
520
Dividends paid on shares described in subsection 129(1.2) . . . . . . . . . . . . . . . . . . . . . . . . .
530
Taxable dividends paid to a controlling corporation that was bankrupt at
any time in the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
540
500
Ź
4A
Total taxable dividends paid in the tax year that qualify for a dividend refund (Line 500 minus amount 4A) . . . . . . . . . . . . . . .
0 4B
Subtotal (total of lines 510 to 540)
Huu Phuoc
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Schedule 5
Code 2301
Protected B
when completed
Tax Calculation Supplementary – Corporations
(2023 and later tax years)
• Use this schedule if any of the following apply to your corporation during the tax year:
– it had a permanent establishment in more than one jurisdiction
(corporations that have no taxable income should only complete columns A, B, and D in Part 1)
– it is claiming provincial or territorial tax credits or rebates (see Part 2)
– it has to pay taxes, other than income tax, for Newfoundland and Labrador or Ontario (see Part 2)
• All legislative references are to the federal Income Tax Regulations (the Regulations).
• For more information, see the T2 Corporation – Income Tax Guide.
• For the regulation number to be entered in field 100 of Part 1 on page 2, see the chart below.
Regulation
Type of corporation
Type of entry in column B
Type of entry in column D
402
Corporations not specified below
Salaries and wages
Gross revenue
403
Insurance corporations
No entry required
Net premiums
404
Banks
Salaries and wages
Amount of loans and deposits
404.1
Federal credit unions
Salaries and wages
Amount of loans and deposits
405
Trust and loan corporations
No entry required
Gross revenue
406(1) (Note 1)
Railway corporations
Equated track miles/kilometres
Gross ton miles/kilometres
406(2) (Note 1)
Railway corporations (Note 2)
407
Airline corporations
Capital cost of fixed assets (Note 3)
Revenue plane miles/kilometres (Note 4)
408
Grain elevator operators
Salaries and wages
Bushels of grain received
409
Bus and truck operators
Salaries and wages
Miles/kilometres driven
410 (Note 5)
Ship operators
Salaries and wages (Note 6)
Port-call-tonnage
411
Pipeline operators
Salaries and wages
Miles/kilometres of pipeline
412
Divided businesses
The method of allocation depends on the business line – refer to the Regulations.
413
Non-resident corporations
The method of allocation depends on the business line – refer to the Regulations.
Huu Phuoc
The method of allocation depends on the business line – refer to the Regulations.
Note 1: Include the subsection (with brackets) when entering this regulation on line 100 in Part 1 of this Schedule.
Note 2: Operating an airline service, ships, hotels, or receiving substantial revenues from petroleum or natural gas royalties.
Note 3: Exclude aircraft.
Note 4: Exclude miles/kilometres flown over the territorial waters of Canada.
Note 5: In Part 1, instead of taxable income, use the excess of taxable income over allocable income for the calculation in
column C and allocable income for the calculation in column E.
Note 6: Only where taxable income exceeds allocable income.
T2 SCH 5 E (23)
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Schedule 5
Tax Calculation Supplementary – Corporations
(2023 and later tax years)
Corporation’s name
Business number
RadionFaux Industries Ltd.
NR
Code 2301
Protected B
when completed
Tax year-end
Year
Month Day
2 0 2 2 1 2 3 1
Part 1 – Allocation of taxable income
100
Enter the regulation that applies (402 to 413) from page 1.
A
Jurisdiction
(tick yes if your corporation had
a permanent establishment in
the jurisdiction during the tax
year) Note 1
B
Total salaries and
wages paid in
jurisdiction
C
(B × taxable income)
÷G
D
Gross revenue
attributable to
jurisdiction
003 Yes
103
143
Newfoundland
and Labrador
Offshore
004 Yes
104
144
Prince Edward
005 Yes
Island
105
145
Nova Scotia
007 Yes
107
147
Nova Scotia
Offshore
008 Yes
108
148
New Brunswick 009 Yes
109
149
011 Yes
Ontario
013 Yes
Manitoba
015 Yes
Saskatchewan 017 Yes
F
Allocation of taxable
income
(C + E) × 1/2 Note 2
either G or H is nil,
( where
)
do not multiply by 1/2
Newfoundland
and Labrador
Quebec
E
(D × taxable income)
÷H
Huu Phuoc
111
151
113
153
115
155
117
157
Alberta
019 Yes
119
159
British
Columbia
021 Yes
121
161
Yukon
023 Yes
123
163
Northwest
Territories
025 Yes
125
165
Nunavut
026 Yes
126
166
Outside
Canada
027 Yes
127
167
G
Total
129
212,660
H
169
212,660
Note 1: Permanent establishment is defined in subsection 400(2).
Note 2: For corporations other than those described under section 402, use the appropriate calculation described in the Regulations to allocate
taxable income.
Notes:
1. After determining the allocation of taxable income, you have to calculate the corporation’s provincial or territorial tax payable. For more information on
how to calculate the tax for each province or territory, see the instructions for Schedule 5 in the T2 Corporation – Income Tax Guide.
2. If your corporation has provincial or territorial tax payable, complete Part 2 on the following pages.
3. If your corporation is a member of a partnership and the partnership had a permanent establishment in a jurisdiction, select the jurisdiction in Column A
and include your proportionate share of the partnership’s salaries and wages and gross revenue in columns B and D, respectively.
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Part 2 – Provincial and territorial tax payable, tax credits, and rebates
Newfoundland and Labrador
Newfoundland and Labrador tax before credits (from Schedule 307) . . . . . . . . . . . . . . . . . . . . . . 200
Newfoundland and Labrador offshore tax (from Schedule 307) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205
Ź
1A
Ź
1B
Subtotal (amount 1A minus amount 1B) (if negative, enter “0”)
1C
Gross Newfoundland and Labrador tax (line 200 plus line 205)
Newfoundland and Labrador political contribution tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500
Contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 891
Newfoundland and Labrador foreign tax credit (from Schedule 21) . . . . . . . . . . . . . . . . . . . . . . . . . . 501
Newfoundland and Labrador venture capital tax credit (from Schedule 308) . . . . . . . . . . . . . . . . . . . 504
Newfoundland and Labrador direct equity tax credit (from Schedule 303) Note 3 . . . . . . . . . . . . . . . . . 505
Newfoundland and Labrador resort property investment tax credit (from Schedule 304) Note 3 . . . . . . 507
Newfoundland and Labrador non-refundable green technology tax credit (from Schedule 311) . . . . . 506
Newfoundland and Labrador non-refundable manufacturing and processing investment
tax credit (from Schedule 310) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 508
Newfoundland and Labrador non-refundable tax credits (total of lines 500, 501, 504, 505, 507, 506, and 508)
Newfoundland and Labrador capital tax on financial institutions (from Schedule 305) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 518
Total Newfoundland and Labrador tax payable before refundable tax credits (amount 1C plus line 518) . . . . . . . . . . . . . . . . . . . . . . .
1D
Newfoundland and Labrador refundable manufacturing and processing investment
tax credit (from Schedule 310) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 523
Huu Phuoc
Newfoundland and Labrador refundable green technology tax credit (from Schedule 311) . . . . . . . . 526
Newfoundland and Labrador research and development tax credit (from Schedule 301) . . . . . . . . . 520
Newfoundland and Labrador film and video industry tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 521
Certificate number Note 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 821
Newfoundland and Labrador interactive digital media tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . 522
Certificate number
Note 3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 840
Newfoundland and Labrador refundable tax credits (total of lines 523, 526, 520, 521, and 522)
Ź
1E
Net Newfoundland and Labrador tax payable or refundable tax credit (amount 1D minus amount 1E) . . . . . . . . . . . . . . . . . 209
(if a credit, enter amount in brackets). Include this amount on line 255 on page 8.
Note 3: To claim the credit, file the certificate with your T2 Corporation Income Tax Return.
Prince Edward Island
Prince Edward Island tax before credits (from Schedule 322) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210
Prince Edward Island foreign tax credit (from Schedule 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 528
Prince Edward Island corporate investment tax credit (from Schedule 321) . . . . . . . . . . . . . . . . . . . . 530
Prince Edward Island non-refundable tax credits (line 528 plus line 530)
Ź
2A
Net Prince Edward Island tax payable (line 210 minus amount 2A) (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214
Include this amount on line 255 on page 8.
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Protected B when completed
Part 2 – Provincial and territorial tax payable, tax credits, and rebates (continued)
Nova Scotia
Nova Scotia tax before credits (from Schedule 346) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215
Nova Scotia offshore tax (from Schedule 346) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 220
Recapture of Nova Scotia research and development tax credit (from Schedule 340) . . . . . . . . . . . . 221
Ź
3A
Ź
3B
Subtotal (amount 3A minus amount 3B) (if negative, enter “0”)
3C
Gross Nova Scotia tax (total of lines 215 to 221)
Nova Scotia political contribution tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550
Contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 893
Nova Scotia foreign tax credit (from Schedule 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 554
Nova Scotia innovation equity tax credit (from Schedule 349) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 562
Nova Scotia venture capital tax credit (from Schedule 350) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 563
Nova Scotia food bank tax credit for farmers (from Schedule 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 570
Nova Scotia corporate tax reduction for new small businesses Note 4 (from Schedule 341) . . . . . . . . 556
Certificate number Note 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 834
Nova Scotia non-refundable tax credits (total of lines 550, 554, 562, 563, 570, and 556)
Nova Scotia financial institutions capital tax (from Schedule 352) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 222
3D
Total Nova Scotia tax payable before refundable tax credits (amount 3C plus line 222) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nova Scotia research and development tax credit (from Schedule 340) . . . . . . . . . . . . . . . . . . . . . . 566
Nova Scotia digital media tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 567
Huu Phuoc
Certificate number Note 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 838
Nova Scotia capital investment tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 568
Certificate number Note 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 841
Nova Scotia digital animation tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 569
Certificate number Note 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 839
Nova Scotia refundable tax credits (total of lines 566 to 569)
Ź
3E
Net Nova Scotia tax payable or refundable tax credit (amount 3D minus 3E) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224
(if a credit, enter amount in brackets). Include this amount on line 255 on page 8.
Note 4: The amount of Nova Scotia corporate tax reduction for new small businesses cannot be more than the gross Nova Scotia tax minus all other
Nova Scotia tax credits (including the refundable credits).
Note 5: To claim the credit, file the certificate with your T2 return.
New Brunswick
New Brunswick tax before credits (from Schedule 366) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225
Recapture of New Brunswick research and development tax credit (from Schedule 360) . . . . . . . . . 573
Ź
4A
Ź
4B
Total New Brunswick tax payable before refundable tax credits (amount 4A minus amount 4B) (if negative, enter “0”) . . . . . . . . . . . .
4C
Gross New Brunswick tax (line 225 plus line 573)
New Brunswick foreign tax credit (from Schedule 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 576
New Brunswick small business investor tax credit (from Schedule 367) . . . . . . . . . . . . . . . . . . . . . . 578
New Brunswick non-refundable tax credits (line 576 plus line 578)
New Brunswick research and development tax credit (from Schedule 360) . . . . . . . . . . . . . . . . . . . . 597
New Brunswick refundable tax credits (line 597)
Ź
4D
Net New Brunswick tax payable or refundable tax credit (amount 4C minus amount 4D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 229
(if a credit, enter amount in brackets). Include this amount on line 255 on page 8.
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Protected B when completed
Part 2 – Provincial and territorial tax payable, tax credits, and rebates (continued)
Ontario
Ontario basic income tax (from Schedule 500) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270
24,456
Ontario small business deduction (from Schedule 500) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 402
13,003
11,453 Ź
11,453 5A
Ź
5B
Gross Ontario tax (amount 5A plus amount 5B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,453 5C
Subtotal (line 270 minus line 402)
Ontario transitional tax debits (from Schedule 506) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 276
Recapture of Ontario research and development tax credit (from Schedule 508) . . . . . . . . . . . . . . . 277
Subtotal (line 276 plus line 277)
Ontario tax credit for manufacturing and processing (from Schedule 502) . . . . . . . . . . . . . . . . . . . . . 406
Ontario foreign tax credit (from Schedule 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 408
Ontario credit union tax reduction (from Schedule 500) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 410
Ontario political contributions tax credit (from Schedule 525) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 415
Ź
5D
Subtotal (amount 5C minus amount 5D) (if negative, enter “0”)
11,453 5E
Ontario non-refundable tax credits (total of lines 406 to 415)
Ontario research and development tax credit (from Schedule 508) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 416
Ontario corporate income tax payable before Ontario corporate minimum tax credit and Ontario community food program
donation tax credit for farmers (amount 5E minus line 416) (if negative, enter “0”) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Huu Phuoc
11,453 5F
Ontario corporate minimum tax credit (from Schedule 510) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 418
Ontario community food program donation tax credit for farmers (from Schedule 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 420
Ontario corporate income tax payable (amount 5F minus the total of lines 418 and 420) (if negative, enter “0”) . . . . . . . . . . . . . . . . .
11,453 5G
Ontario corporate minimum tax (from Schedule 510) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 278
Ontario special additional tax on life insurance corporations (from Schedule 512) . . . . . . . . . . . . . . . 280
Ź
5H
Total Ontario tax payable before refundable tax credits (amount 5G plus amount 5H) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,453 5I
Subtotal (line 278 plus line 280)
Ontario qualifying environmental trust tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 450
Ontario co-operative education tax credit (from Schedule 550) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 452
Ontario computer animation and special effects tax credit (from Schedule 554) . . . . . . . . . . . . . . . . 456
Ontario film and television tax credit (from Schedule 556) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 458
Ontario production services tax credit (from Schedule 558) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 460
Ontario interactive digital media tax credit (from Schedule 560) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 462
Ontario book publishing tax credit (from Schedule 564) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 466
Ontario innovation tax credit (from Schedule 566) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 468
Ontario business-research institute tax credit (from Schedule 568) . . . . . . . . . . . . . . . . . . . . . . . . . . 470
Ontario regional opportunities investment tax credit (from Schedule 570) . . . . . . . . . . . . . . . . . . . . . 472
Ontario refundable tax credits (total of lines 450 to 472)
Ź
Net Ontario tax payable or refundable tax credit (amount 5I minus amount 5J) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 290
(if a credit, enter amount in brackets). Include this amount on line 255 on page 8.
T2 SCH 5 E (23)
Version 2022.5.5 GP89 – RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
5J
11,453
Page 5 of 8
File RadionFaux Industries Ltd. CRA Business # NR Year-end: 2022/12/31
Protected B when completed
Part 2 – Provincial and territorial tax payable, tax credits, and rebates (continued)
Manitoba
Manitoba tax before credits (from Schedule 383) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 230
Manitoba foreign tax credit (from Schedule 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 601
Manitoba rental housing construction tax credit (from Schedule 394) . . . . . . . . . . . . . . . . . . . . . . . . 602
Manitoba non-refundable manufacturing investment tax credit (from Schedule 381) . . . . . . . . . . . . . 605
Manitoba non-refundable research and development tax credit (from Schedule 380) . . . . . . . . . . . . 606
Manitoba non-refundable odour-control tax credit (from Schedule 385) . . . . . . . . . . . . . . . . . . . . . . . 607
Manitoba small business venture capital tax credit (from Schedule 387) . . . . . . . . . . . . . . . . . . . . . . 608
Manitoba non-refundable cooperative development tax credit (from Schedule 390) . . . . . . . . . . . . . 609
Ź
6A
Total Manitoba tax payable before refundable tax credits (line 230 minus amount 6A) (if negative, enter “0”) . . . . . . . . . . . . . . . . . . .
6B
Manitoba non-refundable tax credits (total of lines 601 to 609)
Manitoba cultural industries printing tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611
Manitoba refundable research and development tax credit (from Schedule 380) . . . . . . . . . . . . . . . . 613
Manitoba interactive digital …

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