T1
462 Carryforwards
Why is DT Max carrying forward an amount under the GRADUATED-CF keyword with respect to the Nova Scotia graduate retention rebate?This amount represents the portion of the graduate retention rebate of tax year 2009 that could not be used to reduce Nova Scotia tax to $0. Unfortunately, the Nova Scotia department of finance has recently confirmed that "any amounts not used in a tax year to reduce provincial income tax to $0 cannot be carried forward". In light of this information, we ask you to delete the GRADUATED-CF keyword when present in a client's file. Note: Starting with v14.20, the program ignores the Graduated-CF keyword in the calculation of the tax return. |