T1 tax calculations
413 Investment income and expenses / Revenus et dépenses de placement
Where do I enter interest earned from Ontario opportunity bonds in DT Max?Enter the interest income in the T-Slip keyword group where it appears, or use the keyword Interest . Ontario introduced tax-exempt opportunity bonds to support local infrastructure. The interest earned by investors will be exempt from provincial income tax (although taxable federally). However, the interest earned must nonetheless be reported on the provincial tax return. The Ontario Municipal Economic Infrastructure Financing Authority (OMEIFA) will subsequently reimburse the applicable amount. For more information on Ontario opportunity bonds, call 1-866-680-2220. April 27, 2004 |