DT Max - Investment income & dividends

Investment income & dividends

IncomeSource

For income earned from the sources in the IncomeSource keyword during the taxation year, enter the amount earned here. DT Max will then calculate active business income for:

    (i)  Canadian-controlled private corporations and
    (ii) other corporations which have income from the sources in
         INCOMESOURCE and are claiming the manufacturing and processing
         profits deduction.

The following options are applicable for the keyword IncomeSource.

Business - foreign only

Foreign business income entered here will appear as such on Schedule 7 (T2S(7)).

Business - partnership

Partnership business income entered here is used to calculate specified partnership income on Schedule 7 (T2S(7)).

Farming

See the Help for the NetIncome keyword in this group if farming income was earned or a loss was incurred in this taxation year.

Dividend from connected corporation

Taxable dividends received from connected corporations are subject to part IV tax to the extent of the dividend refund received by the payor corporation. The total taxable dividends which the connected corporation paid must be entered in DivdPaid and any dividend refund which it received in DivdRefund (if no refund was received, do not use this keyword or enter zero).

Dividend from other corporation

Enter dividends received from non connected corporations here.

Dividend/capital gain - central credit union

Specified investment business

Specified investment business income entered here is classified as property income on Schedule 7 (T2S(7)) and for foreign tax credit purposes.

Personal services business

Personal services business income entered here is classified as property income on Schedule 7 (T2S(7)) and for foreign tax credit purposes.

Business - trust

Business income from a trust which is entered here will be deemed to be property income in accordance with Fed ITA section 108(5)(a). It will be classified as such on Schedule 7 (T2S(7)) and for foreign tax credit purposes.

Rental property income - detailed information

Rental property income entered here will be classified as other property income on Schedule 7.

Other property income

Other property income is of none of the above types e.g. interest. It will be classified as such on Schedule 7 (T2S(7)) and for foreign tax credit purposes.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid
Line 207 - Investment income/active business income
Line 221 - Foreign tax credit
Line 320 - Taxable dividends deductible
Line 340 - Taxable capital gain / taxable dividend from credit union
Line 400 - Income from active business
Line 432 - service business income
Line 434 - service business income
Line 440 - Aggregate investment income
Line 445 - Foreign investment income
Line 604 - Refundable tax on investment income
Line 632 - Foreign non business income tax credit
Line 636 - Foreign business income tax credit
Line 712 - Part IV tax

See the CRA's general income tax guide:
Line 320 - Taxable dividends deductible under section 112 or 113, or subsection 138(6)
Line 340 - Taxable capital gains or taxable dividends allocated from a central credit union
Line 400 - Income from active business carried on in Canada
Lines 440, 445, and 450
Line 604 - Refundable tax on CCPC's investment income
Line 632 - Federal foreign non-business income tax credit
Line 636 - Federal foreign business income tax credit
Line 712 - Part IV tax payable

Descript.fi

This is the description of the business or payer name to which this income relates. This is for your own information purposes only.

The keyword Sequence.i is used to link CCA-Class keyword groups to a particular rental property. Please begin with the number 1 and increment it by 1 for each additional rental property. In the CCA-Class keyword groups, choose "Yes" for the keyword Rental-Property and enter the matching sequence number within the keyword RENTAL-SEQUENCE.

Rental-Address

Use the keyword Rental-Address to enter the street address of the rental property.

More-Info

Use the keyword More-Info to enter additional address information. This will be line two of the address.

City.e

Use the keyword City.e to enter the city name. DT Max will not check the spelling of the city name.

Province.e

Use the keyword Province.e to select the province.

The following options are applicable for the keyword Province.e.

Newfoundland and Labrador

Prince Edward Island

Nova Scotia

New Brunswick

Quebec

Ontario

Manitoba

Saskatchewan

Alberta

British Columbia

Yukon

Northwest Territories

Nunavut

PostCode.e

Use the keyword PostCode.e to enter the postal code. DT Max will make sure that it is in the correct format and will always enter the alphabetic portions in upper case.

FinalYear

Use the keyword FinalYear to indicate whether or not this is the final year of the rental operation.

The following options are applicable for the keyword FinalYear.

Income.bus

Use the keyword Income.bus to enter the gross rental income.

The following options are applicable for the keyword Income.bus.

Gross rental income

Other income

Expenses

Use the keyword Expenses to enter the type and amount of deductible rental expense.

The following options are applicable for the keyword Expenses.

Advertising

Insurance

Interest and bank charges

Office expenses

Professional fees (includes legal and accounting fees)

Management and administration fees

Repairs and maintenance

Salaries, wages and benefits (including employer's contr.)

Property taxes

Travel

Utilities (light & power)

Motor vehicle expenses (not including CCA)

Gardening

Snow removal

Other expenses (specify)

Ownership

Use the keyword Ownership to indicate the type of ownership, if it applies.

The following options are applicable for the keyword Ownership.

Co-ownership

Partnership

Bus-Partner

Use the keyword Bus-Partner to enter the names of the partners and their respective shares in the rental property.

Co-owner

Use the keyword Co-owner to enter the names of the co-owners and their respective shares in the rental property.

Oth-Expenses

Use the keyword Oth-Expenses to enter other expenses you have incurred as a partner or co-owner that have not been deducted elsewhere.

NetIncome.fi

This is the net income earned during this taxation year related to the income source of this group. The amount entered will appear on the schedule where that source of income must be separately classified such as schedule 7 or schedule 21 (foreign income). Use [Alt-J] to enter different values for other jurisdictions.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 550 - Base amount Part I tax
Line 555 - Taxable inc. personal services business

See the CRA's general income tax guide:
Line 550 - Base amount of Part I tax

NetIncome.fa

NetIncome here is required to determine the maximum amount of restricted farm losses carried forward which can be claimed in the current year, if income from farming was earned in the year.

Indicate that farming is the corporation's chief source of income by choosing the relevant farming corporation type in the Activity keyword. Otherwise, DT Max will assume that farming is not the chief source of income.

If a loss from farming was incurred and farming is not the chief source of income, DT Max will calculate the current year restricted farm loss, add it back on schedule 1 to net income and carry forward the loss on schedule 4. Enter losses as negative amounts in NETINCOME here. DT Max will also use the loss entered to calculate the current year restricted farm loss if farming is not the corporation's chief source of income. Use [Alt-J] to enter different values for other jurisdictions.

PartnerName

Enter the limited partnership identification number in the PIN-Id keyword in the RelatedParty group of the partnership and the same partnership's name in the PartnerName keyword here. The name must be typed in the same way in both keywords.

Partner-ABI

Partner-ABI must be disclosed on schedule 7 in the calculation of specified partnership income for each partnership of which the corporation is a member. Use [Alt-J] to enter different values for other jurisdictions.

PartnerDays

Use the keyword PartnerDays to calculate the business limit relating to a particular partnership in the specified partnership income calculation on Schedule 7. Use this keyword only if the partnership's fiscal period is less than 365 days. DT Max will prorate the business limit for the number of days in the period over 365. If no amount is entered here, DT Max will default to 365 days.

PartnerShare

PartnerShare is needed to calculate specified partnership income from this partnership on schedule 7. Use [Alt-J] to enter different values for other jurisdictions.

Inc-GoodServices

Use the keyword Inc-GoodServices to enter income the corporation earned by providing goods and services to the partnership. This will appear on line 311 of federal schedule 7 and on line 12aa of Quebec form CO-771.2.1.2. Use [Alt-J] to enter different values for other jurisdictions.

Member-Int%.i

Enter the corporation's percentage interest in a partnership in Member-Int%.i. The interest entered will print on all schedules where information related to partnerships to which the corporation belongs is requested. Only the name of this partnership then needs to be entered in the relevant keyword group to which the partnership relates.

Section34-Adj

In general, amounts included or deducted under subsections 34.2(2), 34.2(3), 34.2(4), 34.2(11), and 34.2(12) are deemed to have the same character and be in the same proportions as the partnership income to which they relate. For example, if a corporation receives $100,000 of partnership income for the partnership's fiscal period ending in its tax year, and that income is made up of $40,000 of active business income, $30,000 of income from property, and $30,000 as a taxable capital gain, the corporation's adjusted stub period accrual (ASPA) in respect of the partnership would be 40% active business income, 30% property income, and 30% taxable capital gains. Add or deduct only the proportion of the following amounts that is deemed under subsection 34.2(5) to be active business income:

add:

- the ASPA under subsection 34.2(2) (column 4 of Schedule 73);
- the income inclusion for a new corporate member of a partnership under subsection 34.2(3) (column 6 of Schedule 73);
- the previous-year transitional reserve under subsection 34.2(12) (column 12 of Schedule 73);

deduct:

- the previous-year ASPA under subsection 34.2(4) (column 5 of Schedule 73);
- the previous-year income inclusion for a new corporate member of a partnership under subsection 34.2(4) (column 7 of Schedule 73); and
- the current-year transitional reserve under subsection 34.2(11) (column 11 of Schedule 73). Use [Alt-J] to enter different values for other jurisdictions.

PartnerExps

PartnerExps is needed to calculate specified partnership income on schedule 7. These expenses are deducted from the corporation's share of the partnership's active business income (entered in PartnerShare keyword). Include any reserve under subsection 34.2(4) of the ITA for the year in respect of "December 31, 1995 income" from that partnership. Use [Alt-J] to enter different values for other jurisdictions.

PartnerDivds

Use the keyword PartnerDivds to enter the amount of deduction for taxable dividends claimed in the taxable income calculation of the corporation for a dividend received from the partnership.

RetiredPartner-Inc

Use the keyword RetiredPartner-Inc to enter the income allocated to the corporation under subsection 96(1.1).

Amount-Div

The amount of the dividend received by the corporation will appear on schedule 3 or schedule 6 (capital gains dividends). DT Max will also use the total amount of dividends entered to calculate the amount of the deduction for dividends which are deductible under ITA sect. 112 and 113. This deduction will print on the appropriate line of the T2, and CO-17 returns.

The following options are applicable for the keyword Amount-Div.

Dividend subject to part IV tax

Part IV tax is payable by corps who are private or subject corporations at any time in the taxation year. If this is a subject corporation, choose "Yes" in the SubjectCorp keyword in the CorpType group.

Dividends subject to part IV tax are as follows:

1. Dividends received from non connected corporations which are
   deductible under Fed ITA sect. 112(1);

2. Dividends received from non connected foreign affiliates which are
   deductible under Fed ITA sect. 113;

3. Dividends received from connected private corporations to the
   extent that the payor corporation has received a dividend refund
   on the dividends paid. (Schedule 7)

Indicate whether the dividend received is from a connected or other corporation in the IncomeSource keyword.

Dividends which are deductible under Fed ITA sect. 112 & 113 are as follows:

1. Dividends received from a taxable Canadian corporation;

2. Dividends received from a corporation resident in Canada which is controlled by the receiving corporation;

3. Dividends (or part of) received from a non resident corporation (not a foreign affiliate) that has carried on a business in Canada continuously since June 18/71.

4. Taxable dividends which are not excluded by Fed ITA sect. 112(2.1) to (2.9) inclusive;

5. Taxable dividends received from non connected foreign affiliates.

Dividend from foreign affiliate

No ITA 20(12) deduction nor foreign tax credit is allowed on dividends received from foreign affiliates of the corporation; Fed ITA 113 allows a deduction for these dividends. Dividends received from a non connected foreign affiliate are subject to part IV tax.

Non-taxable dividend per ITA 83

These are dividends received from a corporation's capital dividend account when a Fed ITA sect. 83 election was made by the corporation. These dividends are exempt from part IV tax. The amount entered will be reported on Schedule 3 (T2S(3)) and deducted from net income on Schedule 1 (T2S(1)).

Capital gains dividend

Capital gains dividends are distributions made by mutual funds corporations of their realized capital gains. Dividends entered here will appear on Schedule 6 (T2S(6)) only as capital gains.

Deemed dividend on SBD bonds

Dividends received on Small Business Development Bonds and Small Business Bonds are exempt from part IV tax but are deductible under Fed ITA sect. 112.

Non deductible taxable dividend

Taxable dividends which are non deductible under Fed ITA sect. 112 or 113 include the exclusions in Fed ITA sect. 112(2.1) to (2.9).

Portion of eligible dividend deductible per ITA 112/113

Use [Alt-J] to enter different values for other jurisdictions.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid
Line 340 - Taxable capital gain / taxable dividend from credit union

See the CRA's general income tax guide:
Line 340 - Taxable capital gains or taxable dividends allocated from a central credit union

CDA-Ov

Use the keyword CDA-Ov to indicate whether or not the non-taxable portion of the capital gain dividend is to be excluded from the calculation of the capital dividend account.

The following options are applicable for the keyword CDA-Ov.

DateReceived

This is the date on which the taxable dividends were received. Please note that this is a memo for the tax preparer only.

DivdRefund

Enter the dividend refund received by the payor connected corporation in its taxation year. This is needed to calculate the amount of dividends received by this corporation which are subject to part IV tax.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid

DivdRef-ERDTOH

Enter the portion of dividend refund to the connected payer corporation from its ERDTOH for paying the taxable dividends. This is needed to calculate the amount of dividends received by this corporation which are subject to Part IV tax.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid

Add-NonEligDivdRef

Enter the additional non-eligible dividend refund of the connected payer corporation, which is the amount II of the connected payer corporation (on page 7 of the T2 return). This information is needed to calculate the amount of dividends received by this corporation which are subject to Part IV tax.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid

DivdPaid

Enter the total amount of taxable dividends paid by the payor connected corporation in its taxation year. This is needed to calculate the amount of dividends received by this corporation which are subject to part IV tax.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid

DivdPaid-Elig

Enter the total amount of eligible dividend paid by the connected payer corporation in its taxation year. This information is needed to calculate the amount of dividends received by this corporation which are subject to Part IV tax.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid

NameOfPayer

The name of the payer of the dividend entered in this IncomeSource group is required information for schedule 3.

Bus-Num-Con

The business number of the payer (connected corporation) of the dividend entered in this IncomeSource group is required information for schedule 3.

BusNumber

If the corporation has received a non taxable dividend as per ITA 83, the business number of the payer of the dividend entered in this IncomeSource group is required information for Schedule 89.

Date-Payable

This is the date on which the capital dividend became payable. This information is needed in Part 3 of federal schedule 89.

Year-End-Con

The year end of the payer (connected corporation) of the dividend entered in this IncomeSource group is required information for schedule 3.

Expenses-Inc

The amount of Expenses-Inc entered here will be deducted from dividends entered in this group in the calculation of net taxable dividends on schedule 7.

Exempt-Inc

Use the keyword Exempt-Inc to enter amounts received by the corporation, other than dividends, that are excluded from computing income subject to ordinary (part I) income tax by virtue of part I of the ITA. Examples of exempt income may be found in section 81 of the ITA.

ExclPropInc

These are different types of property income which are deemed not to be property income. For Quebec only, this income needs to be disclosed in the property income (loss) or income from an eligible business calculations on the CO-771 form.

The following options are applicable for the keyword ExclPropInc.

Property, incident to eligible business

Property income which is incident to an eligible business is deemed not to be property income.

Property, over 50% used in business

Property income derived from property used or held principally (more than 50%) for the purpose of gaining income from an eligible business is deemed not to be property income.

Property & SIB, associated corporation

Property income derived from property or a specified investment business and received or receivable from an associated corporation is deemed not to be property income when the amount paid by the associated corporation is deductible from its income from a Canadian eligible business.

Taxable dividend deemed business income

For taxation years ending after May 20/93, taxable dividends which are deductible but are considered to be business income will reduce income from an eligible business.

Property, NISA fund # 2 of corporation

Property income received from the corporation's net income stabilization account fund no. 2 is considered to be income from an eligible business.

Designated invest. prop. inc. paid/payable by assoc. corp.

The corporation is not entitled to the SBD in respect of its income that is derived from a designated investment property or investment business that was paid or was payable to the corporation in the taxation year by a corporation to which it is associated and that is deemed to be income from an eligible business if the following conditions are met:
- The associated corporation is not a CCPC or is a CCPC that, in a context
where two corporations are deemed to be associated with each other because
they are associated with that CCPC, made a valid election under subsection 256(2)
of the Income Tax Act, not to be associated with either of those corporations
for the taxation year, and
- The corporation's taxation year began after March 21, 2016.

Use [Alt-J] to enter different values for other jurisdictions.

Country.fi

Enter the country of (source of) the foreign income entered in this IncomeSource group.

TaxPaid

This is the total foreign income tax paid on this income. The amount entered will appear on schedule 21 and will be used to calculate the foreign tax credit on this income.

TaxTreaty

Use TaxTreaty to enter amounts to be deducted from net income for tax purposes due to a tax treaty with Canada. DT Max will deduct this amount from the NetIncome amount entered in this group for the foreign tax credit calculation on schedule 21. The total treaty-exempt income will be deducted from net income for tax purposes on the tax returns filed.

ForTaxDedOV

Use ForTaxDedOV to override the automatic calculation of the foreign non business tax deduction from income for the federal, Quebec and Alberta jurisdictions.

The following options are applicable for the keyword ForTaxDedOV.

Federal

Quebec

Alberta

DividendPaid

Enter all dividends paid this year in the DIVIDENDPAID keyword. DT Max will use the amount of taxable dividends paid to calculate the current year dividend refund. Amounts entered here will also print on schedule 3.

The following options are applicable for the keyword DividendPaid.

Taxable dividend paid

An amount equal to 1/3 of taxable dividends paid by the corporation during the taxation year is eligible for the dividend refund, within the limits of the corporation's refundable dividend tax on hand account. The amount entered will appear on Schedule 3 (T2S(3)) and on the T2 return.

Taxable dividend paid to connected corp.

An amount equal to 1/3 of taxable dividends paid by the corporation during the taxation year is eligible for the dividend refund, within the limits of the corporation's refundable dividend tax on hand account. The amount entered will appear on Schedule 3 (T2S(3)) and on the T2 return.

Dividend paid out of CDA, ITA 83(2)

Choose this option if you wish to pay a dividend from your capital dividend account. DT Max will then produce forms T2054 and CO-502.
These forms must be filed separately from any other return (if they are sent along with another return, ensure that they are not enclosed with or otherwise attached to the other document), by the first of the following deadlines, at the latest: i) the date on which the dividend becomes payable; or ii) the first day on which a portion of the dividend is paid to the district taxation office of the area where the corporation is located or, if the corporation has a head office, at the district taxation office of the area where the head office is located.

Capital gains dividend

Non-taxable dividend, ITA 129(1.2)

Tax. div. to controlling bankrupt

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 203 - Dividends received/taxable dividends paid
Line 265 - Taxable dividends paid
Line 4250 - AA Eligible dividends paid
Line 4280 - DD Non-eligible dividends paid
Line 2710 - Part III.1 tax payable
Line 784 - Dividend refund

See the CRA's general income tax guide:
Line 784 - Dividend refund

Portion-EligDivd

Enter the portion of eligible dividends paid this year in the Portion-EligDivd keyword. This amount is already included in the DividendPaid keyword. DT Max will use the amount of eligible dividends paid to calculate the current year eligible dividend refund. Amounts entered here will print on Schedule 3.

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 4250 - AA Eligible dividends paid

NameOfPayee

The name of the payee of the dividend entered in this DividendPaid group is required information for schedule 3.

BusNum-Con

The business number of the payee (connected corporation) of the dividend entered in this DividendPaid group is required information for schedule 3.

YearEnd-Con

The year end of the payee (connected corporation) of the dividend entered in this DividendPaid group is required information for schedule 3.

DatePayable

Use the keyword DatePayable to enter the date on which the dividend becomes payable by the filing corporation. This information is required for purposes of forms T2054 and CO-502.

DatePaid

Use the keyword DatePaid to enter the date on which the first payment of the dividend is made. This information is needed for purposes of forms T2054 and CO-502.

Date-Prev

Use the keyword Date-Prev to enter the date on which the previous election was made. This information is required for purposes of forms T2054 and CO-502.

AOC-PrevElection

Use the keyword AOC-PrevElection to indicate whether or not there has been an acquisition of control since the date of the last election.

The following options are applicable for the keyword AOC-PrevElection.

PrevElection

Use the keyword PrevElection to enter the amount of the dividend resulting from the previous election. This information is required for purposes of form CO-502.

FilingDate

Use the keyword FilingDate to enter the actual filing date of the election to pay a dividend, for purposes of form T2054. This information is required to determine whether a penalty for late filing applies.

See the CRA's general income tax guide:
Line 784 - Dividend refund

ShareholderName

Use the keyword ShareholderName to enter the name of the shareholder. The shareholder information is required in Part 6 of federal form T2054.

SIN.sh

Use the keyword SIN.sh to enter the social insurance number of the shareholder.

BusinessNum.sh

Use the keyword BusinessNum.sh to enter the federal business number of the shareholder corporation.

TrustNum.sh

Use the keyword TrustNum.sh to enter the federal trust number of the shareholder.

PartnershipNum.sh

Use the keyword PartnershipNum.sh to enter the federal account number of the shareholder partnership.

Payment-Date

Use the keyword Payment-Date to enter the date of payment of the dividend.

Capital-Dividend

Use the keyword Capital-Dividend to enter the shareholder's share of the capital dividend.

Contact-Info

Use the keyword Contact-Info to enter the contact information for purposes of federal form T2054 and/or Quebec form CO-502.

If the keyword Contact-Info is not entered, DT Max will default to the keyword ContactName in the Address group.

The following options are applicable for the keyword Contact-Info.

Contact information for purposes of forms T2054/CO-502

Care-Of.e

The name of addressee entered in Care-Of.e will print as the first line of the address when the address entered in this group is printed on the return.

FirmName.e

The firm name entered here will display on federal form T2054.

Street.e

Use the keyword Street.e to enter the street name.

Suite.e

Use the keyword Suite.e to enter the suite number. If this is entered, DT Max will print the hash sign, "#" and the number. Do not enter the word "SUITE" or "#". If nothing is entered, DT Max will understand that there is no relevant suite number and will not print anything.

POBox.e

This is the post office box number of the contact person. If this is entered, DT Max will print "P.O. Box" and the number. Do not enter "P.O. Box" or "#". If nothing is entered, DT Max will understand that there is no relevant P.O. box number and will not print anything.

City.e

Use the keyword City.e to enter the city name. DT Max will not check the spelling of the city name.

Province.e

Use the keyword Province.e to select the province.

The following options are applicable for the keyword Province.e.

Newfoundland and Labrador

Prince Edward Island

Nova Scotia

New Brunswick

Quebec

Ontario

Manitoba

Saskatchewan

Alberta

British Columbia

Yukon

Northwest Territories

Nunavut

PostCode.e

Use the keyword PostCode.e to enter the postal code. DT Max will make sure that it is in the correct format and will always enter the alphabetic portions in upper case.

Phone.e

Use the keyword Phone.e to enter the telephone number of the person.

Extension.e

Use the keyword Extension.e to enter the telephone extension number.

LateMonths-OV

Use the keyword LateMonths-OV to override the DT Max calculation of the number of months or part months from the required filing date to the actual filing date for purposes of the late filing penalty on federal form T2054 and Quebec form CO-502.

For DT Max to calculate the number of months, enter the keywords DATEPAYABLE, DATEPAID, and FILINGDATE within the DIVIDENDPAID group.

Pref-Shares

Use the keyword Pref-Shares to indicate the source of the taxable dividend subject to parts IV.1 & VI.1 taxes.

The following options are applicable for the keyword Pref-Shares.

Taxable preferred shares

Taxable dividends (other than excluded dividends under subs. 191(1), 191(4), and 191(5)) to the extent that the total exceeds $1 million, that were paid in the immediately preceding calendar year on taxable preferred shares or shares that would be taxable preferred shares if they were issued after June 18, 1987, and were not grandfathered shares (subs. 191.1(2)). (Amount B on Schedule 43).

Short-term preferred shares

Taxable dividends (other than excluded dividends under subs. 191(1), 191(4), and 191(5)) paid in the year on short-term preferred shares. (Amount G on Schedule 43)

Subsection 191.2(1) election shares

Taxable dividends (other than excluded dividends) paid in the year on taxable preferred shares (other than short-term preferred shares) of all classes for which the corporation has made an election under subs. 191.2(1). (Amount K on Schedule 43).

Non subsection 191.2(1) election shares

Taxable dividends (other than excluded dividends) which the corporation paid in the year on taxable preferred shares (other than short-term preferred shares) and did not elect under subs. 191.2(1). (Amount R on Schedule 43).

Taxable preferred shares - not excepted

Taxable dividends (other than excepted dividends under section 187.1 and subs. 191(4) and 191(5)) received in the year on taxable preferred shares (other than a share of a class for which the corporation has made an election under subs. 191.2(1)). (Amount EE on Schedule 43).

RFI shares

Taxable dividends (other than excepted dividends) on taxable RFI shares, received in the year by a restricted financial institution (section 187.3). (Amount FF on Schedule 43).

See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 243 - Part IV.1 and Part VI.1 taxes
Line 325 - Part VI.1 tax deduction
Line 716 - Part IV.1 tax
Line 724 - Part VI.1 tax

See the CRA's general income tax guide:
Line 325 - Part VI.1 tax deduction
Line 716 - Part IV.1 tax payable
Line 724 - Part VI.1 tax payable

PartIV-Amnt

Use the keyword PartIV-Amnt to enter the portion of dividends that are subject to part IV.1 tax and part IV tax.

The following options are applicable for the keyword PartIV-Amnt.

Dividend from connected corporation

Taxable dividends received from connected corporations are subject to part IV tax to the extent of the dividend refund received by the payor corporation. The total taxable dividends which the connected corporation paid must be entered in DivdPaid and any dividend refund which it received in DivdRefund (if no refund was received, do not use this keyword or enter zero).

Part IV tax on dividends from connected corp.

Part IV tax on taxable dividends reported on line 370 of Schedule 43.

Dividend from other corporation

Enter dividends received from non connected corporations here.

Eligible taxable dividends from other corp.

Eligible taxable dividends included on line 390 of Schedule 43.

- the first day on which any part of the dividend was paid.

Use the keyword T2054-Filed to indicate whether or not form T2054 has already been filed with the CRA.

If you choose "Yes", form T2054 will not be generated by DT Max.

The following options are applicable for the keyword T2054-Filed.

CO-502-Filed

The CO-502 must be filed separately from the return on or before the earlier of:

- the day the dividend becomes payable; and

- the first day on which any part of the dividend was paid.

Use the keyword CO-502-Filed to indicate whether or not form CO-502 has already been filed with RQ.

If you choose "Yes", form CO-502 will not be generated by DT Max.

The following options are applicable for the keyword CO-502-Filed.

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