  Historical information |
CorpHistory opens a group for each prior taxation year, to give relevant historical data, that will help you compare data upon entry, the results of corporate tax calculations, and assess the financial position of the corporation.
The amounts entered in this group also enable DT Max to refer to prior years' results when required in calculating tax returns for current and future years.
All amounts in this group will be carried forward by DT Max, and should be entered only if DT Max has not been used to calculate previous T2 returns.
The following options are applicable for the keyword CorpHistory.
1st prior year
2nd prior year
3rd prior year
4th prior year
5th prior year
6th prior year
7th prior year
8th prior year
9th prior year
10th prior year
11th prior year
12th prior year
13th prior year
14th prior year
15th prior year
16th prior year
17th prior year
18th prior year
19th prior year
20th prior year
TaxableInc is the taxable income for the year of reference (referred to in CorpHistory) from the T2 return. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword GrossTaxInc to enter the grossed-up taxable income of the corporation for the preceding year. Use [Alt-J] to enter different values for other jurisdictions.
RDTOH-CF is the refundable dividend tax on hand account ending balance of the corporation for the year of reference (referred to in CorpHistory). The ending balance entered for the first prior year will be printed on the T2 schedule.
CRA T2 Auto-fill service
The current year RDTOH is determined in the box labelled "Refundable dividend tax on hand" on page 6 of the T2 return. The RDTOH at the end of the previous tax year is reduced by the dividend refund for the previous tax year. The result is to establish a new balance at the beginning of the current tax year from which a dividend for the year may be computed based on dividends paid.
ERDTOH-CF is the eligible refundable dividend tax on hand account ending balance of the corporation for the year of reference (referred to in CorpHistory). The ending balance entered for the first prior year will be printed on the T2 schedule.
CRA T2 Auto-fill service
The current year ERDTOH is determined in the box labelled "Refundable dividend tax on hand" (for tax years starting after 2018) on page 7 of the T2 return. The ERDTOH at the end of the previous tax year is reduced by the dividend refund for the previous tax year. The result is to establish a new balance at the beginning of the current tax year from which a dividend for the year may be computed based on dividends paid.
 See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 520 - ERDTOH at the end of the preceding tax year
NERDTOH-CF is the non-eligible refundable dividend tax on hand account ending balance of the corporation for the year of reference (referred to in CorpHistory). The ending balance entered for the first prior year will be printed on the T2 schedule.
CRA T2 Auto-fill service
The current year NERDTOH is determined in the box labelled "Refundable dividend tax on hand" (for tax years starting after 2018) on page 7 of the T2 return. The NERDTOH at the end of the previous tax year is reduced by the dividend refund for the previous tax year. The result is to establish a new balance at the beginning of the current tax year from which a dividend for the year may be computed based on dividends paid.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 535 - NERDTOH at the end of the preceding tax year
DivRefund.h is the dividend refund for the year of reference (referred to in CorpHistory). The amount entered for the first prior year will be subtracted from the corporation's refundable dividend tax on hand account on the T2 return.
CRA T2 Auto-fill service
A private or subject corporation may be entitled to a dividend refund for dividends it paid while it was a private or subject corporation, regardless of whether it was a private or subject corporation at the end of the tax year. To claim a dividend refund or to apply the amount to another debit for any tax year, including the same tax year, you have to file your income tax return within three years of the end of the tax year.
EligDivRefund.h is the dividend refund for the year of reference (referred to in CorpHistory). The amount entered for the first prior year will be subtracted from the corporation's eligible refundable dividend tax on hand account on the T2 return.
CRA T2 Auto-fill service
A private or subject corporation may be entitled to a dividend refund for dividends it paid while it was a private or subject corporation, regardless of whether it was a private or subject corporation at the end of the tax year. To claim a dividend refund or to apply the amount to another debit for any tax year, including the same tax year, you have to file your income tax return within three years of the end of the tax year.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 570 - Eligible dividend refund for preceding taxation year
NonEligDivRefund.h is the dividend refund for the year of reference (referred to in CorpHistory). The amount entered for the first prior year will be subtracted from the corporation's non-eligible refundable dividend tax on hand account on the T2 return.
CRA T2 Auto-fill service
A private or subject corporation may be entitled to a dividend refund for dividends it paid while it was a private or subject corporation, regardless of whether it was a private or subject corporation at the end of the tax year. To claim a dividend refund or to apply the amount to another debit for any tax year, including the same tax year, you have to file your income tax return within three years of the end of the tax year.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 575 - Non-eligible dividend refund for preceding taxation year
Use the keyword CGRefund.h to enter the amount of the federal capital gains refund for the previous taxation year. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword CGRefund-CF to enter the amount of the refundable capital gains tax on hand at the end of the previous year. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Associated to indicate if the corporation was associated with another corporation in a prior year.
This information is required in order to calculate the large corporation tax on line 415 of the T2 return (schedule 200).
The following options are applicable for the keyword Associated.
Use the keyword ReduceBusLim to enter the reduced business limit of the corporation of the prior year. A corporation's business limit is reduced by part I.3 tax for taxation years beginning after February 28, 1995. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword SBD-Claimed to indicate whether or not the corporation had claimed the small business deduction in the previous tax year. This information is needed for purposes of determining the federal instalments.
The following options are applicable for the keyword SBD-Claimed.
Use the keyword Hours-Employees.h to indicate the number of hours paid for employees of the corporation in the prior year.
The following options are applicable for the keyword Hours-Employees.h.
Total number of hours paid for employees in prior year Special rules apply to a corporation resulting from an amalgamation and in its first taxation year after the amalgamation if that year ends after June 27, 2023. Such a corporation may include on line 07b the number of hours paid to employees of the amalgamated corporations for the taxation years of those corporations ending in the calendar year preceding the one in which its first taxation year ends.
Gen-Rate-Factor is the general rate factor for the year of reference (referred to in CorpHistory). This rate is used in the calculation of GRIP adjustment for specified future tax consequences in previous tax years on schedule 53.
DT Max will automatically carry forward the current tax year's general rate factor into CorpHistory (1st prior year).
Use the keyword Active-Bus-Inc to indicate that the corporation did have active business in prior year as per Quebec form CO-771. This information is required in order to determine whether the corporation is eligible to make Quebec quarterly instalments.
The following options are applicable for the keyword Active-Bus-Inc.
The business limit reduction is calculated in the small business deduction area of the T2 return. One of the factors used in this calculation is the "Large corporation amount" at line 415 of the T2 return. If the corporation is a member of an associated group of corporations in the current tax year, the amount at line 415 of the T2 return is equal to 0.225% x (A - $10,000,000) where, "A" is the total of taxable capital employed in Canada of each corporation in the associated group for its last tax year ending in the preceding calendar year.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 415 - Taxable capital
Use the keyword AAII.his to enter the corporation's adjusted aggregate investment income (AAII) inclusions and exclusions from their tax year ending in a previous calendar year.
DT Max will automatically carry forward these amounts to next year which are calculated on the current tax year's schedule 7.
The following options are applicable for the keyword AAII.his.
Elig portion tax. capital gain (other than active assets)
Elig portion cap. loss and ABIL (other than active assets)
Total income from property
Amounts in respect of a life insurance policy
Exempt income
Amounts received from AgriInvest Fund No. 2
Dividends from connected corporations
Business income from an interest in a trust
Total losses from property
Amount deducted under subsection 91(4)
Adjusted aggregate investment income - line 745, sch. 7
Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 417 - Adjusted aggregate investment income
For taxation years ending after June, 1994, enter the corporation's Quebec paid-up capital (line 399 of the CO-1136) in the immediately preceding taxation year here. This amount is needed to determine the reduced business limit for Canadian-controlled private corporations for the purposes of the Quebec small business deduction.
If the corporation is an associated corporation, the total Quebec paid-up capital of the associated group is needed to calculate the reduced business limit. Enter the amount of each associated corporation's Quebec taxable paid-up capital, if any, in the TaxableCap keyword in the relevant corporation's RelatedParty group. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Cdn-PUC to enter the corporation's paid-up capital calculated on a Canadian basis for the previous tax year.
Use the keyword QC-M&P-Ded to enter the amount of deduction for a manufacturing corporation (code 08) claimed on line 393 or line 394 of Quebec form CO-1136 in the preceding tax year.
Use the keyword Allow-Invest to enter the amount of allowance for investments in property in Canada claimed in the prior year.
This information is used to determine the net base amount for purposes of federal schedule 20.
Use PriorYearEnd to enter the year-end of the corporation for the year of reference (referred to in CorpHistory). This entry is required if the month and day of the year-end date differ from the current year's YearEnd, i.e. if there has been a change in YearEnd.
CorpType is the type of corporation for the year of reference (referred to in CorpHistory). This should be entered only if the corporation's type has changed in the year of reference from the following YearEnd.
The following options are applicable for the keyword CorpType.his.
CCPC - entire fiscal period Whether the corporation was a Canadian-controlled private corporation for the entire prior taxation year is relevant for purposes of the inclusion rate used for the prior year capital gains and losses. This is relevant in the CorpHistory group when the corporation type was different in a prior year.
Other private corporation Private corporations are subject to part IV tax. They may receive a dividend refund on taxable dividends paid and can have a refundable dividend tax on hand (RDTOH) account. For tax years that begin after 2018, a private corporation's dividend refund will be calculated by reference to two new accounts, the eligible refundable dividend tax on hand (ERDTOH) and the non-eligible refundable dividend tax on hand (NERDTOH). They will replace the existing RDTOH account for those years.
If relevant, enter dividends received in the IncomeSource group, taxable dividends paid in the DividendPaid keyword, the opening RDTOH balance in the RDTOH-CF keyword, the opening ERDTOH balance in the ERDTOH-CF keyword and the opening NERDTOH balance in the NERDTOH-CF keyword. Enter investment income subject to refundable part I tax in the IncomeSource group.
Public corporation
Cdn corp contr by public corp These are other corporation types classified on the federal T2 return. No small business deduction will be calculated for these corporations. If a corporation of this type is a subject corporation for part IV tax purposes, choose "Yes" in the SubjectCorp keyword in the CorpType group.
Co-operative
Credit union Co-operative corporations and credit unions are eligible for the small business deduction also. DT Max will calculate the deduction for these corporations. These corporations will be classified as "other" on the federal T2 return.
Non resident corporation This corporation type will be classified as "other" on the federal T2 tax return. Enter the country of the corporation's residence in the Country keyword so it will print on the federal T2 return.
Federal Crown corporation Federal Crown corporations are exempt from parts I and I.3 tax and deemed not to be private corporations. DT Max will not calculate any federal tax for these corporations. This corporation type will be classified as "other" on the T2 return.
Municipal or provincial corp Provincial corporations or municipalities are exempt from parts I and I.3 tax and deemed not to be private corporations for part IV tax. DT Max will not calculate any federal tax for these corporations. This corporation type will be classified as "other" on the federal T2 return.
Exempt-NPO SR&ED-ITA 149(1)(j) Fed ITA 149(1)(j) non profit organizations for SR&ED are classified as tax-exempt on the federal T2 return. DT Max will not calculate federal tax for these corporations.
Exempt - ITA 149(1)(e) Fed ITA 149(1)(e) tax-exempt corporations consist of agricultural organizations, boards of trade and chambers of commerce.
Exempt - ITA 149(1)(l) Fed ITA 149(1)(l) tax-exempt corporations consist of clubs, societies or organizations operated solely for social welfare, civic improvement, recreation or any other non profit purpose.
Exempt other per ITA 149 Exempt under other paragraphs of Fed ITA section 149.
Other type of corp (specify) This corporation type will be classified as "other" on the federal T2.
Other corp, non share capital Other corporations which are non share capital are separately classified as non share capital corporations on page 1 of the CT-23 return.
Quebec uses total assets of the corporation and all associated corporations, according to the immediately preceding taxation year financial statements, to determine which rate is used to calculate the tax credit. Enter total assets of each associated corporation in the Prev-Yr-Assets keyword in the RelatedParty group of that corporation. Use [Alt-J] to enter different values for other jurisdictions.
Equity.his net share equity of corporation as at prev year-end date
Use the keyword GrossRev.his to enter the gross revenue of the corporation for its preceding taxation year.
Use the keyword Wages.his to enter the salaries and wages paid by the corporation in the preceding taxation year. This information will help determine the rate to be used in the calculation of the Ontario co-operative education tax credit.
Enter the unused registered gain-sharing plan credit from the prior year.
Enter the unused registered gain-sharing plan credit claimed in prior taxation years.
The following options are applicable for the keyword RegGainUsed.
1st prior year
2nd prior year
3rd prior year
4th prior year
5th prior year
PrevYr-BusQ% proportion of business in Que. in previous taxation year
Amounts entered in CapHistory will be used when the current year capital loss is being carried back to the prior year entered in the CorpHistory keyword in this group. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword SR&ED.his to enter SR&ED historical information requested on Alberta schedule 9 in order to calculate SR&ED tax credit.
The following options are applicable for the keyword SR&ED.his.
Federal SR&ED expenses (line 559 - Sch. 32)
Alberta eligible IEG expenses
Alberta expenditure limit less Alberta IEG credit
Federal expenditure limit (line 410 - Sch. 31)
Federal ITC earned (line 540 - Sch. 31)
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TaxableInc 