  Related parties |
The RELATEDPARTY group is useful to enter all parties (corporations, partnerships, joint ventures or other persons) whom are involved with this corporation where information on the parties is relevant to the corporation's tax return. Where the name of the party is entered in another group, all information requested regarding that party which is contained in this group will print on the relevant forms or schedules. The party's name must be typed in the same way in both keywords in the RELATEDPARTY and other group.
The following options are applicable for the keyword RelatedParty.
Related corporation For related corporations entered here, DT Max will print Schedule 9 (T2S(9)) disclosing the corporations' names, addresses, account numbers, details of any intercompany shareholdings and the type of relationship with this corporation.
Associated corporation For associated corporations entered here, DT Max will print Schedule 23 (T2013) disclosing the corporations' names, account numbers, addresses (CO-771.1.3), allocated business limits and allocated expenditure limits.
Related & associated corporation If a corporation is related to and associated with this corporation, DT Max will produce both the Schedule 9 (T2S(9)) and Schedule 23 (T2013) with respect to the corporation entered here.
Partnership - corp is partner If the corporation is a member of a partnership, enter the information related to the partnership here. This information is relevant to Schedule 4 (T2S(4)-non) (limited partnership losses), Quebec SR&ED and other credit schedules (SR&ED performed by a partnership to which the corporation belongs), provincial capital tax returns (corporation's share of partnership's taxable capital).
Joint venture - corp is venturer If the corporation is a member of a joint venture, enter the information related to the joint venture here. This information is used for the B.C. and Ontario capital tax returns to determine the corporation's share of the joint venture's taxable capital.
Que SR&ED consortium - corp is member If the corporation is a member of a Quebec SR&ED consortium, enter the information relevant to the consortium here. This information will print on the RD-1029.8.6 (SR&ED credit for research done by research consortium) and RD-1029.8.9.03 (Credit for fees or dues paid to a research consortium) forms.
Other SR&ED - related party Information on other SR&ED - related parties is needed for the following forms:
- Quebec R &D credit forms:
RD-1029.8.6 (SR&ED credit for university research or research
done by public research centre);
RD-1029.7 (SR&ED credit for salaries and wages);
RD-1029.8.10 (SR&ED credit for pre-competitive research,
catalyst projects or environmental technology
innovation projects)
- Ontario Innovation Tax Credit form:
Information on third parties from which contract amounts have
been received or payments made to. Enter contract amounts
received in CONTRACT-REC in the OITCCONTRACT group.
Related financial institution
 See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
 See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Use DTMax-ImportClient to indicate whether or not DT Max should automatically import information concerning a related party from the current DT Max client list.
If yes, you will be prompted to enter the client number of the related party you wish to import.
If you choose to re-import the related corporation, you must re-select the option "yes". This will update all keywords in the RelatedParty group unless they have been verified and checkmarked. A checkmarked keyword guarantees that the information will remain unchanged.
The following options are applicable for the keyword DTMax-ImportClient.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
DT Max will automatically input the client number of the related party as well as the date and time it was last calculated in the keyword DTMax-ClientNum.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Use the keyword Name.re to enter the name of the party that is involved with the corporation.
Use the keyword Association to indicate the association code.
The following options are applicable for the keyword Association.
01 Associated for purposes of the business limit
02 CCPC that is a third corporation - s.256(2)
03 Non-CCPC that is a third corporation -s.256(2)
04 Associated non-CCPC
05 Associated CCPC - via third corp - s.256(2)
Use the keyword LCT-Related to indicate whether the corporation entered in this RelatedParty group is also related for purposes of part VI tax.
The following options are applicable for the keyword LCT-Related.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 250 - Agreement - Part VI tax
DT max will calculate the capital deduction of the client corporation based on the entry made under Capital-Ded.
The following options are applicable for the keyword Capital-Ded.
Use Amended-S23 to indicate that schedule 23/49 being filed with the client corporation's T2 return is amended.
The following options are applicable for the keyword Amended-S23.
Use Amended-Form to indicate if the form being filed with the client corporation's T2 return is amended.
This information is needed for federal schedules 28 and 39.
The following options are applicable for the keyword Amended-Form.
Use Sch513-Filed to indicate that schedule 513 (Agreement among related life insurance corporations (Ontario)) has been filed with the corporation's return.
The following options are applicable for the keyword Sch513-Filed.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
The street of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
Use the keyword More-Info-Id to enter additional address information. This will be line two of the address.
The city of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
The province of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
The following options are applicable for the keyword Province-Id.
The state of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
The postal code of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
The zip code of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
The foreign postal code of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
The country of the party whose name is entered in RelatedParty will print on all schedules where this information is requested. Only the name of this party then needs to be entered in the relevant keyword group to which the party relates.
Use the keyword SIN-Id to enter the SIN of the entity.
Use this keyword to enter the QST number of the person that payments were made to for purposes of the RD-1029.8.16.1 form.
The associated corporation's income tax account number or business number.
The associated corporation's identification number will print on Quebec forms.
This is the new Québec enterprise number (NEQ) of the corporation. This number will serve as a prefix to replace all other Québec tax numbers, all of which will appear as suffixes to this number.
The associated corporation's income tax account number will print on the Alberta forms.
The associated corporation's capital tax account number will print on the schedule F (schedule of associated corporations) of the B.C. corporation capital tax return.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
The partnership identification number entered in PIN-Id, if this group relates to a partnership, will print on all schedules where this information is requested. Only the name of this partnership then needs to be entered in the relevant keyword group to which the partnership relates.
The identification number entered in QC-PIN-Id, if this keyword group relates to a partnership, will appear on all schedules where this information is requested. In this case, only the name of the partnership will need to be entered in the relevant keyword group to which the partnership relates.
Use the keyword Sector to indicate the activity sector in which the related party is involved.
The following options are applicable for the keyword Sector.
Enter the portion of the partnership's ITC the corporation is claiming in the RelatedParty group.
The following options are applicable for the keyword Partner-ITC.
Qualified property and qualified resource property (10%) For qualified property and qualified resource property acquired after March 28, 2012, and before January 1, 2014 (that include qualified resource property investments acquired after 2013 and before 2017 that are eligible for transitional relief), the rate at which the ITC is calculated is 10%.
3B - not CCPC (area in Canada after 1995) For qualified SR&ED expenditures incurred after 1994, Code 3B has been eliminated except if the expenditures were incurred by virtue of a written agreement entered into before Feb.22/94. These expenditures will still qualify for an ITC under Codes 4B or 11B (for CCPC's only) up to 1995. Effective after 1995, Code 3B includes any area in Canada.
11B - CCPC For SR&ED expenditures entered in Code 11B (for CCPC's only), DT Max will limit the amount of expenditures claimed on the corporation's expenditure limit and any excess will be allocated to Code 4B.
Use the keyword Partner-LogInc to enter the corporation's share of partnership total income from logging operations in the current year.
Use the keyword Partner-Res to enter the corporation's share of the partnership's resource expenses for the fiscal period.
Use the keyword Part-GrossRev to enter the corporation's share of the partnership's gross revenue for purposes of Quebec schedule CO-1140.
The following options are applicable for the keyword Part-GrossRev.
Gross IFC revenue of partnership attribut. to member The portion of the gross IFC revenue of a partnership refers to a proportion, for the fiscal period of a partnership that coincides with the taxation year of a corporation or ends in that taxation year, of the gross revenue of that partnership from operations of an IFC.
Total gross revenue of partnership attribut. to member The portion of the total revenue of a partnership refers to a proportion, for the fiscal period of a partnership that coincides with the taxation year of a corporation or ends in that taxation year, of the total gross revenue of that partnership.
Use the keyword Partner-Sal to enter the corporation's share of the partnership's salaries for purposes of Quebec schedule CO-1140.
The following options are applicable for the keyword Partner-Sal.
IFC salaries of partnership The portion of the IFC salaries attributable to a partnership refers to a proportion, for the fiscal period of a partnership that coincides with the taxation year of a corporation or ends in that taxation year, of the total salaries of that partnership that are eligible for the employers' exemption from contribution to the Health Services Fund.
Total salaries of partnership attribut. to member The portion of the total salaries of a partnership refers to a proportion, for the fiscal period of a partnership that coincides with the taxation year of a corporation or ends in that taxation year, of the total salaries of that partnership.
Use the keyword Investments.re to enter the amount of qualified investments made by the related party.
The following options are applicable for the keyword Investments.re.
Inv. made by corp. - in part of the yr joint venture
Inv. made by corporation - during whole year
Inv. made - 24 months prior to beginning of year
Specified expenses - 48 months prior to beginning of year
Eligible expenses - curr yr or 48 months before start of yr
Enter the corporation's percentage interest in a partnership or joint venture in Member-Int%. The interest entered will print on all schedules where information related to partnerships or joint ventures 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.
The identification number ( #) of the research consortium entered here will print on the RD-1029.8.9.03 form when the name of this consortium, entered in the RelatedParty keyword, is entered in the SR&EDTAXCRQ group for the Quebec credit for fees or dues to a research consortium.
The type of relationship which this corporation has with the related corporation entered in this group will print on schedule 9.
The following options are applicable for the keyword Relation-As.
Associated
Related corporation (not associated)
Canadian parent corporation
Foreign parent corporation
Canadian subsidiary corporation
Foreign subsidiary corporation
Details of any intercompany shareholdings between this corporation and the related corporation entered in this group will print on schedule 9.
The following options are applicable for the keyword SharesHeld.a.
Common shares Enter the proceeds from the issue of the common shares with full voting rights that are part of a qualified investment made by a qualified investor. This type of investment leads to a credit representing 24% of the proceeds.
A common share with full voting rights is a common share as per the Income Tax Act, comprising a certain number of voting rights in the issuing corporation, in any circumstance and regardless of the number of shares held, which is not lower than the number of any other shares of the share capital of that corporation.
Preferred shares Enter the proceeds from the issue of the preferred shares, convertible into common shares with full voting rights that are part of a qualified investment made by a qualified investor. This type of investment leads to a credit representing 12% of the proceeds.
A preferred share is a preferred share as per the Income Tax Act, convertible into a common share comprising a certain number of voting rights in the issuing corporation.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Details of any intercompany shareholdings between this corporation and the related corporation entered in this group will print on schedule 9.
Details of any intercompany shareholdings between this corporation and the related corporation entered in this group will print on schedule 9.
Details of any intercompany shareholdings between this corporation and the related corporation entered in this group will print on schedule 9.
Use the keyword YearBegin.pa to indicate the beginning date of the related party's fiscal period.
The related party's year end will print on the appropriate form.
Use the keyword CCPC.re to indicate whether or not the associated corporation is a Canadian-controlled private corporation (CCPC).
The following options are applicable for the keyword CCPC.re.
Use FirstYr.re to indicate whether or not this is the first tax year of the related party. If "Yes" is selected for a corporation, enter the assets and paid-up capital at the beginning of the tax year. If "Yes" is selected for a partnership, enter the assets at the beginning of the tax year.
The following options are applicable for the keyword FirstYr.re.
Use BeginPUC.re to enter the paid-up capital of the associated corporation at the beginning of the first tax year. This amount comes from Québec form CO-1136.CS line 399 without taking into account the $1 million deduction at line 347.
The following options are applicable for the keyword BeginPUC.re.
Use BeginAssets.re to enter the assets of the related party at the beginning of the first tax year.
This is the associated corporation's taxable income in the immediately preceding calendar year for which its last tax return was filed. This amount will print on schedule 23/49.
Based on the PrevYrTaxInc entered, DT Max will determine whether this corporation is eligible for the 35% investment tax credit (ITC), 100% ITC refund on qualifying SR&ED expenditures and the 40% ITC refund on other expenditures. The amount entered here will appear on schedule 23/49.
Use [Alt-J] to enter different values for other jurisdictions.
Use this keyword to enter the associated corporation's taxable paid-up capital in the previous fiscal period. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Prev-Cdn-PUC to enter the associated corporation's paid-up capital calculated on a Canadian basis for the previous tax year.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Use the keyword PrevYr-AAII to enter the associated corporation's adjusted aggregate investment income (AAII) from their tax year ending in a previous calendar year.
For the associated corporation's first tax year starting after 2018, enter the amount from line 744 of Schedule 7. Otherwise, enter line 745 of Schedule 7 from their preceding tax year.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 417 - Adjusted aggregate investment income
Use the keyword QC-M&P-Ded.re 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 Logging-Income to enter the logging income for the associated corporation in the current year.
Use TaxableInc.re to enter the taxable income of the associated corporation in the current tax year. This information is needed for purposes of determining the eligibility for quarterly instalments.
A CCPC will be eligible to make quarterly instalment payments if, at the time the payment is due:
1) it has a perfect compliance history;
2) it has claimed a small business deduction for the current or previous tax year;
3) together with any associated corporations, for the current or previous tax year:
- it has taxable income of $500,000 or less; and
- it has taxable capital employed in Canada for the tax year of $10 million or less.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
This keyword is used to generate federal schedule 33, 34 or 35 if the total taxable capital employed in Canada of the filing corporation and its related corporations is over $10,000,000.
Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Elect-S11381 to indicate that the corporation elected under section 1138.1 not to be an associated third party for purposes of the $5,000,000 deduction from paid-up capital.
Once this election is made, the corporation's deduction from paid-up capital for the year will be nil.
The following options are applicable for the keyword Elect-S11381.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Use the keyword Alloc%-Farm to enter the percentage of the farming/fishing deduction that has been allocated to be used in the calculation of paid-up capital of the associated corporation for the year.
The amount to be deducted in calculating the paid-up capital of a farming corporation or a corporation that carries on a fishing business has been raised from $400,000 to $5 million. The change applies to a taxation year that ends after February 20, 2007. In the case of a taxation year that includes February 20, 2007, the increase in the exemption corresponds to the proportion of $4.6 million represented by the ratio between the number of days of the taxation year that follow February 20, 2007, and the number of days in the taxation year.
Use the keyword Hours-Employees.re to indicate the number of hours paid for employees of the related party.
The following options are applicable for the keyword Hours-Employees.re.
Total number of hours paid for employees during tax year
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.
The keyword Elect-CO771CH is used solely for purposes of Quebec form CO-771.CH.
A corporation that is a member of a partnership can also make the election to determine whether it can claim the SBD with respect to its share of the income of the partnership for the corporation's taxation year in which the partnership's fiscal period ends, after June 20, 2020, but before July 1, 2021. The election will allow the corporation to apply the number of the partnership's employee remunerated hours it used to determine the partnership's eligibility for the SBD or to calculate its SBD rate for the previous fiscal period.
If the corporation is making this election, use this keyword to enter the number of employee remunerated hours of the partnership for the previous fiscal period.
If the election applies and for purposes of Quebec form CO-771 line 07a, you must enter the keyword Hours-Employees and choose option "Total number of hours paid for employees in prior year".
The following options are applicable for the keyword Elect-CO771CH.
Use the keyword GrossRedBusLim to enter the grossed-up reduced business limit of the associated corporation for the year. Part I.3 tax payable in the immediately preceding taxation year if it exists, is needed to determine the reduced business limit for Canadian-controlled private corporations for the purposes of the federal small business deduction. Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Based on the amount entered under BusinessLim, DT Max will calculate the corporation's business limit for purposes of the small business deduction on federal schedule 23.
The maximum limit to be allocated between the corporations is $225,000 for 2003, $250,000 for 2004, $300,000 for 2005 and 2006 and $400,000 for 2007 and 2008 and $500,000 for 2009 and later.
Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 160 - Allocation of business limit
Line 410 - Business limit
See the CRA's general income tax guide:
Line 410 - Business limit
Based on the amount entered under Qc-BusLim, DT Max will calculate the corporation's business limit for purposes of the small business deduction on Quebec form CO-771.1.3.
The maximum limit to be allocated between the corporations is $500,000.
Use the keyword Type.re to indicate whether or not the associated corporation is a financial institution or an insurance corporation.
The following options are applicable for the keyword Type.re.
Use the keyword InsurCorp-PUC to enter the amount of paid-up capital from form CO-1140.A pertaining to the associated insurance corporation.
Use the keyword Invest-Allow.re to specify the type of asset in which the corporation has invested and for which it will be claiming an investment allowance.
The following options are applicable for the keyword Invest-Allow.re.
Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Election to identify the tax center of the associated corporation, if that corporation is the object of an election pursuant to subs. 256(2), whereby the third corporation chooses not to be an associated corporation for purposes of the sharing of the business limit.
Note that this election must be made for each of the relevant tax years, and that the third corporation is deemed not to be associated with the corporations in question. Its' business limit is deemed to be nil for that year.
Use the keyword Assoc-ExpLim to indicate whether or not the corporation is associated for purposes of the expenditure limit.
If there is no entry for this keyword, DT Max will assume that the corporation is associated for purposes of the expenditure limit.
The following options are applicable for the keyword Assoc-ExpLim.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 161 - Allocation of expenditure limit
Based on the ExpendLim entered, DT Max will calculate this corporation's expenditure limit for purposes of the SR&ED investment tax credit. Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 161 - Allocation of expenditure limit
Based on the AB-Expendlim entered, DT Max will calculate this corporation's expenditure limit for purposes of the SR&ED tax credit.
Based on the AB-EligExp.pa entered, DT Max will calculate this corporation's base amount for purposes of the IEG tax credit.
The following options are applicable for the keyword AB-EligExp.pa.
Indicate whether or not the related party is associated for purposes of the expenditure limit for the particular R&D tax credit.
If there is no entry in QC-EXPENDLIM, then DT Max will assume the corporation is associated for all R&D forms if Assoc-ExpLim is "yes" or if there is no entry for Assoc-ExpLim.
The following options are applicable for the keyword QC-Expendlim.
RD-1029.7 - expenditure limit allocation
RD-1029.7 - not associated for expenditure limit
RD-1029.8.6 - expenditure limit allocation
RD-1029.8.6 - not associated for expenditure limit
RD-1029.8.9.03 - expenditure limit allocation
RD-1029.8.9.03 - not associated for expenditure limit
RD-1029.8.16.1 - expenditure limit allocation
RD-1029.8.16.1 - not associated for expenditure limit
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Based on the Amount-Explim entered, DT Max will calculate this corporation's expenditure limit for purposes of the SR&ED tax credit.
Based on the OBRITC-ExpLim amount entered, DT Max will calculate the filing corporation's expenditure limit for purposes of the Ontario business-research institute tax credit. The amount to be allocated is a maximum of $20 million.
Based on the ON-Mfg-ExpLim amount entered, DT Max will calculate the filing corporation's expenditure limit for purposes of the Ontario made manufacturing investment tax credit. The amount to be allocated is a maximum of $20 million.
Use the keyword PUC-Prog-Ded to enter the percentage of the progressive deduction that has been allocated to the associated corporation.
For purposes of the progressive deduction, members of a group of associated corporations must, for their taxation year ending in the same calendar year, allocate among themselves a percentage of this deduction, the total of which may not exceed 100%. The allocation of the deduction is shown on Quebec form CO-1137.E titled "Agreement respecting the Progressive Deduction".
Use the keyword QC-ITC-Alloc to enter the portion of the $75,000,000 cumulative limit related to the investment tax credit allocated to the associated corporation.
Use the keyword QC-InvInno-Alloc to enter the portion of the $100,000,000 cumulative limit related to the investments and innovation tax credit allocated to the associated corporation.
The tax assistance relating to the tax holiday for manufacturing SME's in remote resource regions and the tax credit for processing activities in the resource regions a corporation may receive, for a taxation year beginning after December 31, 2009, may not exceed, in total, the amount obtained by adding a basic amount of $50,000 and an amount corresponding to 5% of the corporation's gross income attributable to the resource regions for the given taxation year.
Use the keyword QC-Assist-Alloc to enter the portion of the basic amount for calculating the limit on the tax assistance allocated to the associated corporation.
This information is needed for purposes of Quebec form CO-1029.8.36.RP.
Use the keyword Div-Allow to enter the amount of the dividend allowance allocated to the associated corporation.
Use the keyword PartVI1-Rel to enter the amount of part VI.1 tax transferred from the related corporation.
Use ActiveBusInc if this corporation is claiming the manufacturing and processing profits deduction and qualifies as a small manufacturer. Based on the ActiveBusInc entered, DT Max will calculate this corporation's qualifying active business income limit on schedule 27. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Prev-Yr-Begin to enter the previous tax year begin date of the related party.
Use the keyword Prev-Yr-End to enter the previous tax year-end of the related party.
Use the keyword Gross-Up-Tax to enter the grossed-up taxable income of the associated corporation for the preceding year. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Taxable-PS to enter the amount of non excluded dividends paid in the preceding calendar year by the associated corporation on taxable preferred shares.
Assets.re is used to determine if this corporation is subject to the Ontario Corporate Minimum Tax (CMT). If total assets of the associated group are equal to or more than $50 million, this corporation will be subject to CMT.
For Quebec, this keyword is used to determine which rate is used to calculate the tax credits. DT Max will determine this rate based on the information entered here and in the Prev-Yr-Assets keyword of all RelatedParty groups entered for associated corporations.
Tot-PrevYr-Assets is used to determine eligiblity for the credit.
Use the keyword PrevYr-Revenue to enter the total revenue for the previous tax year.
For Ontario, Tot-Revenue is used to determine if this corporation is subject to the Ontario Corporate Minimum Tax (CMT). If total revenue of the associated group is equal to or exceeds $100 million, this corporation will be subject to CMT. For Quebec, Tot-Revenue is used to determine eligibility for the Tax Credit for the Modernization of Tourism Accommodations (CO-1029.8.36.HE).
Use the keyword GrossRev.pa to enter the corporation's share of partnership total revenues for the preceding year.
Use the keyword Payroll.re to enter the total payroll of the related party.
Use the keyword PUC-PrevYr to enter the paid-up capital of this partnership for the previous year for the purposes of Quebec form CO-1029.8.36.IN.
Use the keyword Partner-Share to enter the associated corporation's share of the partnership's total assets and total revenues from thr previous year.
The following options are applicable for the keyword Partner-Share.
Use the keyword ExperienceWorker to indicate whether or not the associated corporation is entitled to the tax credit for SMBs to foster the retention of experienced workers.
The following options are applicable for the keyword ExperienceWorker.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Enter the name of the eligible employee or specified employee in respect of the employee for whom the associated corporation or associated partnerships are claiming the experienced worker tax credit.
The part of qualified expenditure or specified expenditure paid or allocated in the calendar year to that employee by the associated corporation or associated partnerships. This amount will appear on column D of CO-1029.8.33.TF part 3.
Use the keyword Job-Creation.re to indicate whether or not the associated corporation is entitled to the tax credit for job creation.
The following options are applicable for the keyword Job-Creation.re.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Use the keyword Payroll-Increase to enter amounts relating to the payroll increase of the associated corporation.
The following options are applicable for the keyword Payroll-Increase.
Targeted regions - all sectors of activity
Targeted regions - all sectors of activity in res. region
All of Quebec - all sectors of activity
All of Quebec - all sectors of activity in resource region
Use the keyword AllocPayroll.re to enter the amount of the payroll increase allocated to the associated corporation.
The following options are applicable for the keyword AllocPayroll.re.
Use the keyword CalendYr-Info.re to enter amounts relating to the calendar year in question in order to calculate the eligible salaries or wages and eligible amount.
The following options are applicable for the keyword CalendYr-Info.re.
Salaries and wages - same activity as business
Premiums/bonuses/overtime pay - same activity as business
Salaries entitling corp to other cr.- same act. as bus.
Wage de-indexation - same act. as business
Gov./non-government assist. - same activity as business
Salaries and wages - same activity as resource regions
Premiums/bonuses/overtime pay - same act. as resource reg.
Salary entitling corp to other cr.- same act. resource reg.
Wage de-indexation - same act. as resource regions
Gov./non-government assist.- same act. as resource regions
Use the keyword ReferYr-Info.re to enter amounts relating to the reference period in question in order to calculate the adjusted eligible salaries or wages and adjusted base amount.
The following options are applicable for the keyword ReferYr-Info.re.
Salaries and wages - same activity as business
Premiums/bonuses/overtime pay - same activity as business
Salaries entitling corp to other cr.- same act. as bus.
Gov./non-government assist. - same activity as business
Salaries and wages - same activity as resource regions
Premiums/bonuses/overtime pay - same act. as resource reg.
Salary entitling corp to other cr.- same act. resource reg.
Gov./non-government assist.- same act. as resource regions
For purposes of Quebec form CO-156.EN, corporations that are members of a group of associated corporations must agree to share the use of the regional cap on a percentage basis.
Use the keyword Transp-RegionCap to enter the regional cap for transportation costs of remote manufacturing SMEs allocated to the associated corporation.
Use the keyword Digital-Transform to allocate the annual limit for the tax credit for the digital transformation of print media companies.
The annual limit for the tax credit for the digital transformation of print media companies is $20,000,000 per taxation year.
For purposes of federal Schedule 311, corporations that are members of a group of associated corporations must agree to share the green technology tax credit limit on a percentage basis.
Use the keyword Green-Tech-NL to enter the percentage of the tax credit limit assigned to the associated corporation according to the agreement under subparagraph 41.2(2)(b)(ii).
Tot-Wages is used to determine the Saskatchewan resource surcharge deduction for small resource corporations. The maximum $2,500,000 deduction is prorated for the amount of wages and salaries paid to Saskatchewan employees by this corporation of total wages and salaries paid by the corporation and all of its associated corporations. Enter each associated corporation's current year salaries and wages in a separate RelatedParty group relevant to that corporation. This corporation's current year salaries and wages in each jurisdiction should be entered in the Alloc-Wages keyword in the relevant Jurisdiction group.
Use the keyword CDN-Resident to indicate whether the related party is a resident of Canada. This information will appear on the Quebec CO-17 return.
The following options are applicable for the keyword CDN-Resident.
Use the keyword QC-Resident to indicate whether the related party is a resident of Quebec. This information will appear on the Quebec CO-17 return.
The following options are applicable for the keyword QC-Resident.
Use the keyword OthProv-Resident to indicate whether the related party is a Canadian resident outside of Quebec. This information is needed on the Quebec form CO-771.1.3.
The following options are applicable for the keyword OthProv-Resident.
Use the keyword Tax-Capital to enter the amount from line 190 or 290, whichever applies, on Schedule 512, Ontario Special Additional Tax on Life Insurance Corporations (SAT).
The following options are applicable for the keyword Tax-Capital.
Tax. cap. employed in CA for resident life insur. - Sch 512
Tax. cap. employed in CA for NR life insurance - Sch 512
Tax. cap. employed in CA for res. life insur. - CO-1175.4
Tax. cap. employed in CA for NR life insurance - CO-1175.4
Use the keyword Capital-NL to enter the amount of capital of the related corporation for purposes of the Newfoundland and Labrador capital tax on financial institutions, schedules 305/306.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Use the keyword Capital-NS to enter the amount of capital of the related corporation for purposes of the Nova Scotia financial institutions capital tax, schedules 352/353.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 067 - Professional corporation
Line 150 - Related and associated corporations
Line 160 - Allocation of business limit
Line 161 - Allocation of expenditure limit
Line 207 - Investment income/active business income
Line 250 - Agreement - Part VI tax
See the CRA's general income tax guide:
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Use the keyword Cap-Alloc to enter the amount of the capital deduction for the year allocated to the related corporation.
Use the keyword CapAlloc-MB to enter the amount of the capital deduction for the year allocated to the associated corporation.
For a taxation year that begins before Jan 2, 2007, the capital deduction is $5,000,000. For a taxation year that begins after Jan 1, 2007, the capital deduction is $10,000,000.
Use the keyword CapAlloc-NS-5M to enter the amount of the $5,000,000 basic capital deduction for the year allocated to the related corporation.
Use the keyword CapAlloc-NS-30M to enter the amount of the $30,000,000 basic capital deduction for the year allocated to the related corporation. This is for a financial institution that is a trust company or a loan company with its registered office in Nova Scotia.
If the filing corporation is related to another bank or life insurer group member at the end of the year, the income deduction may be allocated among the related group members for all years that end in the same calendar year.
For a taxation year that ends after April 7, 2022, the income deduction is $100,000,000.
Use the keyword Income-Alloc to enter the amount of the income deduction for the year allocated to the related corporation for purposes of federal Schedule 68.
Use the keyword Signing-Asso to enter the signing date as well as the title of the signing officer for the related and/or associated corporation.
This information will appear on schedule 23/49 and corresponding provincial forms.
The following options are applicable for the keyword Signing-Asso.
Use this keyword to enter the amount of the qualified investment in the related financial institution.
Use this keyword to enter the percentage of business carried on in Québec by the related financial institution.
Use the keyword Member-Partner to indicate whether or not the partnership, whereby the corporation is a member, is a member of a partnership.
If "Yes" is selected, then enter Name-Partner.m with the relevant information pertaining to the eligible partnership.
The following options are applicable for the keyword Member-Partner.
Use the keyword Name-Partner.m to enter the name of the eligible partnership, whereby the partnership is a member.
This is the Québec enterprise number (NEQ) of the eligible partnership.
The partnership identification number entered in QC-PIN.m will appear on Quebec forms.
Enter the intermediary partnership's percentage interest in an eligible partnership in Member-Int%.m. Only the name of the eligible partnership then needs to be entered in the relevant keyword group to which the eligible partnership relates.
The beginning date of the eligible partnership entered in YearBegin.m is needed on Quebec R&D forms. Only the name of this eligible partnership then needs to be entered in the relevant keyword group to which the eligible partnership relates.
The year end of the eligible partnership entered in YearEnd.m will print on Quebec R&D forms. Only the name of this eligible partnership then needs to be entered in the relevant keyword group to which the eligible partnership relates.
Tot-PrevYrAssets.m is needed for purposes of Quebec forms.
Use the keyword PUC-PrevYr.m to enter the paid-up capital of the eligible partnership for the previous year for the purposes of Quebec form CO-1029.8.36.IN.
Use the keyword Payroll.m to enter the total payroll of the partnership.
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