T2 Corporation - Federal Tax guide index by line numbers
T2 Corporation - Income Tax Guide - 2022
What's new
Before you start
Find out if you have to file a T2 return
How to file your return
When to file your return
Where to file your paper return
When and how to pay income tax
Penalties
Information reporting of tax avoidance transactions
After you file your return
When the CRA can reassess your return
How to file a formal dispute
Chapter 1 - Page 1 of the T2 return
Line 001 - Business number (BN)
Line 002 - Corporation's name
Lines 010 to 018 - Address of head office
Lines 020 to 028 - Mailing address
Lines 030 to 038 - Location of books and records
Lines 040 and 043 - Type of corporation at the end of the tax year
Lines 060, 061, 063, 065 - To which tax year does this return apply?
Line 066 - Is the date on line 061 a deemed tax year-end according to subsection 249(3.1)?
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Line 070 - Is this the first year of filing after incorporation?
Line 071 - Is this the first year of filing after amalgamation?
Line 072 - Has there been a wind-up of a subsidiary under section 88 during the current tax year?
Line 076 - Is this the final tax year before amalgamation?
Line 078 - Is this the final return up to dissolution?
Line 079 - If an election was made under section 261
Lines 080 to 082 - Is the corporation a resident of Canada?
Line 085 - If the corporation is exempt from tax under section 149
Line 002 - Corporation's name
Lines 010 to 018 - Address of head office
Lines 020 to 028 - Mailing address
Lines 030 to 038 - Location of books and records
Lines 040 and 043 - Type of corporation at the end of the tax year
Lines 060, 061, 063, 065 - To which tax year does this return apply?
Line 066 - Is the date on line 061 a deemed tax year-end according to subsection 249(3.1)?
Line 067 - Is the corporation a professional corporation that is a member of a partnership?
Line 070 - Is this the first year of filing after incorporation?
Line 071 - Is this the first year of filing after amalgamation?
Line 072 - Has there been a wind-up of a subsidiary under section 88 during the current tax year?
Line 076 - Is this the final tax year before amalgamation?
Line 078 - Is this the final return up to dissolution?
Line 079 - If an election was made under section 261
Lines 080 to 082 - Is the corporation a resident of Canada?
Line 085 - If the corporation is exempt from tax under section 149
Chapter 2 - Page 2 of the T2 return
Schedule 9, Related and Associated Corporations
Schedule 23, Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Business Limit
Schedule 49, Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit
Schedule 28, Election not to be Associated Through a Third Corporation
Schedule 19, Non-Resident Shareholder Information
Schedule 11, Transactions with Shareholders, Officers, or Employees
Schedule 44, Non-Arm's Length Transactions
Schedule 14, Miscellaneous Payments to Residents
Schedule 15, Deferred Income Plans
Form T5004, Claim for Tax Shelter Loss or Deduction
Information slip T5013, Statement of Partnership Income
Schedule 22, Non-Resident Discretionary Trust
Schedule 25, Investment in Foreign Affiliates
Schedule 29, Payments to Non-Residents
Form T106, Information Return of Non-Arm's Length Transactions with Non-Residents
Foreign property
Schedule 50, Shareholder Information
Line 172 - Has the corporation made payments to, or received amounts from, a retirement compensation arrangement in the year?
Line 180 - Schedule 88, Internet Business Activities
Line 180 - Schedule 88, Internet Business Activities
Chapter 3 - Page 3 of the T2 return
Line 270 - Did the corporation use the International Financial Reporting Standards (IFRS) when it prepared its financial statements?
Line 280 - Is the corporation inactive?
Lines 284 to 289 - Specify the principal products mined, manufactured, sold, constructed, or services provided, giving the approximate percentage of the total revenue that each product or service represents
Line 291 - Did the corporation immigrate to Canada during the tax year?
Line 292 - Did the corporation emigrate from Canada during the tax year?
Line 293 - Do you want to be considered as a quarterly instalment remitter, if you are eligible?
Line 294 - If the corporation was eligible to remit instalments on a quarterly basis for part of the tax year, provide the date the corporation ceased to be eligible
Line 295 - If the corporation's major business activity is construction, did you have any subcontractors during the tax year?
Line 280 - Is the corporation inactive?
Lines 284 to 289 - Specify the principal products mined, manufactured, sold, constructed, or services provided, giving the approximate percentage of the total revenue that each product or service represents
Line 291 - Did the corporation immigrate to Canada during the tax year?
Line 292 - Did the corporation emigrate from Canada during the tax year?
Line 293 - Do you want to be considered as a quarterly instalment remitter, if you are eligible?
Line 294 - If the corporation was eligible to remit instalments on a quarterly basis for part of the tax year, provide the date the corporation ceased to be eligible
Line 295 - If the corporation's major business activity is construction, did you have any subcontractors during the tax year?
Calculating net income or loss
Schedule 1, Net Income (Loss) for Income Tax Purposes
Schedule 6, Summary of Dispositions of Capital Property
Schedule 8, Capital Cost Allowance (CCA)
Schedule 12, Resource-Related Deductions
Schedule 13, Continuity of Reserves
Schedule 16, Patronage Dividend Deduction
Schedule 17, Credit Union Deductions
Form T661, Scientific Research and Experimental Development (SR&ED) Expenditures Claim
Losses
How to complete Schedule 4, Corporation Loss Continuity and Application
Taxable income
Line 300 - Net income or (loss) for income tax purposes
Lines 311 to 315
Line 311 - Charitable donations
Line 313 - Cultural gifts
Line 314 - Ecological gifts
Line 315 - Gifts of medicine
Line 320 - Taxable dividends deductible under section 112 or 113, or subsection 138(6)
Line 325 - Part VI.1 tax deduction
Line 331 - Non-capital losses of previous tax years
Line 332 - Net-capital losses of previous tax years
Line 333 - Restricted farm losses of previous tax years
Line 334 - Farm losses of previous tax years
Line 335 - Limited partnership losses of previous tax years
Line 340 - Taxable capital gains or taxable dividends allocated from a central credit union
Line 350 - Prospector's and grubstaker's shares
Line 352 - Employer deduction for non-qualified securities
Line 355 - Section 110.5 additions or subparagraph 115(1)(a)(vii) additions
Line 360 - Taxable income
Lines 311 to 315
Line 311 - Charitable donations
Line 313 - Cultural gifts
Line 314 - Ecological gifts
Line 315 - Gifts of medicine
Line 320 - Taxable dividends deductible under section 112 or 113, or subsection 138(6)
Line 325 - Part VI.1 tax deduction
Line 331 - Non-capital losses of previous tax years
Line 332 - Net-capital losses of previous tax years
Line 333 - Restricted farm losses of previous tax years
Line 334 - Farm losses of previous tax years
Line 335 - Limited partnership losses of previous tax years
Line 340 - Taxable capital gains or taxable dividends allocated from a central credit union
Line 350 - Prospector's and grubstaker's shares
Line 352 - Employer deduction for non-qualified securities
Line 355 - Section 110.5 additions or subparagraph 115(1)(a)(vii) additions
Line 360 - Taxable income
Chapter 4 - Page 4 of the T2 return
Small business deduction
Line 400 - Income from active business carried on in Canada
Line 405 - Taxable income for the SBD
Line 410 - Business limit
Line 426 - Reduced business limit
Line 430 - Small business deduction
Line 405 - Taxable income for the SBD
Line 410 - Business limit
Line 426 - Reduced business limit
Line 430 - Small business deduction
Chapter 5 - Page 5 of the T2 return
General tax reduction
Chapter 6 - Pages 6 and 7 of the T2 return
Chapter 7 - Page 8 of the T2 return
Line 550 - Base amount of Part I tax
Line 560 - Additional tax on personal services business income (section 123.5)
Line 565 - Additional tax on banks and life insurers
Line 602 - Recapture of investment tax credit (ITC)
Line 604 - Refundable tax on CCPC's investment income
Line 608 - Federal tax abatement
Line 616 - Manufacturing and processing profits deduction and zero-emission technology manufacturing deduction
Lines 620 and 624 - Investment corporation deduction
Line 632 - Federal foreign non-business income tax credit
Line 636 - Federal foreign business income tax credit
Lines 638 and 639 - General tax reduction
Line 640 - Federal logging tax credit
Line 641 - Eligible Canadian bank deduction under section 125.21
Line 648 - Federal qualifying environmental trust (QET) tax credit
Line 652 - Investment tax credit
Line 560 - Additional tax on personal services business income (section 123.5)
Line 565 - Additional tax on banks and life insurers
Line 602 - Recapture of investment tax credit (ITC)
Line 604 - Refundable tax on CCPC's investment income
Line 608 - Federal tax abatement
Line 616 - Manufacturing and processing profits deduction and zero-emission technology manufacturing deduction
Lines 620 and 624 - Investment corporation deduction
Line 632 - Federal foreign non-business income tax credit
Line 636 - Federal foreign business income tax credit
Lines 638 and 639 - General tax reduction
Line 640 - Federal logging tax credit
Line 641 - Eligible Canadian bank deduction under section 125.21
Line 648 - Federal qualifying environmental trust (QET) tax credit
Line 652 - Investment tax credit
Part I tax payable
Chapter 8 - Page 9 of the T2 return
Summary of tax and credits
Federal tax
Line 700 - Part I tax payable
Line 710 - Part III.1 tax payable
Line 712 - Part IV tax payable
Line 716 - Part IV.1 tax payable
Line 720 - Part VI tax payable
Line 724 - Part VI.1 tax payable
Line 725 - Part VI.2 tax payable
Line 727 - Part XIII.1 tax payable
Line 728 - Part XIV tax payable
Line 710 - Part III.1 tax payable
Line 712 - Part IV tax payable
Line 716 - Part IV.1 tax payable
Line 720 - Part VI tax payable
Line 724 - Part VI.1 tax payable
Line 725 - Part VI.2 tax payable
Line 727 - Part XIII.1 tax payable
Line 728 - Part XIV tax payable
Provincial and territorial tax
Line 750 - Provincial or territorial jurisdiction
Line 760 - Net provincial and territorial tax payable
Line 760 - Net provincial and territorial tax payable
Schedule 5, Tax Calculation Supplementary - Corporations
Newfoundland and Labrador
Prince Edward Island
Nova Scotia
New Brunswick
Ontario
Manitoba
Saskatchewan
British Columbia
Yukon
Northwest Territories
Nunavut
Other credits
Line 780 - Investment tax credit refund
Line 784 - Dividend refund
Line 788 - Federal capital gains refund
Line 792 - Federal qualifying environmental trust tax credit refund
Line 795 - Return of fuel charge proceeds to farmers tax credit
Line 796 - Canadian film or video production tax credit
Line 797 - Film or video production services tax credit
Line 798 - Canadian journalism labour tax credit
Line 799 - Air quality improvement tax credit
Lines 800 and 801 - Tax withheld at source
Line 808 - Provincial and territorial capital gains refund
Line 812 - Provincial and territorial refundable tax credits
Line 840 - Tax instalments paid
Line 784 - Dividend refund
Line 788 - Federal capital gains refund
Line 792 - Federal qualifying environmental trust tax credit refund
Line 795 - Return of fuel charge proceeds to farmers tax credit
Line 796 - Canadian film or video production tax credit
Line 797 - Film or video production services tax credit
Line 798 - Canadian journalism labour tax credit
Line 799 - Air quality improvement tax credit
Lines 800 and 801 - Tax withheld at source
Line 808 - Provincial and territorial capital gains refund
Line 812 - Provincial and territorial refundable tax credits
Line 840 - Tax instalments paid
Refund or payment
Line 894 - Refund code
Line 896 - If the corporation is a Canadian-controlled private corporation throughout the tax year, does it qualify for the one-month extension of the date the balance of tax is due?
Line 896 - If the corporation is a Canadian-controlled private corporation throughout the tax year, does it qualify for the one-month extension of the date the balance of tax is due?
Payment of balance owing
Direct deposit request
Mandatory electronic filing for tax preparers
Certification
Language of correspondence
Related forms and publications
Digital services
For more information