Line 640 - Federal logging tax credit
Line 640 - Federal logging tax credit
Corporations that have income from logging operations and have paid logging tax to the province of Quebec or British Columbia can claim this credit.
Complete Part 5 of Schedule 21, Federal and Provincial or Territorial Foreign Income Tax Credits and Federal Logging Tax Credit, to calculate this credit. On line 640, enter the credit you calculated on line 580 of Schedule 21 or a lesser amount.
References
Subsection 127(1)
Regulation 700
|
|
|