  ITC / Deductions |
Enter all investment tax credit (ITC) carryforwards in the ITC-CF group. All ITC's entered will appear on schedule 31. DT Max will calculate on schedule 31 the ITC which can be deducted against taxes payable this year.
The following options are applicable for the keyword ITC-CF.
Apprenticeship job creation - ITC
Child care spaces - ITC
Pre-production mining - ITC
Qualified property and qualified resource property - ITC
SR&ED - ITC
 See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 231 - ITC
Line 652 - ITC
 See the CRA's general income tax guide:
Line 652 - Investment tax credit
This is the amount of the investment tax credit (ITC) to carry forward into the current year and earned in the particular year of reference entered here.
The following options are applicable for the keyword Amount-CF.it.
Current year
1st prior year
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Use the keyword ITC-Source to indicate the source of the investment tax credits.
The following options are applicable for the keyword ITC-Source.
Qualified property and qualified resource property
SR&ED expenditures
Pre-production mining exp.
Apprenticeship job creation
Child care spaces
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 231 - ITC
Line 652 - ITC
See the CRA's general income tax guide:
Line 652 - Investment tax credit
The total amounts entered in ITC-Trans.c will appear on schedule 31 as part of this corporation's ITC pool.
Enter this corporation's unclaimed ITC's in Amount-CF.it.
The following options are applicable for the keyword ITC-Trans.c.
Current year
1st prior year
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ITC-Adjust adjustments to ITC carried forward balances include ITC's acquired on an acquisition of control (other than amalgamations or wind-ups of subsidiaries) and adjustments resulting from tax assessments. Use this keyword to enter ITC's on repayments as well.
The following options are applicable for the keyword ITC-Adjust.
Current year
1st prior year
2nd prior year
3rd prior year
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Use ITCRefund to indicate whether the full investment tax credit (ITC) refund is to be claimed on schedule 31 and on the T2 return. This keyword should only be used if the option desired for this corporation differs from the option selected in your user default setup of DT Max.
The following options are applicable for the keyword ITCRefund.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 231 - ITC
Line 780 - ITC refund
See the CRA's general income tax guide:
Line 780 - Investment tax credit refund
Use ITC-CB to enter the total amount of the investment tax credit (ITC) earned this year to be carried back. DT Max will allocate the ITC carried back to the classes in which ITC-eligible additions were made. The ITC carried back will be claimed on the lower CCA rate classes first. This reduces the impact of the required reduction to the undepreciated capital cost in the amount of the ITC claimed; greater CCA claims will then be available to the higher CCA rate classes.
You can use ITC-CB-CCA in the CCA-Class group to specify the class to which the ITC carry back relates.
The following options are applicable for the keyword ITC-CB.
1st prior year
2nd prior year
3rd prior year
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 231 - ITC
Use ProvITC-CB here to carry back the provincial investment tax credits (ITC) earned.
The following options are applicable for the keyword ProvITC-CB.
Green tech. tax credit - Newfoundland & Labrador
M & P equipment ITC - P.E.I. The Prince Edward Island manufacturing and processing investment tax credit can be claimed on new manufacturing and processing equipment acquired after Dec.31/92. Enter the amount of eligible expenditures incurred this year in the ProvITCExp keyword in the relevant CCA-Class group. Any unused credits can be carried forward seven years and back three years. To override the amount of credit claimed, enter the override amount in the ProvITC-OV keyword related to this credit. Carryback requests should be made directly on Schedule 321 (T1092).
M & P equipment ITC - Newfoundland & Labrador
M & P equipment ITC - Manitoba
SR&ED ITC - British Columbia
SR&ED ITC - Manitoba The Manitoba research and development tax credit can be claimed on expenditures incurred after Mar.11/92. Calculate the credit on Schedule 380 (T1088). Enter the amount of eligible expenditures incurred this year in the ProvITCExp.r keyword in the relevant SR&ED group. Any unused credits can be carried forward seven years and back three years. To override the amount of made directly on Schedule 380 (T1088). Enter the amount to be carried back in the Amount-CB keyword in the ProvITC-CB group.
SR&ED - Ontario
SR&ED ITC - Sask. (non-refundable) before April 1, 2017
SR&ED ITC - Sask. (non-refundable) after March 31, 2017
Resort property ITC - NFLD & Lab.
Small business venture capital tax cr. - MB The small business venture capital tax credit is a non-refundable tax credit for corporations who invest directly in emerging enterprises.
The amount entered in Amount-CB will appear on the provincial tax credit form. DT Max will update any remaining credit carryforwards for the amount of the credit carried back.
The following options are applicable for the keyword Amount-CB.p.
1st prior year
2nd prior year
3rd prior year
Enter all provincial investment tax credit (ITC) carryforwards of a particular type in the ProvITC-CF group for that type.
The following options are applicable for the keyword ProvITC-CF.
Green tech. tax credit - Newfoundland & Labrador
M & P equipment ITC - P.E.I. The Prince Edward Island manufacturing and processing investment tax credit can be claimed on new manufacturing and processing equipment acquired after Dec.31/92. Enter the amount of eligible expenditures incurred this year in the ProvITCExp keyword in the relevant CCA-Class group. Any unused credits can be carried forward seven years and back three years. To override the amount of credit claimed, enter the override amount in the ProvITC-OV keyword related to this credit. Carryback requests should be made directly on Schedule 321 (T1092).
M & P equipment ITC - Newfoundland & Labrador
M & P equipment ITC - Manitoba
SR&ED ITC - British Columbia
SR&ED ITC - Manitoba The Manitoba research and development tax credit can be claimed on expenditures incurred after Mar.11/92. Calculate the credit on Schedule 380 (T1088). Enter the amount of eligible expenditures incurred this year in the ProvITCExp.r keyword in the relevant SR&ED group. Any unused credits can be carried forward seven years and back three years. To override the amount of made directly on Schedule 380 (T1088). Enter the amount to be carried back in the Amount-CB keyword in the ProvITC-CB group.
SR&ED - Ontario
SR&ED ITC - Sask. (non-refundable) before April 1, 2017
SR&ED ITC - Sask. (non-refundable) after March 31, 2017
Resort property ITC - NFLD & Lab.
Small business venture capital tax cr. - MB The small business venture capital tax credit is a non-refundable tax credit for corporations who invest directly in emerging enterprises.
Use BCITC-CF to enter the amount of the British Columbia ITC to carry forward into the current year. Specify the particular year in which it was earned.
The following options are applicable for the keyword BCITC-CF.
1st prior year
2nd prior year
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This is the amount of the PEI investment tax credit (ITC) to carry forward into the current year and earned in the particular year of reference entered here.
The following options are applicable for the keyword PEIITC-CF.
1st prior year
2nd prior year
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8th prior year
This is the amount of the NL investment tax credit (ITC) to carry forward into the current year and earned in the particular year of reference entered here.
The following options are applicable for the keyword NLITC-CF.
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This is the amount of the Manitoba investment tax credit (ITC) to carry forward into the current year and earned in the particular year of reference entered here.
The following options are applicable for the keyword ManITC-CF.
1st prior year
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This is the amount of the Ontario research and development tax credit (R&D) to carry forward into the current year and earned in the particular year of reference entered here.
The following options are applicable for the keyword OntR&D-CF.
1st prior year
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This is the amount of the Saskatchewan research and development tax credit to carry forward into the current year and earned in the particular year of reference entered here.
The following options are applicable for the keyword SaskR&D-CF.
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
The total amounts entered in CR-Trans will appear on the relevant line as part of this corporation's available credits.
The following options are applicable for the keyword CR-Trans.
1st prior year
2nd prior year
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Use Recapture to indicate that the corporation can claim a recapture from disposal of qualified expenditures for SR&ED.
The following options are applicable for the keyword Recapture.
Federal ITC - SR&ED
Federal ITC - Child care spaces
Alberta IEG credit
British Columbia SR&ED credit
New Brunswick SR&ED credit
Nova Scotia SR&ED credit
Ontario SR&ED credit
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 231 - ITC
Line 602 - Recapture of ITC
See the CRA's general income tax guide:
Line 602 - Recapture of investment tax credit (ITC)
Use the keyword Amount.r to enter the amount of recapture of the Alberta SR&ED tax credit.
The credit will appear on Alberta schedule 29.
Use Recap-Info to indicate that the corporation has a recapture and whether you transferred all or a portion of the qualified expenditures to another person under subsection 127(13).
The following options are applicable for the keyword Recap-Info.
No transfer of qualified expenditure
Transfer portion of qualified expenditure
Transfer all of qualified expenditure
Use SR&ED-Prop to indicate the rate and the acquisition cost of the qualified property that was acquired, for purposes of calculating the recapture.
The following options are applicable for the keyword SR&ED-Prop.
Use Disp-Value to indicate the proceeds of disposition of the qualified property if it was sold in an arm's length transaction, or the fair market value in any other case.
Use Transfer-Amt to enter the ITC rate that the transferee used in determining the qualified property's ITC, as well as its cost, for purposes of calculating the ITC recapture.
The following options are applicable for the keyword Transfer-Amt.
Use ITC-Partner to enter the corporate partner's share of the ITC of the partnership once the ITC has been reduced by the amount of the ITC recapture.
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Amount-CF.it