Line 300 - Net income or (loss) for income tax purposes
Line 300 - Net income or (loss) for income tax purposes
On line 300, enter the net income or loss for income tax purposes, as you calculated on Schedule 1. If you did not have to make any adjustments to the net income or loss from the financial statements or the General Index of Financial Information (GIFI), enter on line 300 the net income or loss from the income statement. Show the amount of any loss in brackets.
Note
On Schedule 1, do not deduct charitable donations,
taxable dividends, net capital losses, non-capital losses,
farm losses, or restricted farm losses from other years.
You have to deduct these items from net income for
income tax purposes to arrive at taxable income.
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