Lines 620 and 624 - Investment corporation deduction
Lines 620 and 624 - Investment corporation deduction
A Canadian public corporation that is an investment corporation, as defined in subsection 130(3), can claim a deduction from Part I tax that the corporation would otherwise have to pay. This deduction is equal to 20% of the taxable income for the year that is more than the taxed capital gains for the year.
On line 624, enter the investment corporation's taxed capital gains. On line 620, enter the amount of the deduction you are claiming.
Reference
Section 130
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