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Provincial and territorial taxSee What's new for a list of the major changes. You have to calculate and pay provincial and territorial income tax in addition to your federal income tax. Provinces and territories legislate their corporate income tax provisions, but the CRA administers them, except for Quebec, Ontario and Alberta. If the corporation has a permanent establishment in any province or territory other than those three, you have to calculate provincial and/or territorial income taxes and credits, as well as federal income taxes and credits, on the federal return. Corporations from all provinces and territories should verify first if they have to complete Schedule 5. See Do you have to complete Schedule 5? Generally, provinces and territories have dual tax rates. For information on the calculation of provincial and territorial credits, rebates and tax, see the following pages:
Note Reporting the tax and claiming the creditIf Schedule 5 is not required (and the provincial or territorial jurisdiction is not Ontario, Quebec or Alberta), enter the provincial or territorial tax on line 760 of the T2 Corporation Income Tax Return. If Schedule 5 is required ( and the provincial or territorial jurisdiction is not Ontario, Quebec or Alberta), enter the net amount of provincial and territorial tax payable or the net amount of refundable credits on line 255 of Schedule 5, Tax Calculation Supplementary - Corporations. When the amount at line 255 is positive, enter the net provincial or territorial tax payable on line 760 of the return. When the amount at line 255 is negative, enter the refundable provincial or territorial tax credit on line 812 of the return. Requested forms – Attach to the return the forms you completed to claim provincial or territorial credits or rebates, where requested. Forms and publications
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