T2038 - fill out and auto calculate/complete form online

Protected B when completed

Part A – Calculating the current year refundable ITC

Scientific research and experimental development

ITC for qualified expenditures for SR&ED (amount from line 559 of
Form T661 plus applicable amount from box 41* of your T3 slip,

minus amounts from lines 67130 and 67135) . . . . . . . . . . . . . . . . . . . . . .

67120

x 0.15 =

80% of total contributions made to agricultural organizations

for SR&ED . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67130

x 0.15 =

ITC allocated from a partnership for SR&ED (see boxes 186, 187 and 189 of your T5013 slips) . . . . . . . . . . . .

67135

Qualified property

ITC for total investments in qualified property (include applicable

amount from box 41* of your T3 slip) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67140

x 0.10 =

Total current-year refundable credits (add amounts 1 to 4)

Enter amount A in column 2 in Part F . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

* Enter the amount from box 41 of your T3 slip as applicable, based on the code in box 43 in Guide T4013, T3 Trust Guide, and
the instructions provided in the statement by the trust.

Part B – Calculating the current-year non-refundable ITC

Mineral exploration tax credit (METC)

Total of your flow-through mining expenditures related to mineral
exploration tax credit (also referred to as renounced Canadian
exploration expenses) from the appropriate line in Part IV of
Form T1229, Statement of resource expenses and depletion

allowance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67170

x 0.15 =

For more information about METC, see page 2.

Critical mineral exploration tax credit (CMETC)

Total of your flow-through critical mineral mining expenditures related
to critical mineral exploration tax credit (also referred to as
renounced Canadian exploration expenses) from the appropriate line
in Part IV of Form T1229, Statement of resource expenses and

depletion allowance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67175

x 0.30 =

For more information about CMETC, see page 2.

Apprenticeship job creation tax credit (AJCTC)

If your apprentice works for you and also works for a related employer as defined under subsection 251(2) of the Act, all
related employers have to agree in writing that you are the only employer who will be claiming the apprenticeship job creation
tax credit for this tax year for each apprentice whose contract number, social insurance number (SIN), or name appears below.

For each apprentice in their first 24 months of the apprenticeship, enter the apprenticeship contract number registered with
Canada, or a province or territory of Canada, under an apprenticeship program designed to certify or license individuals in the
trade. If there is no contract number, enter the SIN or the name of the eligible apprentice. Then, enter the name of the eligible
trade and the eligible salary and wages* payable in the year in respect of employment after May 1, 2006. The credit is 10% of
the total of the amounts in Table 1, column 3. Attach a note if more space is needed.

Table 1 – Calculation of total Apprenticeship job creation tax credit

1
Contract number
(SIN or name of apprentice)

2
Name of eligible trade

3
The lesser of
eligible salary
and wages* payable
in the
year or $20,000.

Total apprenticeship job creation tax credit (Total of amounts in

column 3 plus applicable amount from box 40** of your T3 slip). . . .

67180

x 0.10 =

Total current-year non-refundable tax credits (add amounts B, C, and D)

Enter amount E at amount 3 in Part D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

* Net of any government or non-government assistance received or to be received in respect of eligible salary and wages.

** Enter the amount from box 40 of your T3 slip as applicable, based on the code in box 43 in Guide T4013, T3 Trust Guide, and
the instructions provided in the statement by the trust.

T2038(IND) E (23)

Page 5 of 9

Protected B when completed

Part C – Recapture

Recapture – ITC on SR&ED expenditures

Amount of expenditure on which ITC earned at 15% (after 2013) is
recaptured. Do not enter more than the amount of the

original expenditure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67193

x 0.15 =

Amount of expenditure on which ITC earned at 20% (before 2014) is
recaptured. Do not enter more than the amount of the

original expenditure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67195

x 0.20 =

Total recapture of investment tax credit on SR&ED expenditures (add amounts 1 and 2) . . . . . . . . . . . .

Recapture – ITC for child care spaces

If, at any time within 60 months of the day that you create a new child care space, that space is no longer available, or if the
property acquired for a child care space is leased for any purpose or converted to another use, we will recover the ITC for that
space or property.

If only child care spaces are disposed of, enter the amount originally claimed for those spaces . . . . . . . . .

If property other than child care spaces is disposed of, the amount will be the lesser of:

The amount originally claimed for ITC for the property disposed of . . . . . . . . . . . . .

25% of the proceeds of disposition of the eligible property

(or 25% of fair market value if disposed of to a non-arm's length party) . . . . . . . . .

Enter amount 5 or 6, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total recapture of investment tax credit for child care spaces (add amounts 4 and 7) . . . . . . . . . . . . . .

67197

Total recaptured credits (add amount 3 and the amount on line 67197)

Enter this amount on the Recapture of investment tax credit* line

of your income tax and benefit return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

* Line 128 for all provinces and territories, except Quebec and non-residents and deemed residents of Canada.

Line 132 for the federal Quebec returns.

Line 133 for the non-residents and deemed residents of Canada return.

For more information, see the Federal Income Tax and Benefit Guide.

T2038(IND) E (23)

Page 6 of 9

Protected B when completed

Part D – Calculating an allowable claim

ITC opening balance and carry forward from prior years (net of expired amounts). . . . . . . . . . . . . . . . . . . . . . . .

Current-year refundable tax credit (amount A in Part A) . . . . . . . . . . . . . . . . . . . . .

Current-year non-refundable tax credit (amount E in Part B) . . . . . . . . . . . . . . . . . . .

Subtotal (add amounts 2 and 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►

Amount 1 plus amount 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Adjustment for a graduated rate estate, enter the amount of ITC allocated to beneficiaries

from box 40 of your T3 slip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total available investment tax credit (amount 5 minus amount 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Federal tax (amount from line 40600 of your income tax and

benefit return) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Federal political contribution tax credit (amount from line 41000 of your income tax

and benefit return) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Subtotal (amount 7 minus amount 8, if negative, enter "0") . . . . . . . . . . . . . . .

Labour-sponsored funds tax credit (amount from line 41400 of your income tax

and benefit return) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Subtotal (amount 9 minus amount 10, if negative, enter "0") . . . . . . . . . . . . . . . .

►

Enter the lesser of amount F or G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If you have to complete Form T691, Alternative Minimum Tax and the amount you calculate on line 98 of Form T691 is
greater than "0", continue at amount 11.
If alternative minimum tax (AMT) does not apply to you, continue at amount 15.

Enter amount G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Federal foreign tax credit

(amount from line 40500 of your income tax and benefit return) . . . . . . . . . . . . . . .

Subtotal (add amounts 11 and 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The minimum amount from line 61 of Form T691 . . . . . . . . . . . . . . . . . . . . . . . .

Subtotal (amount 13 minus amount 14, if negative, enter "0") . . . . . . . . . . . . . .

►

Enter the lesser of amount F or I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enter your claim on this line:

You can claim an ITC up to, but not more than H or J, whichever applies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enter amount 15 on line 41200 of your income tax and benefit return, or on line 26 of Schedule 11, Federal Income Tax (T3
for Trusts).

T2038(IND) E (23)

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Protected B when completed

Part E – Calculating a carryback and refund of an ITC

Complete this section to determine the balance of credit available for carryback to previous tax years.

Total current-year credit available

Total available ITC (amount F in Part D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ITC opening balance and carry-forward from prior years (amount 1 in Part D) . . . .

Subtotal (amount 1 minus amount 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►

Maximum ITC you could have claimed in Part D

(amount H or J, whichever applies) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ITC opening balance and carry-forward from prior years (amount 1 in part D) . .

Subtotal (amount 4 minus amount 5, If negative enter "0") . . . . . . . . . . . . . . .

►

Total credit available for carryback (amount 3 minus amount 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Calculating a carryback and refund of an ITC

Complete this section to request a carryback of the ITC you earned in the current tax year. The carryback provisions allow
you to apply a current-year credit against the total of your federal tax for any of the three previous tax years. The credit you
apply to a previous year cannot be more than the total of your federal tax for that year.

You have to deduct any amount of the refundable ITC designated as a carryback when you calculate your ITC refund and the
balance to carry forward to tax years that follow.

To request a carryback, complete this section and attach this form to your current-year income tax and benefit return.

Note

We do not refund an amount you designate as a carryback in the current year. Do not enter the amount on your income tax
and benefit return.

The part of amount K to carryback for one or more of the following:

Third previous year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67200

•

Second previous year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67210

•

First previous year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

67220

•

Total credit designated for carryback (Add lines 67200, 67210, and 67220.

The total cannot be more than amount K) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Date (YYYYMMDD)

►

67240

Signature

Continue Part E on the next page

T2038(IND) E (23)

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Protected B when completed

Part E – Calculating a carryback and refund of an ITC (continued)

ITC available for refund

Complete this section to determine the balance of credit available for refund.

Current year refundable credit (amount A in Part A) . . . . . . . . . . . . . . . . . . . . . . . . .

Adjustment (amount 6 in Part D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total current-year refundable credit available

(amount 7 minus amount 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►

Current-year credit claim

Amount 15 from Part D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ITC opening balance and carry-forward from prior years (amount 1 in Part D) . .

Subtotal (amount 10 minus amount 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total credit designated for carryback (amount L in Part E) . . . . . . . . . . . . . . . . .

Subtotal (amount 12 plus amount 13). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Current-year non-refundable tax credit (Amount E in Part B) . . . . . . . . . . . . . . .

Total (amount 14 minus amount 15, if negative, enter "0") . . . . . . . . . . . . . . . .

►

Total credit available for refund (amount 9 minus amount 16) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Calculating an ITC refund

Complete this section to calculate a refund of ITC that you earned in the current year. You must deduct any amounts you
claim as a refund when you calculate the balance to carry forward to tax years that follow.

Amount you designate as a refund of ITC (cannot be more than amount M) . . . . . . . . . . . . . . . . . . . . . . . . . .

The refundable rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

0.40

Refund of ITC (multiply amount 17 by amount 18) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enter amount N on line 45400 of your income tax and benefit return or on line 88 of a Form T3RET, T3 Trust Income Tax and
Information Return.

Part F – Carryforward

Total ITC available (amount F in Part D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Current-year non-refundable tax credit claimed

in the year (amount 15 in Part D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total credit designated for carryback in the year (amount L in Part E) . . . . . .

Current-year ITC refund (amount N in Part E) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Subtotal (add amounts 2, 3 and 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

►

Total available amount and carryforward to subsequent tax year (amount 1 minus amount 5) . . . . . .

Personal information (including the SIN) is collected and used to administer or enforce the Income Tax Act and related programs and activities including
administering tax, benefits, audit, compliance, and collection. The information collected may be disclosed to other federal, provincial, territorial, aboriginal or
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Under the Privacy Act, individuals have a right of protection, access to and correction of their personal information, or to file a complaint with the Privacy
Commissioner of Canada regarding the handling of their personal information. Refer to Personal Information Bank CRA PPU 005 on Information about Programs
and Information Holdings at canada.ca/cra-information-about-programs.

T2038(IND) E (23)

Page 9 of 9