T691(Page 5) - fill out and auto calculate/complete form online

Protected B when completed

Part 3 – Regular net federal tax payable

Amount from line 68 on the previous page

Federal surtax on business income earned outside Canada
Multiply the amount from line 69 by 48%. If you have to pay provincial or territorial tax to multiple
jurisdictions, multiply the result by the percentage in Column 5 of line 52220 on Form T2203. In

either case, enter the result on this line.

Recapture of investment tax credit (from line 8 of Form T2038(IND))

Add lines 69 to 71.

Federal foreign tax credit from Form T2209

Federal logging tax credit

Line 73 plus line 74

►

–

Line 72 minus line 75 (if negative, enter "0")

Federal tax payable

Federal political contribution tax credit from line 41000 of your return

Investment tax credit from line H of Form T2038(IND)

Labour-sponsored funds tax credit from line 41400 of your return

Add lines 77 to 79.

►

–

Line 76 minus line 80 (if negative, enter "0")

Regular net federal tax payable

Part 4 – Special foreign tax credit

(i)

Foreign business income (total business income earned in the foreign
country minus allowable expenses and deductions for the foreign

income)

Foreign non-business income

(on which non-business income tax was paid to a foreign country ⁽¹³⁾)

Total foreign income: line 82 plus line 83 (if negative, enter "0")

Applicable rate

x 15%

Foreign income limit for special foreign tax credit.

Line 84 multiplied by 15% (if negative, enter "0").

(ii)

Total non-business income tax

paid to a foreign country ⁽¹³⁾

x 66.6666% =

Total business income tax paid to a foreign country ⁽¹⁴⁾

Foreign taxes paid for special foreign tax credit.

Line 87 plus line 88 (if negative, enter "0")

Enter whichever is less: amount from line 86 or line 89.

Enter whichever is more: amount from line 73 or line 90.

Special foreign tax credit

(13)

Non-business income tax paid to a foreign country (see note below)

Total of non-business income or profits tax you paid to that country or to a political subdivision of that country for the year, minus any part of this tax
that is deductible under subsection 20(11) or deducted under subsection 20(12) of the Act. Non-business income tax paid to a foreign country does
not include tax that can reasonably be attributed to an amount that:

•

any other person or partnership has received, or is entitled to receive from the foreign country

•

relates to taxable capital gains from that country, and you or your spouse or common-law partner claimed a capital gains deduction for that income

•

was deductible as income exempt from tax under a tax treaty between Canada and that country

•

was taxable in the foreign country because you were a citizen of that country, and relates to income from a source within Canada

Note

The Canada Revenue Agency considers that any amount of tax you paid to a foreign government in excess of the amount you had to pay according
to a tax treaty is a voluntary contribution and does not qualify as foreign taxes paid.

(14)

Business income tax paid to a foreign country (see note 1 below)

Total of business income or profits tax you paid to a country or a political subdivision of a country for the year (see note 2 below). It does not include
any part of the business income tax that can be reasonably attributed to an amount that any other person or partnership has received or is entitled to
receive from a country, or that was payable on income that was exempt from tax under a tax treaty between Canada and that country.

Note 1

Note 2

If you were a resident of Quebec, multiply this amount by 55%.

T691 E (23)

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