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Protected B when completed
Part 1 – Adjusted taxable income and minimum amount (continued)
 
Amount from line 83 of the previous page   84
Line 12000
of your
return     A
Line 12010
of your
return   B  x 13.0435% =    85
Amount A
minus
Amount B   = C  x 27.5362% =   +  86
Line 85 plus line 86   =  87
  Lifetime capital gains exemption:
Enter the amount from line 25400 of
  your return     x 40% =   +  88
  Line 87 plus line 88   =  89
Amount from
line 25395 of
your return      x 2 =    90
Amount from line 25395 of your return    91
Capital gains deduction on qualifying business  
transfer: line 90 minus line 91   = +  92
Line 89 plus line 92   = 93
Line 84 minus line 93 (if negative, enter "0") Adjusted taxable income   = 94
Basic exemption   95
Line 94 minus line 95 (if negative, enter "0") Net adjusted taxable income   = 96
 
If line 96 is "0", you are not subject to alternative minimum tax.
If you want to apply a minimum-tax carryover from previous years against your 2024 tax payable,
complete parts 2 and 8 and attach a copy of this form to your return. Also, complete your return as usual.
 
Federal tax rate   x                  20.5% 97
 
Gross minimum amount: line 96 multiplied by the percentage on line 97.   = 98
 
 
 
T691 E (24) Page 5 of 10

Protected B when completed
Part 1 – Adjusted taxable income and minimum amount (continued)
Gross minimum amount from line 98 of the previous page   99
Total non-refundable tax credits (line 35000 of your return)    100
Donations and gifts from line 34900 of your return    101
 
Line 100 minus line 101   =  102
 
Amount from line 102     x 50% =    103
 
Amount from line 101     x 80% =   +  104
 
Federal logging tax credit (line 138 of your return for residents of a province  
or territory other than Quebec, or line 142 for residents of Quebec)   +  105
 
Section 119 former resident credit   +  106
 
Add lines 103 to 106.   = 107
Line 99 minus line 107 (if negative, enter "0") Minimum amount   = 108
 
If line 108 is "0", you are not subject to alternative minimum tax.
If you want to apply a minimum-tax carryover from previous years against your 2024 tax payable,
complete parts 2 and 8 and attach a copy of this form to your return. Also, complete your return as usual.
 
Part 2 – Basic federal tax
 
Enter the amount from line 40400 of your return    1
Total non-refundable tax credits (line 35000 of your return)    2
Dividend tax credit (line 40425 of your return)   +  3
Line 2 plus line 3   =  4
Line 1 minus line 4 Tax payable before minimum tax carryover   =  5
Minimum tax carryover applied in 2024 from line 12 of Part 8    6
Line 5 minus line 6 Basic federal tax    =  7
 
Part 3 – Regular net federal tax payable
 
Amount from line 7 of Part 2    1
Federal surtax on business income earned outside Canada
  Multiply the amount from line 1 by 48%.    2
  If you have to pay tax to multiple jurisdictions, multiply the amount from
  line 2 by the percentage in Column 5 of line 52220 on Form T2203.    3
  If you have an amount on line 3, enter that amount. If not, and you are a non-resident or deemed
  resident, enter the amount from line 2. Otherwise, enter "0".   +  4
Recapture of investment tax credit (from line 8 of Form T2038(IND))   +  5
Add lines 1, 4, and 5.   =  6
Federal foreign tax credit from Form T2209    7
Federal logging tax credit   +  8
Line 7 plus line 8   =  9
Line 6 minus line 9 (if negative, enter "0") Federal tax payable    =  10
   
Federal political contribution tax credit from line 41000 of your return    11
Investment tax credit amount up to, but not more than the amount I of  
Form T2038(IND)   +  12
Labour-sponsored funds tax credit from line 41400 of your return   +  13
Add lines 11 to 13.   =  14
Line 10 minus line 14 (if negative, enter "0") Regular net federal tax payable    = 15
 
 
 
T691 E (24) Page 6 of 10