| Part 3 – Regular net federal tax payable | ||||||||||||||||||||
| Amount from line 65 on the previous page | 66 | |||||||||||||||||||
| Federal surtax on business income earned outside Canada: | ||||||||||||||||||||
| multiply the amount from line 66 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 5222 on Form T2203. In either case, enter the result on this line. | + | 67 | ||||||||||||||||||
| Recapture of investment tax credit (from line 8 of Form T2038(IND)) | + | 68 | ||||||||||||||||||
| Add lines 66 to 68. | = | 69 | ||||||||||||||||||
| Federal foreign tax credit from Form T2209 | 70 | |||||||||||||||||||
| Federal logging tax credit | + | 71 | ||||||||||||||||||
| Line 70 plus line 71 | = | ► | – | 72 | ||||||||||||||||
| Line 69 minus line 72 (if negative, enter "0") | Federal tax payable | = | 73 | |||||||||||||||||
| Federal political contribution tax credit from line 410 of your Schedule 1 | 74 | |||||||||||||||||||
| Investment tax credit from line H of Form T2038(IND) | + | 75 | ||||||||||||||||||
| Labour-sponsored funds tax credit from line 414 of your Schedule 1 | + | 76 | ||||||||||||||||||
| Add lines 74 to 76. | = | ► | – | 77 | ||||||||||||||||
| Line 73 minus line 77 (if negative, enter "0") | Regular net federal tax payable | = | 78 | |||||||||||||||||
| Part 4 – Special foreign tax credit | ||||||||||||||||||||
| Terms identified by the letters (a) and (e) are defined on Form T2209. | ||||||||||||||||||||
| (i) | Foreign business income (total business income earned in the foreign country minus | |||||||||||||||||||
| allowable expenses and deductions for the foreign income) | 79 | |||||||||||||||||||
| Foreign non-business income (on which non-business income tax was paid to a foreign | ||||||||||||||||||||
| country (a)) | + | 80 | ||||||||||||||||||
| Total foreign income | = | 81 | ||||||||||||||||||
| Applicable rate | x 15% | 82 | ||||||||||||||||||
| Foreign income limit for special foreign tax credit | = | 83 | ||||||||||||||||||
| (ii) | Total non-business income tax paid to a | |||||||||||||||||||
| foreign country (a) | x 66.6666% = | 84 | ||||||||||||||||||
| Total business income tax paid to a foreign country (e) | + | 85 | ||||||||||||||||||
| Foreign taxes paid for special foreign tax credit | = | 86 | ||||||||||||||||||
| Enter the amount from line 83 or line 86, whichever is less. | 87 | |||||||||||||||||||
| Enter the amount from line 70 or line 87, whichever is more. | Special foreign tax credit | 88 | ||||||||||||||||||
| Part 5 – Obligation to pay alternative minimum tax | ||||||||||||||||||||
| Minimum amount from line 58 | 89 | |||||||||||||||||||
| Special foreign tax credit from line 88 | – | 90 | ||||||||||||||||||
| Line 89 minus line 90 (if negative, enter "0") | Net minimum tax payable | = | 91 | |||||||||||||||||
| Regular net federal tax payable from line 78 | 92 | |||||||||||||||||||
| Federal surtax from line 67 | – | 93 | ||||||||||||||||||
| Line 92 minus line 93 (if negative, enter "0") | = | ► | – | 94 | ||||||||||||||||
| Line 91 minus line 94 (if negative, enter "0") | = | 95 | ||||||||||||||||||
| If line 95 is "0", you are not subject to alternative minimum tax. If you want to apply a minimum-tax carryover from previous years against your 2018 tax payable, complete Part 8 and attach a copy of this form to your return. Also, complete Schedule 1 and your return as usual. If the amount on line 95 is positive, complete parts 6 and 7. |
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