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TaxOnCapital

If you choose "YES" in TaxOnCapital, DT Max will not calculate any tax on capital for this corporation. This keyword should be used if the corporation qualifies as an exempt corporation for purposes of Ontario, Quebec, Saskatchewan, and Manitoba, tax on capital. If you choose "NO" use TaxOnCapital to enter all information on taxable capital.

The following options are applicable for the keyword TaxOnCapital.

  • No

  • Yes

    • Secondary keywordReasonExempt

    ReasonExempt is requested on the Manitoba declaration of exemption from capital tax form if the corporation is exempt for reasons other than:

    
              i     taxable paid up capital is less than $1 000 000;

    
              ii    the corporation is a credit union
                    (CORPTYPE is "Credit union");

    
              iii   the corporation is a cooperative corporation
                    (CORPTYPE is "Cooperative corporation");

    
              iv    the corporation is a family farm corporation
                    (ACTIVITY is "Family farm corporation");

    
              v     the corporation is exempt under Fed ITA sect. 149(1)
                    (CORPTYPE is "Municipal or provincial corporation",
                    "Non profit organization" or "Tax exempt
                     (149(1)(e)/(l))".

    If one of the above applies, DT Max will automatically print an exemption form.

    Keyword in subgroupPartJVName.p

    Enter the name of the partnership or joint venture to which the corporation belongs here. The name should be entered in the same way as in the Name keyword in the RelatedParty group or the same partnership or joint venture. Enter the corporation's interest in the partnership or joint venture in the Member-Int% keyword in the RelatedParty group. DT Max will calculate the corporation's share of gross revenues and assets based on the % entered in Member-Int%.

    Secondary keyword in subgroupPartJVRev

    PartJVRev is used to determine if the corporation is subject to Ontario capital tax.

    Enter the corporation's interest in the partnership or joint venture in Member-Int% in the RelatedParty group related to the same partnership or joint venture. DT Max will calculate the corporation's share of gross revenues based on the % entered.

    If both gross revenues and total assets of the corporation (including its share related to partnerships or joint ventures) are $1 000 000 or less, no capital tax is payable.Enter the corporation's gross revenues in the GrossRevenue keyword in the NetIncome group.

    Secondary keyword in subgroupPartAsset.j

    PartAsset.j is used to determine if the corporation is subject to Ontario capital tax. The corporation's share of a partnership's or joint venture's total assets must be included in its total assets.

    If both total assets and gross revenues of the corporation (including its share related to partnerships or joint ventures) are $1 000 000 or less, no capital tax is payable. Enter the corporation's total assets in the ASSETS keyword in the TaxOnCapital group which relates to the corporation.

    For British Columbia, the total assets entered here will appear on schedule B of the B.C. capital tax return.

    Enter the corporation's interest in the partnership or joint venture in Member-Int% in the RelatedParty group related to the same partnership or joint venture. DT Max will calculate the corporation's share of total assets based on the % entered.

    Secondary keyword in subgroupProvision.j

    Use Provision.j to enter provisions or reserves which reduce taxable paid-up capital.

    The following options are applicable for the keyword Provision.j.

    Allowable provisions and reserves on taxable paid-up capital.

    Secondary keyword in subgroupAdjAssets.j

    Use AdjAssets.j to enter adjustments to the assets per the balance sheet which are required for purposes of the investment allowance calculation.

    The following options are applicable for the keyword AdjAssets.j.

    Items which are required adjustments to total assets on the provincial capital tax return's calculation of total assets.

    Secondary keywordPaidUpCap  ALT-J 

    Use PaidUpCap to enter all elements of taxable paid-up capital, included and excluded items, for tax on capital purposes.

    The following options are applicable for the keyword PaidUpCap.

    Items included or excluded in the calculation of paid-up capital for purposes of tax on capital.
  • Paid-up capital stock
    • This is the corporation's paid-up capital stock from its financial statements including any other participating interests in the nature of capital stock. Include premiums received on shares issued and deduct discounts not written off and any share subscriptions receivable.
  • Retained earnings (deficit)
    • Enter the corporation's retained earnings as a positive amount or its deficit as a negative amount.
  • Capital surplus (Fed/MB/SK)
    • Capital surpluses must be included in Manitoba, Saskatchewan paid-up capital.

    For Manitoba and Saskatchewan, the amount entered here will print in the surpluses section of the calculation of taxable capital.

  • Contributed surplus

  • Reserves not deducted in income for tax (Fed)
    • Enter the total amount of reserves which were not deducted in computing net income for tax purposes for the year. These reserves include provision for deferred taxes but do not include depreciation or depletion reserves.

    This amount will be added to capital for part I.3 tax purposes on line 101 of schedule 33.

  • Defer. unreal. foreign exch. gain (loss) (Fed)

  • Accumulated other comprehensive income (Fed)

  • Appraisal surplus (MB/SK)
    • Contributed and appraisal surpluses are separately identified in the Saskatchewan and Manitoba calculations of taxable capital in the surpluses section on page 2 of those capital tax returns.
  • Loans & advances (Fed)
    • Enter the total amount of loans and advances to be included.
  • Loans & advances from shareholders (MB)
    • Loans and advances from shareholders include cash advances and credits made directly or indirectly by shareholders or related persons. The amount entered here will print in the loans and advances section of the taxable paid-up capital calculation on page 2 of the Manitoba capital tax return.
  • Loans & advances from corporations (MB/SK)
    • Loans and advances from corporations entered here will print in the loans and advances section of the taxable paid-up capital calculations on page 2 of the Saskatchewan and Manitoba capital tax returns.
  • Loans & advances, shar. & related persons (SK)
    • Loans and advances from shareholders and related persons and related corporations entered here will print in the Loans and advances section of the taxable paid-up capital calculation on page 2 of the Saskatchewan capital tax return.
  • Loans & advances, pension & other trusts (SK)
    • Loans and advances from pensions and other trusts must be included in Saskatchewan paid-up capital effective April 1, 1992. The amount entered here will print in the Loans and advances section of the taxable paid-up capital calculation on page 2 of the Saskatchewan capital tax return.
  • Bonds & bond mortgages (MB/SK)

  • Debentures (MB/SK)
    • Bonds and bond mortgages and debentures are considered to be taxable for purposes of Saskatchewan and Manitoba capital tax. The amounts entered here will print in the loans and advances section of the taxable paid-up capital calculations on page 2 of the Saskatchewan and Manitoba capital tax returns.
  • Dividends declared & unpaid at year-end (Fed)
    • Enter the amount of any dividends declared but not paid by the corporation before the end of the year. This amount will be added to capital for part I.3 tax purposes on line 101 of schedule 33.
  • All other indebt. outstanding > 365 days (Fed/MB)
    • Enter the amount of all other indebtedness (other than in respect of a lease) of the corporation that has been outstanding for more than 365 days before the end of the year. This amount will be added to capital for part I.3 tax purposes on line 111 of schedule 33.
  • Share of partnership's capital (Fed)
    • Enter the corporation's share of capital in respect of a partnership of which the corporation is a member at the end of the year. This amount will be added to capital for part I.3 tax purposes on line 112 of schedule 33.
  • Deferred tax debit at year-end (Fed)
    • Enter the amount of the corporation's deferred tax debit balance, if any, at the end of the year. This amount will be deducted from capital for part I.3 tax purposes on schedule 33.
  • Patronage dividend deducted & in capital (Fed)
    • Enter the amount deducted for patronage dividends per federal ITA section 135(1)) from income for tax purposes, to the extent that the amount may reasonably be regarded as being included in any of the items entered which represent the corporation's capital for part I.3 purposes. This amount will be deducted from capital for part I.3 tax purposes on schedule 33.
  • Non res. corp.'s assets used in Cdn P.E. (Fed)
    • This is relevant only in the case of a non resident corporation. Enter the carrying value at the end of the year of assets used in carrying on any business through a permanent establishment (P.E.) in Canada during the year. This amount will be added to capital for part I.3 tax purposes on schedule 33.
  • Bonds & debentures payable (Fed)

  • Debts relating to finance of new vehicles (QC)

  • Debts guaranteed by corporation property (QC)
    • Debts guaranteed by corporation property, such as mortgages payable, must be included in taxable paid-up capital.
  • Bank loans & overdrafts
    • Bank loans and overdrafts should be included in taxable capital for Quebec.
  • Other loans & advances (Fed/QC)
    • Other loans and advances which are taxable for Quebec tax on capital purposes should be entered here.
  • Interest payable on debts (QC)
    • Interest payable on debts which is accrued interest in respect of debts, loans and advances which are included in Quebec taxable paid-up capital should be entered here.
  • Bank acceptances & similar securities (Fed/QC)
    • For taxation years ending after May 14, 1992, bank acceptances and similar securities which are issued for a term greater than six months must be included in Quebec taxable paid-up capital.
  • Expenses for issuing of shares, bonds (QC)
    • Expenses relating to the issue of shares or bonds during the taxation year must be deducted in the Quebec calculation of paid-up capital, if these fees have not been deducted from retained earnings or otherwise in the paid-up capital calculation.
  • Expenses acquisition/conversion of vessel (QC)

  • Ded. for finance of inv. of new vehicles (QC)

  • Mortgages payable (Fed/MB/SK)

  • Lien notes payable (Fed/MB/SK)

  • Indebtedness secured by property (MB)
    • Indebtedness represented by secured property must be included in Manitoba taxable capital. The amount entered here will print in the Indebtedness section of the taxable capital calculation on page 2 of the Manitoba capital tax return.
  • Amounts deducted for tax > per books (MB)

  • Deferred mining expl. & develop. exp. (MB/SK)

  • Other items (specify) (QC)
    • Enter other items which are not above here. The description entered will print beside the item on the return or on a separate schedule, if more than one other item is entered. Additions to paid-up capital should be entered as positive amounts and deductions as negative.
    Use [Alt-J] to enter different values for other jurisdictions.

    Secondary keywordOthSurplus  ALT-J 

    Use OthSurplus to enter other taxable surpluses which are not in the PaidUpCap keyword. Use [Alt-J] to enter different values for other jurisdictions.

    Secondary keywordOthDebt

    Use OthDebt to enter other taxable debts which are not in the PaidUpCap keyword.

    Secondary keywordMiningOpDed

    This is the deduction allowed from Quebec taxable paid-up capital for active mining corporations. See QTA Regulation 1137R1 for details on the calculation of this deduction. The amount entered here will print on line 333 on page 1 of the CO-1136.

    When such corporations are not yet in the production stage, they are exempt from tax on capital but must pay the minimum amount.

    Secondary keywordIntFinDed

    This is the deduction allowed from Quebec taxable paid-up capital for amounts prescribed with respect to an international finance center. The deduction will print on line 335 of the CO-1136 return.

    Secondary keywordAssistance.tc

    Use Assistance.tc to enter government or non-government assistance that has been received. Eligible costs for the acquisition or conversion of a vessel or acquisition of certain qualified property are reduced by the assistance.

    Secondary keywordProvision

    Use Provision to enter provisions or reserves which reduce taxable paid-up capital.

    The following options are applicable for the keyword Provision.

    Allowable provisions and reserves on taxable paid-up capital.
  • Special reserve per balance sheet
    • The special reserve as per the balance sheet includes:

    - reserves related to the sale of property in the course of the corporation's business in respect of unpaid amounts from the sale (see Fed ITA 20(1)(n));

    - reserves related to the sale of capital property in respect of proceeds not due until after the end of the year (see Fed ITA 40(1)(a)(iii));

    - reserves related to the sale of capital property in respect of proceeds not due until after the end of the year where a replacement property has been or will be acquired within the statutory period (see Fed ITA 44(1)(a)(iii));

  • Stocks / inventory
    • Stocks/inventory reserves are included in paid-up capital as follows:

    Quebec: The amount entered will appear on line 305 of the CO-1136.

    Ontario: The amount entered will form part of line 360 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

  • Investments
    • Investment reserves are included in paid-up capital as follows:

    Quebec: The amount entered will appear on line 306 of the CO-1136.

    Ontario: The amount entered will form part of line 360 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

  • Contingencies
    • Reserves for contingencies are included in paid-up capital as follows:

    Quebec: The amount entered will appear on line 306 of the CO-1136.

    Ontario: The amount entered will form part of line 360 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

  • Similar reserves
    • Reserves similar to the above are included in paid-up capital as follows:

    Ontario: The amount entered will form part of line 360 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

    Manitoba and Saskatchewan: The total of amounts entered for inventory, investment, contingency and similar reserves will print in the Reserves section of the paid up capital calculation on page 2 of the MCT1 and S.C.T. 1 returns.

  • Unqualified doubtful debts
    • The amount of the reserve deducted from income in respect of doubtful debts in excess of the allowable amount for tax purposes must be included in taxable capital for Quebec. The amount entered here will print in the provisions and reserves section of the paid-up capital calculation on page 3 of the CO-17 return.
  • Future inc. tax liab. (asset)
    • Future income tax liabilities should be entered as positive amounts and future income tax assets as negative amounts.
  • Reserves not deductible for tax
    • Reserves which are not deductible for tax are included in paid-up capital as follows:

    Ontario: The amount entered will form part of line 361 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

    Manitoba and Saskatchewan: The amount entered will print in the Reserves section of the MCT 1 and S.C.T. 1 returns.

  • Reserves not deducted from assets
    • Reserves which are not deducted from assets is the amount entered in the above provisions (lines 360 and 361 of CT-23 return) which were not deducted from assets.
  • Other (specify)
    • Enter description of other amounts.

    Secondary keywordEligInvest  ALT-J 

    Use EligInvest to enter eligible property or investments for purposes of the allowance or deduction from taxable paid-up capital.

    The following options are applicable for the keyword EligInvest.

    Allowable investments and other property eligible for the deduction from taxable paid-up capital.
  • Bank acceptances & similar sec
    • For taxation years ending after May 14, 1992,bank acceptances and similar securities are considered to be eligible property for purposes of the Quebec reduction for investments, loans and advances taken on paid-up capital.
  • Bonds & oth sec - govt, mun & school
    • Bonds and other securities of governments, municipalities and school districts are eligible investments in Ontario, Manitoba, and Saskatchewan. For Ontario, these securities qualify as eligible investments if they were issued and held for 120 days prior to year-end.
  • Debts secured by property O/S < six months
    • Enter debts resulting from the sale of goods or the rendering of services to another corporation. The debts must be secured in whole or in part by an asset of the other corporation, and must have been payable for six months or less. The amount entered will appear on line 353a of the C0-1136.
  • Debts secured by property O/S > six months
    • Enter debts resulting from the sale of goods or the rendering of services to another corporation. The debts must be secured in whole or in part by an asset of the other corporation, and must have been payable for more than six months. The amount entered will appear on line 353b of the C0-1136.
  • Dividends receivable from corps (sch. 33)
    • Enter the amount of dividends receivable from corporations at the end of the year. This amount will be added to the corporation's investment allowance for part I.3 tax purposes on line 405 of schedule 33.
  • Eligible acquisition costs (CO-17)
    • Enter eligible acquisition costs incurred before March 31, 2000 with respect to eligible property (computer hardware, M&P equipment, buildings used for M&P activities) that the corporation may claim as a deduction in the calculation of its paid-up capital. This amount will appear on line 337 of the CO-1136.
  • Industrial bonds & debentures
    • Industrial bonds and debentures are eligible investments in Manitoba, and Saskatchewan.
  • Interests in partnerships
    • Enter the carrying value at the end of the year of the corporation's interests in partnerships. For part I.3 tax purposes, the carrying value is deemed to be the corporation's share of each partnership's assets which are described in lines 401 to 405 of the investmemt allowance calculation on schedule 33 i.e. the first four items presented for the EligInvest keyword in the "Federal" TaxOnCapital group. This amount will be added to the corporation's investment allowance for part I.3 tax purposes on schedule 33.
  • Inv. in financial inst. not related to corp
    • Investments in a financial institution not related to the corporation are eligible investments/property in Quebec. This information will appear on line 358 of the CO-1136.
  • Loans & adv to partnership or JV's
    • Loans and advances to a partnership or joint venture are eligible property for Quebec to the extent that such amounts are included in the calculation of the paid-up capital of another corporation that has an interest in that partnership or joint venture. The amount entered will print on line 355 of the CO-1136.
  • Loans and advances related corps

  • Long-term debt of a financial instit
    • Enter the amount of long-term debt of a financial institution receivable of the corporation. This amount will be added to the corporation's investment allowance for part I.3 tax purposes on line 404 of schedule 33.
  • Mortgages receivable of other corps
    • Mortgages receivable from other corporations are eligible investments in Ontario, Manitoba, and Saskatchewan. For Ontario, mortgages due from capital tax-exempt corporations are not eligible.
  • NBV of tax-exempt ship/aircraft
    • Enter the net book value of a ship or aircraft of the corporation if the income related thereto is exempt for Federal income tax purposes (Fed ITA 81(1)(c)); this exemption applies if the non resident corporation operates a ship or aircraft in international traffic and its country of residence grants similar relief to Canadian operators.
  • Non res corp's debt re Cdn P.E.
    • This is relevant only if this is a non resident corporation. Enter the corporation's indebtedness at the end of the year that may reasonably be regarded as relating to a business it carried on during the year through a permament establishment (P.E.) in Canada. Do not include indebtedness which is part of corporate capital as defined in federal ITA sec. 181.2(3)(c) to (f). This amount will be deducted from the corporation's capital for part I.3 tax purposes on schedule 33.
  • Obligations of partnerships
    • Enter the corporation's share of the total amount of loans or advances to, bonds, debentures, notes, mortgages or similar obligations of partnerships of which the corporation was a member at the end of the year. Only include the obligations of partnerships all of whose members were, throughout the year, corporations (not financial institutions) that were not exempt from part I.3 tax (except due to federal ITA sec. 181.1(3)(d)). This amount will be added to the corporation's investment allowance for part I.3 tax purposes on schedule 33.
  • Other obligations of another corp
    • Enter the total amount of bonds, debentures, notes, mortgages or similar obligations due from other corporations, excluding financial institutions. This amount will be added to the corporation's investment allowance for part I.3 tax purposes on line 403 of schedule 33.
  • Trade A/R from corps O/S > 90 days
    • Trade accounts receivable are eligible investments for Manitoba, and Saskatchewan. These amounts reported as current assets on the corporation's balance sheet are considered to be eligible investments when they are outstanding for more than 90 days at year-end or the amount is part of a long-term debt receivable from another corporation.
  • Other - enter description
    • Use [Alt-J] to enter different values for other jurisdictions.

    Secondary keywordSharesOfCorps

    Use the keyword SharesOfCorps to enter the name of the issuing corporation and the amount of shares of other corporations.

    This information is used as a reduction from paid-up capital.

    DT Max will update this keyword with certain information entered in the balance sheet, in the GIFI group, if the user chooses to synchronize the GIFI group with the TaxOnCapital group.

    The amounts from the balance sheet are totals and, as such, are not distinguished for each issuing corporation. If a breakdown is required, you should manually adjust the amount for each issuing corporation.

    Secondary keywordBondsOfCorps

    Use the keyword BondsOfCorps to enter the name of the issuing corporation and the amount of bonds of other corporations.

    This information is used as a reduction from paid-up capital.

    Secondary keywordOth-Loans&Adv

    Use the keyword Oth-Loans&Adv to enter the name of the issuing corporation and the amount of other loans and advances to other corporations.

    This information is used as a reduction from paid-up capital.

    DT Max will update this keyword with certain information entered in the balance sheet, in the GIFI group, if the user chooses to synchronize the GIFI group with the TaxOnCapital group.

    The amounts from the balance sheet are totals and, as such, are not distinguished for each issuing corporation. If a breakdown is required, you should manually adjust the amount for each issuing corporation.

    Secondary keywordAssets

    Total assets of the corporation as at the year-end date is requested on page 1 of the Quebec CO-17 return.

    DT Max will also use the total assets entered here to calculate the reduction for eligible investments or property from taxable capital for Quebec,Ontario, Saskatchewan, Manitoba and British Columbia.

    For Ontario, the total amount of assets entered here affects whether the corporation is subject to capital tax or a flat amount of capital tax and whether it is subject to Ontario corporate minimum tax.

    In Quebec, if the corporation is inactive ( Activity is inactive), the total amount of assets affects whether the corporation is subject to the minimum amount or any tax on capital.

    Secondary keywordAdjAssets.pd

    Use AdjAssets.pd to enter adjustments to the assets per the balance sheet which are required for purposes of the investment allowance calculation.

    The following options are applicable for the keyword AdjAssets.pd.

    Items which are required adjustments to total assets on the provincial capital tax return's calculation of total assets.
  • Non ded. provision reducing assets
    • Enter the amount of any provisions, except depreciation and depletion (for Quebec), reducing assets on the balance sheet which are not deductible for tax purposes.
  • Mortgages reducing assets
    • Enter the amount of mortgages that were used to reduce the total assets and that must be included in the paid-up capital.
  • Liabilities reducing assets
    • Enter the amount of other liabilities that were used to reduce the total assets and that must be included in the paid-up capital.
  • Invest in partnership/joint venture
    • Investments in partnerships and joint ventures reduce the amount of total assets from the balance sheet; the corporation's share of such partnerships' and joint ventures' total assets is added to total assets.

    Enter the amount of each partnership's and joint venture's assets in a separate TaxOnCapital group related to that partnership or joint venture in the PartAsset.j keyword.

  • Deprec. & depletion in liabilities
    • Enter the amount of provisions for depreciation and depletion, if they are included in liabilities. This amount will be deducted from total assets according to the balance sheet.
  • Doubtful debts in liabilities
    • Enter the amount of the provision for doubtful debts included in the corporation's liabilities to the extent that the amount was deducted from income for tax purposes. This amount will be deducted from total assets according to the balance sheet.
  • NBV > UCC (depreciable assets)
    • Enter the amount by which the net book value of depreciable assets, excluding appraisals, exceeds the UCC of such assets for tax purposes. This amount will be deducted from total assets according to the balance sheet.
  • NBV > tax cost (deferred development)
    • Enter the amount by which the net book value of deferred development costs exceeds the amount of such costs for tax purposes. This amount will be deducted from total assets according to the balance sheet.
  • Curr. liab. (excl. A/P) non res corps
    • For non resident corporations, enter the amount of non capital current liabilities , excluding trade accounts payable to corporations outstanding for more than 90 days prior to the balance sheet date, related to Canada. This amount will reduce the total assets for purposes of the corporation's taxable capital.
  • Share of partnership/JV's assets
    • Enter the corporation's share of the assets of partnerships or joint ventures to which the corporation belongs. This amount will increase total assets from the balance sheet.
  • Other (specify)
    • Enter description for other amount.

    Secondary keywordPaidUpCapDed

    Use the keyword PaidUpCapDed to enter the type of eligible deduction from the calculation of paid-up capital.

    The following options are applicable for the keyword PaidUpCapDed.

    Deductions from net income for tax purposes, not otherwise provided for in any keywords.
  • Activity in a CDTI or a CNE (innovative project)

  • Deduction for an international financial centre

  • Deduction for manufacturing corporation
    • To reduce the tax burden on companies in the manufacturing sector, a deduction will be allowed to manufacturing corporations, in calculating their paid-up capital, enabling them to eliminate their tax on capital.
  • Major investment project

  • Securities company or securities clearing house

  • SME mfg businesses - remote resource regions

    • Secondary keywordElect-S1138.1

    Use the keyword Elect-S1138.1 to indicate whether the corporation elects under section 1138.1 not to be an associated third party for purposes of the $5,000,000 deduction from paid-up capital.

    Once this election is made, the corporation's deduction from paid-up capital for the year will be nil.

    The following options are applicable for the keyword Elect-S1138.1.

  • No

  • Yes

    • Secondary keywordGoodwill

    Use Goodwill to enter amounts eligible for the goodwill allowance on taxable paid-up capital. Goodwill allowance is allowed for Saskatchewan and Manitoba.

    The following options are applicable for the keyword Goodwill.

  • Goodwill

  • Patent rights

  • Copyrights

  • Trademarks

  • Other intang asset - enter descrip

    • Secondary keywordTaxableCap%

    If the percentage of taxable capital subject to tax on capital differs from the % of taxable income allocated to the province, use TaxableCap% to enter the % to be used. This is for non resident corporations only.

    Non resident corporations must generally calculate taxable paid-up capital as the amount of capital employed in Canada by the Canadian branch.

    Secondary keywordPAMP-OV

    Use the keyword PAMP-OV if you wish to override the PAMP (proportion of corporation's activities attributable to manufacturing and processing activities) calculated by DT Max.

    FirstYr-Info

    If this is the corporation's first taxation year, use FirstYr-Info to enter information at the beginning of the tax year.

    The following options are applicable for the keyword FirstYr-Info.

    Paid-up capital at the beginning of the tax year if this is the corporation's first tax year.
  • Beginning of taxation year

    • Secondary keywordPaidUpCap.f

    Use PaidUpCap.f to enter all elements of paid-up capital at the beginning of the tax year.

    The following options are applicable for the keyword PaidUpCap.f.

    Items included or excluded in the calculation of paid-up capital for purposes of tax on capital.
  • Paid-up capital stock
    • This is the corporation's paid-up capital stock from its financial statements including any other participating interests in the nature of capital stock. Include premiums received on shares issued and deduct discounts not written off and any share subscriptions receivable.
  • Retained earnings (deficit)
    • Enter the corporation's retained earnings as a positive amount or its deficit as a negative amount.
  • Contributed surplus

  • Debts relating to finance of new vehicles (QC)

  • Debts guaranteed by corporation property (QC)
    • Debts guaranteed by corporation property, such as mortgages payable, must be included in taxable paid-up capital.
  • Bank loans & overdrafts
    • Bank loans and overdrafts should be included in taxable capital for Quebec.
  • Other loans & advances (Fed/QC)
    • Other loans and advances which are taxable for Quebec tax on capital purposes should be entered here.
  • Interest payable on debts (QC)
    • Interest payable on debts which is accrued interest in respect of debts, loans and advances which are included in Quebec taxable paid-up capital should be entered here.
  • Bank acceptances & similar securities (Fed/QC)
    • For taxation years ending after May 14, 1992, bank acceptances and similar securities which are issued for a term greater than six months must be included in Quebec taxable paid-up capital.
  • Expenses for issuing of shares, bonds (QC)
    • Expenses relating to the issue of shares or bonds during the taxation year must be deducted in the Quebec calculation of paid-up capital, if these fees have not been deducted from retained earnings or otherwise in the paid-up capital calculation.
  • Expenses acquisition/conversion of vessel (QC)

  • Ded. for finance of inv. of new vehicles (QC)

  • Other items (specify) (QC)
    • Enter other items which are not above here. The description entered will print beside the item on the return or on a separate schedule, if more than one other item is entered. Additions to paid-up capital should be entered as positive amounts and deductions as negative.

    Secondary keywordOthSurplus.f

    Use OthSurplus.f to enter other surpluses at the beginning of the tax year which are not in the PaidUpCap.f keyword.

    Secondary keywordOthDebt.f

    Use OthDebt.f to enter other debts at the beginning of the tax year which are not in the PaidUpCap.f keyword.

    Secondary keywordMiningOpDed.f

    This is the deduction allowed from Quebec paid-up capital for active mining corporations. See QTA Regulation 1137R1 for details on the calculation of this deduction.

    Secondary keywordAssistance.f

    Use Assistance.f to enter government or non-government assistance that has been received. Eligible costs for the acquisition or conversion of a vessel or acquisition of certain qualified property are reduced by the assistance.

    Secondary keywordProvision.f

    Use Provision.f to enter provisions or reserves at the beginning of the tax year.

    The following options are applicable for the keyword Provision.f.

    Allowable provisions and reserves on taxable paid-up capital.
  • Stocks / inventory
    • Stocks/inventory reserves are included in paid-up capital as follows:

    Quebec: The amount entered will appear on line 305 of the CO-1136.

    Ontario: The amount entered will form part of line 360 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

  • Investments
    • Investment reserves are included in paid-up capital as follows:

    Quebec: The amount entered will appear on line 306 of the CO-1136.

    Ontario: The amount entered will form part of line 360 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

  • Contingencies
    • Reserves for contingencies are included in paid-up capital as follows:

    Quebec: The amount entered will appear on line 306 of the CO-1136.

    Ontario: The amount entered will form part of line 360 of the CT-23 return. DT Max assumes that the reserve was deducted from assets; the amount entered will be added to assets on line 440 of the CT-23 return.

  • Unqualified doubtful debts
    • The amount of the reserve deducted from income in respect of doubtful debts in excess of the allowable amount for tax purposes must be included in taxable capital for Quebec. The amount entered here will print in the provisions and reserves section of the paid-up capital calculation on page 3 of the CO-17 return.
  • Future inc. tax liab. (asset)
    • Future income tax liabilities should be entered as positive amounts and future income tax assets as negative amounts.
  • Other (specify)
    • Enter description of other amounts.

    Secondary keywordEligInvest.f

    Use EligInvest.f to enter eligible property or investments at the beginning of the tax year for purposes of the allowance or deduction from paid-up capital.

    The following options are applicable for the keyword EligInvest.f.

    Allowable investments and other property eligible for the deduction from taxable paid-up capital.
  • Bank acceptances & similar sec
    • For taxation years ending after May 14, 1992,bank acceptances and similar securities are considered to be eligible property for purposes of the Quebec reduction for investments, loans and advances taken on paid-up capital.
  • Debts secured by property O/S < six months
    • Enter debts resulting from the sale of goods or the rendering of services to another corporation. The debts must be secured in whole or in part by an asset of the other corporation, and must have been payable for six months or less. The amount entered will appear on line 353a of the C0-1136.
  • Debts secured by property O/S > six months
    • Enter debts resulting from the sale of goods or the rendering of services to another corporation. The debts must be secured in whole or in part by an asset of the other corporation, and must have been payable for more than six months. The amount entered will appear on line 353b of the C0-1136.
  • Eligible acquisition costs (CO-17)
    • Enter eligible acquisition costs incurred before March 31, 2000 with respect to eligible property (computer hardware, M&P equipment, buildings used for M&P activities) that the corporation may claim as a deduction in the calculation of its paid-up capital. This amount will appear on line 337 of the CO-1136.
  • Inv. in financial inst. not related to corp
    • Investments in a financial institution not related to the corporation are eligible investments/property in Quebec. This information will appear on line 358 of the CO-1136.
  • Loans & adv to partnership or JV's
    • Loans and advances to a partnership or joint venture are eligible property for Quebec to the extent that such amounts are included in the calculation of the paid-up capital of another corporation that has an interest in that partnership or joint venture. The amount entered will print on line 355 of the CO-1136.
  • Other - enter description

    • Secondary keywordSharesOfCorps.f

    Use the keyword SharesOfCorps.f to enter the name of the issuing corporation and the amount of shares of other corporations at the beginning of the tax year.

    This information is used as a reduction from paid-up capital.

    Secondary keywordBondsOfCorps.f

    Use the keyword BondsOfCorps.f to enter the name of the issuing corporation and the amount of bonds of other corporations at the beginning of the tax year.

    This information is used as a reduction from paid-up capital.

    Secondary keywordOth-Loans&Adv.f

    Use the keyword Oth-Loans&Adv.f to enter the name of the issuing corporation and the amount of other loans and advances to other corporations at the beginning of the tax year.

    This information is used as a reduction from paid-up capital.

    Secondary keywordAssets.f

    Total assets of the corporation at the beginning of the tax year.

    Secondary keywordAdjAssets.f

    Use AdjAssets.f to enter adjustments to the assets at the beginning of the tax year.

    The following options are applicable for the keyword AdjAssets.f.

    Items which are required adjustments to total assets on the provincial capital tax return's calculation of total assets.
  • Non ded. provision reducing assets
    • Enter the amount of any provisions, except depreciation and depletion (for Quebec), reducing assets on the balance sheet which are not deductible for tax purposes.
  • Mortgages reducing assets
    • Enter the amount of mortgages that were used to reduce the total assets and that must be included in the paid-up capital.
  • Liabilities reducing assets
    • Enter the amount of other liabilities that were used to reduce the total assets and that must be included in the paid-up capital.
  • Deprec. & depletion in liabilities
    • Enter the amount of provisions for depreciation and depletion, if they are included in liabilities. This amount will be deducted from total assets according to the balance sheet.
  • Doubtful debts in liabilities
    • Enter the amount of the provision for doubtful debts included in the corporation's liabilities to the extent that the amount was deducted from income for tax purposes. This amount will be deducted from total assets according to the balance sheet.
  • Other (specify)
    • Enter description for other amount.

    Secondary keywordPaidUpCapDed.f

    Use the keyword PaidUpCapDed.f to enter the type of eligible deduction from the calculation of paid-up capital at the beginning of the tax year..

    The following options are applicable for the keyword PaidUpCapDed.f.

    Deductions from net income for tax purposes, not otherwise provided for in any keywords.
  • Activity in a CDTI or a CNE (innovative project)

  • Deduction for an international financial centre

  • Deduction for manufacturing corporation
    • To reduce the tax burden on companies in the manufacturing sector, a deduction will be allowed to manufacturing corporations, in calculating their paid-up capital, enabling them to eliminate their tax on capital.
  • Farming/fishing business

  • Major investment project

  • Securities company or securities clearing house

  • SME mfg businesses - remote resource regions

    • LCTCrLim

    Use LCTCrLim to limit the amount of part I.3 tax credits claimed. DT Max will claim the lesser of the limit entered, credits available from prior taxation years and the maximum amount allowable.

    The following options are applicable for the keyword LCTCrLim.

  • Client corporation

  • Predecessor corporation

    • SurtaxCrLim

    Use SurtaxCrLim to limit the amount of surtax credits claimed. DT Max will claim the lesser of the limit entered, credits available from prior taxation years and the maximum amount allowable.

    The following options are applicable for the keyword SurtaxCrLim.

  • Client corp. (period before July 1/06)

  • Predecessor corp. (period before July 1/06)

  • Client corp. (period after June 30/06)

  • Predecessor corp. (period after June 30/06)

    • PartVICrLim

    Use PartVICrLim to limit the amount of part VI tax credits claimed. DT Max will claim the lesser of the limit entered, credits available from prior taxation years and the maximum amount allowable.

    The following options are applicable for the keyword PartVICrLim.

  • Client corporation

  • Predecessor corporation

  • Client corp. (period before July 1/06)

  • Predecessor corp. (period before July 1/06)

  • Client corp. (period after June 30/06)

  • Predecessor corp. (period after June 30/06)

    • PartICrLim

    Use PartICrLim to limit the amount of Part I tax credits claimed. DT Max will claim the lesser of the limit entered, credits available from prior taxation years and the maximum amount allowable.

    The following options are applicable for the keyword PartICrLim.

  • Client corp. (period before July 1/06)

  • Predecessor corp. (period before July 1/06)

  • Client corp. (period after June 30/06)

  • Predecessor corp. (period after June 30/06)

    • LCTCr-CF

    Use LCTCr-CF if the corporation has part I.3, part VI, part I, and/or surtax credit carryover balances from prior taxation years.

    DT Max will optimize credits claimed by claiming older credits first while claiming credits originating from predecessor corporations before those from this corporation. You can still limit the amount of credits claimed from the corporation or predecessor corporations with the LCTCrLim, SurtaxCrLim, PartVICrLim, and PARTICRLIM keywords. If no limit is entered, DT Max will claim the lesser of the credits available and the maximum credit calculated.

    The following options are applicable for the keyword LCTCr-CF.

    Options available for entering tax credits.
  • LCT & surtax cr - corporation
    • DT Max keeps track separately of LCT and surtax credits belonging to the corporation and those which were transferred from predecessor corporations on an amalgamation between corporation or wind-up of a subsidiary into its parent corporation. Schedule 37 (T962): Unused part I.3 and surtax credits requests this classification.
  • LCT & surtax cr transf on amalg/windup

  • Part I tax credit - corporation
    • DT Max keeps track separately part I tax credits belonging to the corporation and those which were transferred from predecessor corporations on an amalgamation between corporation or wind-up of a subsidiary into its parent corporation. Schedule 42 (T921) requests this classification.
  • Part I tax credit - amalg/windup

    • Secondary keywordSurtaxCr-CF

    Use SurtaxCr-CF to enter unused surtax credit carryover balances from taxation years ending after 1991.

    There are 7 prior year options for the keyword SurtaxCr-CF.

    The following options are applicable for the keyword SurtaxCr-CF.

    Prior years relevant to carryforwards available and other historical items.
  • 1st prior year

  • 2nd prior year

  • 3rd prior year

  • 4th prior year

  • 5th prior year

  • 6th prior year

  • 7th prior year

    • Secondary keywordPartICr-CF

    Use PartICr-CF to enter unused Part I tax credit carryover balances from taxation years ending before 1992.

    There are 7 prior year options for the keyword PartICr-CF.

    The following options are applicable for the keyword PartICr-CF.

    Prior years relevant to carryforwards available and other historical items.
  • 1st prior year

  • 2nd prior year

  • 3rd prior year

  • 4th prior year

  • 5th prior year

  • 6th prior year

  • 7th prior year

    • SurtaxCr-CB

    Use SurtaxCr-CB if you wish to carryback the unused current year surtax credit against either Part I.3 tax or PART VI tax.

    The following options are applicable for the keyword SurtaxCr-CB.

    Carryback of unused surtax credit and applied against Part I.3 tax/Part VI tax.
  • Applied against Part I.3 tax

  • Applied against Part VI tax

    • Secondary keywordAmount.su

    Use Amount.su to indicate the tax year to which the unused current year surtax credit is to be applied and the amount that is being carried back against Part I.3 tax or Part VI tax.

    There are 3 prior year options for the keyword Amount.su.

    The following options are applicable for the keyword Amount.su.

    Prior years relevant to carryforwards available and other historical items.
  • 1st prior year

  • 2nd prior year

  • 3rd prior year

    • PartICR-CB

    Use PartICR-CB to specify the amount of part I tax credit to be carried back to taxation years ending after 1991.

    There are 3 prior year options for the keyword PartICR-CB.

    The following options are applicable for the keyword PartICR-CB.

    Prior years relevant to carryforwards available and other historical items.
  • 1st prior year

  • 2nd prior year

  • 3rd prior year

    • Part-I3-Inst

    Use the keyword Part-I3-Inst to specify the type of financial institution that is subject to part I.3 tax and/or part VI tax. A part I.3 tax return should be filed by financial institutions and insurance corporations that have part I.3 tax payable before the deduction for surtax credits.

    The following options are applicable for the keyword Part-I3-Inst.

    Types of corporations subject to part I.3 and part VI taxes
  • Can. resident corporation - life insurance

  • Can. resident corporation - other insurance

  • Non resident corporation - life insurance

  • Non resident corporation - other insurance

  • Large financial institution
    • Large financial institutions include banks, trust companies and life insurance companies (ITA subs. 190(1)).
  • Authorized foreign bank - schedule 34

    • Secondary keywordDepTaking-Inst

    Use the keyword DepTaking-Inst to indicate whether or not the corporation is a deposit-taking institution or related to a deposit-taking institution in the tax year. This information is needed for purposes of federal schedule 514.

    The following options are applicable for the keyword DepTaking-Inst.

    Jurisdiction of incorporation, continuation or amalgamation.
  • Corp is a deposit-taking institution and not related to one

  • Corp is a deposit-taking institution and is related to one

  • Corp is not a deposit-taking institution but related to one

  • Corp is not a deposit-taking institution nor related to one

    • Secondary keywordTaxable-Cap

    Use the keyword Taxable-Cap to specify the type and amount of capital that will be included in the calculation of taxable capital.

    The following options are applicable for the keyword Taxable-Cap.

    Types of taxable capital
  • Long-term debts

  • Capital stock/members' contributions

  • Retained earnings/deficit

  • Contributed surplus

  • Any other surplus

  • Deferred tax debit balance

  • Reserves not deducted from part I income

  • Deferred acquisition expenses
    • Total amount of the corporation's deferred acquisition expenses in respect of its property and casualty insurance business.
  • Deduction per subs. 130.1(1) or 137(2)

  • 10% of bank's risk-weighted assets and exposures

  • Deduction from the bank's capital

  • Tangible property - non segregated
    • Total tangible property used in Canada by the financial institution. This does not include property held by the institution primarily for the purpose of resale that was acquired by the financial institution, in the year or the preceding year, as a consequence of another person's default or anticipated default in respect of a debt owed to the institution.
  • Tangible property - partnership
    • The insurance corporation's proportional interest in a partnership's tangible property used in Canada.
  • Accumulated other comprehensive income

  • Deductible SR&ED expenditures
    • Any amount, except to the extent that it has been deducted by the financial institution in computing its income under Part II of the Corporations Tax Act or Division B of this Part for the year or any previous taxation year, that is deductible by the financial institution by reason of the application of subsection 37(1) of the Federal Act in respect of scientific research and experimental development.

    Secondary keywordNR-Ins-Corp

    Use the keyword NR-Ins-Corp to specify the type and amount of capital that will be included in the calculation of taxable capital for the non resident insurance corporation.

    The following options are applicable for the keyword NR-Ins-Corp.

    Types of capital of non resident insurance corporation
  • Proportion of surplus funds - operations

  • Attributed surplus

  • Other surpluses - insurance businesses

  • Long-term debts - insurance businesses

  • Reserves - insurance businesses
    • Reserves for the year (other than reserves for amounts payable out of segregated funds) that may reasonably be regarded as having been established in respect of insurance businesses carried on in Canada.
  • Other reserves - non subparagraph 138(3)(a)(i)

  • Other reserves - subparagraph 138(3)(a)(i)

  • Policy loan outstanding - subsection 138(12)

  • Deferred acquisition expenses
    • Corporation's deferred acquisition expenses in respect of its property and casualty insurance business.
  • Surplus funds derived from operations (part VI)

    • Secondary keywordInvest-Allow  ALT-J 

    Use the keyword Invest-Allow to specify the type of asset in which the corporation has invested and for which it will be claiming an investment allowance. Assets of related financial institutions are included.

    The following options are applicable for the keyword Invest-Allow.

    Types of assets qualifying for an investment allowance.
  • Capital stock

  • Long-term debts

  • Surplus
    • Amount of any surplus of the related institutions contributed by the corporation and not reflected in the carrying value of shares and long-term debts.
    Use [Alt-J] to enter different values for other jurisdictions.

    Secondary keywordFin-Assets

    Use the keyword Fin-Assets to enter the value of Canadian assets and of total assets, as defined in ITR section 8600.

    The following options are applicable for the keyword Fin-Assets.

    Breakdown of assets pursuant to ITR section 8600
  • Total assets - section 8600 ITR

  • Canadian assets - section 8600 ITR

    • Secondary keywordIns-Premiums

    Use the keyword Ins-Premiums to enter the value of Canadian insurance premiums and of total insurance premiums.

    The following options are applicable for the keyword Ins-Premiums.

    Breakdown of insurance premiums
  • Total premiums

  • Canadian premiums

    • Secondary keywordReserve-Liab

    Use the keyword Reserve-Liab to enter the value of Canadian reserve liabilities and of total reserve liabilities.

    The following options are applicable for the keyword Reserve-Liab.

    Breakdown of reserve liabilities
  • Total reserve liabilities

  • Canadian reserve liabilities

    • Keyword in subgroupFor-Ins-Sub

    Use the keyword For-Ins-Sub to enter the name of the foreign insurance corporation that is a subsidiary of the Canadian resident corporation that carried on a life insurance business.

    Secondary keyword in subgroupCap-Sub

    Use the keyword Cap-Sub to enter the type and amount of capital that will constitute taxable capital of the foreign insurance subsidiary.

    The following options are applicable for the keyword Cap-Sub.

    Types of taxable capital

    Secondary keyword in subgroupInvest-Sub

    Use the keyword Invest-Sub to specify the source and amount of the investment in the foreign insurance subsidiary.

    The following options are applicable for the keyword Invest-Sub.

    Sources of investment in foreign insurance subsidiary.

    Secondary keyword in subgroupLiab-Sub

    Use the keyword Liab-Sub to enter the amount of reserve liabilities of the subsidiary pursuant to subsection 8605(3) of the ITR.

    Secondary keywordLife-Insurer

    Use the keyword Life-Insurer to specify the type and amount of capital that will be included in the calculation of taxable capital for the life insurer.

    The following options are applicable for the keyword Life-Insurer.

    Components used for purposes of calculating the tax on capital of life insurers
  • Capital of life insurer

  • Capital of foreign insurance subsidiaries

  • Total reserve liabilities

  • Total reserve liabilities - foreign subsidiaries

  • Canadian reserve liabilities

  • Reserves of life insurer

  • Reserves of segregated fund

  • Reserves (ITA, part I tax)

  • Reserves (ITA par. 840 a))

  • Unpaid policy loan amounts including interest

    • Secondary keywordLife-Ins-Ded

    Use the keyword Life-Ins-Ded to enter the amount of deduction applicable to a major investment project.

    This information is used to calculate the amount of tax on capital for life insurers on Quebec form CO-1175.4.

    Secondary keywordLife-Agree

    Use the keyword Life-Agree to enter the amount of capital allowance agreed upon to be claimed by the filing corporation. You are required to complete schedule CO-1175.13 manually and enclose the agreement with the corporate tax return.

    Secondary keywordLife-Bus

    Use the keyword Life-Bus to indicate how much life insurance business was carried on in Quebec and in the rest of Canada.

    The following options are applicable for the keyword Life-Bus.

    Volume of life insurance business carried on in Canada
  • Carried on in Canada

  • Carried on in Canada (excluding Quebec)

    • Special-Tax

    Use the keyword Special-Tax to specify the type of special tax the corporation is subject to for Quebec corporate tax purposes.

    The following options are applicable for the keyword Special-Tax.

    Types of special Quebec taxes with corresponding code numbers
  • 01 Quebec film productions

  • 02 Qual. non guaranteed convertible security

  • 03 Capitalization of small/med.-sized businesses

  • 04 Credit for training

  • 05 Credit for on-the-job training period

  • 06 Design credit

  • 07 Credit for multimedia titles

  • 08 Shipbuilding

  • 09 Financing of university research contract

  • 10 Credit respecting the reporting of tips

  • 11 Information technology - salaries

  • 12 Information technology - acquisitions

  • 13 Regional venture capital corporation

  • 14 Less polluting dry cleaning technology

  • 15 Deduction in paid-up capital

  • 16 Scientific research & exper. development

  • 17 Training of young specialized employees

  • 18 Solicitation expenditures

  • 19 Portfolio management corporations

  • 20 Start-up expenditures

  • 21 Salaries and wages - Cité du multimédia

  • 22 Job creation - clothing and footwear industry

  • 23 Railway companies

  • 24 Technological adaptation services

  • 25 Salaries and wages - CNNTQ

  • 26 Salaries - SDZCIMM

  • 27 Eligible custom brokerage contracts - SDZICMM

  • 28 Acquis./leasing of eligible equipment - SDZCIMM

  • 29 Credit for sound recordings productions

  • 30 Credit for musical productions

  • 31 Development of new economy

  • 32 Apprenticeship of new employees - CO

  • 33 Electronic trading solutions - PME

  • 34 Aluminum valley

  • 35 Book editing

  • 36 Salaries - CCE

  • 37 Film dubbing

  • 38 Film production services

  • 39 Promotion with investors

  • 40 Hiring of junior financial analysts

  • 41 Building of strategic structures - ZCIMM

  • 42 Maintenance of race horses

  • 43 Training of employees - Angus technopole

  • 44 Major investment project

  • 45 Numerical shows

  • 46 Salaries - corp. in Gaspésie/Qc maritime area

  • 47 Foreign investment fund - IFC

  • 48 Processing in resource areas

  • 49 Resources

  • 50 Corporation in the Cité de la biotechnologie

  • 51 Specific hiring of specialized installations

  • 52 Hiring of junior financial analysts - DFI

  • 53 Stock brokers with the Nasdaq

  • 54 Electronic business activities

  • 55 Co-operatives

  • 56 Biotechnology in designated sites

  • 57 Nutraceuticals and functional foods

  • 58 Corporation in an innovation centre

  • 59 Recovery of R&D credits

  • 60 Quebec business investment corporation

  • 61 Mineral resources

  • 62 Hiring of new employees - resource regions

  • 63 Building of access roads and public bridges

  • 64 Labour-sponsored fund

  • 65 Job creation - resource regions

  • 66 Ethanol production in Quebec

  • 67 Major employment-generating projects

  • 68 Investment tax on capital

  • 69 Installation of pig manure processing

  • 70 Pre-competitive R&D in private partnership

  • 71 Training in the manufacturing sector

  • 72 Francization

  • 73 Investment

  • 74 E-business development

  • 99 More than two special taxes applicable

    • Secondary keywordAmt-WriteOff

    Use the keyword Amt-WriteOff to enter the amount that has been written off for Quebec corporate tax purposes.