CORPORATE TAXES

Attachments

Schedule 1
Code 1901

Protected B
when completed

Net Income (Loss) for Income Tax Purposes
(2019 and later tax years)

Corporation’s name Business number Tax year-end
Year Month Day

• Use this schedule to reconcile the corporation’s net income (loss) as reported on the financial statements and its net income (loss) for tax purposes. For more
information, see the T2 Corporation – Income Tax Guide.

• All legislative references are to the Income Tax Act.

ANet income (loss) after taxes and extraordinary items from line 9999 of Schedule 125 . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Add:

101Provision for income taxes – current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

102Provision for income taxes – deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

103Interest and penalties on taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

104Amortization of tangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

105Amortization of natural resource assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

106Amortization of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

107Recapture of capital cost allowance from Schedule 8 . . . . . . . . . . . . . . . . . . . . . .

110Loss in equity of subsidiaries and affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

111Loss on disposal of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

112Charitable donations and gifts from Schedule 2. . . . . . . . . . . . . . . . . . . . . . . . . . .

113Taxable capital gains from Schedule 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

114Political contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

115Holdbacks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

116Deferred and prepaid expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

117Depreciation in inventory – end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

118Scientific research expenditures deducted per financial statements . . . . . . . . . . .

119Capitalized interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

120Non-deductible club dues and fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

121Non-deductible meals and entertainment expenses . . . . . . . . . . . . . . . . . . . . . . .

122Non-deductible automobile expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

123Non-deductible life insurance premiums . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

124Non-deductible company pension plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

125Other reserves on lines 270 and 275 from Schedule 13 . . . . . . . . . . . . . . . . . . . .

126Reserves from financial statements – balance at the end of the year . . . . . . . . . .

127Soft costs on construction and renovation of buildings . . . . . . . . . . . . . . . . . . . . .

128Non-deductible fines and penalties under section 67.6 . . . . . . . . . . . . . . . . . . . . .

129Income or loss for tax purposes – partnerships . . . . . . . . . . . . . . . . . . . . . . . . . . .

130Amounts calculated under section 34.2 from Schedule 73 . . . . . . . . . . . . . . . . . .

131Income shortfall adjustment and additional amount from Schedule 73 . . . . . . . . .

132Income or loss for tax purposes – joint ventures . . . . . . . . . . . . . . . . . . . . . . . . . .

199Amount D on page 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

500Total (lines 101 to 199)

T2 SCH 1 E (19) (Ce formulaire est disponible en français.) Page 1 of 4

Protected B when completed

BAmount A plus line 500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Deduct:

401Gain on disposal of assets per financial statements . . . . . . . . . . . . . . . . . . . . . . .

402Non-taxable dividends under section 83 from Schedule 3 . . . . . . . . . . . . . . . . . . .

403Capital cost allowance from Schedule 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

404Terminal loss from Schedule 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

406Allowable business investment loss from Schedule 6 . . . . . . . . . . . . . . . . . . . . . .

407Foreign non-business tax deduction under subsection 20(12) . . . . . . . . . . . . . . . .

408Holdbacks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

409Deferred and prepaid expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

410Depreciation in inventory – end of prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

411SR&ED expenditures claimed in the year on line 460 from Form T661 . . . . . . . . .

413Other reserves on line 280 from Schedule 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . .

414Reserves from financial statements – balance at the beginning of the year . . . . .

416Patronage dividend deduction from Schedule 16. . . . . . . . . . . . . . . . . . . . . . . . . .

417Contributions to deferred income plans from Schedule 15. . . . . . . . . . . . . . . . . . .

418Incorporation expenses under paragraph 20(1)(b). . . . . . . . . . . . . . . . . . . . . . . . .

499Amount E on page 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

510Total (lines 401 to 499)

CNet income (loss) for income tax purposes (amount B minus line 510) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter amount C on line 300 on page 3 of the T2 return.

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