Form T2026 Part XII "Tax on Payments to the Crown by a Tax Exempt Person" - Canada

Form T2026 or the "Form T2026 Part Xii "tax On Payments To The Crown By A Tax Exempt Person" - Canada" is a form issued by the Canadian Revenue Agency.

Download a PDF version of the Form T2026 down below or find it on the Canadian Revenue Agency Forms website.

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Download Form T2026 Part XII "Tax on Payments to the Crown by a Tax Exempt Person" - Canada

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PART XII TAX RETURN – TAX ON PAYMENTS TO THE CROWN BY
A TAX-EXEMPT PERSON
Do not use this area
For use by a person [other than a person described in any of paragraphs 149(1)(d)
to (d.6)] who is exempt from tax under Part I of the Income Tax Act and is subject
to Part XII tax. Part XII tax is in respect of certain amounts including Crown
royalties, taxes, and lease rentals paid, payable, distributed, or distributable in any
manner by that person to another person out of income attributable to production
from a Canadian resource property.
Note
Part XII tax is repealed for taxation years that begin after 2006.
Business Number or social insurance number
Name of person (print)
Address
Postal Code
Tax services office
Taxation year
Year
Month
Day
Year
Month
Day
for the period
from
to
Name of person to contact for more information
Area code
Telephone number
File one completed return with remittance on or before the person's balance-due
day for the taxation year, as per subsection 248(1), at the tax centre serving the
Do not use this area
area in which the person resides.
If this return is filed after the due date, penalties will apply.
Part XII tax payable from page 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1)
Make cheque or money order payable to the Receiver General. On the remittance
form specify "T2026" and indicate the name, social insurance number (or, if a
corporation, the Business Number) and the taxation year of the person or corporation
whose account is to be credited.
Amount enclosed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Daily compound interest at a prescribed rate will apply to unpaid taxes and late-filing penalties.
Certification
I,
, certify that the information given in this return and in any attached documents is, to the best of
my knowledge, true, correct, and complete.
Signature of trustee, authorized officer, or individual
Position or office
Date
T2026 E (05)
(Vous pouvez obtenir ce formulaire en français à www.arc.gc.ca ou en composant le 1 800 959-3376 .)
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PART XII TAX RETURN – TAX ON PAYMENTS TO THE CROWN BY
A TAX-EXEMPT PERSON
Do not use this area
For use by a person [other than a person described in any of paragraphs 149(1)(d)
to (d.6)] who is exempt from tax under Part I of the Income Tax Act and is subject
to Part XII tax. Part XII tax is in respect of certain amounts including Crown
royalties, taxes, and lease rentals paid, payable, distributed, or distributable in any
manner by that person to another person out of income attributable to production
from a Canadian resource property.
Note
Part XII tax is repealed for taxation years that begin after 2006.
Business Number or social insurance number
Name of person (print)
Address
Postal Code
Tax services office
Taxation year
Year
Month
Day
Year
Month
Day
for the period
from
to
Name of person to contact for more information
Area code
Telephone number
File one completed return with remittance on or before the person's balance-due
day for the taxation year, as per subsection 248(1), at the tax centre serving the
Do not use this area
area in which the person resides.
If this return is filed after the due date, penalties will apply.
Part XII tax payable from page 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1)
Make cheque or money order payable to the Receiver General. On the remittance
form specify "T2026" and indicate the name, social insurance number (or, if a
corporation, the Business Number) and the taxation year of the person or corporation
whose account is to be credited.
Amount enclosed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Daily compound interest at a prescribed rate will apply to unpaid taxes and late-filing penalties.
Certification
I,
, certify that the information given in this return and in any attached documents is, to the best of
my knowledge, true, correct, and complete.
Signature of trustee, authorized officer, or individual
Position or office
Date
T2026 E (05)
(Vous pouvez obtenir ce formulaire en français à www.arc.gc.ca ou en composant le 1 800 959-3376 .)
Page 1 of 2
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Calculation of Part XII tax payable
1. Amounts for the property, each of which is:
an amount that became receivable in the year and was required by
paragraph 12(1)(o) to be included in computing income
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
an amount that was paid or became payable in the year and was not
deductible under paragraph
18(1)(I.1)*
or (m) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
an amount by which proceeds of disposition were increased under
subsection 69(6) in the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
an amount by which cost of acquisition was decreased under
subsection 69(7) in the year
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
A
Total
2. Amounts, other than paragraph
18(1)(I.1)*
or (m) amounts, that were paid, payable,
distributed, or distributable by the person to another person whose taxable income is
not exempt from tax under Part I, or to another person whose taxable income is
exempt from tax under Part I, as part of a transaction or event or series of
transactions or events to which any person whose taxable income is not exempt
from tax under Part I was a party, in respect of any production from a Canadian
resource property of petroleum, natural gas, or other related hydrocarbons or of
metals or minerals to any stage that is not beyond the specified
stage**
or in respect
of any revenue or income that may reasonably be regarded as attributable to such
C
production.
3. The income of the person from the property for the year from the production of
petroleum, natural gas, or other related hydrocarbons or of metals or minerals to any
stage that is not beyond the specified
stage**
computed in accordance with Part I on
the assumption that the property was the person's only source of income and that
the person was allowed only those deductions in computing the income from the
property [other than a deduction under section 65 or paragraph 20(1)(v.1)] that may
D
reasonably be regarded as applicable to the income from the property.
4. Calculate amount B using the amounts for A, C, and D above, in the following
formula:
C
B
A ×
= B
D + C − A
5. Part XII tax payable – 33 1/3% of whichever amount is less: A or B
(enter this amount on line 1 of page 1)
* Paragraph 18(1)(l.1) was repealed for amounts payable after December 20, 2002.
** Specified stage (applies to taxation years that begin after 1996) is defined as:
for petroleum or related hydrocarbons (other than natural gas) . . . . . . . . . . . . .
crude oil stage or its equivalent
for natural gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the stage of natural gas that is
acceptable to a common carrier of
natural gas
for metal or minerals (other than iron,
sulphur, or petroleum or related
hydrocarbons) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the prime metal stage or its equivalent
for iron . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the pellet stage or its equivalent
for sulphur . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the marketable sulphur stage
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