Form T2 Schedule 366 "New Brunswick Corporation Tax Calculation (2019 and Later Tax Years)" - Canada

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Download Form T2 Schedule 366 "New Brunswick Corporation Tax Calculation (2019 and Later Tax Years)" - Canada

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Clear Data
Schedule 366
Protected B
when completed
New Brunswick Corporation Tax Calculation
(2019 and later tax years)
Corporation's name
Business number
Tax year-end
Year
Month Day
Use this schedule if your corporation had a permanent establishment (as defined in section 400 of the federal Income Tax Regulations)
in New Brunswick, and had taxable income earned in the year in New Brunswick.
This schedule is a worksheet only and is not required to be filed with your T2 Corporation Income Tax Return.
Part 1 – Income subject to New Brunswick lower and higher tax rates
Note 1
Taxable income for New Brunswick
1A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income eligible for the New Brunswick lower tax rate:
Line 400 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1B
Line 405 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1C
If your tax year starts before 2019, line 427 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1D
If your tax year starts after 2018
Line 410 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1E
Line 415 of the T2 return . . . . . . . . . . . . . . . . . . . . .
1F
×
=
Amount 1E
Amount 1F
1G
11,250
Line 515 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1H
Subtotal (amount 1E minus amount 1G minus amount 1H)
1I
Amount 1B, 1C, and 1D or 1I, whichever is the least . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1J
×
=
Amount 1J . . . . . . . . . . . . . . . . . .
Note 1
Taxable income for New Brunswick
1K
Taxable income for all provinces
Note 2
Income subject to New Brunswick higher tax rate (amount 1A minus amount 1K) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1L
Note 1 If your corporation had a permanent establishment only in New Brunswick, enter the taxable income from line 360 of the T2 return. Otherwise,
enter the taxable income allocated to New Brunswick from column F in Part 1 of Schedule 5, Tax Calculation Supplementary – Corporations.
Note 2 Includes the territories and the offshore jurisdictions for Nova Scotia and Newfoundland and Labrador.
Part 2 – New Brunswick tax before credits
New Brunswick tax at the lower rate:
Number of days in the tax
×
×
=
year before April 1, 2018
Amount 1K
3%
2A
Number of days in the tax year
Number of days in the tax
×
×
=
Amount 1K
year after March 31, 2018
2.5%
2B
Number of days in the tax year
New Brunswick tax at the lower rate (amount 2A plus amount 2B)
2C
New Brunswick tax at the higher rate:
×
=
Amount 1L
14%
2D
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 3
2E
New Brunswick tax before credits (amount 2C plus amount 2D)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 3 If your corporation had a permanent establishment in more than one jurisdiction or is claiming a New Brunswick tax credit,
enter amount 2E on line 225 of Schedule 5. Otherwise, enter it on line 760 of the T2 return.
T2 SCH 366 E (19)
(Ce formulaire est disponible en français.)
Clear Data
Schedule 366
Protected B
when completed
New Brunswick Corporation Tax Calculation
(2019 and later tax years)
Corporation's name
Business number
Tax year-end
Year
Month Day
Use this schedule if your corporation had a permanent establishment (as defined in section 400 of the federal Income Tax Regulations)
in New Brunswick, and had taxable income earned in the year in New Brunswick.
This schedule is a worksheet only and is not required to be filed with your T2 Corporation Income Tax Return.
Part 1 – Income subject to New Brunswick lower and higher tax rates
Note 1
Taxable income for New Brunswick
1A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income eligible for the New Brunswick lower tax rate:
Line 400 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1B
Line 405 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1C
If your tax year starts before 2019, line 427 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1D
If your tax year starts after 2018
Line 410 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1E
Line 415 of the T2 return . . . . . . . . . . . . . . . . . . . . .
1F
×
=
Amount 1E
Amount 1F
1G
11,250
Line 515 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1H
Subtotal (amount 1E minus amount 1G minus amount 1H)
1I
Amount 1B, 1C, and 1D or 1I, whichever is the least . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1J
×
=
Amount 1J . . . . . . . . . . . . . . . . . .
Note 1
Taxable income for New Brunswick
1K
Taxable income for all provinces
Note 2
Income subject to New Brunswick higher tax rate (amount 1A minus amount 1K) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1L
Note 1 If your corporation had a permanent establishment only in New Brunswick, enter the taxable income from line 360 of the T2 return. Otherwise,
enter the taxable income allocated to New Brunswick from column F in Part 1 of Schedule 5, Tax Calculation Supplementary – Corporations.
Note 2 Includes the territories and the offshore jurisdictions for Nova Scotia and Newfoundland and Labrador.
Part 2 – New Brunswick tax before credits
New Brunswick tax at the lower rate:
Number of days in the tax
×
×
=
year before April 1, 2018
Amount 1K
3%
2A
Number of days in the tax year
Number of days in the tax
×
×
=
Amount 1K
year after March 31, 2018
2.5%
2B
Number of days in the tax year
New Brunswick tax at the lower rate (amount 2A plus amount 2B)
2C
New Brunswick tax at the higher rate:
×
=
Amount 1L
14%
2D
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 3
2E
New Brunswick tax before credits (amount 2C plus amount 2D)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 3 If your corporation had a permanent establishment in more than one jurisdiction or is claiming a New Brunswick tax credit,
enter amount 2E on line 225 of Schedule 5. Otherwise, enter it on line 760 of the T2 return.
T2 SCH 366 E (19)
(Ce formulaire est disponible en français.)