Form T2 Schedule 427 "British Columbia Corporation Tax Calculation (2019 and Later Tax Years)" - Canada

ADVERTISEMENT
ADVERTISEMENT

Download Form T2 Schedule 427 "British Columbia Corporation Tax Calculation (2019 and Later Tax Years)" - Canada

406 times
Rate (4.5 / 5) 24 votes
Clear Data
Schedule 427
Protected B
when completed
British Columbia 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 British Columbia and had taxable income earned in the year in British Columbia.
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 British Columbia lower and higher tax rates
Taxable income for British Columbia
Note 1
1A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income eligible for British Columbia lower tax rate:
Line 400 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1B
Line 405 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1C
Line 427 or 428 of the T2 return
Note 2
1D
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amount 1B, 1C, or 1D, whichever is the least . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1E
For credit unions only:
Amount 3C from Schedule 17, Credit Union Deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1F
Amount 1E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1G
Subtotal (amount 1F minus amount 1G, if negative, enter "0")
1H
Total (amount 1E plus amount 1H)
1I
×
=
Note 1
Amount 1I
Taxable income for British Columbia
1J
. . . . . . . . . . . . . . . . . . .
Note 3
Taxable income for all provinces
1K
Income subject to British Columbia higher tax rate (amount 1A minus amount 1J) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 1 If your corporation had a permanent establishment only in British Columbia, enter the taxable income from line 360 of the T2 return. Otherwise,
enter the taxable income allocated to British Columbia from column F in Part 1 of Schedule 5, Tax Calculation Supplementary – Corporations.
Note 2 If your tax year starts before 2019, use line 427. If your tax year starts after 2018, use line 428.
Note 3 Includes the territories and the offshore jurisdictions for Nova Scotia and Newfoundland and Labrador.
Part 2 – British Columbia tax before credits
British Columbia tax at the lower rate:
×
=
Amount 1J
2%
2A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
British Columbia tax at the higher rate:
×
=
Amount 1K
12%
2B
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 4
2C
British Columbia tax before credits
(amount 2A plus amount 2B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 4 If your corporation had a permanent establishment in more than one jurisdiction or is claiming a British Columbia tax credit, enter amount 2C
on line 240 of Schedule 5. Otherwise, enter it on line 760 of the T2 return.
T2 SCH 427 E (19)
(Ce formulaire est disponible en français.)
Clear Data
Schedule 427
Protected B
when completed
British Columbia 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 British Columbia and had taxable income earned in the year in British Columbia.
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 British Columbia lower and higher tax rates
Taxable income for British Columbia
Note 1
1A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income eligible for British Columbia lower tax rate:
Line 400 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1B
Line 405 of the T2 return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1C
Line 427 or 428 of the T2 return
Note 2
1D
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amount 1B, 1C, or 1D, whichever is the least . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1E
For credit unions only:
Amount 3C from Schedule 17, Credit Union Deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1F
Amount 1E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1G
Subtotal (amount 1F minus amount 1G, if negative, enter "0")
1H
Total (amount 1E plus amount 1H)
1I
×
=
Note 1
Amount 1I
Taxable income for British Columbia
1J
. . . . . . . . . . . . . . . . . . .
Note 3
Taxable income for all provinces
1K
Income subject to British Columbia higher tax rate (amount 1A minus amount 1J) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 1 If your corporation had a permanent establishment only in British Columbia, enter the taxable income from line 360 of the T2 return. Otherwise,
enter the taxable income allocated to British Columbia from column F in Part 1 of Schedule 5, Tax Calculation Supplementary – Corporations.
Note 2 If your tax year starts before 2019, use line 427. If your tax year starts after 2018, use line 428.
Note 3 Includes the territories and the offshore jurisdictions for Nova Scotia and Newfoundland and Labrador.
Part 2 – British Columbia tax before credits
British Columbia tax at the lower rate:
×
=
Amount 1J
2%
2A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
British Columbia tax at the higher rate:
×
=
Amount 1K
12%
2B
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 4
2C
British Columbia tax before credits
(amount 2A plus amount 2B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note 4 If your corporation had a permanent establishment in more than one jurisdiction or is claiming a British Columbia tax credit, enter amount 2C
on line 240 of Schedule 5. Otherwise, enter it on line 760 of the T2 return.
T2 SCH 427 E (19)
(Ce formulaire est disponible en français.)