Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:33
Tax Summary
Summary
Corporation name
Metro Inc.
Tax year ending 2010-12-31
Taxable income
Net income for tax purposes
Charitable donations and gifts
Taxable dividends
Losses of prior years
Other adjustments
Tax payable
1,306,000
15,000
36,000
70,000
±
Taxable income =
1,185,000
Part I tax
38% of taxable income
Surtax
Recapture of investment tax credit
Refundable tax on CCPC investment income
Active business income
1,159,000
Small business deduction
Federal tax abatement
Manufacturing and processing deduction
Additional deduction - credit unions
Foreign tax credits
Investment tax credit
Other deductions and credits
Part I tax
450,300
+
+
+
6,467
=
85,000
118,500
52,265
6,535
194,467
Part I tax
Taxable dividends received
GRIP at the end of the tax year
LRIP at the end of the tax year
Part III.1 tax
Part IV tax
Other federal tax payable
194,467
36,000
717,720
Subtotal
+
+
+
=
Provincial and territorial tax (except AB,QC)
Provincial tax on large corporations (NB,NS)
Tax payable
+
+
+
Tax instalments paid
Investment tax credit refund
Taxable dividends paid
Dividend refund
Other refundable credits
Balance owing (refund) on federal return
-
212,000
=
33,333
Newfoundland
Prince Edward Island
Nova Scotia
New Brunswick
Ontario
Manitoba
Saskatchewan
British Columbia
Yukon Territory
Northwest Territories
Nunavut
% Provincial
allocation
Taxable income
100.0000
Capital and other
provincial taxes
94,247
Schedule 5 provincial tax payable
94,247
300,714
55,381
Provincial income tax (AB,QC)
Capital and other provincial taxes
+
Tax instalments and credits
Other provincial taxes =
Income tax
1,185,000
206,467
100,000
Total balance owing (refund)
Provincial tax
12,000
55,381
Tax instalments
and credits
Net provincial tax
94,247
94,247
Alberta
Québec
Totals
Loss continuity
Capital
Non-capital
Farm
Restricted farm
Limited partnership
Listed personal property
Current year
carry back
94,247
Carryforward
end of year
17,000
94,247
Other carryforwards
Capital dividend account
Refundable dividend tax on hand
(net of dividend refund)
Unused Part 1.3 tax credit
Unused surtax credits
Foreign business tax credits
Donations and gifts
Investment tax credits
Ontario S510 (CMT) losses
Ontario S510 (CMT) credit
14,000
4,534
Page 1 of 1
Canada Revenue
Agency
Agence du revenu
du Canada
200
Code 1001
T2 CORPORATION INCOME TAX RETURN
This form serves as a federal, provincial, and territorial corporation income tax return, unless the corporation is located in 055
Ontario (for tax years ending before 2009), Quebec, or Alberta. If the corporation is located in one of these provinces,
you have to file a separate provincial corporation return.
Parts, sections, subsections, and paragraphs mentioned on this return refer to the federal Income Tax Act. This return
may contain changes that had not yet become law at the time of printing.
Send one completed copy of this return, including schedules and the General Index of Financial Information (GIFI), to
your tax centre or tax services office. You have to file the return within six months after the end of the corporation's tax
year.
For more information see www.cra.gc.ca or Guide T4012, T2 Corporation – Income Tax Guide.
Do not use this area
Identification
001 11111 1118 RC 0001
Business number (BN)
Corporation's name
002 Metro Inc.
Address of head office
Has this address changed since the last
time you filed your T2 return?
(If yes, complete lines 011 to 018)
011 340 - 3rd Avenue North
012
City
015 Saskatoon
Country (other than Canada)
017
010 1 Yes
2 No X
Province, territory, or state
016 SK
Postal code/Zip code
018 S7K 0A8
Location of books and records
Has the location of books and records
changed since the last time you filed your
T2 return?
030 1 Yes 2 No X
(If yes, complete lines 031 to 038)
031 340 - 3rd Avenue North
032
City
Province, territory, or state
035 Saskatoon
036 SK
Country (other than Canada)
Postal code/Zip code
037
038 S7K 0A8
040 Type of corporation at the end of the tax year
4 Corporation controlled by
1 X Canadian-controlled
private corporation (CCPC)
a public corporation
5 Other corporation
2 Other private
corporation
(specify, below)
3 Public corporation
091
100
092
Tax year-end
061 2010-12-31
Has there been an acquisition of control to which subsection 249(4) applies
since the previous tax year?
063 1 Yes 2 No X
Mailing address (if different from head office address)
Has this address changed since the last
2 No X
time you filed your T2 return?
020 1 Yes
(If yes, complete lines 021 to 028)
021 c/o
022 340 - 3rd Avenue North
023
City
Province, territory, or state
025 Saskatoon
026 SK
Country (other than Canada)
Postal code/Zip code
027
028 S7K 0A8
If the type of corporation changed
during the tax year, provide the
effective date of the change
To which tax year does this return apply?
Tax year start
060 2010-01-01
If yes, provide the date control was
acquired
Is the date on line 061 a deemed tax
year-end in accordance with subsection
249(3.1) ?
065
066 1 Yes
2 No
X
Is the corporation a professional corporation that is a member of a
partnership?
067 1 Yes 2 No X
Is this the first year of filing after:
Incorporation?
Amalgamation?
070 1 Yes
071 1 Yes
2 No
2 No
X
X
If yes, complete lines 030 to 038 and attach Schedule 24.
Has there been a wind-up of a subsidiary under section 88 during the
current tax year?
072 1 Yes 2 No X
If yes, complete and attach Schedule 24.
Is this the final tax year
before amalgamation?
076 1 Yes
2 No
X
Is this the final return up to
dissolution?
078 1 Yes
2 No
X
If an election was made under section 261,
state the functional currency used
Is the corporation a resident of
Canada?
If no, give the country of residence on line
081 and complete and attach Schedule 97.
Is the non-resident corporation claiming
an exemption under an income tax
treaty?
If yes, complete and attach Schedule 91.
079
080 1 Yes X 2 No
081
082 1 Yes
2 No
X
If the corporation is exempt from tax under section 149, tick one of the
following boxes:
Exempt under paragraph 149(1)(e) or (I)
085 1
Exempt under paragraph 149(1)(j)
2
Exempt under paragraph 149(1)(t)
3
Exempt under other paragraphs of section 149
4
043
093
Do not use this area
094
095
096
T2 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA
Page 1 of 8
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Attachments
Financial statement information: Use GIFI schedules 100, 125, and 141.
Schedules - Answer the following questions. For each yes response, attach to the T2 return the schedule that applies.
Yes Schedule
150
9
Is the corporation related to any other corporations?
Is the corporation an associated CCPC?
160
23
Is the corporation an associated CCPC that is claiming the expenditure limit?
161
49
Does the corporation have any non-resident shareholders?
151
19
Has the corporation had any transactions, including section 85 transfers, with its shareholders, officers, or employees, other
162
11
than transactions in the ordinary course of business? Exclude non-arm's length transactions with non-residents
If you answered Yes to the above question, and the transaction was between corporations not dealing at arm's length, were
all or substantially all of the assets of the transferor disposed of to the transferee?
163
44
Has the corporation paid any royalties, management fees, or other similar payments to residents of Canada?
164
14
Is the corporation claiming a deduction for payments to a type of employee benefit plan?
165
15
Is the corporation claiming a loss or deduction from a tax shelter acquired after August 31, 1989?
166
T5004
Is the corporation a member of a partnership for which a partnership identification number has been assigned?
167
T5013
Did the corporation, a foreign affiliate controlled by the corporation, or any other corporation or trust that did not deal at arm's
168
22
length with the corporation have a beneficial interest in a non-resident discretionary trust?
Did the corporation have any foreign affiliates during the year?
169
25
Has the corporation made any payments to non-residents of Canada under subsections 202(1) and/or 105(1) of the federal
Income Tax Regulations?
170
29
Has the corporation had any non-arm's length transactions with a non-resident?
171
T106
For private corporations: Does the corporation have any shareholders who own 10% or more of the corporation's common
173 X
50
and/or preferred shares?
Has the corporation made payments to, or received amounts from, a retirement compensation plan arrangement during the
172
----year?
Is the net income/loss shown on the financial statements different from the net income/loss for income tax purposes?
201 X
1
Has the corporation made any charitable donations; gifts to Canada, a province, or a territory;
202 X
2
gifts of cultural or ecological property; or gifts of medicine?
Has the corporation received any dividends or paid any taxable dividends for purposes of the dividend refund?
203 X
3
Is the corporation claiming any type of losses?
204 X
4
Is the corporation claiming a provincial or territorial tax credit or does it have a permanent establishment in more than one
205 X
5
jurisdiction?
Has the corporation realized any capital gains or incurred any capital losses during the tax year?
206 X
6
i) Is the corporation claiming the small business deduction and reporting income from: a) property (other than dividends
deductible on line 320 of the T2 return), b) a partnership, c) a foreign business, or d) a personal services business; or
207 X
7
ii) is the corporation claiming the refundable portion of Part I tax?
Does the corporation have any property that is eligible for capital cost allowance?
208 X
8
Does the corporation have any property that is eligible capital property?
210 X
10
Does the corporation have any resource-related deductions?
212
12
Is the corporation claiming deductible reserves?
213
13
Is the corporation claiming a patronage dividend deduction?
216
16
Is the corporation a credit union claiming a deduction for allocations in proportion to borrowing or an additional deduction?
217
17
Is the corporation an investment corporation or a mutual fund corporation?
218
18
Is the corporation carrying on business in Canada as a non-resident corporation?
220
20
Is the corporation claiming any federal or provincial foreign tax credits, or any federal or provincial logging tax credits?
221
21
Does the corporation have any Canadian manufacturing and processing profits?
227 X
27
Is the corporation claiming an investment tax credit?
231
31
Is the corporation claiming any scientific research and experimental development (SR&ED) expenditures?
232
T661
Is the total taxable capital employed in Canada of the corporation and its related corporations over $10,000,000?
233
----Is the total taxable capital employed in Canada of the corporation and its associated corporations over $10,000,000?
234
----Is the corporation claiming a surtax credit?
237
37
Is the corporation subject to gross Part VI tax on capital of financial institutions?
238
38
Is the corporation claiming a Part I tax credit?
242
42
Is the corporation subject to Part IV.1 tax on dividends received on taxable preferred shares or Part VI.1 tax on dividends
243
43
paid?
Is the corporation agreeing to a transfer of the liability for Part VI.1 tax?
244
45
Is the corporation subject to Part II - Tobacco Manufacturers' surtax?
249
46
For financial institutions: Is the corporation a member of a related group of financial institutions with one or more members
250
39
subject to gross Part VI tax?
Is the corporation claiming a Canadian film or video production tax credit refund?
253
T1131
Is the corporation claiming a film or video production services tax credit refund?
254
T1177
Is the corporation subject to Part XIII.1 tax?
255
92 *
* We do not print this schedule.
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Attachments - Continued from page 2
Yes
Did the corporation have any foreign affiliates that are not controlled foreign affiliates?
Did the corporation have any controlled foreign affiliates?
Did the corporation own specified foreign property in the year with a cost amount over $100,000?
Did the corporation transfer or loan property to a non-resident trust?
Did the corporation receive a distribution from or was it indebted to a non-resident trust in the year?
Has the corporation entered into an agreement to allocate assistance for SR&ED carried out in Canada?
Has the corporation entered into an agreement to transfer qualified expenditures incurred in respect
of SR&ED contracts?
Has the corporation entered into an agreement with other associated corporations for salary or wages of specified
employees for SR&ED?
Did the corporation pay taxable dividends (other than capital gains dividends) in the tax year?
Has the corporation made an election under subsection 89(11) not to be a CCPC?
Has the corporation revoked any previous election made under subsection 89(11)?
Did the corporation (CCPC or deposit insurance corporation (DIC)) pay eligible dividends, or did its general rate income pool
(GRIP) change in the tax year?
Did the corporation (other than a CCPC or DIC) pay eligible dividends, or did its low rate income pool (LRIP) change in the
tax year?
256
258
259
260
261
262
Schedule
T1134-A
T1134-B
T1135
T1141
T1142
T1145
263
T1146
264
265 X
266
267
T1174
55
T2002
T2002
268 X
53
269
54
Additional information
Did the corporation use the International Financial Reporting Standards (IFRS) when it prepared its
financial statements?
Is the corporation inactive?
Has the major business activity changed since the last return was filed? (enter yes for first-time filers)
282
What is the corporation's major business activity?
(Only complete if yes was entered at line 281.)
If the major business activity involves the resale of goods, show whether it is wholesale or retail
270
280
281
283
1 Yes X
1 Yes
1 Yes
1 Wholesale
Specify the principal product(s) mined, manufactured, sold,
284 Furniture manufacturing
constructed, or services provided, giving the approximate
286
percentage of the total revenue that each product or service
288
represents.
Did the corporation immigrate to Canada during the tax year?
Did the corporation emigrate from Canada during the tax year?
Do you want to be considered as a quarterly instalment remitter if you are eligible?
285
287
289
291
292
293
If the corporation was eligible to remit instalments on a quarterly basis for part of the tax year, provide
the date the corporation ceased to be eligible
If the corporation's major business activity is construction, did you have any sub-contractors
during the tax year?
2 No
2 No X
2 No X
2 Retail
100.000 %
%
%
1 Yes
1 Yes
1 Yes
2 No X
2 No X
2 No
1 Yes
2 No
294
295
Taxable income
Net income or (loss) for income tax purposes from Schedule 1, financial statements, or GIFI
300
1,306,000 A
Subtotal
121,000
Subtotal (amount A minus amount B) (if negative, enter "0")
355
Add:
Section 110.5 additions or subparagraph 115(1)(a)(vii) additions
360
Taxable income (amount C plus amount D)
Income exempt under paragraph 149(1)(t)
370
Taxable income for a corporation with exempt income under paragraph 149(1)(t) (line 360 minus line 370)
121,000 B
1,185,000 C
D
1,185,000
Deduct:
*
Charitable donations from Schedule 2
Gifts to Canada, a province, or a territory from Schedule 2
Cultural gifts from Schedule 2
Ecological gifts from Schedule 2
Gifts of medicine from Schedule 2
Taxable dividends deductible under section 112 or 113, or subsection
138(6) from Schedule 3
Part VI.1 tax deduction *
Non-capital losses of previous tax years from Schedule 4
Net capital losses of previous tax years from Schedule 4
Restricted farm losses of previous tax years from Schedule 4
Farm losses of previous tax years from Schedule 4
Limited partnership losses of previous tax years from Schedule 4
Taxable capital gains or taxable dividends allocated from a central
credit union
Prospector's and grubstaker's shares
311
312
313
314
315
15,000
320
325
331
332
333
334
335
36,000
56,000
14,000
340
350
Z
This amount is equal to 3 times the Part VI.1 tax payable at line 724 on page 8.
T2 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
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Small business deduction
Canadian-controlled private corporations (CCPCs) throughout the tax year
Income from active business carried on in Canada from Schedule 7
Taxable income from line 360 on page 3, minus 10/3 of the amount on line 632* on page 7, minus 3 times the
amount on line 636** on page 7, and minus any amount that, because of federal law, is exempt from Part I tax
Calculation of the business limit:
For all CCPCs, calculate the amount at line 4 below.
$400,000 x
$500,000 x
Number of days in the tax year before 2009
Number of days in the tax year
Number of days in the tax year after 2008
Number of days in the tax year
400
1,159,000 A
405
1,185,000 B
=
1
365 =
365
Add amounts at lines 1 and 2
500,000 2
365
500,000 4
410
Business limit (see notes 1 and 2 below)
Notes: 1. For CCPCs that are not associated, enter the amount from line 4 on line 410. However, if the corporation’s
tax year is less than 51 weeks, prorate the amount from line 4 by the number of days in the tax
year divided by 365, and enter the result on line 410.
2. For associated CCPCs, use Schedule 23 to calculate the amount to be entered on line 410.
Business limit reduction:
Amount C
500,000 X
415 ***
D
=
11,250
Reduced business limit (amount C minus amount E) (if negative, enter "0")
Small business deduction
Number of days in the tax year before
Amount A, B, C, or F
January 1, 2008
whichever is the least
500,000
X
Number of days in the tax year
Amount A, B, C, or F
whichever is the least
500,000
X
Number of days in the tax year after
December 31, 2007
Number of days in the tax year
425
500,000 C
E
500,000 F
x 16% =
5
x 17% =
85,000 6
365
365
365
Total of amounts 5 and 6 - enter on line 9 of page 7 430
85,000 G
* Calculate the amount of foreign non-business income tax credit deductible at line 632 without reference to the refundable tax on the CCPC's
investment income (line 604) and without reference to the corporate tax reductions under section 123.4.
** Calculate the amount of foreign business income tax credit deductible on line 636 without reference to the corporate tax reductions under section
123.4.
*** Large corporations
If the corporation is not associated with any corporations in both the current and the previous tax years, the amount to be entered at line 415 is:
(Total taxable capital employed in Canada for the prior year minus $10,000,000) x 0.225%.
If the corporation is not associated with any corporations in the current tax year, but was associated in the previous tax year, the amount to be
entered at line 415 is: (Total taxable capital employed in Canada for the current year minus $10,000,000) x 0.225%
For corporations associated in the current tax year, see Schedule 23 for the special rules that apply.
T2 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
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File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
General tax reduction for Canadian-controlled private corporations
Canadian-controlled private corporations throughout the tax year
Taxable income from line 360 on page 3
Lesser of amounts V and Y from Part 9 of Schedule 27
Amount QQ from Part 13 of Schedule 27
Amount used to calculate the credit union deduction from Schedule 17
Amount from line 400, 405, 410, or 425 on page 4, whichever is the least
Aggregate investment income from line 440 of page 6
Total of amounts B to F
Amount A minus amount G (if negative, enter "0")
Amount H
65,353
Number of days in the tax year before
January 1, 2008
x
Number of days in the tax year
Amount H
65,353
x
65,353
x
Amount H
65,353
x
Number of days in the tax year after
December 31, 2009 and before January 1, 2011
Number of days in the tax year
Amount H
65,353
x
Amount H
65,353
365
365
Number of days in the tax year
x 8.5% =
J
x 9% =
K.1
x 10% =
6,535 K.2
x 11.5% =
K.3
x 13% =
L
365
Number of days in the tax year after
December 31, 2011
x
I
365
Number of days in the tax year after
December 31, 2010 and before January 1, 2012
Number of days in the tax year
x 7% =
365
Number of days in the tax year after
December 31, 2008 and before January 1, 2010
Number of days in the tax year
1,119,647 G
65,353 H
365
Number of days in the tax year after
December 31, 2007 and before January 1, 2009
Number of days in the tax year
Amount H
1,185,000 A
522,647 B
C
D
500,000 E
97,000 F
1,119,647
365
General tax reduction for Canadian-controlled private corporations – Total of amounts I to L
6,535 M
Enter amount M on line 638 of page 7.
General tax reduction
Do not complete this area if you are a Canadian-controlled private corporation, an investment corporation, a mortgage investment corporation,
mutual fund corporation, or any corporation with taxable income that is not subject to the corporation tax rate of 38%.
Taxable income from page 3 (line 360 or amount Z, whichever applies)
Lesser of amounts V and Y from Part 9 of Schedule 27
Amount QQ from Part 13 of Schedule 27
Amount used to calculate the credit union deduction from Schedule 17
Total of amounts O to Q
Amount N minus amount R (if negative, enter "0")
Amount S
Number of days in the tax year before
January 1, 2008
x
N
O
P
Q
R
S
x 7% =
T
x 8.5% =
U
x 9% =
V.1
x 10% =
V.2
x 11.5% =
V.3
x 13% =
W
Number of days in the tax year
Amount S
x
Number of days in the tax year after
December 31, 2007 and before January 1, 2009
Number of days in the tax year
Amount S
x
Number of days in the tax year after
December 31, 2008 and before January 1, 2010
Number of days in the tax year
Amount S
x
Number of days in the tax year after
December 31, 2009 and before January 1, 2011
Number of days in the tax year
Amount S
x
Number of days in the tax year after
December 31, 2010 and before January 1, 2012
Number of days in the tax year
Amount S
x
Number of days in the tax year after
December 31, 2011
Number of days in the tax year
General tax reduction – Total of amounts T to W
X
Enter amount X on line 639 of page 7.
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File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Refundable portion of Part I tax
Canadian-controlled private corporations throughout the tax year
Aggregate investment income
from Schedule 7
440
97,000 X 26 2/3 % =
25,867 A
Foreign non-business income tax credit from line 632 on page 7
Deduct:
Foreign investment income
from Schedule 7
445
X 9 1/3 % =
(if negative, enter "0")
B
25,867 C
Amount A minus amount B (if negative, enter "0")
1,185,000
Taxable income from line 360 on page 3
Deduct:
Amount on line 400, 405, 410, or 425 on page 4,
whichever is the least
Foreign non-business
income tax credit from
line 632 of page 7
x 25/9 =
Foreign business income
tax credit from line 636
x3=
of page 7
500,000
500,000
500,000
685,000 X 26 2/3% =
Part I tax payable minus investment tax credit refund
(line 700 minus line 780 from page 8)
Deduct: Corporate surtax
Net amount
182,667 D
194,467
194,467
Refundable portion of Part I tax – Amount C, D, or E, whichever is the least
194,467 E
450
25,867 F
Refundable dividend tax on hand
Refundable dividend tax on hand at the end of the previous tax year
Deduct: Dividend refund for the previous tax year
460
465
G
Add the total of:
Refundable portion of Part I tax from line 450 above
Total Part IV tax payable from Schedule 3
Net refundable dividend tax on hand transferred from a predecessor
corporation on amalgamation, or from a wound-up subsidiary
corporation
25,867
12,000
480
37,867
Refundable dividend tax on hand at the end of the tax year - Amount G plus amount H
37,867 H
485
37,867
Dividend refund
Private and subject corporations at the time taxable dividends were paid in the tax year
Taxable dividends paid in the tax year from line 460 on page 2 of
Schedule 3
Refundable dividend tax on hand at the end of the tax year from line 485 above
Dividend refund – Amount I or J, whichever is less (enter this amount on line 784 of page 8)
100,000 X 1/3
33,333 I
37,867 J
33,333
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File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Part I tax
Base amount of Part I tax
taxable income from page 3 (line 360 or amount Z, whichever applies) multiplied by 38%
550
450,300 A
Recapture of investment tax credit from Schedule 31
602
B
604
6,467 C
Calculation for the refundable tax on the Canadian-controlled private corporation's (CCPC) investment income
(if it was a CCPC throughout the tax year)
97,000 i
Aggregate investment income from line 440 on page 6
Taxable income from line 360 on page 3
Deduct:
Amount on line 400, 405, 410, or 425 of page 4,
whichever is the least
Net amount
1,185,000
500,000
685,000
685,000 ii
Refundable tax on CCPC's investment income – 6 2/3% of whichever is less: amount i or ii
Subtotal (add lines A to C)
Deduct:
Small business deduction from line 430 on page 4
Federal tax abatement
Manufacturing and processing profits deduction from Schedule 27
Investment corporation deduction
(taxed capital gains 624
Additional deduction – credit unions from Schedule 17
Federal foreign non-business income tax credit from Schedule 21
Federal foreign business income tax credit from Schedule 21
General tax reduction for CCPCs from amount M on page 5
General tax reduction from amount X on page 5
Federal logging tax credit from Schedule 21
Federal qualifying environmental trust tax credit
Investment tax credit from Schedule 31
608
616
620
85,000 9
118,500
52,265
)
628
632
636
638
639
640
648
652
Subtotal
Part I tax payable – Line D minus line E
456,767 D
6,535
262,300
262,300 E
194,467 F
Enter amount F on line 700 of page 8.
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File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Summary of tax and credits
Federal tax
Part I tax payable from page 7
Part II surtax payable from Schedule 46
Part III.1 tax payable from Schedule 55
Part IV tax payable from Schedule 3
Part IV.1 tax payable from Schedule 43
Part VI tax payable from Schedule 38
Part VI.1 tax payable from Schedule 43
Part XIII.1 tax payable from Schedule 92
Part XIV tax payable from Schedule 20
700
708
710
712
716
720
724
727
728
194,467
12,000
Total federal tax
Add provincial or territorial tax:
750 SK
Provincial or territorial jurisdiction
(if more than one jurisdiction, enter "multiple" and complete Schedule 5)
Net provincial or territorial tax payable (except Ontario [for tax years ending
before 2009], Quebec, and Alberta)
Provincial tax on large corporations (New Brunswick* and Nova Scotia)
760
765
206,467
94,247
94,247
Total tax payable 770
94,247
300,714 A
* The New Brunswick tax on large corporations is eliminated effective January 1, 2009.
Deduct other credits:
Investment tax credit refund from Schedule 31
Dividend refund from page 6
Federal capital gains refund from Schedule 18
Federal qualifying environmental trust tax credit refund
Canadian film or video production tax credit refund (Form T1131)
Film or video production services tax credit refund (Form T1177)
Tax withheld at source
Total payments on which tax has been withheld
801
Provincial and territorial capital gains refund from Schedule 18
Provincial and territorial refundable tax credits from Schedule 5
Tax instalments paid
Refund Code
894
780
784
788
792
796
797
800
808
812
840
Total credits 890
Overpayment
Direct Deposit Request
To have the corporation's refund deposited directly into the corporation's bank account at a
financial institution in Canada, or to change banking information you already gave us, complete
the information below:
Change information
910 _____
Start
Branch number
914
918
Institution number
Account number
33,333
212,000
245,333
Balance (line A minus line B)
If the result is negative, you have an overpayment.
245,333 B
55,381 I
If the result is positive, you have a balance unpaid.
Enter the amount on whichever line applies.
Generally, we do not charge or refund a difference of $2 or less.
55,381
Balance unpaid
898
Enclosed payment
If the corporation is a Canadian-controlled private corporation throughout the tax year,
does it qualify for the one-month extension of the date the balance of tax is due?
896 1 Yes
2 No X
NA
Certification
I, 950 Brown
,
951 Jack
954 President
Last name
First name
Position, office or rank
am an authorized signing officer of the corporation. I certify that I have examined this return, including accompanying schedules and statements, and that
the information given on this return is, to the best of my knowledge, correct and complete. I further certify that the method of calculating income for this tax
year is consistent with that of the previous tax year except as specifically disclosed in a statement attached to this return.
955 2011-06-12
956 (306) 975-4580
Date
Signature of the authorized signing officer of the corporation
Telephone number
2 No
Is the contact person the same as the authorized signing officer? If no, complete the information below.
957 1 Yes X
958
959 (___) ___ - ____
Telephone number
Name
Language of correspondence - Langue de correspondance
Indicate your language of correspondence by entering 1 for English or 2 for French.
Indiquez votre langue de correspondance en inscrivant 1 pour anglais ou 2 pour français.
990
1
T2 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 8 of 8
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
NET INCOME (LOSS) FOR INCOME TAX PURPOSES
Schedule 1
Code 0901
The purpose of this schedule is to provide a reconciliation between 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.
Sections, subsections, and paragraphs referred to on this schedule are from the Income Tax Act.
Amount calculated on line 9999 from Schedule 125
Add:
Interest and penalties on taxes
Amortization of tangible assets
Recapture of capital cost allowance from Schedule 8
Charitable donations and gifts from Schedule 2
Taxable capital gains from Schedule 6
A
103
104
107
112
113
Total of lines 101 to 199 500
2,300
607,000
150,000
15,000
14,000
788,300
401
403
405
Total of lines 401 to 499 510
Net income (loss) for income tax purposes - enter on line 300 on page 3 of the T2 return
160,000
1,076,000
6,300
1,242,300
Deduct:
Gain on disposal of assets per financial statements
Capital cost allowance from Schedule 8
Cumulative eligible capital deduction from Schedule 10
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1,760,000
788,300
1,242,300
1,306,000
Page 1 of 1
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
Schedule 2
CHARITABLE DONATIONS AND GIFTS
For use by corporations to claim any of the following:
– charitable donations;
– gifts to Canada, a province, or a territory;
– gifts of certified cultural property;
– gifts of certified ecologically sensitive land; or
– additional deduction for gifts of medicine.
The donations and gifts are eligible for a five-year carryforward.
Use this schedule to show a credit transfer following an amalgamation or the wind-up of a subsidiary as described under subsections 87(1) and 88(1) of the
Income Tax Act.
For donations and gifts made after March 22, 2004, subsection 110.1(1.2) of the Income Tax Act provides as follows:
– Where a particular corporation has undergone an acquisition of control, for tax years that end on or after the acquisition of control, no corporation can
claim a deduction for a gift made by the particular corporation to a qualified donee before the acquisition of control;
– If a particular corporation makes a gift to a qualified donee pursuant to an arrangement under which both the gift and the acquisition of control is
expected, no corporation can claim a deduction for the gift unless the person acquiring control of the particular corporation is the qualified donee.
Under proposed changes, the eligible amount of a charitable gift is the amount by which the fair market value of the gift exceeds the amount of an
advantage, if any, for the gift.
Under proposed changes, a gift of medicine made after March 18, 2007, to qualifying organizations for activities outside of Canada, may be eligible for an
additional deduction if the gift is an eligible medical gift. This additional deduction is calculated in Part 6.
File one completed copy of this schedule with your T2 Corporation Income Tax Return.
For more information, see the T2 Corporation – Income Tax Guide.
Current year donations and gifts
Name of organization (optional)
Type of gift
Donation
Donation
Total current year donations and gifts
Cancer Research Society
Amount paid
15,000
15,000
Part 1 - Charitable donations
Year of origin
2004-12-31
2005-12-31
2006-12-31
2007-12-31
2008-12-31
2009-12-31
2010-12-31
Totals
Balance at end of
prior year
Beginning
balance
Transfer on
amalgamation or
wind-up
Current year
donations
Adjustment
on acquisition
of control
Applied
Ending balance
Expired
15,000
15,000
Charitable donations at the end of the previous tax year
Deduct: Charitable donations expired after five tax years
Charitable donations at the beginning of the tax year
Add:
Charitable donations transferred on an amalgamation or the wind-up of a subsidiary
Total current-year charitable donations made
(enter this amount on line 112 of Schedule 1)
Subtotal (line 250 plus line 210)
Deduct: Adjustment for an acquisition of control (for donations made after March 22, 2004)
Total charitable donations available
Deduct: Amount applied against taxable income (cannot be more than amount K in Part 2)
(enter this amount on line 311 of the T2 return)
Charitable donations closing balance
15,000
15,000
239
240
250
210
15,000
15,000
15,000
255
A
260
280
15,000
15,000
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File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
CHARITABLE DONATIONS AND GIFTS
Part 2 - Calculation of the maximum allowable deduction for charitable donations
1,306,000 X
Net income for tax purposes*
Taxable capital gains arising in respect of gifts of capital property included in Part 1**
Taxable capital gain in respect of deemed gifts of non-qualifying
securities per subsection 40(1.01)
The amount of the recapture of capital cost
230
allowance in respect of charitable gifts
Proceeds of disposition, less outlays
E
and expenses**
Capital cost**
F
Amount E or F, whichever is less
235
Amount on line 230 or 235, whichever is less
G
Subtotal (add amounts C, D, and G)
H
75 % =
B
979,500
I
J
979,500
K
15,000
225 C
227 D
X
25 % =
Subtotal (amount B plus amount I)
Maximum allowable deduction for charitable donations (enter amount A from Part 1, amount J, or net
income for tax purposes, whichever is less)
* For credit unions, this amount is before the deduction of payments pursuant to allocations in proportion to borrowing and bonus interest.
** This amount must be prorated by the following calculation: eligible amount of the gift divided by the proceeds of disposition of the gift.
Part 3 - Gifts to Canada, a province, or a territory
Year of origin
2004-12-31
2005-12-31
2006-12-31
2007-12-31
2008-12-31
2009-12-31
2010-12-31
Totals
Balance at end of
prior year
Beginning
balance
Transfer on
amalgamation or Current year gifts
wind-up
Adjustment
on acquisition
of control
Applied
Ending balance
Expired
Gifts to Canada, a province, or a territory at the end of the previous tax year
Deduct:
Gifts to Canada, a province, or a territory expired after five tax years
Gifts to Canada, a province, or a territory at the beginning of the tax year
339
340
Add:
Gifts to Canada, a province, or a territory transferred on an amalgamation or the windup
350
of a subsidiary
Total current-year gifts made to Canada, a province, or a territory *
310
Subtotal (line 350 plus line 310)
Deduct:
Adjustment for an acquisition of control (for gifts made after March 22, 2004)
Amount applied against taxable income (enter this amount on line 312 of the T2 return)
Gifts to Canada, a province, or a territory closing balance
* Not applicable for gifts made after February 18, 1997, unless a written agreement was made before this date.
If no written agreement exists, enter the amount on line 210 and complete Part 2.
355
360
380
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Canada Customs
and Revenue Agency
Agence des douanes
et du revenu du Canada
DIVIDENDS RECEIVED, TAXABLE DIVIDENDS PAID,
AND PART IV TAX CALCULATION
Schedule 3
This schedule is for the use of any corporation to report:
- non-taxable dividends under section 83;
- deductible dividends under subsection 138(6);
- taxable dividends deductible from income under section 112, subsection 113(2) and paragraphs 113(1)(a), (b) or (d); or
- taxable dividends paid for purposes of a dividend refund.
The calculations in this schedule apply only to private or subject corporations.
Parts, sections, subsections, and paragraphs referred to on this schedule are from the federal Income Tax Act.
A recipient corporation is connected with a payer corporation at any time in a taxation year, if at that time the recipient corporation:
- controls the payer corporation, other than because of a right referred to in paragraph 251(5)(b); or
- owns more than 10% of the issued share capital (with full voting rights), and shares that have a fair market value of more than 10% of the fair market
value of all shares of the payer corporation.
If you need more space, continue on a separate schedule.
File one completed copy of this schedule with your T2 Corporation Income Tax Return.
For more information, see the sections about Schedule 3 in the T2 Corporation Income Tax Guide.
Part 1 - Dividends received during the taxation year
Do not include dividends received from foreign non-affiliates.
A
Name of payer corporation
200
1 Canadian Tax Save Inc.
B
C
D
E
F
Connected? Dividends from
Dividends
Dividends deductible from Non-taxable dividends
foreign source? subject to Part income under s.112, 113,
deductible under
IV tax?
and 138(6)
section 83
205
240
230
2 No
No
Yes
36,000
Note: If your corporation's taxation year-end is different than that of the connected payer corporation, your corporation could have received dividends from
more than one taxation year of the payer corporation. If so, use a separate line to provide the information for each taxation year of the payer corporation.
Complete if payer corporation is connected and a private or subject corporation
G
H
I
J
K
GRIP / LRIP
Business number
Taxation year end of the Total taxable dividends Dividend refund of the
Part IV tax before
Column E Indicate
payer corporation in
paid by connected
connected payer
deductions **
deduction
eligible
which the dividend was
payer corporation
corporation
type
dividends
paid
250
210
220
260
270
X
1 _____ ____ RC ____
0
0
12,000 s. 112
_____ ____ RC ____
0
0
0
Total non-taxable dividends deductible under section 83
Total dividends deductible from income under sections 112, 113, and 138(6)
36,000
** For dividends received from non-connected corporations, Part IV tax = the amount entered in column E x 1/3
For dividends received from connected corporations, do the following calculation: Part IV tax = column E x column J / column I
Life insurers are not subject to Part IV tax on subsection 138(6) dividends.
Public corporations (other than subject corporations) do not need to calculate Part IV tax.
Part 2 - Calculation of Part IV tax payable
Part IV tax before deductions (total of column K in Part 1)
Deduct:
Part IV.I tax payable on dividends subject to Part IV tax
12,000
320
Subtotal
Deduct:
Current-year non-capital loss claimed to reduce Part IV tax
Non-capital losses from previous years claimed to reduce Part IV tax
Current-year farm loss claimed to reduce Part IV tax
Farm losses from previous years claimed to reduce Part IV tax
Total losses applied against Part IV tax
Part IV tax payable (enter amount on line 712 of the T2 return)
12,000
330
335
340
345
x 1/3 =
360
12,000
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DIVIDENDS RECEIVED, TAXABLE DIVIDENDS PAID, AND PART IV TAX CALCULATION
Part 3 - Taxable dividends paid in the taxation year for purposes of a dividend refund
A
Name of connected recipient corporation
400
B
Business number
410
_____ ____ RC ____
C
Taxation year end of
connected recipient
corporation in which the
dividend was received
420
Note
If your corporation's taxation year-end is different than that of the connected recipient corporation, your
corporation could have paid dividends in more than one taxation year of the recipient corporation. If so,
use a separate line to provide the information for each taxation year of the recipient corporation.
Total taxable dividends paid in the taxation year to other than connected corporations
Total taxable dividends paid in the taxation year for the purposes of a dividend refund
(total of column D above plus line 450)
D
Taxable dividends paid to
connected corporations
430
Total
450
100,000
460
100,000
Part 4 - Total dividends paid in the taxation year
Complete this part if the total taxable dividends paid in the taxation year for purposes of a dividend refund (line 460 above) is different
from the total dividends paid in the taxation year.
500
Deduct:
Dividends paid out of capital dividend account
Capital gains dividends
Dividends paid on shares described in subsection 129(1.2)
Taxable dividends paid to a controlling corporation that was bankrupt
at any time in the year
Subtotal
Total taxable dividends paid in the taxation year for purposes of a dividend refund
510
520
530
540
0
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File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agence du revenu
Agency
du Canada
Schedule 4
CORPORATION LOSS CONTINUITY AND APPLICATION
This form is used to determine the continuity and use of available losses; to determine the current-year non-capital loss, farm loss, restricted farm loss,
and limited partnership loss; to determine the amount of restricted farm loss and limited partnership loss that may be applied in a year; and to request a
loss carryback to previous years.
The corporation can choose whether or not to deduct an available loss from income in a tax year. It can deduct losses in any order. However, for each
type of loss, deduct the oldest loss first.
According to subsection 111(4) of the Income Tax Act, when control has been acquired, no amount of capital loss incurred for a tax year ending (TYE)
before that time is deductible in computing taxable income in a TYE after that time and no amount of capital loss incurred in a TYE after that time is
deductible in computing taxable income of a TYE before that time.
When control has been acquired, subsection 111(5) provides for similar treatment of non-capital and farm losses, except as listed in paragraphs 111(5)(a)
and (b).
For information on these losses, see the T2 Corporation - Income Tax Guide.
File one completed copy of this schedule with the T2 return, or send it by itself to the tax centre where the return is filed.
Parts, sections, subsections, paragraphs, and subparagraphs mentioned in this schedule refer to the Income Tax Act.
Part 1 – Non-capital losses
Determination of current-year non-capital loss
Net income (loss) for income tax purposes
Deduct: (increase a loss)
Net capital losses deducted in the year (enter as a positive amount)
Taxable dividends deductible under sections 112, 113, or subsection 138(6)
Amount of Part VI.1 tax deductible
Amount deductible as prospector's and grubstaker's shares Paragraph 110(1)(d.2)
1,306,000
14,000
36,000
50,000
Subtotal (if positive, enter "0")
50,000
Deduct: (increase a loss)
Section 110.5 and/or subparagraph 115(1)(a)(vii) - Addition for foreign tax deductions
Subtotal
Add: (decrease a loss)
Current-year farm loss
Current-year non-capital loss (if positive, enter "0")
Continuity of non-capital losses and request for a carryback
Non-capital loss at the end of the previous tax year
Deduct: Non-capital loss expired *
Non-capital losses at the beginning of the tax year
Add: Non-capital losses transferred on the amalgamation or the wind-up of a
subsidiary corporation
Current-year non-capital loss (from calculation above)
Deduct:
Other adjustments (includes adjustments for an acquisition of control)
Section 80 - Adjustments for forgiven amounts
Deduct:
Amount applied against taxable income (enter on line 331 of the T2 return)
Amount applied against taxable dividends subject to Part IV tax
56,000
100
102
56,000
105
110
56,000
150
140
130
135
56,000
56,000
Subtotal
Deduct - Request to carry back non-capital loss to:
First previous tax year to reduce taxable income
Second previous tax year to reduce taxable income
Third previous tax year to reduce taxable income
First previous tax year to reduce taxable dividends subject to Part IV tax
Second previous tax year to reduce taxable dividends subject to Part IV tax
Third previous tax year to reduce taxable dividends subject to Part IV tax
Non-capital losses - Closing balance
901
902
903
911
912
913
180
* A non-capital loss expires as follows:
After 7 tax years if it arose in a tax year ending before March 23, 2004;
After 10 tax years if it arose in a tax year ending after March 22, 2004, and before 2006; or
After 20 tax years if it arose in a tax year ending after 2005.
An allowable business investment loss becomes a net capital loss as follows:
After 7 tax years if it arose in a tax year ending before March 23, 2004;
After 10 tax years if it arose in a tax year ending after March 22, 2004.
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Corporation loss continuity and application
Election under paragraph 88(1.1)(f)
Paragraph 88(1.1)(f) election indicator
Loss from a wholly owned subsidiary deemed to be a loss of the parent from its immediately previous tax year.
190
Yes
Part 2 – Capital losses
Continuity of capital losses and request for a carryback
Capital losses at the end of the previous tax year
Capital losses transferred on the amalgamation or the wind-up
of a subsidiary corporation
Deduct:
Other adjustments (includes adjustments for an acquisition of control)
Section 80 - Adjustments for forgiven amounts
200
45,000
205
45,000
250
240
Subtotal
Add:
Current-year capital loss (from the calculation on Schedule 6)
210
Unused non-capital losses that expired in the tax year*
Allowable business investment losses (ABIL) that expired as non-capital
losses in the tax year**
Enter amount from line A or B, whichever is less
45,000
A
B
215
ABILs expired as non-capital loss:
divided by the inclusion rate***
line 215
220
Subtotal
45,000
Note: If there has been an amalgamation or a wind-up of a subsidiary, do a separate calculation of
the ABIL expired as non-capital loss for each predecessor or subsidiary. Add all these
amounts and enter the total at line 220 above.
Deduct: Amount applied against the current-year capital gain (see Note 1)
225
28,000
17,000
280
17,000
Subtotal
Deduct - Request to carry back capital loss to (see Note 2):
First previous tax year
Second previous tax year
Third previous tax year
Capital losses - Closing balance
951
952
953
Note 1
Enter the amount from line 225 multiplied by 50% on line 332 of the T2 return.
Note 2
On lines 225, 951, 952, or 953, whichever applies, enter the actual amount of the loss. When the loss is applied, multiply this amount by the 50% inclusion
rate.
* Enter the losses from the 8th previous tax year if the losses were incurred in a tax year ending before March 23, 2004. Enter the losses from the 11th
previous tax year if the losses were incurred in a tax year ending after March 22, 2004, and before 2006. Enter the losses from the 21st previous tax year if
the losses were incurred in a tax year ending after 2005. Enter the part that was not used in previous years and the current year on line A.
** Enter the losses from the 8th previous tax year if the losses were incurred in a tax year ending before March 23, 2004. Enter the losses from the 11th
previous tax year if the losses were incurred in a tax year ending after March 22, 2004. Enter the full amount on line B.
*** This inclusion rate is the rate used to calculate your ABIL referred to at line B. Therefore, use one of the following inclusion rates, whichever applies:
For ABILs incurred in the 1999 and previous tax years, use 0.75.
For ABILs incurred in the 2000 and 2001 tax years, the inclusion rate is equal to amount M on Schedule 6 - version T2SCH6(01).
For ABILs incurred in the 2002 and later tax years, use 0.50.
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Page 2 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
Schedule 5
Code 1001
TAX CALCULATION SUPPLEMENTARY - CORPORATIONS
Part 1 - Allocation of taxable income
100 402
Enter the Regulation that applies (402 to 413).
A
Jurisdiction
Tick Yes if the corporation had a
permanent establishment in the
jurisdiction during the tax year. *
Newfoundland
and Labrador
Newfoundland and
Labrador offshore
Prince Edward
Island
Nova Scotia
003
B
Total salaries and
wages paid in
jurisdiction
C
(B x taxable income**)
÷G
D
Gross revenue
attributable to
jurisdiction
103
143
104
144
105
145
107
147
108
148
109
149
111
151
113
153
115
155
117
157
119
159
121
161
123
163
125
165
126
166
127
167
E
(D x taxable income**)
÷H
F
Allocation of taxable
income
(C + E) x 1/2***
(where either G or H is
nil, do not multiply by
1/2)
1 Yes
004
1 Yes
005
1 Yes
007
1 Yes
008
Nova Scotia
offshore
New
Brunswick
Quebec
1 Yes
009
1 Yes
011
1 Yes
013
Ontario
1 Yes
015
Manitoba
1 Yes
017
Saskatchewan
1 Yes
Alberta
019
British
Columbia
Yukon
021
1,185,000
1 Yes
1 Yes
023
1 Yes
025
Northwest
Territories
Nunavut
1 Yes
026
1 Yes
027
Outside
Canada
1 Yes
Total
129
G
169
H
1,185,000
* "Permanent establishment" is defined in Regulation 400(2).
** Starting in 2009, if the corporation has income or loss from an international banking center; the taxable income is the amount on line 360 or line Z of the T2
return plus the total amount not required to be included, or minus the total amount not allowed to be deducted, in calculating the corporation's income
under section 33.1 of the federal Income Tax Act.
*** For corporations other than those described under Regulation 402, use the appropriate calculation described in the Regulations to allocate taxable
income.
Notes:
1. After determining the allocation of taxable income, you have to calculate the corporation's provincial or territorial tax payable. For
more information on how to calculate the tax for each province or territory, see the instructions for Schedule 5 in the T2 Corporation - Income Tax
Guide.
2. If the corporation has provincial or territorial tax payable, complete Part 2 on the following pages.
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Part 2 - Provincial and territorial tax payable, tax credits, and rebates
Newfoundland and Labrador
Newfoundland and Labrador tax before credits
200
Add: Newfoundland and Labrador offshore tax
Gross Newfoundland and Labrador tax
Deduct:
Newfoundland and Labrador political contribution tax credit
Contribution
891
Newfoundland and Labrador foreign tax credit (from Schedule 21)
Newfoundland and Labrador manufacturing and processing profits tax credit
(from Schedule 300)
Newfoundland and Labrador direct equity tax credit (from Schedule 303)
Newfoundland and Labrador resort property investment tax credit
(from Schedule 304)
Newfoundland and Labrador small business tax holiday *
Small business tax holiday certificate number
832
(from Form NLSBTH)
205
A1
500
501
503
505
507
511
Subtotal
Subtotal (amount A1 minus amount B1) (if negative, enter "0")
Add::
Newfoundland and Labrador capital tax on financial institutions
(from Schedule 305)
B1
C1
518
Total Newfoundland and Labrador tax payable before refundable credits (amount C1 plus amount on line 518)
(if negative, enter "0")
Deduct:
Newfoundland and Labrador research and development tax credit
(from Schedule 301)
Newfoundland and Labrador film and video industry tax credit
Certificate number
821
D1
520
521
Subtotal
E1
Net Newfoundland and Labrador tax payable or refundable credit (amount D1 minus amount E1)
(if a credit, enter amount in brackets) Include this amount on line 255.
209
F1
* The amount of Newfoundland and Labrador small business tax holiday cannot be more than the gross Newfoundland and Labrador tax minus all other Newfoundland and Labrador tax credits (including the
refundable credits).
Prince Edward Island
Prince Edward Island tax before credits
210
Deduct:
Prince Edward Island political contribution tax credit
Contribution
892
Prince Edward Island foreign tax credit (from Schedule 21)
Prince Edward Island corporate investment tax credit (from Schedule 321)
A2
525
528
530
Subtotal
Net Prince Edward Island tax payable (amount A2 minus amount B2) (if negative, enter "0")
Include this amount on line 255.
B2
214
C2
T2 SCH 5 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 2 of 7
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Part 2 - Provincial and territorial tax payable, tax credits, and rebates (continued)
Nova Scotia
Nova Scotia tax before credits (from Schedule 346)
215
Add:
Nova Scotia offshore tax (from Schedule 346)
Recapture of Nova Scotia research and development tax credit
(from Schedule 340)
Gross Nova Scotia tax
Deduct:
Nova Scotia political contribution tax credit
Contribution
893
Nova Scotia foreign tax credit (from Schedule 21)
Nova Scotia manufacturing and processing investment tax credit
(from Schedule 344)
Nova Scotia corporate tax reduction for new small businesses *
(from Schedule 341)
Certificate number
834
Manufacturing and processing investment tax credit (10%)
220
221
A3
550
554
561
556
Subtotal
B3
Total Nova Scotia tax payable before refundable credits (amount A3 minus amount B3) (if negative, enter "0")
Deduct:
Nova Scotia film industry tax credit **
Certificate number
836
Nova Scotia research and development tax credit (from Schedule 340)
Nova Scotia digital media tax credit **
Certificate number
838
C3
565
566
567
Subtotal
D3
Net Nova Scotia tax payable or refundable credit (amount C3 minus amount D3)
(if a credit, enter amount in brackets) Include this amount on line 255.
224
E3
* The amount of Nova Scotia corporate tax reduction for new small businesses cannot be more than the gross Nova Scotia tax minus all other Nova Scotia tax credits
(including the refundable credits).
** To claim the credit, file the original or a copy of the certificate with your T2 return.
New Brunswick
New Brunswick tax before credits (from Schedule 366)
225
Add:
Recapture of New Brunswick research and development tax credit
(from Schedule 360)
Gross New Brunswick tax
573
A4
Deduct:
New Brunswick political contribution tax credit
Contribution
894
New Brunswick foreign tax credit (from Schedule 21)
New Brunswick non-refundable research and development tax credit
(from Schedule 360)
575
576
577
Subtotal
B4
Total New Brunswick tax payable before refundable credits (amount A4 minus amount B4)
(if negative, enter "0")
Deduct:
New Brunswick film tax credit
Certificate number
850
New Brunswick refundable research and development tax credit
(from Schedule 360)
C4
595
597
Subtotal
Net New Brunswick tax payable or refundable credit (amount C4 minus amount D4)
(if a credit, enter amount in brackets) Include this amount on line 255.
D4
229
E4
T2 SCH 5 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 3 of 7
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Part 2 - Provincial and territorial tax payable, tax credits, and rebates (continued)
Ontario
(2009 and later tax years only)
Ontario basic income tax (from Schedule 500)
270
Deduct: Ontario small business deduction (from Schedule 500)
402
Subtotal (if negative, enter "0")
Add:
Surtax re Ontario small business deduction (from Schedule 500)
Ontario additional tax re Crown royalties (from Schedule 504)
Ontario transitional tax debits (from Schedule 506)
Recapture of Ontario research and development tax credit (from Schedule 508)
A6
272
274
276
277
Subtotal
Subtotal (amount A6 plus amount B6)
Deduct:
Ontario resource tax credit (from Schedule 504)
Ontario tax credit for manufacturing and processing (from Schedule 502)
Ontario foreign tax credit (from Schedule 21)
Ontario credit union tax reduction (from Schedule 500)
Ontario transitional tax credits (from Schedule 506)
Ontario political contribution tax credit (from Schedule 525)
B6
C6
404
406
408
410
414
415
Subtotal
D6
Subtotal (amount C6 minus amount D6) (if negative, enter "0")
E6
Ontario research and development tax credit (from Schedule 508)
416
Ontario corporate income tax payable before Ontario corporate minimum tax credit
(amount E6 minus amount on line 416) (if negative, enter "0")
F6
Deduct: Ontario corporate minimum tax credit (from Schedule 510)
418
Ontario corporate income tax payable (amount F6 minus amount on line 418) (if negative, enter "0")
Add:
Ontario corporate minimum tax (from Schedule 510)
Ontario special additional tax on life insurance corporations (from Schedule 512)
Ontario capital tax (from Schedule 514 or Schedule 515, whichever applies)
G6
278
280
282
Subtotal
H6
Total Ontario tax payable before refundable credits (amount G6 plus amount H6)
I6
Deduct:
Ontario qualifying environmental trust tax credit
Ontario co-operative education tax credit (from Schedule 550)
Ontario apprenticeship training tax credit (from Schedule 552)
Ontario computer animation and special effects tax credit (from Schedule 554)
Ontario film and television tax credit (from Schedule 556)
Ontario production services tax credit (from Schedule 558)
Ontario interactive digital media tax credit (from Schedule 560)
Ontario sound recording tax credit (from Schedule 562)
Ontario book publishing tax credit (from Schedule 564)
Ontario innovation tax credit (from Schedule 566)
Ontario business-research institute tax credit (from Schedule 568)
450
452
454
456
458
460
462
464
466
468
470
Subtotal
Net Ontario tax payable or refundable credit (amount I6 minus amount J6)
(if a credit, enter amount in brackets) Include this amount on line 255.
J6
290
K6
T2 SCH 5 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 4 of 7
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Part 2 - Provincial and territorial tax payable, tax credits, and rebates (continued)
Manitoba
Manitoba tax before credits (from Schedule 383)
230
Deduct:
Manitoba foreign tax credit (from Schedule 21)
Manitoba manufacturing investment tax credit (from Schedule 381)
Manitoba research and development tax credit (from Schedule 380)
Manitoba co-op education and apprenticeship tax credit (from Schedule 384)
Manitoba odour-control tax credit (from Schedule 385)
Manitoba small business venture capital tax credit (from Schedule 387)
A7
601
605
606
603
607
608
Subtotal
Total Manitoba tax payable before refundable credits (amount A7 minus amount B7) (if negative, enter "0")
Deduct:
Manitoba cooperative development tax credit
Manitoba refundable research and development tax credit (from Schedule 380)
Manitoba interactive digital media tax credit
Manitoba book publishing tax credit (from Schedule 389)
Manitoba green energy equipment tax credit
Manitoba film and video production tax credit *
Certificate number
856
Manitoba refundable manufacturing investment tax credit (from Schedule 381)
Manitoba refundable co-op education and apprenticeship tax credit
(from Schedule 384)
Manitoba refundable odour-control tax credit for agricultural corporations
(from Schedule 385)
B7
C7
612
613
614
615
619
620
621
622
623
Subtotal
D7
Net Manitoba tax payable or refundable credit (amount C7 minus amount D7)
(if a credit, enter amount in brackets) Include this amount on line 255.
234
E7
* If you received a certificate from the Manitoba Department of Finance it should be claimed on line 620. If you have more than one certificate, use Schedule 382. If the certificate was issued by Manitoba
Film and Sound Recording Development Corporation, complete Schedule 388, Manitoba Film and Video Production Tax Credit, to calculate the amount of the credit and enter your claim on line 620.
Saskatchewan
Saskatchewan tax before credits (from Schedule 411)
235
Deduct:
Saskatchewan political contribution tax credit
Contribution
890
Saskatchewan foreign tax credit (from Schedule 21)
Saskatchewan manufacturing and processing profits tax reduction
(from Schedule 404)
Saskatchewan manufacturing and processing investment tax credit
(from Schedule 402)
Saskatchewan research and development tax credit (from Schedule 403)
Saskatchewan royalty tax rebate (from Schedule 400)
104,700 A8
624
625
626
10,453
630
631
632
Subtotal
10,453
Total Saskatchewan tax payable before refundable credits (amount A8 minus amount B8)
(if negative, enter "0")
Deduct:
Saskatchewan qualifying environmental trust tax credit
Saskatchewan film employment tax credit
Certificate number
860
Saskatchewan refundable manufacturing and processing investment tax credit
(from Schedule 402)
Saskatchewan refundable research and development tax credit (from Schedule 403)
Subtotal
Net Saskatchewan tax payable or refundable credit (amount C8 minus amount D8)
(if a credit, enter amount in brackets) Include this amount on line 255.
10,453 B8
94,247 C8
641
643
644
645
D8
239
94,247 E8
T2 SCH 5 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 5 of 7
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Part 2 - Provincial and territorial tax payable, tax credits, and rebates (continued)
British Columbia
British Columbia tax before credits (from Schedule 427)
240
Add:
Recapture of British Columbia scientific research and experimental development
(SR&ED) tax credit (from Form T666)
Gross British Columbia tax
241
A10
Deduct:
British Columbia foreign tax credit (from Schedule 21)
British Columbia logging tax credit
British Columbia political contribution tax credit
Contribution
896
British Columbia small business venture capital tax credit
Credit at the end of previous tax year
880
Current-year credit
881
Certificate number (from SBVC 10)
882
British Columbia manufacturing and processing tax credit (from Schedule 426)
British Columbia SR&ED non-refundable tax credit (from Form T666)
650
651
653
656
660
659
Subtotal
B10
Total British Columbia tax payable before refundable credits (amount A10 minus amount B10)
(if negative, enter "0")
C10
Deduct:
British Columbia qualifying environmental trust tax credit
British Columbia film and television tax credit (from Form T1196)
British Columbia production services tax credit (from Form T1197)
British Columbia mining exploration tax credit (from Schedule 421)
British Columbia SR&ED refundable tax credit (from Form T666)
British Columbia book publishing tax credit (amount on line 886 multiplied by 90%)
Base amount of Publishing support *
886
contributions received in the tax year
British Columbia training tax credit (from Schedule 428)
British Columbia interactive digital media tax credit (from Schedule 429)
670
671
672
673
674
665
679
680
Subtotal
D10
Net British Columbia tax payable or refundable credit (amount C10 minus amount D10)
(if a credit, enter amount in brackets) Include this amount on line 255.
244
E10
245
A11
* Previously Book Publishing Industry Development Program.
Yukon
Yukon tax before credits (from Schedule 443)
Deduct:
Yukon political contribution tax credit
Contribution
897
Yukon foreign tax credit (from Schedule 21)
Yukon manufacturing and processing profits tax credit (from Schedule 440)
675
676
677
Subtotal
B11
Total Yukon tax payable before refundable credits (amount A11 minus amount B11) (if negative, enter "0")
Deduct:
Yukon mineral exploration tax credit (from Schedule 441)
Yukon research and development tax credit (from Schedule 442)
C11
697
698
Subtotal
Net Yukon tax payable or refundable credit (amount C11 minus amount D11)
(if a credit, enter amount in brackets) Include this amount on line 255.
D11
249
E11
T2 SCH 5 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 6 of 7
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Part 2 - Provincial and territorial tax payable, tax credits, and rebates (continued)
Northwest Territories
Northwest Territories tax before credits
250
Deduct:
Northwest Territories political contribution tax credit
Contribution
898
Northwest Territories foreign tax credit (from Schedule 21)
Northwest Territories investment tax credit (from Schedule 460)
A12
700
701
705
Subtotal
B12
Net Northwest Territories tax payable (amount A12 minus amount B12) (if negative, enter "0")
Include this amount on line 255.
254
C12
260
A13
Nunavut
Nunavut tax before credits
Deduct:
Nunavut political contribution tax credit
Contribution
899
Nunavut foreign tax credit (from Schedule 21)
Northwest Territories investment tax credit on investments made
before April 1, 1999 (from Schedule 460)
Nunavut investment tax credit (from Schedule 480)
725
730
734
735
Subtotal
B13
Total Nunavut tax payable before refundable credits (amount A13 minus amount B13) (if negative, enter "0")
Deduct:
Nunavut business training tax credit (from Schedule 490)
Net Nunavut tax payable (amount C13 minus amount D13)
(if a credit, enter amount in brackets) Include this amount on line 255.
C13
740
D13
264
E13
Summary
Enter the total net tax payable or refundable credits for all provinces and territories on line 255.
Net provincial and territorial tax payable or refundable credits
255
94,247
If the amount on line 255 is positive, enter the net provincial and territorial tax payable on line 760 on page 8 of the T2 return.
If the amount on line 255 is negative, enter the net provincial and territorial refundable tax credits on line 812 on page 8 of the T2 return.
T2 SCH 5 E (10) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 7 of 7
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
Schedule 411
SASKATCHEWAN CORPORATION TAX CALCULATION
Use this schedule if your corporation had a permanent establishment (as defined in section 400 of the federal Income Tax Regulations) in Saskatchewan
and had taxable income earned in the year in Saskatchewan.
This schedule is a worksheet only and does not have to be filed with your T2 Corporation Income Tax Return.
Part 1 — Calculation of income subject to Saskatchewan lower and higher tax rates
Period before July 1, 2007
If there are days in the tax year in the period mentioned above, calculate the income subject to Saskatchewan lower and higher tax rates as follows:
Taxable income for Saskatchewan *
A1
Income eligible for Saskatchewan lower tax rate:
Amount from line 400 of the T2 return **
Amount from line 405 of the T2 return
Amount from line 425 of the T2 return
x
=
B1
C1
D1
E1
Amount B1, C1, or D1, whichever is the least
For credit unions only:
Amount from line D of Schedule 17,
Credit Union Deductions
Deduct: amount E1 above
Excess (if negative, enter "0")
F1
Total of amounts E1 and F1
Amount G1
x
taxable income for Saskatchewan *
taxable income for all provinces ***
G1
=
H1
I1
Income subject to Saskatchewan higher tax rate (amount A1 minus amount H1)
Enter amount H1 and/or amount I1 on the applicable line(s) in Part 3.
Period after June 30, 2007 and before July 1, 2008
If there are days in the tax year in the period mentioned above, calculate the income subject to Saskatchewan lower and higher tax rates as follows:
Taxable income for Saskatchewan *
A2
Income eligible for Saskatchewan lower tax rate:
Amount from line 400 of the T2 return **
Amount from line 405 of the T2 return
Amount from line 425 of the T2 return
x
=
B2
C2
D2
E2
Amount B2, C2, or D2, whichever is the least
For credit unions only:
Amount from line D of Schedule 17,
Credit Union Deductions
Deduct: amount E2 above
Excess (if negative, enter "0")
Total of amounts E2 and F2
Amount G2
x
taxable income for Saskatchewan *
taxable income for all provinces ***
F2
G2
=
H2
I2
Income subject to Saskatchewan higher tax rate (amount A2 minus amount H2)
Enter amount H2 and/or amount I2 on the applicable line(s) in Part 3.
* If the corporation has a permanent establishment only in Saskatchewan, enter the taxable income from line 360 of the T2 return. Otherwise, enter the taxable income
allocated to Saskatchewan from column F in Part 1 of Schedule 5, Tax Calculation Supplementary – Corporations.
** If the corporation is a member of a partnership, complete Part 2 to calculate income from active business.
*** Includes the territories and the offshore jurisdictions for Nova Scotia and Newfoundland and Labrador.
T2 SCH 411 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 1 of 4
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
SASKATCHEWAN CORPORATION TAX CALCULATION
Period after June 30, 2008
If there are days in the tax year in the period mentioned above, calculate the income subject to Saskatchewan lower and higher tax rates as follows:
Taxable income for Saskatchewan *
1,185,000 A3
Income eligible for Saskatchewan lower tax rate:
Amount from line 400 of the T2 return
Amount from line 405 of the T2 return
Amount from line 425 of the T2 return
500,000 x
500,000 =
500,000
500,000 E3
Amount B3, C3, or D3, whichever is the least
For credit unions only:
Amount from line D of Schedule 17,
Credit Union Deductions
Deduct: amount E3 above
500,000
Excess (if negative, enter "0")
Total of amounts E3 and F3
Amount G3
1,159,000 B3
1,185,000 C3
500,000 D3
500,000 x
taxable income for Saskatchewan *
taxable income for all provinces ***
Income subject to Saskatchewan higher tax rate (amount A3 minus amount H3)
F3
500,000 G3
1,185,000 =
1,185,000
500,000 H3
685,000 I3
Enter amount H3 and/or amount I3 on the applicable line(s) in Part 3.
* If the corporation has a permanent establishment only in Saskatchewan, enter the taxable income from line 360 of the T2 return. Otherwise, enter the taxable income
allocated to Saskatchewan from column F in Part 1 of Schedule 5, Tax Calculation Supplementary – Corporations.
** If the corporation is a member of a partnership, complete Part 2 to calculate income from active business.
*** Includes the territories and the offshore jurisdictions for Nova Scotia and Newfoundland and Labrador.
T2 SCH 411 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 2 of 4
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
SASKATCHEWAN CORPORATION TAX CALCULATION
Part 2 — Calculation of income from active business when there is partnership income
Period before July 1, 2007
If there are days in the tax year in this period, calculate the income from active business as follows:
Net amount on line RR from Part 5 of Schedule 7, Calculation of Aggregate Investment Income and
Active Business Income
J1
Deduct partnership income:
Amount II from Part 4 of Schedule 7
K1
L1
M1
N1
O1
Amounts from
column E in Part 3 of
Schedule 7
Amounts from
column G in Part 3 of
Schedule 7 x 400,000 ÷
business limit
Column L1 minus column M1
(if negative, enter "0")
Lesser of columns L1 and M1
(if column L1 is negative, enter
"0")
Totals P1
Q1
Amount on line 370 from Part 3 of Schedule 7
Amount on line 380 from Part 3 of Schedule 7
Subtotal (amount R1 plus amount S1)
Enter amount P1 or amount T1, whichever is less
Specified partnership income (amount Q1 plus amount U1)
Partnership income (amount K1 minus amount V1)
R1
S1
T1
U1
V1
W1
Income from active business in this period (amount J1 minus amount W1)
X1
Enter the amount from line X1 on line B1 in Part 1.
Period after June 30, 2007 and before July 1, 2008
If there are days in the tax year in this period, calculate the income from active business as follows:
Net amount on line RR from Part 5 of Schedule 7, Calculation of Aggregate Investment Income and
Active Business Income
J2
Deduct partnership income:
Amount II from Part 4 of Schedule 7
K2
L2
M2
N2
O2
Amounts from
column E in Part 3 of
Schedule 7
Amounts from
column G in Part 3 of
Schedule 7 x 450,000 ÷
business limit
Column L2 minus column M2
(if negative, enter "0")
Lesser of columns L2 and M2
(if column L2 is negative, enter
"0")
Totals P2
Amount on line 370 from Part 3 of Schedule 7
Amount on line 380 from Part 3 of Schedule 7
Subtotal (amount R2 plus amount S2)
Enter amount P2 or amount T2, whichever is less
Specified partnership income (amount Q2 plus amount U2)
Partnership income (amount K2 minus amount V2)
Q2
R2
S2
T2
Income from active business in this period (amount J2 minus amount W2)
U2
V2
W2
X2
Enter the amount from line X2 on line B2 in Part 1.
T2 SCH 411 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 3 of 4
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
SASKATCHEWAN CORPORATION TAX CALCULATION
Part 3 — Calculation of Saskatchewan tax before credits
Saskatchewan tax at the lower rate:
Amount H1
Amount H2
Amount H3
x
Number of days in the tax year
before July 1, 2007
Number of days in the tax year
Number of days in the tax year after
June 30, 2007 and
x
before July 1, 2008
Number of days in the tax year
500,000 x
Number of days in the tax year
after June 30, 2008
Number of days in the tax year
x
4.5 % =
AA
x
4.5 % =
BB
365 x
365
4.5 % =
22,500 CC
365
365
Total Saskatchewan tax at the lower rate (total of amounts AA to CC)
22,500
22,500 DD
Saskatchewan tax at the higher rate:
Amount I1
Amount I2
Amount I3
x
Number of days in the tax year
before July 1, 2007
Number of days in the tax year
Number of days in the tax year after
June 30, 2007 and
x
before July 1, 2008
Number of days in the tax year
685,000 x
Number of days in the tax year
after June 30, 2008
Number of days in the tax year
x
14.0 % =
EE
x
13.0 % =
FF
365 x
365
12.0 % =
365
365
Total Saskatchewan tax at the higher rate (total of amounts EE to GG)
Saskatchewan tax before credits (amount DD plus amount HH) *
82,200 GG
82,200
82,200 HH
104,700 II
* If the corporation has a permanent establishment in more than one jurisdiction or is claiming a Saskatchewan tax credit, enter amount II on line 235 of
Schedule 5. Otherwise, enter it on line 760 of the T2 return.
T2 SCH 411 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 4 of 4
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
Schedule 6
SUMMARY OF DISPOSITIONS OF CAPITAL PROPERTY
•
•
For use by corporations that have disposed of capital property or claimed an allowable business investment loss, or both, in the tax year.
Use this schedule to make a designation under paragraph 111(4)(e) of the federal Income Tax Act, if the control of the corporation has been acquired by
a person or group of persons.
For more information, see the section called "Schedule 6, Summary of Dispositions of Capital Property" in the T2 Corporation - Income Tax Guide.
Designation under paragraph 111(4)(e) of the Income Tax Act
Are any dispositions shown on this schedule related to deemed dispositions designated under paragraph 111(4)(e)?
050
Yes
No X
If Yes, attach a statement specifying which properties are subject to such a designation.
1
Types of capital property
2
Date of
acquisition
3
Proceeds of
disposition
4
Adjusted cost base
(ACB)
5
Outlays and
expenses
(dispositions)
6
Gain (or loss)
(3 - (4 + 5))
Date
Proceeds
ACB
Outlays
Gain (or loss)
110
120
130
140
150
Part 1 – Shares
No. of shares
Name of corporation
100
105
Class of shares
106
Totals
Total adjustment under subsection 112(3) of the ITA to all losses identified in Part 1
160
A
Actual gain or loss from the disposition of shares (total of line 150 plus line 160)
Part 2 – Real estate - Do not include losses on depreciable property
1 Address:
City
Regina
2 Address:
Municipal address
200
1783 Hamilton St.- land
Province Country
SK
CA
1783 Hamilton St. - building
City
Province Country
Regina
Address:
SK
City
Province Country
CA
Date
210
2001-08-28
Proceeds
220
120,000
ACB
230
100,000
2001-08-28
672,000
664,000
Outlays
240
Gain (or loss)
250
20,000
Postal
code
S4P 2B6
8,000
Postal
code
S4P 2B6
Postal
code
___ ___
Totals
792,000
B
764,000
28,000
Part 3 – Bonds
Face value
300
Maturity date
305
Name of issuer
307
Date
310
Totals
Proceeds
320
ACB
330
Outlays
340
Gain (or loss)
350
C
T2 SCH 6 E (08) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 1 of 2
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
SUMMARY OF DISPOSITIONS OF CAPITAL PROPERTY
Part 4 – Other properties - Do not include losses on depreciable property
Description
400
Date
410
Proceeds
420
ACB
430
Outlays
440
Gain (or loss)
450
D
Totals
Part 5 – Personal-use property (Do not include listed personal property)
Description
500
Date
510
Proceeds
520
ACB
530
Outlays
540
Gain only
550
E
Totals
Note: Losses are not deductible.
Part 6 – Listed personal property
Description
600
Date
610
Proceeds
620
ACB
630
Outlays
640
Gain (or loss)
650
Totals
Subtract: Unapplied listed personal property losses from other years 655
Amount from line 655 is from line 530 in Part 5 of Schedule 4
Net gains (or losses)
F
Note: Net listed personal property losses may only be applied against listed personal property gains.
Part 7 – Determining allowable business investment losses
Property qualifying for and resulting in an allowable business investment loss
Name of small business corporation
900
Shares
or debt
905
Date
Proceeds
ACB
Outlays
(Loss)
910
920
930
940
950
G
Totals
Note: Properties listed in Part 7 should not be included in any other parts of Schedule 6.
Allowable business investment losses
Enter amount H on line 406 of Schedule 1.
X
Amount G
50.0000 % =
H
Part 8 – Determining capital gains or losses
I
Total of amounts A to F (do not include F if the amount is a loss)
Add:
Capital gains dividend received in the year
Capital gains reserve opening balance (from Schedule 13)
28,000
875 J
880 K
L
28,000
885 M
890
28,000
N
28,000
S
T
28,000
50.0000 % = U
14,000
Subtotal (add amounts I, J, and K)
Deduct: Capital gains reserve closing balance (from Schedule 13)
Capital gains or losses (amount L minus amount M)
Part 9 – Determining taxable capital gains and total capital losses
Capital gains or losses (amount from line 890 above)
Deduct the following gains that are included in the amount N:
Gain on donation of a share, debt obligation, or right listed on a designated stock exchange and other
amounts under paragraph 38(a.1) of the Income Tax Act
realized prior to May 2, 2006
realized after May 1, 2006
O
P
x 1/2 =
Subtotal: O plus P 895
Gain on donation of ecologically sensitive land
realized prior to May 2, 2006
realized after May 1, 2006
Q
R
x 1/2 =
Subtotal: Q plus R 896
Total: line 895 plus line 896
Amount N minus amount S
Total capital losses: If amount T is a loss, enter it on line 210 of Schedule 4.
Taxable capital gains: If amount T is a gain, enter it on this line and multiply
Enter amount U on line 113 of Schedule 1.
28,000 X
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Page 2 of 2
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
SCHEDULE 7
Code 0901
CALCULATION OF AGGREGATE INVESTMENT INCOME AND ACTIVE BUSINESS INCOME
This schedule is for the use of Canadian-controlled private corporations to calculate:
- aggregate investment income and foreign investment income for the purpose of determining the refundable portion of Part I tax, as defined in
subsection 129(4) of the Income Tax Act;
- specified partnership income for members of one or more partnership(s); and
- income from an active business carried on in Canada for the small business deduction.
For more information, see the sections called "Small Business Deduction" and "Refundable Portion of Part I Tax" in the T2 Corporation - Income Tax
Guide.
Details of property income (losses)
Foreign
Taxable dividends deductible from Schedule 3
Related expenses
Taxable dividends deductible after deducting related expenses
Aggregate
36,000
=
=
Capital cost allowance
Net rental income (loss)
=
=
Exempt income
Amounts received from NISA Fund No. 2
Business income from an interest in a trust that is considered property income under
paragraph 108(5)(a) of the Income Tax Act
Interest and other property income:
Interest on 5 year bonds
+
+
+
+
+
+
+
+
=
+
+
=
36,000
Net rental income (loss) before CCA:
Subtotal
Total income (losses) from property
97,000
133,000
Part 1 – Aggregate investment income calculation
The aggregate investment income is the aggregate world source income.
The eligible portion of taxable capital gains included in income for the year
002
Deduct:
Eligible portion of allowable capital losses for the year (including allowable business
investment losses)
012
Net capital losses of other years claimed on line 332 on the T2 return
022
Amount B plus amount C
14,000 A
B
14,000 C
14,000
14,000 D
Amount A minus amount D (if negative, enter "0")
Total income from property (include income from a specified investment business carried on in Canada
other than income from a source outside Canada)
0 E
032
133,000 F
Deduct:
Exempt income
042
G
Amounts received from NISA Fund No. 2 that were included in computing the
corporation's income for the year
052
H
Taxable dividends deductible (total of Column E on Schedule 3)
062
36,000 I
Business income from an interest in a trust that is considered
property income under paragraph 108(5)(a)
072
J
Total of amounts G to J
36,000
36,000 K
Amount F minus amount K
97,000 L
Amount E plus amount L
97,000 M
Total losses from property (include losses from a specified investment business carried on in Canada other
than a loss from a source outside Canada)
082
N
Amount M minus amount N (if negative, enter "0")
092
97,000 O
Enter amount O on line 440 of the T2 return.
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Page 1 of 3
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
CALCULATION OF AGGREGATE INVESTMENT INCOME AND ACTIVE BUSINESS INCOME
Part 2 - Foreign investment income calculation
The foreign investment income is all income from only sources outside of Canada.
The eligible portion of taxable capital gains included in income for the year
001
P
Eligible portion of allowable capital losses for the year (including allowable business investment losses)
009
Q
Amount P minus amount Q (if negative, enter "0")
Total income from property from a source outside Canada
0 R
019
S
Deduct:
Exempt income
029
T
Taxable dividends deductible (total of Column E on Schedule 3)
049
U
059
V
Business income from an interest in a trust that is considered property income
under paragraph 108(5)(a)
Total of amounts T to V
W
Amount S minus amount W
X
Amount R plus amount X
Y
Total losses from property from a source outside Canada
069
Z
Amount Y minus amount Z (if negative, enter "0")
Enter amount AA on line 445 of the T2 return
079
0 AA
B
C
Total income (loss) of
partnership from an active
business
Corporation's share of
amount in column B
300
310
Part 3 - Specified partnership income
A
Partnership name
Start of fiscal period
End of fiscal period
200
D
E
Adjustments [add prior-year
reserves under subsection
34.2(5),and deduct expenses
incurred to earn partnership
income, including any reserve
under subsection 34.2(4)]
F
Corporation's income (loss) of Number of days
the partnership
in the
(column C plus column D)
partnership's
fiscal period
315
320
325
Total 350
G
H
I
Prorated business limit
(column C ÷ column B) x
[business limit* x
(column F ÷ 365)]
(if column C is negative,
enter "0")**
Column E minus column G
(if negative, enter "0")
Lesser of columns E and G
(if column E is negative,
enter "0")
330
340
Total 385
Corporation's losses for the year from an active business carried on in Canada (other than
370
as a member of a partnership) - enter as a positive amount
Specified partnership loss of the corporation for the year - enter as a positive amount (total of
380
all negative amounts in column E)
Amount BB plus amount CC
Amount at line 385 or line DD, whichever is less
Specified partnership income (line 360 plus amount EE)
360
BB
CC
DD
390
400
EE
FF
* Use one of the following business limits to calculate column G, whichever applies:
$300,000 if the corporation's tax year ends in 2006;
$400,000 if the corporation's tax year ends in 2007 or 2008; or
$500,000 if the corporation's tax year ends after 2008.
** When a partnership carries on more than one business, one of which generates income and another of which realizes a loss, the loss is not netted
against the partnership's income.
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Page 2 of 3
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
CALCULATION OF AGGREGATE INVESTMENT INCOME AND ACTIVE BUSINESS INCOME
Part 4 - Determination of partnership income
Corporation's share of partnership income from active businesses carried on in Canada after deducting related expenses
- from line 350 above in Part 3 (if the net amount is negative, enter "0" on line KK)
GG
Plus:
Specified partnership loss (from amount CC in Part 3)
HH
Subtotal
II
Deduct:
Specified partnership income (from amount FF in Part 3)
JJ
Partnership income (enter on line SS in Part 5)
450
KK
Part 5 - Income from active business carried on in Canada
Net income for income tax purposes from line 300 of the T2 return
1,306,000 LL
Deduct:
Foreign business income after deducting related expenses *
500
Taxable capital gains minus allowable capital loss
(amount A minus amount B* in Part 1)**
MM
14,000 NN
Net property income (amount F minus amounts G, H, and N * in Part 1)
Personal services business income after deducting related expenses *
133,000 OO
520
Total of amounts MM to PP
Net amount (line LL minus line QQ)
PP
147,000
147,000 QQ
1,159,000 RR
Deduct:
Partnership income (line KK in Part 4)
Income from active business carried on in Canada
(enter on line 400 of the T2 return - if negative, enter "0")
SS
1,159,000 TT
* If negative, enter amount in brackets, and add instead of subtracting.
** This amount may only be negative to the extent of any allowable business investment losses.
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Page 3 of 3
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agence du revenu
Agency
du Canada
Schedule 8
CAPITAL COST ALLOWANCE
For more information, see the section called "Capital Cost Allowance" in the T2 Corporation Income Tax Guide.
Is the corporation electing under regulation 1101(5q)?
1
Class
2
UCC at start of
year
200
201
3
Cost of
additions in
the year
203
101 1 Yes
4
Net
adjustments
2 No X
9
8
7
5
Proceeds of Adjustment for Base amount for Rate
%
CCA
dispositions in additions (1/2 x
(col 3 - 5))
the year
212
211
207
10
Recapture
of CCA
213
13
12
11
Terminal loss CCA for the year UCC at the end
of the year
(col 8 x 9 or a
lower amount)
220
217
215
205
1
2
3
4
5
8
10
43
29
1
Totals
905,000
800,000
2,100,000
664,000
905,000
800,000
2,100,000
100,000
(150,000)
664,000
3,755,000
100,000
514,000
4,319,000
100,000
T2 SCH 8 (99) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
20
30
30
NA
4
NA
181,000
240,000
630,000
25,000
724,000
560,000
1,470,000
75,000
1,076,000
2,829,000
150,000
150,000
Page 1 of 1
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Customs
and Revenue Agency
Agence des douanes
et du revenu du Canada
CUMULATIVE ELIGIBLE CAPITAL DEDUCTION
Schedule 10
Part 1 - Calculation of current year deduction and carry-forward
Cumulative eligible capital - Balance at the end of the preceding taxation year (if negative, enter "0")
Add: Cost of eligible capital property acquired
222
during the taxation year
Other adjustments
226
Subtotal (line 222 plus line 226)
x 3/4 =
200
90,000 A
224
230
D
E
90,000 F
248
J
B
Non-taxable portion of a non-arm's length
transferor's gain realized on the transfer of
an eligible capital property to the corporation
after December 20, 2002
228
x 1/2 =
C
amount B minus amount C (if negative, enter "0")
Amount transferred on amalgamation or wind-up of subsidiary
Subtotal (add amounts A, D, and E)
Deduct: Proceeds of sale (less outlays and expenses not otherwise
deductible) from the disposition of all eligible capital property
242
G
during the taxation year
The gross amount of a reduction in respect of a forgiven debt
obligation as provided for in subsection 80(7)
244
H
246
I
Other adjustments
(add amounts G, H, and I)
x 3/4 =
Cumulative eligible capital balance (amount F minus amount J)
(if amount K is negative, enter "0" at line M and proceed to Part 2)
Cumulative eligible capital for a property no longer owned after ceasing to carry
249
on that business
amount K
90,000
less amount from line 249
90,000 x 7% =
250
6,300 *
Current year deduction
6,300
(line 249 plus line 250) (enter this amount at line 405 of Schedule 1)
Cumulative eligible capital – Closing balance (amount K minus amount L) (if negative, enter "0")
*
90,000 K
300
6,300 L
83,700 M
You can claim any amount up to the maximum deduction of 7%. The deduction may not exceed the maximum amount prorated by the number of
days in the taxation year divided by 365.
Part 2 – Amount to be included in income arising from disposition
Amount from line K (show as positive amount)
Total of cumulative eligible capital (CEC) deductions from income for
taxation years beginning after June 30, 1988
Total of all amounts which reduced CEC in the current or prior years under
subsection 80 (7)
Total of CEC deductions claimed for taxation years
402
beginning before July 1, 1988
Negative balances in the CEC account that were
included in income for taxation years beginning
408
before July 1, 1988
Line 3 minus line 4 (if negative, enter "0")
Total of lines 1, 2, and 5
Amounts included in income under paragraph 14(1)(b), as
that paragraph applied to taxation years ending after
June 30, 1988 and before February 28, 2000, to the extent
that it is for an amount described at line 400
N
400
1
401
2
3
4
5
6
7
Amounts at line T from Schedule 10 of previous
taxation years ending after February 27, 2000
Subtotal (line 7 plus line 8) 409
Line 6 minus line 9 (if negative, enter "0")
Line N minus line O (if negative, enter "0")
8
9
Line 5
O
P
Q
R
S
T
x 1/2 =
Line P minus line Q (if negative, enter "0")
Amount R
Amount N or amount O, whichever is less
Amount to be included in income (amount S plus amount T) (enter this amount on line 108 of Schedule 1)
T2 SCH 10 (04) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
x
66.6667
410
Page 1 of 1
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
Schedule 27
Code 0501
CALCULATION OF CANADIAN MANUFACTURING AND PROCESSING PROFITS DEDUCTION
Small manufacturing corporations that meet requirements 1 through 4 in Part 1 of this schedule should complete Part 1 only. All other corporations should
complete Part 2 except those that only generate electrical energy for sale or produce steam for sale. Corporations that generate electrical energy for sale
or produce steam for sale must complete Part 10.
Income that is eligible for the small business deduction is not eligible for the manufacturing and processing profits deduction.
Sections, subsections, and paragraphs referred to in this schedule are found in the Income Tax Act and Income Tax Regulations.
See Interpretation Bulletin IT-145R, Canadian Manufacturing and Processing Profits - Reduced Rate of Corporate Tax, for more information.
Part 1 - Small manufacturing corporations
To qualify as a small manufacturer, the corporation has to meet all of the following requirements:
1. its activities during the year were mainly manufacturing or processing in Canada of goods for sale or lease;
2. the following calculation totals $200,000 or less:
active business income minus active business losses of the corporation for the year [this includes the corporation's
share of active business income and active business loss for the fiscal period of each partnership of which the
corporation was a member at any time in its year (see i) below)]
plus
the active business income for the tax year of each Canadian corporation with which the corporation was associated
in the year (see ii) below)
Subtotal
100
1,159,000
105
Total 110
1,159,000
3. it was not engaged at any time during the year in any activities as set out in Regulation 5201 (c) to (c.3).
4. the corporation did not carry on any active business outside Canada at any time during the year.
If the corporation meets requirements 1 through 4, its Canadian manufacturing and processing profits are equal to line 100 above. Enter this
amount on line 200 in Part 9 of this schedule.
If the corporation does not meet requirements 1 through 4, complete Part 2 below.
Partnerships and associated corporations
On a separate sheet of paper attached to this form, please give the following information (if it applies):
i) for partnerships - give the name, partnership identification number, and total income or loss from each active business carried on by each partnership of
which the corporation was a member at any time in its tax year; and
ii) for associated corporations - give the name, Business Number, and total income from each active business for the tax year carried on by each Canadian
corporation with which the corporation was associated in the year.
Part 2 - Corporations that do not qualify as small manufacturers
Canadian manufacturing and processing profits (MP)
ADJUBI
1,159,000
x
[ MC
[C
588,235
800,000
+ ML
+L
1,000,000 ]
1,000,000 ]
= (MP)
1,022,647
Enter amount MP on line 200 in Part 9 of this schedule.
Part 3 - Calculation of adjusted business income (ADJUBI)
Active business income minus active business losses of the corporation for the year [this includes the corporation's
share of active business income and active business loss for the fiscal period of each partnership of which the
corporation was a member at any time in its year (see i) in Part 1)]
Deduct:
Net resource income (amount U from Part 8)
Minus: Net resource adjustment per Regulation 5203(3.1)
Excess (if negative, enter "0")
Refund interest as defined in Regulation 5203(4)
120
1,159,000
A
125
Adjusted business income - enter this amount in Part 2, and Part 10 if applicable
(if negative, enter "0")
(ADJUBI) 130
1,159,000
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Page 1 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canadian Manufacturing and Processing Profits
Part 4 - Calculation of cost of capital (C)
Add: 1.
Gross cost of the following property that the corporation owned at the end of the year and used at any time during
the year:
- depreciable assets eligible for capital cost allowance under Schedule II
of the Regulations
6,000,000
- timber limits and cutting rights (other than a timber resource property)
- immovable wood assets (class 15)
- industrial mineral mines
- capital expenditures for scientific research and experimental
development
- Part XVII property
6,000,000 X 10%
600,000 B
2.
Rental cost for the use of property, which would be included in 1 if it were owned by the
corporation at the end of the year
200,000 C
3.
The corporation's share of the amounts that would be determined under 1 and 2 for a partnership
of which the corporation was a member at any time in the year, if one were to substitute
"partnership" for "corporation" and "its fiscal period" for "the year"
Cost of capital - enter this amount in Parts 2 and 5, and Parts 10 and 11 if applicable
D
(C) 140
800,000
Part 5 - Calculation of cost of manufacturing and processing capital (MC)
Cost of capital (from line 140, Part 4)
The part of amount E that reflects the extent to which each property was used directly in qualified activities of the
corporation during the year or in qualified activities of a partnership for the fiscal period of a partnership of which the
corporation was a member at any time in the year
Cost of manufacturing and processing capital: 100/85 of amount F (enter this amount in Part 2)
(MC) 150
800,000 E
500,000 F
588,235 *
* cannot be more than the amount E
Part 6 - Calculation of cost of labour (L)
1. Salaries and wages paid or payable to all employees for services performed during the year
Deduct:
Salaries and wages included above that were:
a) included in the gross cost of property (Part 4) other than property manufactured
and leased during the year to other persons
b) related to an active business carried on outside Canada
c) related to activities engaged in for the purpose of earning Canadian resource
profits as defined in Regulation 5202
d) included in the corporation's Canadian or foreign exploration and development
expenses
1,000,000 G
H
1,000,000 I
Add:
Salaries and wages referred to in 1, less the deductions in a) to d) for the fiscal period of a partnership of which the
corporation was a member at any time in its year - corporation's share (attach calculation)
Subtotal - salaries and wages
2. Amounts paid or payable during the year to non-employees for performing functions relating to:
a) management and administration
b) scientific research and experimental development
c) any service or function normally performed by employees of the corporation
Deduct:
Amounts included above that were:
d) included in the gross cost of property (Part 4), other than property manufactured
by the corporation and leased during the year to other persons
e) related to an active business carried on outside Canada
f) related to activities engaged in for the purpose of earning Canadian resource
profits as defined in Regulation 5202
g) included in the corporation's Canadian or foreign exploration and development
expenses
1,000,000 J
K
L
M
Add:
Amounts referred to in 2, less the deductions in d) to g) for the fiscal period of a partnership of which the
corporation was a member at any time in its year - corporation's share (attach calculation)
Subtotal - other payments
Cost of labour (amount J + amount O) - enter this amount in Part 2, and Part 10 if applicable
N
O
(L) 160
1,000,000
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Canadian Manufacturing and Processing Profits
Part 7 - Calculation of cost of manufacturing and processing labour (ML)
Part of salaries and wages (included in amount J, Part 6) that was paid or payable to employees for the time they
were directly engaged in qualified activities of the corporation during the year or of the partnership during its fiscal
period
Add:
Part of other payments (included in amount O, Part 6) that was paid or payable to non-employees for performing
functions that would be directly related to qualified activities of the corporation during the year or of the partnership
during its fiscal period, if they had been employees of the corporation or partnership
760,000 P
Total
(ML) 170
Cost of manufacturing and processing labour: 100/75 of amount R (enter this amount in Part 2)
Q
760,000 R
1,000,000 *
* cannot be more than the amount on line 160 in Part 6
Part 8 - Calculation of net resource income
For corporations with resource activities
Resource profits as defined in section 1204 of the Regulations for the year of the corporation (including its share of
resource profits as a member of a partnership under subsection 1206(3) of the Regulations)
Add:
Amounts included in income under section 59*, including its share of such amounts as a member of a partnership
Subtotal
S
Deduct:
Amounts deducted by the corporation under section 65**
The corporation's income from the processing of foreign ore
T
U
Net resource income - enter this amount on line A in Part 3
*
**
other than amounts that were included in calculating resource profits
other than amounts that were deducted in calculating resource profits
Part 9 - Manufacturing and processing profits deduction
For eligible corporations that have such profits
200
Canadian manufacturing and processing profits from Part 1 or Part 2, as applicable
Deduct the least of the amounts on lines 400, 405, 410, and 425 of the T2 return *
Taxable income from line 360 of the T2 return
Deduct the total of:
1. The least of the amounts on lines 400, 405, 410, and 425 of the T2 return *
2. Aggregate investment income from line 440 of the T2 return *
3. Foreign business income tax credit deductible at line
636** of the T2 return
1,022,647
500,000
522,647
1,185,000 W
500,000
97,000
x 3*** =
597,000
Lesser of
amounts V and Y
522,647 x
Lesser of
amounts V and Y
522,647 x
Lesser of
amounts V and Y
522,647 x
Lesser of
amounts V and Y
522,647 V
Number of days in the tax year before 2008
Number of days in the tax year
365
Number of days in the tax year in 2008
Number of days in the tax year
365
Number of days in the tax year in 2009
Number of days in the tax year
365
522,647 x
Number of days in the tax year in 2010
Number of days in the tax year
365
365
Lesser of
amounts V and Y
522,647 x
Number of days in the tax year in 2011
Number of days in the tax year
365
Lesser of
amounts V and Y
522,647 x
Number of days in the tax year after 2011
Number of days in the tax year
365
597,000 X
588,000 Y
x 7% =
1
x 8.5% =
2
x 9% =
3
x 10% =
52,265 4
x 11.5% =
5
x 13% =
6
Total general rate reduction percentage of the lesser of amounts V and Y (add: lines 1 to 6)
Add:
Amount RR from Part 13 if the corporation is also claiming a deduction for generating electrical energy for
sale or producing steam for sale
Manufacturing and processing profits deduction - Total of amounts Z and AA
Enter amount BB on line 616 of the T2 return.
52,265 Z
AA
52,265 BB
*
Applies only to corporations that were Canadian-controlled private corporations throughout the tax year.
** Calculate the amount of foreign business income tax credit without reference to the corporate tax reductions under section 123.4.
*** Under proposed changes, the foreign business income tax credit multiplier is "3".
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Page 3 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canadian Manufacturing and Processing Profits
Corporations that generate electrical energy for sale or produce steam for sale
A corporation that only generates electrical energy for sale, or produces steam for sale, will need to complete Part 10. If the corporation has other eligible
activities besides generating electrical energy or producing steam, it will need to complete Part 2 and Part 10.
Complete Part 10 using all manufacturing and processing profits, including generating electrical energy for sale or producing steam for sale.
Complete Part 2 using all eligible activities other than generating electrical energy for sale or producing steam for sale.
Part 10 - Corporations that generate electrical energy for sale or produce steam for sale
Canadian manufacturing and processing profits (MPA)
ADJUBI
1,159,000
x
[ MCA
[C
800,000
+ MLA
+L
]
1,000,000 ]
= (MPA)
Enter amount MPA on line 210 in Part 13 of this schedule.
Part 11 - Calculation of cost of all manufacturing and processing capital (MCA)*
Cost of capital (from line 140, Part 4)
The part of amount CC that reflects the extent to which each property was used directly in qualified activities of the
corporation during the year or qualified activities of a partnership during its fiscal period of which the corporation was a
member at any time in the year
Cost of manufacturing and processing capital: 100/85 of amount DD (enter this amount in Part 10)
(MCA)**
*
**
800,000 CC
DD
205
EE
includes capital used directly in generating electrical energy for sale or producing steam for sale
cannot be more than the amount CC
Part 12 - Calculation of cost of all manufacturing and processing labour (MLA)*
Part of salaries and wages (amount J, Part 6) that was paid or payable to employees for the time they were directly
engaged in qualified activities of the corporation during the year or of the partnership during its fiscal period
Add:
Part of other payments (amount O, Part 6) that was paid or payable to non-employees for performing functions that would
be directly related to qualified activities of the corporation during the year or of the partnership during its fiscal period, if
they had been employees of the corporation or partnership
Total
Cost of manufacturing and processing labour: 100/75 of amount HH (enter this amount in Part 10)
206
(MLA)**
*
includes labour used directly in generating electrical energy for sale or producing steam for sale
** cannot be more than the amount on line 160 in Part 6
FF
GG
HH
II
T2 SCH 27 E (08) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 4 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canadian Manufacturing and Processing Profits
Part 13 - Manufacturing and processing profits deduction for generating electrical energy for sale
or producing steam for sale
For eligible corporations that have profits from generating electrical energy for sale or producing steam for sale
Canadian manufacturing and processing profits from Part 10
Deduct the least of the amounts on lines 400, 405, 410, and 425 of the T2 return *
210
500,000 JJ
KK
1,185,000 LL
Taxable income from line 360 of the T2 return
Deduct the total of:
1. The least of the amounts on lines 400, 405, 410, and 425 of the T2 return *
2. Aggregate investment income from line 440 of the T2 return *
3. Foreign business income tax credit
deductible at line 636** of the T2 return
500,000
97,000
x 3*** =
597,000
597,000 MM
588,000 NN
OO
Lesser of amount KK and amount NN
Deduct:
Lesser of amount V and amount Y from Part 9****
522,647 PP
QQ
Amount QQ
Amount QQ
Amount QQ
x
x
x
Number of days in the tax year before 2008
Number of days in the tax year
365
Number of days in the tax year in 2008
Number of days in the tax year
365
Number of days in the tax year in 2009
Number of days in the tax year
365
Amount QQ
x
Number of days in the tax year in 2010
Number of days in the tax year
365
365
Amount QQ
x
Number of days in the tax year in 2011
Number of days in the tax year
365
Number of days in the tax year after 2011
Number of days in the tax year
365
Amount QQ
x
x 7% =
1
x 8.5% =
2
x 9% =
3
x 10% =
4
x 11.5% =
5
x 13% =
6
Manufacturing and processing profits deduction for generating electrical energy for sale or producing steam for
sale ***** (add: lines 1 to 6)
RR
*
**
***
****
Applies only to corporations that were Canadian-controlled private corporations throughout the tax year.
Calculate the amount of foreign business income tax credit without reference to the corporate tax reductions under section 123.4.
Under proposed changes, the foreign business income tax credit multiplier is "3".
Enter "0" if the corporation is only claiming a manufacturing and processing profits deduction for generating electrical energy for sale or producing
steam for sale.
***** If the corporation is also claiming a manufacturing and processing profits deduction for other eligible activities, enter amount RR on line AA of
Part 9. If the corporation is only claiming the deduction for generating electrical energy for sale or producing steam for sale, enter amount RR on
line 616 of the T2 return.
T2 SCH 27 E (08) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 5 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
SHAREHOLDER INFORMATION
Schedule 50
All private corporations must complete this schedule for any shareholder who holds 10% or more of the corporation's common and/or preferred shares.
Name of shareholder
Business Number
(after name, indicate in brackets if the shareholder (If a corporation is not
is a corporation, partnership, individual or trust)
registered, enter "NR") *
100
1 Jack Brown
200
_____ ____ RC ____
_____ ____ RC ____
Social Insurance
Trust Number
Percentage
Number *
(If a trust number is common shares
not available, enter
"NA") *
300
527 000 582
___ ___ ___
350
___ ____ __
___ ____ __
400
100.000
Percentage
preferred shares
500
* For a taxation year commencing before January 1, 2004, if the shareholder is a trust, enter NR at field 200 or NA at field 300. Do not enter a trust
number in field 350.
T2 SCH 50 (06) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 1 of 1
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
SCHEDULE 53
Code 0901
GENERAL RATE INCOME POOL (GRIP) CALCULATION
•
If you are a Canadian-controlled private corporation (CCPC) or a deposit insurance corporation (DIC), use this schedule to determine the general rate
income pool (GRIP).
• When an eligible dividend was paid in the tax year, file a completed copy of this schedule with your T2 Corporation Income Tax Return. Do not send
your worksheets with your return, but keep them in your records in case we ask to see them later.
• Subsections referred to in this schedule are from the Income Tax Act.
• Subsection 89(1) defines the terms eligible dividend, excessive eligible dividend designation, general rate income pool, and low rate income pool.
Part 1 – Calculation of general rate income pool (GRIP)
GRIP at the end of the previous tax year
Taxable income for the year (DICs enter "0")*
Income for the credit union deduction*
(amount E in Part 3 of Schedule 17)
Amount on line 400, 405, 410, or 425 of
the T2 return, whichever is less*
For a CCPC, the lesser of aggregate investment income
(line 440 of the T2 return) and taxable income *
110
120
0
130
500,000
140
97,000
Subtotal (add lines 120, 130 and 140)
597,000
Income taxable at the general corporate rate (line B minus line C)
150
After-tax income (line 150 x general rate factor for the tax year **
0.6900 )
200
Eligible dividends received in the tax year
Dividends deductible under section 113 received in the tax year
210
Subtotal (add lines 200 and 210)
GRIP addition:
220
Becoming a CCPC (line PP from Part 4)
Post-amalgamation (total of lines EE from Part 3 and lines PP from Part 4)
230
Post-wind-up (total of lines EE from Part 3 and lines PP from Part 4)
240
Subtotal (add lines 220, 230, and 240)
100
276,000 A
190
405,720 D
1,185,000 B
597,000 C
588,000
36,000
0
36,000
0
0
0
0
36,000 E
290
Subtotal (add lines A, D, E, and F)
Eligible dividends paid in the previous tax year
300
Excessive eligible dividend designations made in the previous tax year
310
Note: If becoming a CCPC (subsection 89(4) applies), enter "0" on lines 300 and 310.
Subtotal (line 300 minus line 310)
GRIP before adjustment for specified future tax consequences (line G minus line H) (amount can be negative)
Total GRIP adjustment for specified future tax consequences to previous tax years (amount W from Part 2)
GRIP at the end of the tax year (line 490 minus line 560)
Enter this amount on line 160 on Schedule 55.
0 F
717,720 G
0
0
0
0 H
490
560
590
717,720
0
717,720
* For lines 110, 120, 130 and 140, the income amount is the amount before considering specified future tax consequences. This phrase is defined in
subsection 248(1). It includes the deduction of a loss carryback from subsequent tax years, a reduction of Canadian exploration expenses and Canadian
development expenses that were renounced in subsequent tax years (e.g., flow-through share renunciations), reversals of income inclusions where an
option is exercised in subsequent tax years, and the effect of certain foreign tax credit adjustments.
** The general rate factor for a tax year is the total of 0.68 for any portion of the tax year that falls before 2010, 0.69 for any portion of the tax year that falls
in 2010, 0.70 for any portion of the tax year that falls in 2011, and 0.72 for any portion of the tax year that falls after 2011. Calculate the general rate
factor in Part 5 on page 5 for tax years that straddle these dates.
T2 SCH 53 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 1 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
GENERAL RATE INCOME POOL (GRIP) CALCULATION
Part 2 – GRIP adjustment for specified future tax consequences to previous tax years
Complete this part if the corporation's taxable income of any of the previous three tax years took into account the specified future tax consequences defined
in subsection 248(1) from the current tax year. Otherwise, enter "0" on line 560 of page 1.
First previous tax year
Taxable income before specified future tax consequences from
the current tax year
Enter the following amounts before specified future tax
consequences from the current tax year:
Income for the credit union deduction
0 K1
(amount E in Part 3 of Schedule 17)
Amount on line 400, 405, 410, or 425
0 L1
of the T2 return, whichever is less
Aggregate investment income
0 M1
(line 440 of the T2 return)
0
Subtotal (add lines K1, L1, and M1)
Subtotal (line J1 minus line N1) (if negative, enter "0")
Taxable income after specified future tax consequences
Enter the following amounts after specified future tax
consequences:
0 J1
0 N1
0
0 P1
Income for the credit union deduction
0 Q1
(amount E in Part 3 of Schedule 17)
Amount on line 400, 405, 410, or 425
0 R1
of the T2 return, whichever is less
Aggregate investment income
0 S1
(line 440 of the T2 return)
0
0 T1
Subtotal (add lines Q1, R1, and S1)
0
Subtotal (line P1 minus line T1) (if negative, enter "0")
Subtotal (line O1 minus line U1) (if negative, enter "0")
GRIP adjustment for specified future tax consequences to first previous tax year
0.6800 )
(line V1 multiplied by the general rate factor for the tax year
0 O1
0 U1
0 V1
500
0
520
0
Second previous tax year
Taxable income before specified future tax consequences from
the current tax year
Enter the following amounts before specified future tax
consequences from the current tax year:
Income for the credit union deduction
(amount E in Part 3 of Schedule 17)
Amount on line 400, 405, 410, or 425
of the T2 return, whichever is less
Aggregate investment income
(line 440 of the T2 return)
0 J2
0 K2
0 L2
0 M2
Subtotal (add lines K2, L2, and M2)
0
Subtotal (line J2 minus line N2) (if negative, enter "0")
Taxable income after specified future tax consequences
Enter the following amounts after specified future tax consequences:
0 N2
0
0 P2
Income for the credit union deduction
0 Q2
(amount E in Part 3 of Schedule 17)
Amount on line 400, 405, 410, or 425
0 R2
of the T2 return, whichever is less
Aggregate investment income
0 S2
(line 440 of the T2 return)
0
0 T2
Subtotal (add lines Q2, R2, and S2)
0
Subtotal (line P2 minus line T2) (if negative, enter "0")
Subtotal (line O2 minus line U2) (if negative, enter "0")
GRIP adjustment for specified future tax consequences to second previous tax year
0.6800 )
(line V2 multiplied by the general rate factor for the tax year
0 O2
0 U2
0 V2
T2 SCH 53 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 2 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
GENERAL RATE INCOME POOL (GRIP) CALCULATION
Part 2 – GRIP adjustment for specified future tax consequences to previous tax years (continued)
Third previous tax year
Taxable income before specified future tax consequences from
the current tax year
Enter the following amounts before specified future tax
consequences from the current tax year:
Income for the credit union deduction
0 K3
(amount E in Part 3 of Schedule 17)
Amount on line 400, 405, 410, or 425
0 L3
of the T2 return, whichever is less
Aggregate investment income
0 M3
(line 440 of the T2 return)
0
Subtotal (add lines K3, L3, and M3)
Subtotal (line J3 minus line N3) (if negative, enter "0")
Taxable income after specified future tax consequences
Enter the following amounts after specified future tax
consequences:
0 J3
0 N3
0
0 P3
Income for the credit union deduction
0 Q3
(amount E in Part 3 of Schedule 17)
Amount on line 400, 405, 410, or 425
of the T2 return, whichever is less
0 R3
Aggregate investment income
0 S3
(line 440 of the T2 return)
0
0 T3
Subtotal (add lines Q3, R3, and S3)
0
Subtotal (line P3 minus line T3) (if negative, enter "0")
Subtotal (line O3 minus line U3) (if negative, enter "0")
GRIP adjustment for specified future tax consequences to third previous tax year
0.6800 )
(line V3 multiplied by the general rate factor for the tax year
0 O3
0 U3
0 V3
540
Total GRIP adjustment for specified future tax consequences to previous tax years:
(add lines 500, 520, and 540) (if negative, enter "0")
Enter amount W on line 560 on page 1.
0
0 W
Part 3 – Worksheet to calculate the GRIP addition post-amalgamation or post-wind-up
(predecessor or subsidiary was a CCPC or DIC in its last tax year)
Complete this part when there has been an amalgamation (within the meaning assigned by subsection 87(1)) or a wind-up (to which subsection 88(1)
applies) and the predecessor or subsidiary corporation was a CCPC or DIC in its last tax year. In the calculation below, corporation means a predecessor
or a subsidiary. The last tax year for a predecessor corporation was its tax year that ended immediately before the amalgamation and for a subsidiary
corporation was its tax year during which its assets were distributed to the parent on the wind-up.
For a post-wind-up, include the GRIP addition in calculating the parent's GRIP at the end of its tax year that immediately follows the tax year during which it
receives the assets of the subsidiary.
Complete a separate worksheet for each predecessor and each subsidiary that was a CCPC or DIC in its last tax year. Keep a copy of this calculation for
your records, in case we ask to see it later.
Corporation's GRIP at the end of its last tax year
0 BB
Eligible dividends paid by the corporation in its last tax year
0 CC
Excessive eligible dividend designations made by the corporation in its last tax year
0
Subtotal (line BB minus line CC)
GRIP addition post-amalgamation or post-wind-up (predecessor or subsidiary was a CCPC or DIC in its last tax year)
(line AA minus line DD)
After you complete this calculation for each predecessor and each subsidiary, calculate the total of all the EE lines. Enter this total amount on:
– line 230 on page 1 for post-amalgamation; or
– line 240 on page 1 for post-wind-up.
0 AA
0 DD
0 EE
T2 SCH 53 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 3 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
GENERAL RATE INCOME POOL (GRIP) CALCULATION
Part 4 – Worksheet to calculate the GRIP addition post-amalgamation, post-wind-up
(predecessor or subsidiary was not a CCPC or DIC in its last tax year), or the corporation is becoming a CCPC
Complete this part when there has been an amalgamation (within the meaning assigned by subsection 87(1)) or a wind-up (to which subsection 88(1)
applies) and the predecessor or subsidiary was not a CCPC or DIC in its last tax year. Also, use this part for a corporation becoming a CCPC. In the
calculation below, corporation means a corporation becoming a CCPC, a predecessor, or a subsidiary.
For a post-wind-up, include the GRIP addition in calculating the parent's GRIP at the end of its tax year that immediately follows the tax year during which it
receives the assets of the subsidiary.
Complete a separate worksheet for each predecessor and each subsidiary that was not a CCPC or a DIC in its last tax year. Keep a copy of this calculation
for your records, in case we ask to see it later.
Cost amount to the corporation of all property immediately before the end of its previous/last tax year
0 FF
The corporation's money on hand immediately before the end of its previous/last tax year
0 GG
Unused and unexpired losses at the end of the corporation's previous tax year
Non-capital losses
Net capital losses
Farm losses
Restricted farm losses
Limited partnership losses
0
0
0
0
0
0
Subtotal
Subtotal (add lines FF, GG, and HH)
All the corporation's debts and other obligations to pay that were
outstanding immediately before the end of its previous/last tax year
0 JJ
Paid up capital of all the corporation's issued and outstanding shares
of capital stock immediately before the end of its previous/last tax year
0 KK
All the corporation's reserves deducted in its previous/last tax year
0 LL
The corporation's capital dividend account immediately before the end
of its previous/last tax year
0 MM
The corporation's low rate income pool immediately before the end of
its previous/last tax year
0 NN
Subtotal (add lines JJ, KK, LL, MM, and NN)
0
GRIP addition post-amalgamation or post-wind-up (predecessor or subsidiary was not a CCPC or DIC in
its last tax year), or the corporation is becoming a CCPC (line II minus line OO) (if negative, enter "0")
0 HH
0 II
0 OO
0 PP
After you complete this worksheet for each predecessor and each subsidiary, calculate the total of all the PP lines. Enter this total amount on:
– line 220 on page 1 for a corporation becoming a CCPC;
– line 230 on page 1 for post-amalgamation; or
– line 240 on page 1 for post-wind-up.
T2 SCH 53 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 4 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
GENERAL RATE INCOME POOL (GRIP) CALCULATION
Part 5 – General Rate Factor for the Tax Year
Complete this part to calculate the general rate factor for the tax year. Calculate your results to 4 decimal places.
0.68 x
number of days in the tax year
before January 1, 2010
number of days in the tax year
0 =
365
0.0000 QQ
0.69 x
number of days in the tax year
in 2010
number of days in the tax year
365 =
365
0.6900 RR
0.70 x
number of days in the tax year
in 2011
number of days in the tax year
0 =
365
0.0000 SS
0 =
365
0.0000 TT
0.72 x
number of days in the tax year
after December 31, 2011
number of days in the tax year
General Rate Factor for the tax year (total of lines QQ to TT)
0.6900 UU
T2 SCH 53 E (09) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 5 of 5
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agency
Agence du revenu
du Canada
Schedule 55
PART III.1 TAX ON EXCESSIVE ELIGIBLE DIVIDEND DESIGNATIONS
Do not use this area
•
•
•
•
•
•
•
Every corporation resident in Canada that pays a taxable dividend (other than a capital gains dividend within the meaning
assigned by subsection 130.1(4) or 131(1)) in the tax year must file this schedule.
Canadian-controlled private corporations (CCPC) and deposit insurance corporations (DIC) must complete Part 1. All
other corporations must complete Part 2.
Every corporation that has paid an eligible dividend must also file Schedule 53, General Rate Income Pool (GRIP)
Calculation, or Schedule 54, Low Rate Income Pool Calculation (LRIP); whichever is applicable.
File the completed schedules with your T2 Corporation Income Tax Return no later than six months from the end of the
tax year.
Parts, subsections, and paragraphs mentioned in this schedule refer to the Income Tax Act.
Subsection 89(1) defines the terms eligible dividend, excessive eligible dividend designation, general rate income pool
(GRIP), and low rate income pool (LRIP).
The calculations in Part 1 and Part 2 do not apply if the excessive eligible dividend designation arises from the application
of paragraph (c) of the definition of excessive eligible dividend designation in subsection 89(1). This paragraph applies
when an eligible dividend is paid to artificially maintain or increase the GRIP or to artificially maintain or decrease the
LRIP.
Part 1 - Canadian-controlled private corporations and deposit insurance corporations
Taxable dividends from Schedule 3
100,000
Taxable dividends not entered on Schedule 3
Total taxable dividends paid in the tax year
0
100
100,000
Total eligible dividends paid in the tax year
150
0
GRIP at the end of the year (line 590 on Schedule 53) (if negative, enter "0")
160
717,720
Excessive eligible dividend designation (line 150 minus line 160)
0 A
Part III.1 tax on excessive eligible dividend designations - CCPC or DIC
(line A multiplied by 20%)
190
0
Part 2 - Other corporations
Taxable dividends from Schedule 3
0
Taxable dividends not entered on Schedule 3
0
Total taxable dividends paid in the tax year
200
0
Total excessive eligible dividend designations in the tax year (line A of Schedule 54)
Part III.1 tax on excessive eligible dividend designations - Other corporations
(line B multiplied by 20%)
0 B
290
0
T2 SCH 55 (06) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 1 of 1
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Canada Revenue
Agence du revenu
Agency
du Canada
Schedule 404
SASKATCHEWAN MANUFACTURING AND PROCESSING PROFITS TAX REDUCTION
Use this schedule if the corporation had:
– a permanent establishment (as defined in Regulation 400 of the federal Income Tax Regulations) in Saskatchewan at any time in the year;
– taxable income earned in the year in Saskatchewan; and
– Canadian manufacturing and processing profits, as defined in subsection 125.1(3) of the federal Income Tax Act, earned in Saskatchewan.
Effective January 1, 2002, Canadian manufacturing and processing profits earned in Saskatchewan include profits from generating or producing electrical
energy or steam for sale in Saskatchewan.
Corporations must claim their Saskatchewan manufacturing and processing profits tax reduction within three years of the filing due date of the T2 return
for the applicable tax year.
This schedule is a worksheet only and does not have to be filed with your T2 Corporation Income Tax Return.
Part 1 - Calculation of income eligible for the Saskatchewan manufacturing and processing profits
tax reduction
Period before July 1, 2006
If there are days in the tax year that are in the period mentioned above, calculate the income eligible for the Saskatchewan manufacturing and processing
profits tax reduction as follows:
Canadian manufacturing and processing profits (amount from line 200 of Schedule 27) *
Deduct: amount E2 from Schedule 411 **
Excess (if negative, enter "0")
Taxable income (amount from line 360 of the T2 return)
Deduct:
F2
Amount E2 from Schedule 411 **
G2
Aggregate investment income (amount from line 440 of the T2 return) **
Foreign business income tax credit (amount from
x3 =
H2
line 636 *** of the T2 return)
Subtotal (add amounts F2, G2, and H2)
Excess (if negative, enter "0")
Income eligible for the Saskatchewan manufacturing and processing profits tax reduction in this period
(amount C2 or J2, whichever is less)
A2
B2
C2
D2
I2
J2
K2
Period after June 30, 2006, and before July 1, 2007
If there are days in the tax year that are in the period mentioned above, calculate the income eligible for the Saskatchewan manufacturing
and processing profits tax reduction as follows:
Canadian manufacturing and processing profits (amount from line 200 of Schedule 27) *
Deduct: amount E3 from Schedule 411 **
Excess (if negative, enter "0")
Taxable income (amount from line 360 of the T2 return)
Deduct:
F3
Amount E3 from Schedule 411 **
G3
Aggregate investment income (amount from line 440 of the T2 return) **
Foreign business income tax credit (amount from
x3 =
H3
line 636 *** of the T2 return)
Subtotal (add amounts F3, G3, and H3)
Excess (if negative, enter "0")
Income eligible for the Saskatchewan manufacturing and processing profits tax reduction in this period
(amount C3 or J3, whichever is less)
T2 SCH 404 E (06) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
A3
B3
C3
D3
I3
J3
K3
Page 1 of 3
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
SASKATCHEWAN MANUFACTURING AND PROCESSING PROFITS TAX REDUCTION
Part 1 - Calculation of income eligible for the Saskatchewan manufacturing and processing profits tax reduction (continued)
Period after June 30, 2007, and before July 1, 2008
If there are days in the tax year that are in the period mentioned above, calculate the income eligible for the Saskatchewan manufacturing
and processing profits tax reduction as follows:
Canadian manufacturing and processing profits (amount from line 200 of Schedule 27) *
Deduct: amount E4 from Schedule 411 **
Excess (if negative, enter "0")
Taxable income (amount from line 360 of the T2 return)
Deduct:
F4
Amount E4 from Schedule 411 **
G4
Aggregate investment income (amount from line 440 of the T2 return) **
Foreign business income tax credit (amount from
x3 =
H4
line 636 *** of the T2 return)
Subtotal (add amounts F4, G4, and H4)
Excess (if negative, enter "0")
Income eligible for the Saskatchewan manufacturing and processing profits tax reduction in this period
(amount C4 or J4, whichever is less)
A4
B4
C4
D4
I4
J4
K4
Period after June 30, 2008
If there are days in the tax year that are in the period mentioned above, calculate the income eligible for the Saskatchewan manufacturing and processing
profits tax reduction as follows:
Canadian manufacturing and processing profits (amount from line 200 of Schedule 27) *
Deduct: amount E5 from Schedule 411 **
Excess (if negative, enter "0")
Taxable income (amount from line 360 of the T2 return)
Deduct:
500,000 F5
Amount E5 from Schedule 411 **
97,000 G5
Aggregate investment income (amount from line 440 of the T2 return) **
Foreign business income tax credit (amount from
x3 =
H5
line 636 *** of the T2 return)
597,000
Subtotal (add amounts F5, G5, and H5)
Excess (if negative, enter "0")
Income eligible for the Saskatchewan manufacturing and processing profits tax reduction in this period
(amount C5 or J5, whichever is less)
*
**
***
1,022,647 A5
500,000 B5
522,647 C5
1,185,000 D5
597,000 I5
588,000 J5
522,647 K5
If the corporation generated or produced electrical energy or steam for sale in Saskatchewan, use the amount from line 210 rather than line 200 of
Schedule 27.
Applies only to corporations that were Canadian-controlled private corporations throughout the tax year.
Calculate the amount of foreign business income tax credit deductible at line 636 of the T2 return without reference to the corporate tax reductions
under section 123.4 of the federal Income Tax Act.
T2 SCH 404 E (06) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 2 of 3
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
SASKATCHEWAN MANUFACTURING AND PROCESSING PROFITS TAX REDUCTION
Part 2 - Calculation of Saskatchewan manufacturing and processing profits tax reduction
Period before July 1, 2006
If there are days in the tax year that are in the period mentioned above, calculate the following:
Amount K2
Qualifying
reduction rate
x
% x
Amount L2 multiplied
by amount M2
taxable income earned in Saskatchewan
taxable income earned in all provinces *
=
L2
taxable income earned in Saskatchewan
taxable income earned in all provinces *
=
M2
=
N2
taxable income earned in Saskatchewan
taxable income earned in all provinces *
=
L3
taxable income earned in Saskatchewan
taxable income earned in all provinces *
=
M3
=
N3
taxable income earned in Saskatchewan
taxable income earned in all provinces *
=
L4
taxable income earned in Saskatchewan
taxable income earned in all provinces *
=
M4
=
N4
taxable income earned in Saskatchewan
taxable income earned in all provinces *
1,185,000 =
1,185,000
522,647 L5
taxable income earned in Saskatchewan
taxable income earned in all provinces *
1,185,000 =
1,185,000
2.0000 M5
365 =
365
10,453 N5
number of days in the tax year
before July 1, 2006
number of days in the tax year
x
Period after June 30, 2006, and before July 1, 2007
If there are days in the tax year that are in the period mentioned above, calculate the following:
Amount K3
Qualifying
reduction rate
x
% x
Amount L3 multiplied
by amount M3
x
number of days in the tax year after
June 30, 2006, and before July 1, 2007
number of days in the tax year
Period after June 30, 2007, and before July 1, 2008
If there are days in the tax year that are in the period mentioned above, calculate the following:
Amount K4
Qualifying
reduction rate
x
% x
Amount L4 multiplied
by amount M4
x
number of days in the tax year after
June 30, 2007, and before July 1, 2008
number of days in the tax year
Period after June 30, 2008
If there are days in the tax year that are in the period mentioned above, calculate the following:
Amount K5
Qualifying
reduction rate
Amount L5 multiplied
by amount M5
522,647 x
2 % x
10,453 x
number of days in the tax year
after June 30, 2008
number of days in the tax year
For all periods mentioned above, complete the following:
Saskatchewan Manufacturing and processing profits tax reduction (total of amounts N2, N3, N4, and N5)
Enter amount O at line 626 of Schedule 5.
*
10,453 O
Includes the territories, Nova Scotia offshore, and Newfoundland and Labrador offshore.
T2 SCH 404 E (06) Version 2010.4.3 GP41 - RETAIN ON FILE. DO NOT SUBMIT TO THE CRA.
Page 3 of 3
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
Tax instalments paid
TaxPaid
Jurisdiction
Federal
Federal
Description
Date
Instalment
Amount
2010-09-01
212,000
Total
212,000
* Enter Québec instalments paid on form CO-1027.VE
Summary by jurisdiction
Federal
British Columbia
Alberta
Saskatchewan
212,000
Manitoba
Ontario
Page 1 of 1
File: Metro Inc. CRA Business # 111111118 Year-end: 2010-12-31 Printed: 2011-06-12 15:29
CDA
Capital dividend account continuity
Summary
Prior years
A.
Non-taxable (non-deductible) portion of capital gain (loss)
Non-taxable portion of allowable business investment (loss)
Net non-taxable gain eligible for CDA (Enter "0" if negative)
+
=
B.
Capital dividends received
+
C.
ECP amount included in income under 14(1)(b)
Amount(s) deducted under 20(4.2) or portion of allowable
capital loss under 20(4.3)
Net non taxable portion of ECP proceeds eligible for CDA
+
D.
Net proceeds (in excess of adjusted cost base) of life
insurance policy where corporation is beneficiary
+
E.
Non taxable portion of capital gains distributed from a trust
+
F.
Non taxable portion of capital dividends distributed from a trust
+
G.
Subtotal (A to F)
=
H.
Capital dividends paid
-
I.
Capital dividend account at end of the year
(G - H) (Enter "0" if negative)
=
Current year
14,000
Total
14,000
14,000
14,000
14,000
Adjustments
Adjusted CDA balance
14,000
Page 1 of 1