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Correct me if I am wrong. For a NON-CCPC corporation, the general tax reduction rate of 7% (now) seems not working. Amount "T" on page 5 of 7 of the T2 reports $0 instead of 7% of taxable income.
Secondly, the GRIP calculation for 2006 additions seems off by one taxation year.
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T2 tax calc error
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Hardev@Intuit 
- Intuit Staff
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Posted 10 August 2007 - 04:05 PM
ACHUI, on Aug 7 2007, 05:43 AM, said:
Correct me if I am wrong. For a NON-CCPC corporation, the general tax reduction rate of 7% (now) seems not working. Amount "T" on page 5 of 7 of the T2 reports $0 instead of 7% of taxable income.
Secondly, the GRIP calculation for 2006 additions seems off by one taxation year.
Secondly, the GRIP calculation for 2006 additions seems off by one taxation year.
The general tax reduction rate is a known issue and it will be corrected in the next patch release.
It is our understanding that you are referring to a 2007 year-end and are expecting the dates in the ‘2006 addition’ area to change. This section is only to be used for the first corporate year-end that includes Jan 01, 2006 – therefore the dates do not change dynamically with the year-end of the corporation. If that is not the case then you will need to provide more details.
Regards,
Hardev Koonar
Intuit Canada
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