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It’s my first time to use Profile to prepare corporation income tax.
There is no tip or any warning information in the Profile to remind me to complete the tax on paid-up capital. And at first I though the Profile calculated it for me automatically based on the data in financial statements. But actually, Profile did not do anything for tax on paid-up capital.
"Corporations having an establishment in Québec at any time during a taxation year must pay tax on their paid-up capital."
Is it a bug for Profile?
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Quebec : Tax on capital
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Walter1 
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Posted 11 May 2009 - 11:25 PM
fishion, on May 11 2009, 02:21 PM, said:
It’s my first time to use Profile to prepare corporation income tax.
There is no tip or any warning information in the Profile to remind me to complete the tax on paid-up capital. And at first I though the Profile calculated it for me automatically based on the data in financial statements. But actually, Profile did not do anything for tax on paid-up capital.
"Corporations having an establishment in Québec at any time during a taxation year must pay tax on their paid-up capital."
Is it a bug for Profile?
There is no tip or any warning information in the Profile to remind me to complete the tax on paid-up capital. And at first I though the Profile calculated it for me automatically based on the data in financial statements. But actually, Profile did not do anything for tax on paid-up capital.
"Corporations having an establishment in Québec at any time during a taxation year must pay tax on their paid-up capital."
Is it a bug for Profile?
It is possible that there is no tax on capital payable. There is up to a one million dollar deduction, check CO-1137.A (or CO-1137.E if associated) for details.
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