Tax update: That mysterious T3, Schedule 12, line 30 Minimum Tax adjustment
This blog hopes to alleviate the confusion over line 30 of a trust’s minimum tax (“AMT”) calculation on schedule 12 and its companion line 42 of an individual’s form T691. The confusion is understandable given the convoluted wording of ITA 127.52(1)(i)(ii)(B) and the absence of any meaningful guidance from Finance or the Canada Revenue Agency […]
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