T2 Provision & Draft Return

1 · Trial balance

Paste CSV or load a file. Columns: Account, GIFI, Type, Debit, Credit (or a signed Balance). Type/GIFI used to classify; debits +, credits −.

2 · Business info

CCPC assumed. Allocate the $500k limit if associated. Grinds applied automatically.

Tax year

Province

Book net income before tax

Business limit allocated ($)

Prior-yr AAII (passive grind)

Prior-yr taxable capital

Aggregate investment income

S.112 dividends (deduct)

Installments paid

Non-cap losses available

Non-cap losses applied

Future tax rate for deferred (%) Auto-blend (SBD + general split)

Opening net deferred tax liability

3 · Schedule 1 — book-to-tax differences

Permanent diffs change tax forever; temporary diffs reverse (and feed deferred tax).

Permanent additions (+)

Permanent deductions (−)

Temporary additions (+) — e.g. book amortization, reserves booked

Temporary deductions (−) — e.g. CCA, reserves reversed

4 · Deferred tax — closing temporary differences

Carrying amount vs tax base × future rate. NBV>UCC → DTL; reserves & losses → DTA.

Depreciable assets — net book value (NBV)

Depreciable assets — tax UCC

Deductible reserves / accruals (closing)

Non-capital loss carryforward

5 · Schedule 8 — capital cost allowance

One row per class. Half-year applies unless AccII is ticked. Apply writes total CCA into the Schedule 1 deduction and the closing UCC into deferred tax.

6 · RDTOH & dividends

Portfolio dividends drive Part IV tax; investment income drives refundable Part I. Dividends paid trigger the refund (NERDTOH first, then ERDTOH).

Eligible portfolio dividends received

Non-eligible portfolio dividends received

Opening ERDTOH

Opening NERDTOH

Eligible dividends paid

Non-eligible dividends paid

Connected-corp Part IV — eligible

Connected-corp Part IV — non-eligible

7 · GRIP & CDA

GRIP = capacity to designate eligible dividends (reuses the eligible dividends in §6). CDA = tax-free distribution room (s.83(2)).

Opening GRIP

Opening CDA

Capital gains realized

Capital losses realized

Capital dividends received

Life insurance proceeds (net of ACB)

Capital dividends paid

T2 Provision & Draft Return · MVP

1 · Trial balance

2 · Business info

3 · Schedule 1 — book-to-tax differences

4 · Deferred tax — closing temporary differences

5 · Schedule 8 — capital cost allowance

6 · RDTOH & dividends

7 · GRIP & CDA

Results