Tax Credit
Ontario corporate minimum tax credit
The Ontario corporate minimum tax credit may be deducted from Ontario corporate income tax payable for the tax year.
- 4.5/5.0
- Canada Revenue Agency (CRA)
- All levels
- Last updated 3 years ago
- English
Description
The Ontario corporate minimum tax credit may be deducted from Ontario corporate income tax payable for the tax year.The minimum tax credit carryforward at the beginning of the tax year is equal to the minimum tax and special additional tax paid in previous tax years less any minimum tax credit previously deducted or expired. Only special additional tax paid in a tax year ending after 2008 is included.