T2 Canada Corporation Income Tax Return, Schedule 1?
Posted on June 4, 2009 by admin
crm_dvd9 asked:
If a U.S. corporation has business income in Canada, what gets reported on the tax return as far as income on schedule 1, line 1? Is it total income (from U.S. and Canada) or is it just Canada income?
If a U.S. corporation has business income in Canada, what gets reported on the tax return as far as income on schedule 1, line 1? Is it total income (from U.S. and Canada) or is it just Canada income?
It would be the income earned by the Canadian business inside and outside Canada, but excluding the income earned by the related US corporation.