Specified future tax consequences

For instalment calculations, the tax payable for a tax year is the total tax payable for the year before taking into consideration the specified future tax consequences for the year.

Specified future tax consequences are defined in subsection 248(1) of the Income Tax Act. These include things like loss carryback, foreign tax credit adjustments, and flow-through share renunciation.

Forms and publications

• Corporation Instalment Guide (T7B-CORP)
• T2 Corporation – Income Tax Guide (T4012)

Date modified:

2015-12-15