AT1 Schedule 4, Foreign Investment Income Tax Credit

Subsection 8(2.2) of the ACTA and subsection 20(12) of the ITA

When the deduction under the provisions of subsection 8(2.2) of the Alberta Corporate Tax Act (ACTA) exceeds the deduction under subsection 20(12) of the Income Tax Act (ITA), the program will enter the balancing amount on lines 040 and 050 of Alberta Schedule 12 because the amounts claimed in the Workchart for Foreign Income Tax Credits and Alberta Schedule 4, Summary of Alberta Foreign Investment Income Tax Credit (Jump Code: A4), will be different from the amounts in the federal Schedule 21.

If the amount claimed for Alberta is the lesser of the two amounts, there will be no difference between the amounts on the federal Schedule 21 and the Alberta Schedule 4, because the amount entered in the Alberta Schedule 4 must be the higher of the two amounts claimed.