This schedule must be used by corporations that have a year end after December 31, 2008, and claim an Ontario co-operative education tax credit (OCETC) under section 88 of the Taxation Act 2007 (Ontario).
Note: Ensure that you keep a copy of the letter of certification from the Ontario eligible educational institution containing the name of the student, the employer, the institution, the term of the work placement, and the name/discipline of the qualifying co-operative education program to support your claim. Do not submit the letter of certification with the federal return, T2 Corporation Income Tax Return (Jump Code: J). Submit a completed copy of Schedule 550 with the T2 return.