Schedule 558 must be used by corporations that are claiming a production services tax credit. The amount of the credit claimed will be carried over to line 460 of Schedule 5, Tax Calculation Supplementary - Corporations (Jump Code: 5).
Schedule 558 is a multiple copy form: you must complete a copy of Schedule 558 for each eligible production.
To claim the OPSTC, the corporation must meet the eligibility requirements in Part 3 of this schedule.
Furthermore, the certificate of eligibility issued by Ontario Creates for each production must be attached to the tax return.
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