This schedule is a worksheet only and is used by corporations that had a permanent establishment in British Columbia (as defined in section 400 of the federal Income Tax Regulations) to calculate the following for each period in British Columbia:
(a) Income eligible for the British Columbia lower and higher tax rate;
(b) Total British Columbia tax at the lower and higher rates before credits.
The amount calculated in (b) above transfers to Schedule 5 in the Provincial or territorial tax payable before credits column for British Columbia and to line 240 of Schedule 5.
See also