CO-1029.8.33.TE - Tax Credit to foster the retention of experienced workers

The paid-up capital used to answer the question Is the paid-up capital1 determined for the preceding taxation year, including that of members of an associated group, less than $15 millions? located at the top of the form comes from the “Québec CO-1029.8.33.TE - Tax Credit to foster the retention of experienced workers” section of Schedule 9 WORKCHART, Related and Associated Corporations Workchart (Jump Code: 9 WORKCHART).

Where a corporation is not associated with another corporation in a particular taxation year, the qualified corporation’s paid-up capital applicable to that particular taxation year will be the one determined for its previous taxation year. Where a corporation is associated with one or more other corporations during a particular taxation year, the applicable paid-up capital, for that particular taxation year, corresponds to the total of the corporation’s paid-up capital determined for its previous taxation year and the paid-up capital of the corporations with which the corporation is associated, during the particular taxation year, determined for its last taxation year ended in the twelve months preceding the start of the corporation’s particular taxation year.

When qualified expenditures are incurred by a qualified partnership or an interposed partnership that is a member of a qualified partnership, the qualified partnership’s consolidated paid-up capital must be used to calculate the increase or the additional increase in the basic rate.

Note: The paid-up capital calculated on a global consolidated basis must include, the paid-up capital that would be attributable to a partnership, a trust or an individual deemed associated with a corporation. If you are in this situation, you should:

 
  • recalculate the amount of paid-up capital of the associated group;
  • if required, modify the answer to the question Is the paid-up capital determined for the preceding taxation year, including that of members of an associated group, less than $15 million? using an override; and
  • enter the appropriate paid-up capital of the associated group on line 78 of the form, using an override.
 

In order to answer the question Does the number of remunerated hours of its employees, calculated for the taxation year, exceed 5,000 or is the corporation in the primary or manufacturing sector? entered on lines 07a and 07b in Part 1, “Information about the corporation” of Form CO-771.

Complete a separate copy of Form CO-1029.8.33.TE for each entity (corporation, partnership, or interposed partnership) that is claiming a tax credit. For each of these entities, a separate copy of Form CO-1029.8.33.TE PART 4 should be completed for each eligible or specified employee for whom a tax credit is claimed.

You can access Form CO-1029.8.33.TE PART 4 from Part 4, “Tax credit for eligible employee or specified employee,” or the table in Part 5, “Total tax credits for employees,” of Form CO 1029.8.33.TE.

Printing the form:

If you need to print only the completed copies of Form CO-1029.8.33.TE, we recommend that you create a print format for this form and define the value “If applicable” or “Always” in the Print when? column with regards to Forms CO-1029.8.33.TE and CO-1029.8.33.TE PART 4. As a result, Form CO-1029.8.33.TE and the related copies of Part 4 will print for each copy of Form CO-1029.8.33.TE.