Amounts Updated to Other Forms
The section 110.5 addition will automatically update the calculation of taxable income on the T2 Jacket and will update the current year loss on Schedule 4 – Non schedule.
The addition will also update the relevant Alberta schedules. However, for Québec purposes, the S.110.5 Add addition no longer applies (see below).
Québec
Commencing with 1990 taxation years, Québec is allowing a carryover of unutilized provincial foreign tax credits to other years. This replaces the addition to Québec taxable income referred to above.
As a result, the program no longer updates the CO-17 taxable income section by the amount of the S.110.5 Add addition. Similarly, the increase to the Québec non-capital loss in the CO-17S.4, which results from the S.110.5 Add addition, is no longer calculated automatically.