Gross Revenue

“Gross revenue” means all amounts received or receivable in the year, depending on the method regularly followed by taxpayers in computing their income, otherwise than as or on account of capital. The capital gains are therefore excluded from income, because they constitute amounts received or receivable as or on account of capital.

The gross revenue amount calculated in the program on line 17 of Form CO-17, Corporation Income Tax Return, on line 47 of Form AT1, Alberta Corporate Income Tax Return, in box 5 of Form T106, Information Return of Non-Arm’s Length Transactions with Non-Residents on line Gross revenues attributable to Ontario operations of Schedule 566, Ontario Innovation Tax Credit and on line 5 of Form QME, Entertainment Expenses Worksheet corresponds to the sum of the amounts on lines 8299, Total revenue and 9659, Total farm revenue of the different copies of Schedule 125, Income statement information.

If amounts are entered on lines 8090 to 8250 of sub Schedule 8299, Revenue, verify if you should subtract certain amounts which should not be taken into account in the gross income calculation. If amounts should be deducted from gross income, override the appropriate places among the following: line 17 of the CO-17 return, line 47 of the AT1 return, box 5 of Form T106 Summary, line Gross revenues attributable to Ontario operations of Schedule 566 and/or line 5 of Form QME. Refer to the “Gross Revenue” definitions in subsection 248(1) of the Income Tax Act (ITA) and to section 1 of the Québec Taxation Act (LI).