T691(Page 1) - fill out and auto calculate/complete form online

Canada Revenue
Agency

Agence du revenu
du Canada

Alternative Minimum Tax

Protected B when completed

Use this form to calculate your federal tax payable under alternative minimum tax for 2023. If you are completing a return for
a trust, use T3 Schedule 12, Minimum Tax.

Complete parts 1, 2, and 8 if you do not have to pay minimum tax in 2023 and you are applying a minimum tax carryover from
previous years against your tax payable for 2023.

Alternative minimum tax does not apply to a person who died in 2023 or to returns filed under subsections 70(2) or 150(4),
or under paragraphs 104(23)(d) or 128(2)(e) of the Income Tax Act (the Act).

If you had business income in 2023 from a province or territory other than the one you lived in at the end of the year, or from
another country, you may also have to complete and attach a copy of Form T2203, Provincial and Territorial Taxes for Multiple
Jurisdictions.

Attach a completed copy of this form to your return.

Part 1 – Adjusted taxable income and minimum amount

Taxable income from line 26000 of your return (or the amount you would have entered on line 26000

if the instructions for lines 23600 and 26000 said "if negative, enter the result in brackets")

Film property ⁽¹⁾

Capital cost allowance (CCA) and carrying charges ⁽²⁾ claimed on certified
film property acquired before March 1996 (usually included on lines 22100

and 23200 of your return)

Net income from film property before CCA and carrying charges

(if negative, enter "0") ⁽³⁾

–

Line 2 minus line 3 (if negative, enter "0")

67820

►

Rental and leasing property ⁽¹⁾

Capital cost allowance (CCA) and carrying charges ⁽²⁾ claimed on rental

and leasing property (included on line 12600 of your return)

Net income from rental and leasing property before CCA and carrying

charges (if negative, enter "0") ⁽³⁾

–

Line 5 minus line 6 (if negative, enter "0")

67830

►

Tax shelters, limited partnerships, and non-active partners

Losses from partnerships that are tax shelters ⁽⁴⁾

Amounts deductible for properties that are tax shelters ⁽⁵⁾

Carrying charges ⁽²⁾ for acquiring an interest in a partnership of which you
are a limited or non-active partner, or which owns a rental or leasing

property or a film property (included on line 22100 of your return) ⁽⁶⁾

Add lines 8 to 10.

67840

►

Add lines 1, 4, 7 and 11.

(1)

If you are a member of a partnership, include your share of the income and deductions for the partnership's fiscal period ending in 2023.
Do not include any amounts that you have to include on lines 8 to 10 of this form.

(2)

To determine which carrying charges should be adjusted when calculating alternative minimum tax, see paragraphs 20(1)(c) to (f) of the Act.

(3)

For film property and rental and leasing property, first add income from these investments (before CCA or carrying charges, if they apply) and net
taxable capital gains, if any, from dispositions of such investments. Then subtract losses from these investments (before CCA or carrying charges, if
they apply). If the result is negative, enter "0".

(4)

If your interest in the partnership is in a tax shelter that the partnership holds, include on line 8 your share of the net losses of the partnership from
each source (allowable capital losses, business losses, and property losses) that is more than the amount allowed under paragraph 127.52(1)(c.1) of
the Act. Generally, the amount allowed under that paragraph should correspond with the net taxable capital gains that were attributed to you by the
partnership or that you have realized on the disposition of your interest in the partnership. These losses are generally reported on line 12200 of your
return, except rental (line 12600) and farming losses (line 14100).

(5)

Include all amounts deducted for property for which an identification number is required to be, or has been, obtained under section 237.1 of the Act,
such as carrying charges for the acquisition of the property, other than amounts to which paragraphs 127.52(1)(b) to (c.2) apply. Include amounts
from Form T5004, Claim For Tax Shelter Loss or Deduction, that you claimed as an income deduction or a loss on your return.

(6)

Enter on this line carrying charges for the acquisition of an interest in a partnership of which you were a limited or non-active partner, or in a
partnership that owns a rental or leasing property or a film property. Include only carrying charges that are more than your share of the partnership's
income.

T691 E (23)

(Ce formulaire est disponible en français.)

Page 1 of 8