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Protected B when completed
Part 5 – Obligation to pay alternative minimum tax
 
Minimum amount from line 61   92
Special foreign tax credit from line 91   93
Line 92 minus line 93 (if negative, enter "0") Net minimum tax payable   = 94
Regular net federal tax payable from line 81    95
Federal surtax from line 70    96
Line 95 minus line 96 (if negative, enter "0")   = 97
Line 94 minus line 97 (if negative, enter "0")   = 98
 
If line 98 is "0", you are not subject to alternative minimum tax. If you want to apply a
minimum-tax carryover from previous years against your 2023 tax payable, complete Part 8 and
attach a copy of this form to your return. Also, complete your return as usual.
If line 98 is positive, complete parts 6 and 7.
Part 6 – Federal tax payable (under alternative minimum tax)
 
Basic federal tax from line 68    99
Amount from line 22 of Form T1206, Tax on Split Income    100
Line 99 minus line 100 (if negative, enter "0")   =  101
 
Minimum amount from line 61    102
 
Enter whichever is more: amount from line 101 or line 102.    103
Amount from line 22 of Form T1206, Tax on Split Income   +  104
Line 103 plus line 104 (15)   =  105
 
Net minimum tax payable from line 94    106
Federal surtax on business income earned outside Canada
Multiply the amount from line 105 by 48%. If you have to pay provincial or
territorial tax to multiple jurisdictions, multiply the result by the percentage
in Column 5 of line 52220 on Form T2203. In either case, enter the result
on this line.   +  107
Line 106 plus line 107   =  108
 
Amount from line 24 of Form T1206, Tax on Split Income    109
 
Enter whichever is more: amount from line 108 or line 109.
Enter this amount on line 41700 of your return. 67930 110
 
(15)

 
Use the amount on line 105 as your basic federal tax (instead of line 42900 of your return) when you calculate any refundable Quebec or Yukon
First Nations abatement. If you have to pay provincial or territorial tax to multiple jurisdictions and have income allocated to Quebec, enter the
amount from line 105 on line 11 in Part 2 of Form T2203 to calculate any refundable Quebec abatement.
 
 
T691 E (23) Page 6 of 8

Protected B when completed
Part 7 – Additional taxes paid for minimum tax carryover
 
Minimum amount from line 92   111
Basic federal tax from line 68   112  
Special foreign tax credit from line 91   113  
Federal foreign tax credit from line 73   114  
Line 113 minus line 114 (if negative, enter "0")   = 115  
 
  Foreign taxes paid for special
foreign tax credit
  (line 89 in Part 4) = + 116  
Line 115 x Foreign taxes paid (non-business
income tax paid to a foreign country (16)
 
  plus business income tax paid to a
foreign country (17))
 
Line 112 plus line 116   = 117
Line 111 minus line 117 (if negative, enter "0") Additional taxes paid for minimum tax carryover    = 118
 
Part 8 – Applying a minimum tax carryover from previous years against 2023 tax payable
 
Minimum tax carryover from previous years (2016 to 2022)   119
 
Tax payable before minimum tax carryover from line 66   120  
Federal tax on split income from line 8 of Form T1206, Tax on Split Income   121  
Line 120 minus line 121   = 122  
Minimum amount from line 61   123  
Maximum carryover that can be applied in 2023:  
line 122 minus line 123 (if negative, enter "0")   = 124  
Minimum tax carryover applied in 2023:
Claim an amount that is not more than line 119 or 124, whichever is less, and enter it on
line 40427 of your return.   125
Balance of minimum tax carryover available for later years, if any: line 119 minus line 125   = 126
Additional 2023 taxes for carryover to later years from line 118   + 127
Line 126 plus line 127   = 128
Unapplied 2016 minimum tax carryover   129
Total minimum tax carryover available for 2024: line 128 minus line 129   = 130
 
(16) Non-business income tax paid to a foreign country (see note below)
  Total of non-business income or profits tax you paid to that country or to a political subdivision of that country for the year, minus any part of this tax
that is deductible under subsection 20(11) or deducted under subsection 20(12) of the Act. Non-business income tax paid to a foreign country does
not include tax that can reasonably be attributed to an amount that:
•   any other person or partnership has received, or is entitled to receive from the foreign country
•   relates to taxable capital gains from that country, and you or your spouse or common-law partner claimed a capital gains deduction for that income
•   was deductible as income exempt from tax under a tax treaty between Canada and that country
•   was taxable in the foreign country because you were a citizen of that country, and relates to income from a source within Canada
  Note
  The Canada Revenue Agency considers that any amount of tax you paid to a foreign government in excess of the amount you had to pay according
to a tax treaty is a voluntary contribution and does not qualify as foreign taxes paid.
(17) Business income tax paid to a foreign country (see note 1 below)
  Total of business income or profits tax you paid to a country or a political subdivision of a country for the year (see note 2 below). It does not include
any part of the business income tax that can be reasonably attributed to an amount that any other person or partnership has received or is entitled to
receive from a country, or that was payable on income that was exempt from tax under a tax treaty between Canada and that country.
  Note 1
  The Canada Revenue Agency considers that any amount of tax you paid to a foreign government in excess of the amount you had to pay according
to a tax treaty is a voluntary contribution and does not qualify as foreign taxes paid.
  Note 2
  If you were a resident of Quebec, multiply this amount by 55%.
 
 
T691 E (23) Page 7 of 8