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Calculation of the Ontario Small Business Deduction for Large Corporations (S500)

Found in: 2014.1.0
PFTS-9447
Module: T2

Fixed in: 2014.5.0

ProFile incorrectly calculates the Ontario small business deduction for large Ontario corporations that meet the following criteria:
  • had over $15 million in taxable capital for the prior year
  • was not associated with any other corporations in the prior year
  • has a tax year that starts before May 2, 2014
For these corporations, the Ontario small business deduction calculated in Part 3 of Schedule 500 should be eliminated rather than calculated.

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