Found in: 2014.1.0
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.