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Duncan C
Level 1

T2 Schedule 411 Saskatchewan Corporate Tax

In August 2022 the Saskatchewan government announced an extension to the small business corporate tax rate of 0% until June 30, 2023.  Profile is still calculating at a tax rate of 2% after June 30, 2022.  When is the update for this expected to be incorporated into the T2 module?

3 Comments 3
Protax Consultants
Level 1

T2 Schedule 411 Saskatchewan Corporate Tax

The S5SK is calculating 1% for the days after June 30, 2022 and before July 1 2023.

Should a person file the return as it is and let the CRA correct it? or override the tax rate to 0%.... While waiting for the update? 

ProFile Duncan
ProFile Team

T2 Schedule 411 Saskatchewan Corporate Tax

Hi,

Override the tax rate to zero on s411 for affected T2 returns. Here is an example:

The override can then be signed off .

This is only a workaround until the S411 is updated in a later version of ProFile.

I apologize for the inconvenience, but hope this helps 

Protax Consultants
Level 1

T2 Schedule 411 Saskatchewan Corporate Tax

Thank you for the quick response and assistance.