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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?
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?
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
Thank you for the quick response and assistance.
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