Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
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Dear Sir\Madam:
RE: Transfer of Provincial Alternate Minimum Tax Credit
We are replying to your letter of March 12, 1993 in which you ask about the procedures necessary to apply your Quèbec tax credit arising from the payment of alternate minimum tax to your federal return.
For the 1992 taxation year while you were resident in Quèbec, your tax was computed under the alternate minimum tax rules. You are planning to move to British Columbia in 1993 and you would like to know how to ensure that you receive credit for the additional provincial tax paid to the Quèbec government.
While there is no provision whereby the actual tax paid to the Quèbec government in 1992 will be transferred to another province, you will receive provincial relief when you apply your federal minimum tax credit carry-over to the tax payable in a subsequent year. The provincial tax payable in all provinces other than Quèbec is calculated as a proportion of the "Basic Federal Tax" as shown on line 506 of the 1992 return. Since Basic Federal Tax is calculated net of any federal minimum tax credit carry-over, the provincial tax will be correspondingly reduced.
We trust this explanation will be satisfactory.
Yours truly,
P.D. Fuoco for DirectorBusiness and General DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
c.c. Provincial and International Affairs
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© Her Majesty the Queen in Right of Canada, 1993
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© Sa Majesté la Reine du Chef du Canada, 1993