Calculation of your interim net tax
Generally, your interim net tax is the amount that would be your net tax for your reporting period if the provincial attribution percentage for a particular participating province is your provincial attribution percentage for the participating province for the tax year or for the immediately preceding tax year determined in accordance with the SLFI Regulations, whichever is less (see page 17 for Element C of the SAM formula). …
Element C … Notes
If you are a monthly or quarterly filer, where you calculated your interim net tax using the preceding year’s provincial attribution percentage, on your final return for the reporting period you are required to use your current year’s provincial attribution percentage, unless you are an investment plan that does not have a real-time calculation method or reconciliation method election in effect.
