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Again, any undeductible amount would be carried forward. ¶ 22. The following example illustrates the rules discussed in ¶ 19 to 21 above: An artist earned employment income from qualifying artistic activities from both Employer A and Employer B during the same taxation year. The following information relates to the artist for that taxation year: Employer A Employer B Total Income received in the year $ 15,000 $ 7,500 $ 22,500 ===== ===== ===== Related expenses paid in the year: Advertising & promotion $ 400 $ 300 $ 700 Travel* $ 800 $ 500 $ 1,300------------------------ Total $ 1,200 $ 800 $ 2,000 ===== ===== ===== Capital cost allowance on motor vehicle deducted under paragraph 8(1)(j) $ 350 ===== * The taxpayer meets the requirements of paragraph 8(1)(h); consequently, the travel expenses are deductible under that provision. The amount deductible under paragraph 8(1)(q) for the current year is calculated as follows: Eligible artists' employment expenses (amount paid for advertising & promotion-see note below) $ 700 ===== Limit under paragraph 8(1)(q): The lesser of: (i) $1,000, and (ii) $4,500 (20% of $22,500); that is, $ 1,000 Less: capital cost allowance $ 350 $ 650-------- ===== Amount deductible under paragraph 8(1)(q) for the year (the eligible expenses of $700, but not exceeding the limit of $650) $ 650 ===== Eligible artists' employment expenses to be carried onward to the subsequent year ($700 eligible- $650 deductible) $ 50 ===== Deductions allowed in computing the current year's employment income: Capital cost allowance (paragraph 8(1)(j)) $ 350 Artists' employment expenses (paragraph 8(1)(q)) $ 650 Travel expenses (paragraph 8(1)(h)) $ 1,300-------- Total $ 2,300 ===== Note: Since the travel expenses of $1,300 were paid to earn employment income from a qualifying artistic activity, the taxpayer could choose to include them in the eligible artists' employment expenses instead of deducting them under paragraph 8(1)(h) (the eligible artists' employment expenses would therefore be $2,000 instead of $700). ...

Again, any undeductible amount would be carried forward. ¶ 22. The following example illustrates the rules discussed in ¶ 19 to 21 above: An artist earned employment income from qualifying artistic activities from both Employer A and Employer B during the same taxation year. The following information relates to the artist for that taxation year: Employer A Employer B Total Income received in the year $ 15,000 $ 7,500 $ 22,500 ===== ===== ===== Related expenses paid in the year: Advertising & promotion $ 400 $ 300 $ 700 Travel* $ 800 $ 500 $ 1,300------------------------ Total $ 1,200 $ 800 $ 2,000 ===== ===== ===== Capital cost allowance on motor vehicle deducted under paragraph 8(1)(j) $ 350 ===== * The taxpayer meets the requirements of paragraph 8(1)(h); consequently, the travel expenses are deductible under that provision. The amount deductible under paragraph 8(1)(q) for the current year is calculated as follows: Eligible artists' employment expenses (amount paid for advertising & promotion-see note below) $ 700 ===== Limit under paragraph 8(1)(q): The lesser of: (i) $1,000, and (ii) $4,500 (20% of $22,500); that is, $ 1,000 Less: capital cost allowance $ 350 $ 650-------- ===== Amount deductible under paragraph 8(1)(q) for the year (the eligible expenses of $700, but not exceeding the limit of $650) $ 650 ===== Eligible artists' employment expenses to be carried onward to the subsequent year ($700 eligible- $650 deductible) $ 50 ===== Deductions allowed in computing the current year's employment income: Capital cost allowance (paragraph 8(1)(j)) $ 350 Artists' employment expenses (paragraph 8(1)(q)) $ 650 Travel expenses (paragraph 8(1)(h)) $ 1,300-------- Total $ 2,300 ===== Note: Since the travel expenses of $1,300 were paid to earn employment income from a qualifying artistic activity, the taxpayer could choose to include them in the eligible artists' employment expenses instead of deducting them under paragraph 8(1)(h) (the eligible artists' employment expenses would therefore be $2,000 instead of $700). ...

Column 1 Column 2 Column 3 Enter your total contributions A- 0- 100.00- 550.00 B Line A minus line B = = = C × 75 % × 50 % × 33.33 % D Multiply line C by the rate on line D = = = E + 0 + 75.00 + 300.00 F Line E plus line F = = = G Enter the result on line 44 on BC428. ... " Enter on line 47 of Form BC428, the "Tax credit amount " shown on Form EVCC 30. ... " Enter on line 11 of Form BC479, the "Tax credit amount " shown on Form VCC 10. ...

OETC Calculation ¶ 19. Expressed as a formula, the amount that can be deducted under section 122.3 as an OETC is: OETC = C ÷ D × E where limitation: A = the number of days in that portion of the qualifying period that is in the year and on which the individual was resident in Canada × $80,000 ÷ 365 B = 80% of the individual's qualifying income (see ¶ 3) that is reasonably attributable to duties performed on the days referred to in A above and: C = The lesser of limitation A and B D = Adjusted income for the taxation year (see ¶ 20)] E = Tax otherwise payable for the year (see ¶ 21) Therefore, the OETC provides an annual tax reduction for a maximum of $100,000 of overseas employment income (i.e., qualifying income) earned in a full year (i.e., a qualifying period of 12 months) of overseas employment (see ¶s 10-12). ... Using the formula described in ¶ 19, the individual's OETC is determined as follows: (1) Determine the lesser of limitation A and B: A = (a) ÷ 365 × $80,000 = 73 ÷ 365 × $80,000 = $16,000 B = 80% of (c) = 80 ÷ 100 × $22,000 = $17,600 (2) The OETC is: $16,000÷ (d) × (e) = $16,000 ÷ $64,000 × $14,000 = $3,500 In this example, because the individual's qualifying period exceeded six months at the time the individual's 2002 tax return was required to be filed, the tax credit of $3,500 may be deducted in calculating 2002 Part I tax payable. ... A reference to ¶ 16 was added to the end of ¶ 13. In ¶ 14, a reference to subsection 250(5) was added in order to be more technically precise. ...

OETC Calculation ¶ 19. Expressed as a formula, the amount that can be deducted under section 122.3 as an OETC is: OETC = C ÷ D × E where limitation: A = the number of days in that portion of the qualifying period that is in the year and on which the individual was resident in Canada × $80,000 ÷ 365 B = 80% of the individual's qualifying income (see ¶ 3) that is reasonably attributable to duties performed on the days referred to in A above and: C = The lesser of limitation A and B D = Adjusted income for the taxation year (see ¶ 20)] E = Tax otherwise payable for the year (see ¶ 21) Therefore, the OETC provides an annual tax reduction for a maximum of $100,000 of overseas employment income (i.e., qualifying income) earned in a full year (i.e., a qualifying period of 12 months) of overseas employment (see ¶s 10-12). ... Using the formula described in ¶ 19, the individual's OETC is determined as follows: (1) Determine the lesser of limitation A and B: A = (a) ÷ 365 × $80,000 = 73 ÷ 365 × $80,000 = $16,000 B = 80% of (c) = 80 ÷ 100 × $22,000 = $17,600 (2) The OETC is: $16,000÷ (d) × (e) = $16,000 ÷ $64,000 × $14,000 = $3,500 In this example, because the individual's qualifying period exceeded six months at the time the individual's 2002 tax return was required to be filed, the tax credit of $3,500 may be deducted in calculating 2002 Part I tax payable. ... A reference to ¶ 16 was added to the end of ¶ 13. In ¶ 14, a reference to subsection 250(5) was added in order to be more technically precise. ...

OETC Calculation ¶ 19. Expressed as a formula, the amount that can be deducted under section 122.3 as an OETC is: OETC = C ÷ D × E where limitation: A = the number of days in that portion of the qualifying period that is in the year and on which the individual was resident in Canada × $80,000 ÷ 365 B = 80% of the individual's qualifying income (see ¶ 3) that is reasonably attributable to duties performed on the days referred to in A above and: C = The lesser of limitation A and B D = Adjusted income for the taxation year (see ¶ 20)] E = Tax otherwise payable for the year (see ¶ 21) Therefore, the OETC provides an annual tax reduction for a maximum of $100,000 of overseas employment income (i.e., qualifying income) earned in a full year (i.e., a qualifying period of 12 months) of overseas employment (see ¶s 10-12). ... Using the formula described in ¶ 19, the individual's OETC is determined as follows: (1) Determine the lesser of limitation A and B: A = (a) ÷ 365 × $80,000 = 73 ÷ 365 × $80,000 = $16,000 B = 80% of (c) = 80 ÷ 100 × $22,000 = $17,600 (2) The OETC is: $16,000÷ (d) × (e) = $16,000 ÷ $64,000 × $14,000 = $3,500 In this example, because the individual's qualifying period exceeded six months at the time the individual's 2002 tax return was required to be filed, the tax credit of $3,500 may be deducted in calculating 2002 Part I tax payable. ... A reference to ¶ 16 was added to the end of ¶ 13. In ¶ 14, a reference to subsection 250(5) was added in order to be more technically precise. ...

For updated information about the Eligible educator school supply tax credit, go to Line 46900 – Eligible educator school supply tax credit. For updated information about the Return of fuel charge proceeds to farmer tax credit, go to Line 47556 – Other refundable credits. Temporary measure – Fax for Non-resident and Deemed resident returns Due to international mail delays, the CRA is temporarily accepting non-resident and deemed resident income tax returns through fax. ...

For further particulars, see the “ Bulletins Revisions ” section near the end of this bulletin. ... The following information relates to that taxation year: Employer A Employer B Total Income received in the year $ 15,000 $ 7,500 $ 22,500 Related expenses paid in the year: Advertising & promotion 400 300 700 Travel* 800 500 1,300 Total $ 1,200 $ 800 $ 2,000 Capital cost allowance on musical instrument deducted under paragraph 8(1)(p) $ 250 $ 100 $ 350 * The taxpayer meets the requirements of paragraph 8(1)(h); consequently, the travel expenses are deductible under that provision. ... [April 24, 2002] In ¶ 10, the following changes were made: ¶ 10 (g) was revised to delete the word “special”. ...

For further particulars, see the “ Bulletins Revisions ” section near the end of this bulletin. ... The following information relates to that taxation year: Employer A Employer B Total Income received in the year $ 15,000 $ 7,500 $ 22,500 Related expenses paid in the year: Advertising & promotion 400 300 700 Travel* 800 500 1,300 Total $ 1,200 $ 800 $ 2,000 Capital cost allowance on musical instrument deducted under paragraph 8(1)(p) $ 250 $ 100 $ 350 * The taxpayer meets the requirements of paragraph 8(1)(h); consequently, the travel expenses are deductible under that provision. ... [April 24, 2002] In ¶ 10, the following changes were made: ¶ 10 (g) was revised to delete the word “special”. ...

Step 2: ½ of ($8,000- $2,500) = $2,750. Step 3: Lesser of $6,250 and $2,750, plus $2,500 = $2,750 + $2,500 = $5,250. Step 4: Lesser of $8,000 and $5,250 = $5,250. Step 5: Amount of loss Barry can deduct in the loss year = $5,250 + $2,000 = $7,250. ... Thus, he ends up applying $5,000 of his 1985 net capital loss of $6,000: Amount Applied Amount Deducted Against 1995 taxable capital gains $ 3,000 $ 4,500 Against 1995 business income $ 2,000 $ 2,000---------------- Total reduction to 1995 taxable income earned in Canada $ 6,500 ===== Total applied in 1995 $ 5,000 Available to be applied in other years $ 1,000-------- $ 6,000 ===== ¶ 17. ...