Subsection 120.2(1)
Administrative Policy
7 May 2024 CALU Roundtable Q. 11, 2024-1005801C6 - TOSI and AMT credit
A, age 25, had a taxable capital gain, which was not an excluded amount, from disposing of Opco shares, resulting in Part I taxes, including TOSI,...
Subsection 120.2(2)
Administrative Policy
21 December 2004 External T.I. 2004-0093361E5 F - Report de l'impôt minimum de remplacement-décès
CRA indicated that, following the repeal of s. 120.2(2), which allowed for a three-year carryback, there is no provision allowing an individual,...
Subsection 120.2(3)
Paragraph 120.2(3)(b)
Administrative Policy
7 October 2021 APFF Roundtable Q. 6, 2021-0900961C6 - APFF Q.6 - Minimum Tax Carryover and TOSI
S. 120.2(3) computes the “additional tax” alternative minimum tax liability for the year (i.e., the excess of the minimum tax over the Part I...
Locations of other summaries | Wordcount | |
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Tax Topics - General Concepts - Transitional Provisions and Policies | CRA will honour incorrect AMT carryforward balances that arose due to an error in the CRA form | 71 |