The last item on this schedule is 9999, Net income/loss after taxes and Extraordinary items. This means the government expected I also report 8762, Business taxes on the income statement?
How could I know before hand how much tax I need to pay?
I had a bad experience about the taxes. Last time I followed the steps on the T2 and filed it with the schedules. When I got back the accessment, I was shock. The result showed the balance on the T2 was for the provincial government, I still owe the federal government tax. Wow!!!
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