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Investors and rental owners
@dianajw Thank you for your response.
Here are more explanations around AMT. The Alternative Minimum Tax is a separate tax calculation determined in parallel with an individual’s regular income tax calculations. The AMT takes out various tax preferential items that an individual may receive, which lowers his taxable income. Therefore, it is up to the taxpayer to calculate their own AMT.
Here is a link to CRA to help calculate AMT: Minimum tax
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December 5, 2023
6:42 AM