My return asks for: "Taxable capital employed in Canada for the previous taxation year". Does anyone know what this is or what to enter?

Answer

What defines "Taxable Capital Employed in Canada for the previous taxation year"?
Updated: Jun 01, 2011
Article ID: INF15139

The Taxable Capital employed in Canada for the previous taxation year can in some situations just be the retained earnings for the year. There are also other amounts that have to be considered in the calculation such as contributed surplus and loans and advances to the corporation. If you go to Schedule 33 line 690 you will see the calculation of what is included and what is deducted for Taxable Capital Employed in Canada.



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