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- CCR Canada Carbon Rebate for small businesses
CCR Canada Carbon Rebate for small businesses
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dcaprofessional
Level 1
2 weeks ago
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Small businesses in Canada are receiving cheques and direct deposits for the CCR, which is based on the number of employees per calendar year going back to 2019. It is now determined that these rebates are tax-exempt but that they should be reported as revenue for tax purposes. So on the T2, where exactly is that adjustment? Schedule S1 has no such pre-filled line to deduct the rebate. Should preparers use line "705 - Other" on S1 and enter the CCR manually? Also what GIFI line would you use for the rebate since it's also been stated that this is not 'assistance' (8242).
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George4Tacks
Level 15
2 weeks ago
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Your post has been also put into the US version of the program. I hope you get help with ProFile. https://quickbooks.intuit.com/learn-support/profile-community/misc/03/profile-en-ca
Answers are easy. Questions are hard!
