Get T2203

The T2203 form is essential for calculating provincial and territorial taxes for individuals with business income allocated to multiple jurisdictions in Canada. This guide provides a clear, step-by-step approach to filling out the form online, ensuring that you can navigate it with ease.

Follow the steps to fill out the T2203 form accurately.

1. Click ‘Get Form’ button to obtain the form and open it in your editor.
2. Begin by providing the total net income from line 236 of your return. Include any self-employment income and business income from partnerships while excluding losses.
3. Determine excess income by subtracting line 2 from line 1. If this value is negative, enter '0'.
4. Complete the allocation chart in Part 1. In Column 2, allocate your excess income to each province or territory where you had a permanent establishment during the year.
5. For Column 3, allocate the income to your province or territory of residence. For Column 4, if line 1 is greater than or equal to line 2, add columns 2 and 3 together. If line 1 is less than line 2, calculate the percentage of income for each jurisdiction and multiply this by the value on line 1.
6. Fill out Part 2 if necessary, depending on whether you have allocated income to Quebec or 'Other'. Enter the required federal surtax if applicable.
7. In Part 3, complete the non-refundable tax credits for each applicable province or territory to which income is allocated.
8. Continue to Part 4 to calculate provincial or territorial taxes for each jurisdiction listed.
9. Finally, summarize your provincial and territorial tax in Part 5. Add all amounts entered from each jurisdiction and ensure the total is reflected on line 428 of your return.
10. Once all parts are filled out, save your changes, then download, print, or share the completed T2203 form as needed.

Complete your T2203 form online to ensure accurate tax calculation and compliance.