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How to fill out the SCHEDULE 564 online
Filling out the SCHEDULE 564 is an essential step for Ontario book publishing companies looking to claim the Ontario book publishing tax credit. This guide will provide a comprehensive overview of each section and field within the form to help users navigate the process confidently.
Follow the steps to fill out your SCHEDULE 564 online.
- Click ‘Get Form’ button to obtain the SCHEDULE 564 and open it in your browser.
- In Part 1, enter the corporate information. Fill in your corporation name as listed on the Certificate of Eligibility, the contact person's name, and a valid telephone number. Indicate whether the claim is for an OBPTC earned through a partnership by selecting 'Yes' or 'No' at line 150.
- If you answered 'Yes' to line 150, provide the name of the partnership and the percentage of the OBPTC allocated to your corporation on lines 160 and 170.
- Proceed to Part 2 to identify the eligible literary work. Enter the Certificate of Eligibility number, title of the literary work, names of the authors or illustrators, the publication date, and the date of the certificate.
- In Part 3, answer the eligibility questions regarding the corporation's status as a Canadian-controlled corporation and whether it has carried out book publishing primarily in Ontario. Indicate your responses on lines 300, 310, 320, and 330.
- In Part 4, enter qualifying expenditures. Fill out the pre-production costs including advances to authors and technical expenditures, followed by production costs, and marketing expenditures. Calculate the total qualifying expenditures, ensuring that only eligible costs are included.
- Move to Part 5 to calculate the tax credit. Multiply the total qualifying expenditures eligible for credit by 30% to determine the credit available. Deduct any credits claimed in previous tax years and calculate the unused credit available.
- Ensure to check your entries for accuracy, and once satisfied, you may choose to save changes, download, print, or share the completed form.
Complete your SCHEDULE 564 online today to claim your Ontario book publishing tax credit.
To effectively report dividends on your tax return, you need to include the total dividend income from all sources on your return. Make sure to clearly indicate any eligible dividends, which can qualify for a tax credit. Consider SCHEDULE 564 as a valuable tool to help ensure accuracy in your filings.
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