Which form do I need to use to claim B.C. manufacturing and processing investment tax credit?
@suncoastcpa
The CRA has not introduced a new form to support this refundable tax credit yet. This new form will likely be available some in 2027 (we don’t know yet at this point). However, in the next T2 release later this year, T2 Schedule 5 will include a new line to allow corporations to make a claim.
What I can suggest is to file the T2 return without this tax credit for now and do a T2 adjustment when T2 Schedule 5 is revised later this year. At that point, the CRA will be able to process this new credit.
Steven