Ontario Co-operative Education Tax Credit

A client of mine had a coop student this year, and meets the conditions for this to qualify for the Ontario co-operative education tax credit. This was the first fiscal year they had salaries, which were solely for this coop student.

In tax cycle, I am getting an error “the corporation has reported eligible expenditures for the Ontario co-operative education tax credit in column 550452, but the corporation’s salaries and wages paid in previous tax year are not provided at line 550300”

As the corp had no salaries in the previous tax year, I have nothing to enter. Am I doing something wrong here? The only way I can see to remove this error is to input an amount for salaries last year - but they did not have any. If I put in $1, it does not impact anything, but I do not know if there is another way around this, or if I am missing something.

@anastasia
I took a look at the CRA’s specification for this CRA-prescribed review message.
It basically says that line 300 must have a value in this case “UNLESS” the corporation is in its first year after incorporation. Clearly, an oversight in its logic of the review message.

I will allow this review to be signed off in the next release which we plan to have out either this or next week. Unfortunately, there is no workaround unless you enter a value of $1 on line 300.

My apologies for the inconvenience this may be causing you.

Steven

Thank you Steven! Can you please let me know when the next release will be available?

@anastasia You can now download the latest release on our website.

Let me know if that addresses your issue.

Thanks!

Steven

Thank you! It does :slight_smile:

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I understand you so much. Had to have a deal with Education Credits

@sanderslucas82

" I understand you so much. Had to have a deal with Education Credits "
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Note that your reference link article is about taxation Credits in a completely different country.

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Hello Anastasia! I recently received the letter from the client for whom I prepared T2 asking to complete this form. What is the name of the form in Form Explorer? Is it difficult to complete? Any chellenges? Thank you!