How do I report this income so that it does not become taxable?
Any help would be appreciated.
I report the income on the Sc125 as normal.
Then I have been including a deduction on Sc1 at line 395. I include Canada Carbon Rebate for Small business at line 705 for the description.
This follows what CRA had previously directed when it was taxable, to include on lines 295 and 395. I now omit the amount on line 295 adding it back in. I m=am hoping the will automatically adjust the ones filed prior as taxable.
Thank you for the confirmation. While waiting for a reply, I guessed and did that input. Hopefully, neither of us will get a bounce-back!