Step 2 - Adjusted federal tax after income sharing |
| Column 1 - You | Column 2 Eligible spouse or common-law partner |
Enter the taxable income from line 260 of the return. | | | 4 | 497 | | | 4 |
Enter the difference between the highest and lowest taxable income amounts that you reported at line 4. | | x 50% | = | | 5 | | | | |
Enter the amount from line 5 or $50,000, whichever is less, in the column with the higher income at line 4. Enter "0" in the other column. | - | | 6 | | - | | 6 |
Lines 4 minus line 6 | = | | 7 | | = | | 7 |
Enter the amount from line 5 or $50,000, whichever is less, in the column with the lower income at line 4. Enter "0" in the other column. | + | | 8 | | + | | 8 |
Add lines 7 and 8. | Adjusted taxable income | = | | 9 | | = | | 9 |
Tax on adjusted taxable income (use charts 1 and 2 on the next page) | | | 10 | | | | 10 |
Enter the amount from line 2. | - | | 11 | | - | | 11 |
Line 10 minus line 11 (if negative, show it in brackets) | = | | 12 | | = | | 12 |
Enter the spouse or common-law partner amount from line 303 of Schedule 1. (Note: If the claim on line 303 includes the family caregiver amount, use chart 3 on the next page to calculate the amount to enter on this line.) | | | 13 | 498 | | | 13 |
Enter the amounts transferred from your spouse or common-law partner from line 326 of Schedule 1. If this amount includes a transfer of tuition, education, and textbook amounts on line 360 of Schedule 2, reduce the amount to be claimed on this line by the amount from line 326 or line 360, whichever is less. | + | | 14 | 499 | + | | 14 |
Add lines 13 and 14. | = | | 15 | | = | | 15 |
Federal non-refundable tax credit rate (%) | x | | 16 | | x | | 16 |
Multiply line 15 by line 16. | Adjustment to non-refundable tax credits | = | | 17 | | = | | 17 |
Enter the amount from line 12 (if negative, show it in brackets). | | | 18 | | | | 18 |
If the amount on line 18 is positive, add lines 17 and 18. If the amount on line 18 is in brackets (negative), subtract line 18 from line 17 (if the result is negative, enter "0"). | Adjusted federal tax after income sharing | = | | 19 | | = | | 19 |