*** Transcriber's Note: Please set your voice synthesizer to read most punctuation. When you encounter the caret sign at the end of a line, please enter the applicable information, if necessary. *** Canada Revenue Agency Protected B when completed Code 1601 T2 SCH 28 E (18) Schedule 28 Election not to be Associated Through a Third Corporation (2016 and later tax years) - For use by a Canadian-controlled private corporation (the third corporation) to elect for a tax year under subparagraph 256(2). The effect of the election is that two other corporations will not be associated with each other for the purposes of section 125 at any time in that tax year where they: -- would, but for subsection 256(2), not be associated with each other at any time in that tax year; and -- are associated, or are deemed by this subsection to be associated, with the third corporation at any such time. - The third corporation's business limit for that tax year shall be deemed to be nil. - For tax years that begin after March 21, 2016, the third corporation remains associated with each of the other two corporations, including for purposes of section 125. - The third corporation may elect in respect of many corporations on the same schedule. - All legislative references are to the Income Tax Act. - File this schedule with your T2 return. - A new election must be filed for each applicable tax year. - If you need more space, attach additional schedules. Election Line 010: Date filed (do not use this area) (Year/Month/Day) ^ Line 020: Is this an amended election? Yes or No ^ Box 030: Name of the third corporation ^ Box 040: Business Number ^ Box 050: Tax year-end (Year/Month/Day) ^ *** Transcriber's Note: In print, the following table is set-up as 2 columns with the possibility of 15 entry lines. The columns are labelled as: Column 1: Name of each corporation that would, but for this election, be deemed to be associated with each other; Column 2: Business Number (if a corporation is not registered, enter "NR"). *** Column 1 and box 100: Name of each corporation that would, but for this election, be deemed to be associated with each other ^ Column 2 and box 200: Business Number (if a corporation is not registered, enter "NR") ^