Form T2142 Part XII.3 Tax Return Tax on Investment Income of Life Insurers (2016 and Later Tax Years) - Canada

Form T2142 Part XII.3 is used by life insurance companies in Canada to report and calculate the tax on investment income earned in a specific tax year. It is specifically designed for tax years starting from 2016 and onwards.

The life insurers in Canada file the Form T2142 Part XII.3 tax return for tax on investment income.

FAQ

Q: What is Form T2142?
A: Form T2142 is a tax return form specifically designed for life insurers in Canada to report and calculate tax on investment income.

Q: What is Part XII.3 of Form T2142?
A: Part XII.3 of Form T2142 is a section that deals with the calculation of tax on investment income of life insurers for the tax years 2016 and later.

Q: Who is required to file Form T2142?
A: Life insurers in Canada are required to file Form T2142 if they have investment income and need to calculate and pay tax on it.

Q: What is tax on investment income of life insurers?
A: Tax on investment income of life insurers is a tax that life insurance companies in Canada must pay on the income generated from their investment activities.

Q: What does Part XII.3 of Form T2142 cover?
A: Part XII.3 of Form T2142 covers the calculation and reporting of tax on investment income of life insurers specifically for the tax years 2016 and later.