7 October 2021 APFF Roundtable Q. 6, 2021-0900961C6 - APFF Q.6 - Minimum Tax Carryover and TOSI -- summary under Transitional Provisions and Policies

After acknowledging that an error in a CRA form had since 2013 led to taxpayers calculating erroneously large AMT carryforward balances, CRA indicated that it was grandparenting not only prior taxation years where an erroneously high carryforward amount was applied, but also unutilized carryforward balances that were erroneously calculated in 2020 and prior years’ returns and could still be erroneously claimed in future taxation years within the seven-year AMT carryforward period.