I received a Notice of Assessment on a recently filed T2 return that has a January 31, 2017 year end. The Assessment worked out as I had calculated, however, I was somewhat disturbed to find the following narrative under the Explanation of changes and other important information;
I don’t know where on the T2 Return I would find this Line 427 to verify what I submitted. Line 425 on the T2 Jacket (Reduced Business Limit) that I submitted with Taxcycle shows an amount of $500,000.00.
Everything looks good on my end, including the business limit, so I don’t know what the CRA received in my T2 transmission, nor can I find line 427 (even with a search). This is the first time I have come across this on filing a T2 return with Taxcycle, but it is also the first 2017 T2 year end I have filed as well.