Alberta small business deduction - at1 schedule 1 - Alberta Finance ... - finance alberta 2026

1. Click ‘Get Form’ to open the Alberta small business deduction - AT1 Schedule 1 in the editor.
2. Begin by entering the taxation year ending in the designated field. Ensure all monetary values are reported in dollars without cents.
3. In AREA A, indicate if your corporation is associated with other Canadian-controlled private corporations by selecting 'Yes' or 'No'. If 'Yes', complete the allocation agreement on page 2.
4. Proceed to report income from active businesses on line 003. Deduct any applicable royalty tax deductions as instructed, and calculate your taxable income accordingly.
5. Complete AREA B to determine the base amount for calculating the Alberta Small Business Threshold. Follow the guidelines for prorating if necessary.
6. Finally, ensure all calculations are accurate and enter the total Alberta Small Business Deduction on AT1 page 2, line 070 before saving or exporting your completed form.

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