Corporate Tax Return [T2] Checklist

 
 

To help you assemble your financial information for the preparation of your Corporate Income Tax Return, please keep this checklist handy. The checklist should be completed and returned to us together with the financial information assembled. If the fillable spaces are not enough, please complete the checklist in a word document and send it to us along with the checklist.

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  • First time filers (complete only if it is your first year of operation)

General InformationProvide Details
a. Articles of incorporation Send us a copy
b. Business Number Provide us with the Business Number (9 digit)
 
c. Corporation’s year end date Provide us with the year end date
 
d. Principal products/Services provided Specify principal products/services provided and the % that each product/service is of total revenue
 
 
 
e. Company directors Provide us with name, telephone number and address
 
 
f. Shareholders Provide:
• Name
 
• SIN # if individual
 
• Business # if corporation
 
• % of shares owned & class of shares
 
g. Contact person If different than the authorized signing officer, provide:
Name
 
Telephone Number
 
h. Related/Associated corporations If related/associated with other corporations, complete “Related/Associated Corporations” table on Table 3.
i. Accounting files Provide us with a copy of:
• Bookkeeping file (eg. Quickbooks, Wave Accounting)
OR
• Balance Sheet
• Income Statement
• Trial Balance
• General Ledger, Bank Account & Credit Card Statements (last month of the corporation year only)
• Reconciliation Statement (If applicable)

 

General InformationProvide Details
a. Accounting files Provide us with a copy of:
• Bookkeeping file (eg. Quickbooks, Wave Accounting)
• Balance Sheet
• Income Statement
• Trial Balance
• General Ledger, Bank Account & Credit Card Statements (last month of the corporation year only)
• Reconciliation Statement (If applicable)
b. Details of any changes in the corporation If relevant, provide us with the following (please use a separate Word document if insufficient space):
• Address of the corporation
 
• Shareholders - new or removed, including:
a. SIN # if individual, Business # if corporation
 
b. # of shares owned & classes of shares
 
• Authorized signing officer – Name & phone number
 
• Contact person – Name & phone number
 
• New related or associated corporation – please refer to the “Related/Associated Corporations” table on page 3
 
c. Corporate Income Tax instalments Provide us with the instalment payments made during the year & most recent Statement of Account
 
d. Notice of Assessment Provide us with a copy of the previous year’s Notice of Assessment

  • Related/Associated Corporations

General InformationProvide Details
a. If the corporation is related or associated with any other corporation Provide us with the following:
• Name of the corporation(s)
 
• Country of residence of the corporation
 
• Business Number
 
• Relationship: Related, Associated, Parent, Subsidiary
 
• # of Common shares owned and % of Common shares owned
 
• # of Preferred shares owned and % of Preferred shares owned
 
• Book value of capital stock
 
b. Foreign interest and transactions reporting requirements. 1. Whether your corporation own Foreign Property with cost more than $100,000
2. Whether your corporation has any Controlled/ Non-Controlled Foreign Affiliates.
3. Whether your corporation has entered into any Non-Arms length transactions with non-resident.

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