Corporate Tax CHECKLIST

Business Federal Number for GST, Payroll, Corp Tax
Owners name & contact info exactly as they are registered on CRA site
Business phone number
Business address
Name of owner
Date of incorporation
First Name: Last Name:
Copy of Articles of Incorporation, list of shareholders with SIN#s if applicable
Incorporation details: owners, directors, shareholders for Schedule 50 require shareholder info, SIN# or BIN#
Shareholder Info: Is company associated with any other companies, if so associated owners, etc.
Trial Balance at year-end & at beginning of fiscal year in excel format
General Ledger detail for fiscal year/reporting period, in excel format
Income Statement for fiscal year/reporting period, in excel format
Balance Sheet for reporting period, in excel format if possible
Accounts Payable & Accounts Receivable Aging Reports at year-end, in excel format if possible. If there are any problem AP or AR please identify, bad debts, errors.
Corporate tax NOA/notices of assessment (federal & provincial) at year-end Corporate tax Instalments - statements showing amounts paid during the year (federal & provincial)
All T-slips any yearly summaries
GST/HST number & copy of last GST return
Copy of year-end bank reconciliation only last period of fiscal year, listing of problems with your bank or credit card reconciliations
Mortgage Statements, if applicable Bank fees for investments, etc. if applicable
Loan Statements, if applicable
List of Equipment, Assets
Copies of purchase agreements for new fixed assets (including loan agreements if they were specifically financed). Fixed Assets = Vehicles, tools, trailers, major equipment etc.
Copies of all fixed assets sold or scrapped
Details of any insurance settlements for damaged, lost or stolen assets
Inventory, as at your year end - item description, quantity on hand, purchase cost, total value
Please BE ADVISED that CRA REQUIRES a fully completed vehicle travel log for each individual vehicle used in your business. CRA auditors are tightening the "reasonable allowance" down to as low as 0% without a completed log. We strongly encourage you to do a complete mileage (travel) log for every business vehicle in your fleet.
If you have employees between the ages to 65 & 70 you MUST have them sign a CPT30 form to elect NOT to pay CPP. You will be liable to pay it if you don’t get the forms signed by them.
BC EHT - BC Employer Health Tax number & last return
BC SAFE/WCB - Corporations are required to cover all family member who are paid salaries or contract payments unless they age of majority & director of your corporation
If home office is not included in company general ledger, details here for fiscal year - Insurance, Mortgage Interest, R&M, Property Taxes, Heat, Elec, Internet, Phone

Corporate Tax CHECKLIST

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