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T2 tax calculations
506 GIFI / IGRF

Print this pageForward this document  Update from the GIFI

Which keywords and options from the NETINCOME and TAXONCAPITAL groups are updated with information from the GIFI?

Keyword Option GIFI field(s) Comment
NETINCOME NA 9999
TAX PROVISION Provision for taxes - current 9990
TAX PROVISION Provision for taxes - deferred 9995
DEPRECIATION Tangible assets 8670 + 8459 + 9791
DEPRECIATION Intangible assets 8570 + 9833 + 9832
DEPRECIATION Natural resource assets 8460 + 8650
NET-INC-ADD Loss in equity of subsidiary - affiliate 8232 Negative amount only
NET-INC-ADD Loss from disposal of assets 8210 + 8211 + 8212 + 9609 If sum is negative
NET-INC-ADD SR&ED expenses deducted in fin. statements 9282
NET-INC-ADD Meals and entertainment expenses 8523
NET-INC-ADD Book loss on partnership 8235 + 9615 If sum is negative
NET-INC-ADD Book loss on joint venture 8234 + 9616 If sum is negative
NET-INC-ADD Development expenses claimed in current year 8412
NET-INC-ADD Exploration expenses claimed in current year 8411
NET-INC-ADD Resource deduction in books 8400 to 8410
NET-INC-DED Gain from disposal of assets 8210 + 8211 + 8212 + 9609 If sum is positive
NET-INC-DED Book income on partnership 8235 + 9615 If sum is positive
NET-INC-DED Book income on joint venture 8234 + 9616 If sum is positive
NET-INC-DED Gain in equity of subsidiary, affiliate 8232 Positive amount only
NET-INC-DED Amount paid - environmental trust 3324
GROSSREVENUE N/A 8299 + 9659 If negative 0 will have to be entered
ASSETS N/A 2599 If negative 0 will have to be entered
PAIDUPCAP Paid-up capital stock 3500 + 3520
PAIDUPCAP Retained earnings (deficit) 3849
PAIDUPCAP Contributed surplus 3541
SHARESOFCORPS N/A 1182 + 2242 + 2247 + 2301 + 2303
OTH-LOANS&ADV N/A 2243 + 2248
ELIGINVEST Other obligations of another corp 2182 + 2241 + 2246 + 2306
ELIGINVEST Long-term debt of a financial instit 2361 + 2362 + 2364 + 2360 + 2363
SALES NA 8089

Please note that the DT Max update of the NetIncome and TaxOnCapital groups from the GIFI is only a starting point for your data entry. We strongly recommend that you verify the updates from the GIFI carefully before processing client files, and make the required changes as the case may be.