General Index of Financial Information (GIFI)

RC4088(E) Rev. 11

If you have a visual impairment, you can get our publications in braille, large print, etext (CD), or MP3. For more information, go to About multiple formats page or call 1-800-959-2221.

---

Table of contents

• What’s new for 2011?
• General Index of Financial Information (GIFI)
  • When do you use the GIFI?
  • Can I file using My Business Account or the Represent a Client service?
  • How do you use the GIFI?
  • What level of detail is required with the GIFI?
  • What about notes to the financial statements?
  • What is the GIFI-Short?
  • What are GIFI schedules?
  • Where can you get a copy of the GIFI form, guides, and schedules?
• General information for corporations
  • Who can use the GIFI?
  • First year after incorporation
  • Deferred expense statements
  • Reporting in Canadian funds
  • Reporting negative amounts
  • Reporting in dollars
  • Reporting unconsolidated financial statement information
  • Reporting multiple lines of business
  • GIFI schedules for corporations
• General information for partnerships
  • Who can use the GIFI?
  • Reporting negative amounts
  • Reporting in Canadian funds
  • Reporting in dollars
  • Reporting multiple lines of business
  • Inactive partnerships
  • GIFI schedules for partnerships
• Using the GIFI
  • Validity check items
  • How to select GIFI items
  • Reporting an amount that combines two or more items
  • Completing the notes checklist
    • Part 1 - Information on the accountant who prepared or reported on the financial statements
    • Part 2 - Type of involvement with the financial statements
    • Part 3 - Reservations
    • Part 4 - Other information
  • Notes to the financial statements
  • Examples - Using the GIFI
• Appendix A - Complete listing of the GIFI
  • Balance Sheet Information
• Appendix B - Reporting multiple lines of business
  • Completing the main and supplementary income statements
  • Using the same GIFI item on different statements
  • Example - Multiple lines of business
• Appendix C - Non-profit organizations
• For more information
• Your opinion counts

---

Is this guide for you?

All corporations - except for insurance corporations - and all partnerships can file using the General Index of Financial Information (GIFI). For more information, see Who can use the GIFI?

This guide provides general information and explains how to use the GIFI.

What’s new for 2011?

General Index of Financial Information (GIFI)

You have to include financial statement information when you file a T2 Corporation Income Tax Return or a T5013 Partnership Information Return. When you use the GIFI, you do not have to submit your financial statements with your return and schedules. The GIFI is an extensive list of financial statement items, where each item has a unique code (for example, cash is 1001).

You can find a complete listing of GIFI items and their codes in Appendix A.

When do you use the GIFI?

Use the GIFI to submit your financial statement information for both paper- and Internet-filed returns.

Note
A T5013 return can only be filed on paper.

For more information about our Internet filing service for corporations, go to Corporation Internet Filing.

Can I file using My Business Account or the Represent a Client service?

You can file corporation returns online using the "Transmit a return" service at:

• Represent a Client, if you are an authorized representative or employee; or
• My Business Account, if you are the business owner.

How do you use the GIFI?

The GIFI is available as part of both T2 tax and partnership information return preparation software programs certified by the Canada Revenue Agency (CRA). It is also included in some utility programs that allow you to import information from an accounting software program to a return preparation program. If you do not use return preparation software, see What is the GIFI-Short?, GIFI schedules for corporations, or GIFI schedules for partnerships. Once you choose a GIFI code for each item you report on your financial statements, only the item code and amount will be included on your return.

What level of detail is required with the GIFI?

We need the same level of detail with the GIFI as we needed from traditional financial statements. For example, if your financial statements include 40 items such as cash, accounts receivable, total assets, sales, cost of sales, income taxes, and net income after taxes, we expect that same number of GIFI codes. There is no minimum number of GIFI codes needed for your return to be accepted. We need as many GIFI codes as it takes to represent your balance sheet and income statement in their entirety.

Note
Although you need to keep the working papers used to show the accounts or sub-accounts that make up a financial statement item, do not submit them when filing your return.

What about notes to the financial statements?

Submit any notes to your financial statements with your GIFI information. If you file a
T2 Corporation Income Tax Return electronically, you have to include the notes in text format with your transmission. Your software package should enable you to transfer the notes to the file you are transmitting, without rekeying. If you file a paper T2 Corporation Income Tax Return or a T5013 Partnership Information Return, include a paper copy of your notes.

For examples on how to complete the notes checklist and the notes to the financial statements, see Example 1 - Financial statements for a corporation.

What is the GIFI-Short?

The GIFI-Short is intended for corporations only. If your corporation does not use return preparation software, and has both gross revenue and assets of less than one million dollars each, use the paper version of the GIFI - Form T1178, General Index of Financial Information - Short. You can choose from about 100 commonly used balance sheet and income statement items. A separate selection of income statement items that can be used by farming corporations is also included.

What are GIFI schedules?

Schedules T2SCH100, Balance Sheet Information, T2SCH101, Opening Balance Sheet Information, and T2SCH125, Income Statement Information, provide spaces in column format for you to write your GIFI field codes and corresponding amounts. Schedule T2SCH141, Notes Checklist, is for completing the notes checklist.

Note
If you file a T2 return without using tax preparation software or Form T1178, you can use the GIFI schedules.

If you file a T5013 return, you should use the GIFI schedules for partnerships. Schedules T5013 SCH 100, Balance Sheet Information, and T5013 SCH 125, Income Statement Information, provide spaces in column format for you to write your GIFI field codes and corresponding amounts.
Schedule T5013 SCH 141, Financial Statement Notes Checklist, is for completing the notes checklist.

Where can you get a copy of the GIFI form, guides, and schedules?

The GIFI form, guides, and schedules are available at Forms and publications or by calling 1‑800‑959‑2221.

General information for corporations

Who can use the GIFI?

All corporations - except for insurance corporations - can file using the GIFI.

Insurance corporations

The GIFI does not currently meet the reporting needs of insurance corporations involved in underwriting (life insurers, deposit insurers, or property and casualty insurers). The GIFI does not include items specific to the insurance industry. You should continue to submit a paper copy of your financial statements with your T2 return and schedules.

Non-resident corporations

You can use the GIFI when you report in unconsolidated Canadian funds. Non-resident corporations cannot report in a functional currency. Do not use the GIFI if you are filing under section 115 of the Income Tax Act only because you disposed of taxable Canadian property or because you are a treaty-based exempt corporation.

Inactive corporations

If your corporation is inactive (you answered yes at line 280 of the T2 return), but you have balance sheet or income statement information to report, you can use the GIFI to file this information.

First year after incorporation

You may be filing for the first year after incorporation. If so, complete two balance sheets: an opening and a closing. If you are not using a software package approved by us to complete this information, and you are using Form T1178, write "opening" in the top right-hand corner of the appropriate balance sheet. If you are using the GIFI schedules, Schedule T2SCH100, Balance Sheet Information, is for the closing balance sheet information and Schedule T2SCH101, Opening Balance Sheet Information, is for the opening balance sheet information.

Deferred expense statements

You may be involved in exploration and development that has not yet generated significant sales revenue and you may have capitalized deferred expenditures. If so, do not use the GIFI to itemize these expenditures. You should report the aggregate deferred expenditures as balance sheet information. As well, you have to report "0" in the required fields on your income statement information (see Validity check items).

Reporting in Canadian funds

Report your financial statement information in Canadian funds even if you are a Canadian branch of a foreign corporation. You can report in a functional currency if you are an eligible corporation that has filed Form T1296, Election, or Revocation of an Election, to Report in a Functional Currency and elected to file in a functional currency under section 261 of the Income Tax Act.

Reporting negative amounts

If you are using a software package, it will show you how to mark items as negative amounts. If you do not use a software package, you should mark negative amounts using brackets or a minus sign.

Reporting in dollars

Report your financial statement amounts in actual dollars; do not report cents. For example, report cash of $10,500.75 as 10501 under item 1001, "Cash". Do not report amounts in thousands or millions of dollars.

Note
You can report in a functional currency if you are an eligible corporation that has filed Form T1296 and elected to file in a functional currency under section 261 of the Income Tax Act.

Reporting unconsolidated financial statement information

Report your financial statement information for each legal entity (unconsolidated). Include all unincorporated branches or divisions within that legal corporate entity.

Reporting multiple lines of business

You may have multiple lines of business. For more information on how to report this type of situation using the GIFI, see Appendix B.

GIFI schedules for corporations

If you file a T2 return without using return preparation software or Form T1178, you can use the GIFI schedules.

T2SCH100, Balance Sheet Information

Schedule 100 shows the corporation’s financial position at the end of the tax year.

T2SCH101, Opening Balance Sheet Information

Schedule 101 shows the corporation’s opening balance sheet information for the first return of a new corporation.

T2SCH125, Income Statement Information

Schedule 125 shows the income generated and the expenses incurred by the corporation during the tax year.

T2SCH140, Summary Statement

If you are submitting supplementary income statements, you will also need to complete and file Schedule T2SCH140, Summary Statement. This schedule is at the bottom of page 2 of Schedule T2SCH125.

T2SCH141, Notes Checklist

Schedule T2SCH141 is a set of questions designed to determine who prepared the financial statements and the extent of their involvement, and whether they expressed any reservations. It also identifies the type of information contained in the notes to the financial statements.

Include any notes to the financial statements and the auditor or accountant’s report, if they were prepared. You have to include this information even if you are filing your return using tax preparation software.

General information for partnerships

Who can use the GIFI?

All partnerships filing a T5013 Partnership Information Return can file using the GIFI.

Reporting negative amounts

You should mark negative amounts using brackets or a minus sign.

Reporting in Canadian funds

Report your financial statement information in Canadian funds even if you are a Canadian branch of a foreign partnership.

When a corporate member of the partnership has elected to report in a functional currency, the partnership has to use the same functional currency as its corporate partner.

If one corporate member has elected to report in a functional currency and another has not, or has elected to report in another functional currency, the partnership is required to identify and file separate financial statements and schedules for each different functional currency elected by its members.

Reporting in dollars

Report your financial statement amounts in actual dollars. Do not report cents. For example, report cash of $10,500.75 as 10501 under item 1001, "Cash." Do not report amounts in thousands or millions of dollars.

Note
You have to report in functional currency if one or more of your corporate members has elected to report in functional currency.

Reporting multiple lines of business

You may have multiple lines of business. For information on how to report for such a situation using the GIFI, see Appendix B.

Inactive partnerships

If your partnership is inactive (you answered yes at line 280 of the T5013 FIN), but you have balance sheet or income statement information to report, you can use the GIFI to file this information. An inactive (non-operating) partnership can still have income and/or expenses in a year. It may pay a monthly service charge to maintain a bank account or it may earn interest or dividends from income producing assets it held. It may also have received income that was shown as receivable in the previous year.

GIFI schedules for partnerships

Each partnership should include complete financial statement information for the fiscal period of the return using the GIFI schedules for partnerships.

T5013 SCH 100, Balance Sheet Information

The T5013 Partnership Information Return should include Schedule T5013 SCH 100 showing the partnership’s financial position at the end of the fiscal period.

T5013 SCH 125, Income Statement Information

The T5013 Partnership Information Return should include Schedule T5013 SCH 125 showing the income generated and expenses incurred by the partnership during the fiscal period.

T5013 SCH 140, Summary Statement

If you are submitting supplementary income statements, you will also need to complete and file Schedule T5013 SCH 140, Summary Statement. This schedule is at the bottom of page 2 of Schedule T5013 SCH 125.

T5013 SCH 141, Financial Statement Notes Checklist

Schedule T5013 SCH 141 has questions designed to determine who prepared the financial statements and the extent of their involvement, and to identify the type of information contained in the notes to the financial statements.

Include any notes to the financial statements and the auditor or accountant’s report, if they were prepared.

Using the GIFI

1. Select the items usually reported on your balance sheet from items in the 1000 to 3849 range.
2. Select the items usually reported on your income statement from items in the 7000 to 9970 range.
   
   Note
   Items 9370 to 9899 relate specifically to farming income and expenses.
   
   
3. Select the items usually reported in your extraordinary items and income taxes from items in the 9975 to 9999 range.

Validity check items

The GIFI information has to balance. We use the following rules to check the information you provide:

• total assets = total liabilities + total equity
• total revenue – total expenses = net non-farming income
• total farm revenue – total farm expenses = net farm income

You have to provide certain line items so that we can check the above equations. Each GIFI must include:

Balance sheet
Item 2599 – Total assets
Item 3499 – Total liabilities
Item 3620 – Total shareholder equity (item for use by corporations) or Item 3630 – Total partners’ capital (item for use by partnerships)

Non-farming income and expenses
Item 8299 – Total revenue
Item 9368 – Total expenses

and/or

Farming income and expenses
Item 9659 – Total farm revenue
Item 9898 – Total farm expenses

When reporting a breakdown of retained earnings
Item 3849 – Retained earnings/deficit dash - End

Extraordinary items and income taxes
Item 9999 – Net income/loss after taxes and extraordinary items

The amount of a required item may be nil. If so, enter "0."

Note
These required fields do not represent the minimum number of items that have to be GIFI-coded and filed with the CRA. These are codes that must be included along with all the other GIFI codes needed to represent your financial statements.

For examples, see the GIFI for corporations and partnerships.

How to select GIFI items

The GIFI consists of items you find on a balance sheet and on an income statement. The balance sheet section consists of items pertaining to assets, liabilities, and equity. Items specific to retained earnings are included in this area as well. The income statement section consists of items you find under revenue, cost of sales, and expenses. Due to the specific reporting needs of the agriculture industry, we have provided a separate section for farming revenue and expenses. A section for extraordinary items and income taxes can be found after the farming section. For a complete listing of GIFI items, see Appendix A.

We have further divided the GIFI into blocks of items within these sections. The item at the start of each block is highlighted. The highlighted item represents the generic term for items within the block. You may not find the item that is an exact, or close, match to the item on your financial statements. If that is the case, use the generic item.

Note
The generic item at the start of each block does not represent the total of the items in the block.

Assuming that you will prepare the GIFI from your own financial statements, use the following process when you select GIFI items:

• select an exact match from the GIFI items on your financial statements;
• if you cannot find an exact match, select the most appropriate item; or
• if you cannot find an appropriate item, select the generic item.

Reporting an amount that combines two or more items

An amount in your financial statement information may combine two or more GIFI items. To report this amount, determine which item is the greater or greatest amount and choose the most appropriate GIFI item.

Completing the notes checklist

The notes checklist is included with the GIFI in all CRA-approved software packages. Complete the notes checklist when you use the GIFI to report your financial statement information. Parts 1, 2, and 3 must be completed from the perspective of the person (referred to on the form as the "accountant") who prepared or reported on the financial statements. If you are preparing the return, but you are not the accountant referred to above, you must still complete Parts 1, 2, 3, and 4, as applicable. You can see examples of a completed Schedule 141 for a corporation and for a partnership.

Part 1 - Information on the accountant who prepared or reported on the financial statements

Answer these two questions about the accountant who prepared or reported on the financial statements. Indicate whether the accountant has a professional designation and whether the accountant is connected to the corporation or the partnership by ticking either the yes or no box for each question.

Note
If the accountant does not have a professional designation or is connected to the corporation or the partnership, you do not have to complete Part 2 - Type of Involvement with the financial statements, or Part 3 - Reservations. However, you do have to complete Part 4 - Other Information, as applicable.

Part 2 – Type of involvement with the financial statements

Choose the option that represents the highest level of involvement of the accountant.

Part 3 – Reservations

If you selected option 1 or 2 in Part 2 - Type of involvement with the financial statements, answer question 099, "Has the accountant expressed a reservation?"

Part 4 – Other information

If you have a professional designation and are not the accountant associated with the financial statements in Part 1, tick either option 1 or 2 at line 110.

If you answer yes to question 101, answer questions 104 to 107.

If you answer yes to question 108 of Schedule T5013 SCH 141, answer question 109.

If you answer yes to question 200, answer questions 210 to 236, as applicable.

If you answer yes to question 265, you have to maintain a separate reconciliation.

Notes to the financial statements

You may have prepared notes to the financial statements. If so, include them with the GIFI. If you file a T2 return electronically, you have to include the notes with your transmission. Your software package should enable you to transfer the notes to the file you are transmitting, without re-keying.

Notes
You cannot include tables and graphs in the notes if you are filing a T2 return electronically. You have to convert this type of information to plain text.

You may choose to report on the GIFI breakdowns of items such as capital assets or investments shown in the notes.

Examples - Using the GIFI

The following examples represent a typical set of financial statements for a corporation and for a partnership. The first two columns show the item and the amount reported on the financial statement; the third and fourth columns show the corresponding GIFI code and name.

Note
These examples are only a guideline. They are not meant to dictate what to put on your statements or how to file.

Notes to financial statements

Note 1. Basis of presentation

The financial statements have been prepared by management in accordance with accounting principles generally accepted in Canada and using historic cost as the basis of presentation.

Note 2. Fixed assets

	Cost	Accumulated amortization	Net
Office furniture and equipment	9,793	4,010	5,783
Computer equipment	3,174	1,852	1,322
Computer software	3,665	3,665
Machinery and equipment	37,981	16,072	21,909
Leasehold improvements	41,577	20,788	20,789
Total	96,190	46,387	49,803

Note 3. The investment is stated at cost and consists of shares in a Canadian affiliated corporation.

Example 3 - Completed notes checklist for a corporation

Part 1 - Information on the accountant who prepared or reported on the financial statements
Does the accountant have a professional designation?	095	1 Yes		2 No
Is the accountant connected* with the corporation?	097	1 Yes		2 No
* A person connected with a corporation can be: (i) a shareholder of the corporation who owns more than 10% of the common shares; (ii) a director, an officer, or an employee of the corporation; or (iii) a person not dealing at arm’s length with the corporation. Note If the accountant does not have a professional designation or is connected to the corporation, you do not have to complete Parts 2 and 3 of this schedule. However, you do have to complete Part 4 as applicable.
Part 2 - Type of involvement with the financial statements
Choose the option that represents the highest level of involvement of the accountant:	198
Completed an auditor’s report	1
Completed a review engagement report	2
Conducted a compilation engagement	3
Part 3 - Reservations
If you selected option "1" or "2" under Type of involvement with the financial statements above, answer the following question:
Has the accountant expressed a reservation?	099	1 Yes		2 No
Part 4 - Other information
If you have a professional designation and are not the accountant associated with the financial statements in Part 1 above, choose one of the following options:
	110
Prepared the tax return (financial statements prepared by client)	1
Prepared the tax return and the financial information contained therein (financial statements have not been prepared)	2
Were notes to the financial statements prepared?	101	1 Yes		2 No
If yes, complete lines 104 to 107 below:
Are subsequent events mentioned in the notes?	104	1 Yes		2 No
Is re-evaluation of asset information mentioned in the notes?	105	1 Yes		2 No
Is contingent liability information mentioned in the notes?	106	1 Yes		2 No
Is information regarding commitments mentioned in the notes?.	107	1 Yes		2 No
Does the corporation have investments in joint venture(s) or partnership(s)?	108	1 Yes		2 No
Impairment and fair value changes In any of the following assets, was an amount recognized in net income or other comprehensive income (OCI) as a result of an impairment loss in the tax year, a reversal of an impairment loss recognized in a previous tax year, or a change in fair value during the tax year?	200	1 Yes		2 No
If yes, enter the amount recognized:	In net income Increase (decrease)		In OCI Increase (decrease)
Property, plant, and equipment	210			211
Intangible assets	215			216
Investment property	220
Biological assets	225
Financial instruments	230			231
Other	235			236
Financial instruments
Did the corporation derecognize any financial instrument(s) during the tax year?	250	1 Yes		2 No
Did the corporation apply hedge accounting during the tax year?	255	1 Yes		2 No
Did the corporation discontinue hedge accounting during the tax year?	260	1 Yes		2 No
Adjustments to opening equity
Was an amount included in the opening balance of retained earnings or equity, in order to correct an error, to recognize a change in accounting policy, or to adopt a new accounting standard in the current year?	265	1 Yes		2 No
If yes, you have to maintain a separate reconciliation.

Example 4 - Completed Financial statement notes checklist for a partnership

Part 1 - Information on the accountant who prepared or reported on the financial statements
Does the accountant have a professional designation?	095	1 Yes		2 No
Is the accountant connected with the partnership?*	097	1 Yes		2 No
Note If the accountant does not have a professional designation or is connected with the partnership, you do not have to complete Parts 2 and 3 below. * A person connected with a partnership can be: (i) a member of the partnership who owns more than 10% of the partnership units; (ii) an employee of the partnership; or (iii) a person not dealing at arm’s length with the partnership.
Part 2 - Type of involvement with the financial statements
Choose the option that represents the accountant’s highest level of involvement:	198
Completed an auditor’s report				1
Completed a review engagement report				2
Conducted a compilation engagement				3
Part 3 - Reservations
If you selected option 1 or 2 in Part 2 above, answer the following question:
Has the accountant expressed a reservation?	099	1 Yes		2 No
Part 4 - Other information
If you have a professional designation and are not the accountant associated with the financial statements in Part 1 above, choose one of the following options (tick 1 or 2):
	110
Prepared the information return (financial statements prepared by client)				1
Prepared the information return and the financial information contained therein (financial statements have not been prepared)				2
Were notes to the financial statements prepared?	101	1 Yes		2 No
If yes, complete the following 4 questions:
Are subsequent events mentioned in the notes?	104	1 Yes		2 No
Is re-evaluation of asset information mentioned in the notes?	105	1 Yes		2 No
Is contingent liability information mentioned in the notes?	106	1 Yes		2 No
Is information regarding commitments mentioned in the notes?.	107	1 Yes		2 No
Does the partnership have investments in joint venture(s)? If yes, complete line 109 below:	108	1 Yes		2 No
Are you filing joint venture(s) financial statements?	109	1 Yes		2 No
Impairment and fair value changes In any of the following assets, was an amount recognized in net income or other comprehensive income as a result of an impairment loss in the fiscal period, a reversal of an impairment loss recognized in a previous fiscal period, or a change in fair value during the fiscal period?	200	1 Yes		2 No
If yes, enter the amount recognized:	In net income Increase (decrease)		In other comprehensive income Increase (decrease)
Property, plant, and equipment	210			211
Intangible assets	215			216
Investment property	220
Biological assets	225
Financial instruments	230			231
Other	235			236
Financial instruments
Did the partnership derecognize any financial instrument(s) during the fiscal period?	250	1 Yes		2 No
Did the partnership apply hedge accounting during the fiscal period?	255	1 Yes		2 No
Did the partnership discontinue hedge accounting during the fiscal period?	260	1 Yes		2 No
Adjustments to opening equity
Was an amount included in the opening balance of retained earnings or equity, in order to correct an error, to recognize a change in accounting policy, or to adopt a new accounting standard in the current fiscal period?	265	1 Yes		2 No
If yes, you have to maintain a separate reconciliation.

Appendix A - Complete listing of the GIFI

The following is a complete list of the GIFI items. Some of the items include more detail as to the type of information you could report in the item.

Balance Sheet Information

Assets

Current assets

1000		Cash and deposits
1001		Cash
		bank drafts, bank notes, cheques, coins, currency, money orders, postal notes, and post-dated cheques
1002		Deposits in Canadian banks and institutions - Canadian currency
1003		Deposits in Canadian banks and institutions - Foreign currency
1004		Deposits in foreign banks - Canadian currency
1005		Deposits in foreign banks - Foreign currency
1006		Credit union central deposits
1007		Other cash-like instruments gold bullion and silver bullion
1060		Accounts receivable
		claims, dividends, royalties, and subsidies receivable
1061		Allowance for doubtful accounts
1062		Trade accounts receivable
1063		Allowance for doubtful trade accounts receivable
1064		Trade accounts receivable from related parties
1065		Allowance for doubtful trade accounts receivable from related parties
1066		Taxes receivable
		GST/HST, income tax refunds, and tax credits receivable
1067		Interest receivable
1068		Holdbacks receivable
1069		Leases receivable
1070		Allowance for doubtful amounts contained in leases receivable
1071		Accounts receivable from employees
1072		Allowance for doubtful accounts receivable from employees
1073		Amounts receivable from members of NPOs
		This item is intended for corporations that are non-profit organizations to report amounts receivable from members.
1120		Inventories
1121		Inventory of goods for sale
		finished goods
1122		Inventory parts and supplies
1123		Inventory properties
		This item is intended for companies whose primary activities are real estate, subdivision, or construction, and who have real estate held for sale.
1124		Inventory of aggregates
1125		Work in progress
		goods in process
1126		Raw materials
1127		Inventory of securities
		This item is intended for companies such as brokers, stockbrokers, financial institutions, and investment companies that hold securities for sale.
1180		Short-term investments
		short-term marketable securities
1181		Canadian term deposits
		short-term bearer deposit notes, collateral deposits, and guaranteed investment certificates
1182		Canadian shares
1183		Canadian bonds
		bond coupons, bond deposits, corporate bonds, government bonds, and debentures shown current
1184		Canadian treasury bills
1185		Securities purchased under resale agreements
1186		Other short-term Canadian investments
1187		Short-term foreign investments
		all types of foreign investment shown current
1240		Loans and notes receivable
1241		Demand loans receivable
		amounts such as call loans, day loans, and demand loans
1242		Other loans receivable
1243		Notes receivable
1244		Mortgages receivable
Items 1300 to 1303 - Current amounts due from shareholders/directors, such as advances, loans, and notes
1300		Due from shareholder(s)/director(s)
1301		Due from individual shareholder(s)
1302		Due from corporate shareholder(s) due from parent company
1303		Due from director(s)
Items 1310 to 1314 - Current advances/loans/notes between the partners and the partnership (items for use by partnerships)
1310		Due from member(s)/general partner(s)
1311		Due from limited partners
1312		Due from members that are partnerships
1313		Due from general partners
1314		Due from specified members who are not limited partners
1360		Investment in joint venture(s)/partnership(s)
		current investment or equity in joint venture(s), partnership(s), and syndicate(s)
1380		Due from joint venture(s)/partnership(s) (item for use by corporations)
		current amounts due from joint venture(s)/partnership(s), or syndicate(s), such as advances, loans, and notes
Items 1400 to 1403 - Related parties can refer to affiliate, associated, and subsidiary corporations.
Note Current investment in a parent company should be reported under item 1400. However, item 1302 should be used for current amounts due from a parent company.
1400		Due from/investment in related parties
1401		Demand notes from related parties
		amounts due from related parties such as call loans, day loans, and demand loans
1402		Interest receivable from related parties
1403		Loans/advances due from related parties
1460		Customers’ liability under acceptances
		This item is for financial institutions – Any amount reported under this item should be equal to the amount reported in the Liabilities section as "acceptances" (for example, item 2940, "Bankers’ acceptances").
1480		Other current assets
1481		Future (deferred) income taxes
		income taxes applicable to future years, and reserve for income taxes, shown current
1482		Accrued investment income
1483		Taxes recoverable/refundable
1484		Prepaid expenses
1485		Drilling advances
1486		Security/tender deposits
1599		Total current assets
Capital assets
Items 1600 to 2179 - Capital assets - Throughout the GIFI, depreciation is referred to as amortization of tangible assets, depletion is referred to as amortization of natural resource assets, and amortization is referred to as amortization of intangible assets.
Items 1600 to 2009 - Tangible capital assets - Item 2008, "Total tangible capital assets," represents the sum of all tangible capital assets reported, and item 2009, "Total accumulated amortization of tangible capital assets," represents the sum of all the accumulated amortization of the tangible capital assets reported, within items 1600 to 1922.
When reporting this breakdown, the net final amount of the tangible capital assets is not to be shown anywhere on the GIFI. However, if your financial statements show an amount for "fixed assets (net)" for which there is no breakdown, this could be reported under item 2008, "Total tangible capital assets."
1600		Land
1601		Land improvements
		landscaping
1602		Accumulated amortization of land improvements
1620		Depletable assets
		costs for mine-stripping, well drilling, and waste removal
1621		Accumulated amortization of depletable assets
1622		Petroleum and natural gas properties
1623		Accumulated amortization of petroleum and natural gas properties
1624		Mining properties
1625		Accumulated amortization of mining properties
1626		Deferred exploration and development charges
1627		Accumulated amortization of deferred exploration and development charges
1628		Quarries
1629		Accumulated amortization of quarries
1630		Gravel pits
1631		Accumulated amortization of gravel pits
1632		Timber limits
1633		Accumulated amortization of timber limits
1680		Buildings
1681		Accumulated amortization of buildings
1682		Manufacturing and processing plant
1683		Accumulated amortization of manufacturing and processing plant
1684		Buildings under construction
1740		Machinery, equipment, furniture, and fixtures
1741		Accumulated amortization of machinery, equipment, furniture, and fixtures
1742		Motor vehicles
1743		Accumulated amortization of motor vehicles
1744		Tools and dies
1745		Accumulated amortization of tools and dies
1746		Construction and excavating equipment
1747		Accumulated amortization of construction and excavating equipment
1748		Forestry and logging equipment
1749		Accumulated amortization of forestry and logging equipment
1750		Fishing gear and nets
		sonar equipment
1751		Accumulated amortization of fishing gear and nets
1752		Mining equipment
1753		Accumulated amortization of mining equipment
1754		Oil and gas systems
		pipelines and distribution systems
1755		Accumulated amortization of oil and gas systems
1756		Production equipment for resource industries
1757		Accumulated amortization of production equipment for resource industries
1758		Production equipment for other than resource industries
1759		Accumulated amortization of production equipment for other than resource industries
1760		Exploration equipment
1761		Accumulated amortization of exploration equipment
1762		Shipping equipment
1763		Accumulated amortization of shipping equipment
1764		Ships and boats
1765		Accumulated amortization of ships and boats
1766		Aircraft
1767		Accumulated amortization of aircraft
1768		Signs
1769		Accumulated amortization of signs
1770		Small tools
1771		Accumulated amortization of small tools
1772		Radio and communication equipment
1773		Accumulated amortization of radio and communication equipment
1774		Computer equipment/software
1775		Accumulated amortization of computer equipment/software
1776		Musical instruments
1777		Accumulated amortization of musical instruments
1778		Satellites
1779		Accumulated amortization of satellites
1780		Earth stations
1781		Accumulated amortization of earth stations
1782		Machinery and equipment under construction
1783		Transportation equipment
1784		Accumulated amortization of transportation equipment
1785		Other machinery and equipment
1786		Accumulated amortization of other machinery and equipment
1787		Furniture and fixtures
1788		Accumulated amortization of furniture and fixtures
1900		Other tangible capital assets
		art, books, chinaware, cutlery, utensils, uniforms, culverts, dams, golf courses, grain elevators, grandstands, swimming pools, towers, and trailer parks
1901		Accumulated amortization of other tangible capital assets
1902		Logging roads
1903		Accumulated amortization of logging roads
1904		Asphalt and parking areas
1905		Accumulated amortization of asphalt and parking areas
1906		Wharves
		docks, float walks, and marinas
1907		Accumulated amortization of wharves
1908		Fences
1909		Accumulated amortization of fences
1910		Capital leases - Buildings
1911		Accumulated amortization of capital leases - Buildings
1912		Capital leases - Equipment
1913		Accumulated amortization of capital leases - Equipment
1914		Capital leases - Vehicles
1915		Accumulated amortization of capital leases - Vehicles
1916		Capital leases - Others
		rented signs
1917		Accumulated amortization of capital leases – Others
1918		Leasehold improvements
1919		Accumulated amortization of leasehold improvements
1920		Other capital assets under construction
1921		Campsites
1922		Accumulated amortization of campsites
2008		Total tangible capital assets
2009		Total accumulated amortization of tangible capital assets
Items 2010 to 2179 - intangible capital assets - Item 2178, "Total intangible capital assets," represents the sum of all intangible capital assets reported, and item 2179, "Total accumulated amortization of intangible capital assets," represents the sum of all the accumulated amortization of the intangible capital assets reported, within items 2010 to 2077. When reporting this breakdown, the net final amount of the intangible capital assets is not to be shown anywhere on the GIFI. However, if your financial statements show an amount for "intangibles" for which there is no breakdown, this item could be reported under Item 2178, "Total intangible capital assets."
2010		Intangible assets
		concessions, formulas, franchises, and organization costs
2011		Accumulated amortization of intangible assets
2012		Goodwill
2013		Accumulated amortization of goodwill
		applies to tax years before 2002
2014		Quota
2015		Accumulated amortization of quota
2016		Licences
2017		Accumulated amortization of licences
2018		Incorporation costs
2019		Accumulated amortization of incorporation costs
2020		Trademarks/patents
2021		Accumulated amortization of trademarks/patents
2022		Customer lists
2023		Accumulated amortization of customer lists
2024		Rights
2025		Accumulated amortization of rights
2026		Research and development
2027		Accumulated amortization of research and development
2070		Resource rights
2071		Accumulated amortization of resource rights
2072		Timber rights
2073		Accumulated amortization of timber rights
2074		Mining rights
2075		Accumulated amortization of mining rights
2076		Oil and gas rights
2077		Accumulated amortization of oil and gas rights
2178		Total intangible capital assets
2179		Total accumulated amortization of intangible capital assets
Long-term assets Items 2180 to 2183 - Long-term amounts due from shareholder(s)/director(s), such as advances, loans, and notes
2180		Due from shareholder(s)/director(s)
2181		Due from individual shareholder(s)
2182		Due from corporate shareholder(s)
		due from parent company
2183		Due from director(s)
2190		Due from members
		advances, loans, and notes to members of co-operatives or credit unions
2200		Investment in joint venture(s)/partnership(s)
		long-term investment or equity in joint venture(s), partnership(s), and syndicate(s)
Items 2210 to 2214 - Long-term advances/loans/notes between the partners and the partnership (items for use by partnerships)
2210		Due from member(s)/general partner(s)
2211		Due from limited partners
2212		Due from members that are partnerships
2213		Due from general partners
2214		Due from specified members who are not limited partners
2220		Due from joint venture(s)/partnership(s) (item for use by corporations)
		long-term amounts due from joint venture(s)/partnership(s), or syndicate(s), such as advances, loans, and notes
Items 2240 to 2250 - Related parties can refer to affiliate, associated, and subsidiary corporations.
Note Long-term investment in a parent company should be reported under the appropriate item in this block. However, item 2182, "Due from corporate shareholder(s)," should be used for long-term amounts due from a parent company.
2240		Due from/investment in related parties
2241		Due from/investment in Canadian related parties
2242		Shares in Canadian related corporations
2243		Loans/advances to Canadian related corporations
2244		Investment in Canadian related corporations at cost
2245		Investment in Canadian related corporations at equity
2246		Due from/investment in foreign related parties
2247		Shares in foreign related corporations
2248		Loans/advances to foreign related corporations
2249		Investment in foreign related corporations at cost
2250		Investment in foreign related corporations at equity
2280		Investment in co-tenancy
		investment in co-ownerships
2300		Long-term investments
2301		Foreign shares
2302		Other types of foreign investments
		foreign investments in joint ventures, partnerships, bonds, and debentures
2303		Canadian shares
2304		Government of Canada debt
		Government of Canada long-term bonds and debentures
2305		Canadian, provincial, and municipal government debt
2306		Canadian corporate bonds and debentures
		long-term bond coupons and bond deposits
2307		Debt securities
2308		Equity securities
2309		Securities purchased under resale agreements
2310		Central credit union shares
2311		Other Canadian long-term investments
2360		Long-term loans
		advances and notes shown long-term
2361		Mortgages
2362		Personal and credit card loans
2363		Business and government loans
2364		Line of credit
2420		Other long-term assets
		investment tax credits, stock exchange seats, and utilities deposits
2421		Future (deferred) income taxes
		income taxes applicable to future years, and reserve for income taxes, shown long-term
2422		Deferred pension charges
2423		Deferred unrealized exchange losses
2424		Other deferred items/charges
		debt discount and expense, deferred development costs, deferred finance charges, deferred organization expense, lease inducements, tenant inducements, and cost on incomplete contracts
2425		Accumulated amortization of deferred charges
2426		Reserve fund
2427		Cash surrender value of life insurance
2589		Total long-term assets
		trust fund, trust assets, or funds held in escrow - Corporations such as collection agencies, funeral homes, insurance agencies, real estate agencies, travel agencies, and travel wholesalers would use this item. An amount reported under this item should have a balancing amount reported under item 3470, "Amounts held in trust," in the liabilities section.
2599		Total assets
		This item represents the total of all current, capital, long term assets, and assets held in trust and must be reported (see Validity check items).
Liabilities Current liabilities
2600		Bank overdraft
		bank indebtedness
2620		Amounts payable and accrued liabilities
		accrued liabilities, agreements payable, claims payable, rent payable, and utilities payable
2621		Trade payables
2622		Trade payablesto related parties
2623		Holdbacks payable
2624		Wages payable
2625		Management fees payable
2626		Bonuses payable
2627		Employee deductions payable
		payroll deductions for employee benefits such as Employment Insurance, Canada Pension Plan, Quebec Parental Insurance Plan, group insurance, and pension plans
2628		Withholding taxes payable
2629		Interest payable
		accrued interest payable
2630		Amounts payable to members of NPOs
		This item is for corporations that are non-profit organizations to report amounts payable to members.
2680		Taxes payable
		capital taxes, foreign taxes, GST/HST, current income taxes, logging taxes, sales taxes, and tax credits payable
2700		Short-term debt
		corporate loans, demand loans, loans from foreign banks, and notes payable shown short-term
2701		Loans from Canadian banks
2702		Liability for securities sold short
2703		Liability for securities sold under repurchase agreements
2704		Gold and silver certificates
2705		Cheques and other items in transit
2706		Lien notes
2707		Credit card loans
2770		Deferred income
		deferred capital or book gain, unearned income, unearned interest, unearned service charges, and unrealized foreign exchange gain shown current
Items 2780 to 2783 - Current amounts due to shareholder(s)/director(s), such as advances, loans, and notes
2780		Due to shareholder(s)/director(s)
2781		Due to individual shareholder(s)
2782		Due to corporate shareholder(s)
		due to parent company
2783		Due to director(s)
Items 2790 to 2794 - Current advances/loans/notes between the partnership and the partners (items for use by partnerships)
2790		Due to member(s)/general partner(s)
2791		Due to limited partners
2792		Due to members that are partnerships
2793		Due to general partners
2794		Due to specified members who are not limited partners
2840		Due to joint venture(s)/partnership(s) (item for use by corporations
		current amounts due to joint venture(s)/partnership(s), and syndicate(s) such as advances, loans, and notes
Items 2860 to 2863 - Related parties can refer to affiliate, associated, and subsidiary corporations.
2860		Due to related parties
2861		Demand notes due to related parties
2862		Interest payable to related parties++
2863		Advances due to related parties
2920		Current portion of long-term liability
2940		Bankers’ acceptances
		For financial institutions - Any amount reported under this item should be equal to the amount reported in Assets under item 1460, "Customers’ liability under acceptances."
2960		Other current liabilities
		progress payments shown current
2961		Deposits received
		bids, contract deposits, rental deposits, tenders, and security deposits
2962		Dividends payable
2963		Future (deferred) income taxes
		income taxes applicable to future years and reserve for income taxes shown current
2964		Reserves for guarantees, warranties, or indemnities
2965		General provisions/reserves
		contingent liabilities, provision for losses on loans, and pension reserves shown current
2966		Crew shares
3139		Total current liabilities
Long-term liabilities
3140		Long-term debt
3141		Mortgages
3142		Farm Credit Corporation loan
3143		Chartered bank loan
3144		Credit Union/Caisse Populaire loan
3145		Provincial or territorial government loan
3146		Supply company loan
3147		Private loan
3148		Central, league, and federation loans
3149		Line of credit
3150		Liability for securities sold short
3151		Liability for securities sold under repurchase agreements
3152		Lien notes
3200		Deposit liabilities of financial institutions
		This item applies to financial institutions and represents deposits made by customers.
3210		Bonds and debentures
3220		Deferred income
		deferred capital or book gain, unearned income, unearned interest, unearned service charges, and unrealized foreign exchange gain shown long-term
3240		Future (deferred) income taxes
		income taxes applicable to future years and reserve for income taxes shown long-term
Items 3260 to 3263 - Long-term amounts due to shareholder(s)/director(s), such as advances, loans, and notes
3260		Due to shareholder(s)/director(s)
3261		Due to individual shareholder(s)
3262		Due to corporate shareholder(s)
		due to parent company
3263		Due to director(s)
3270		Due to members
		advances, loans, and notes from members of co‑operatives or credit unions
3280		Due to joint venture(s)/partnership(s) (item for use by corporations)
		long-term amounts due to joint venture(s)/partnership(s), and syndicate(s) such as advances, loans, and notes
Items 3291 to 3295 - Long-term advances/loans/notes between the partnership and the partners (items for use by partnerships)
3291		Due to member(s)/general partner(s)
3292		Due to limited partners
3293		Due to members that are partnerships
3294		Due to general partners
3295		Due to specified members who are not limited partners
Items 3300 to 3302 - Related parties can refer to affiliate, associated, and subsidiary corporations.
3300		Due to related parties
3301		Amounts owing to related Canadian parties
3302		Amounts owing to related foreign parties
3320		Other long-term liabilities
		minority shareholder interest and other deferred credits shown long-term
3321		Long-term obligations/commitments/capital leases
3322		Reserves for guarantees, warranties, or indemnities
3323		Provision for site restoration
		dismantlement and abandonment costs, future removal, and site restoration costs
3324		Contributions to qualifying environmental trust
		environmental trust, mine reclamation, and reclamation of waste disposal sites
3325		General provisions/reserves
		contingent liabilities, provision for losses on loans, and pension reserves shown long-term
3326		Preference shares restated
		This item applies to preferred shares that have been restated as a liability and reported as a long - term liability.
3327		Member allocations (item for use by corporations)
		allocation to members of credit unions and co-operatives
3328		Deferred revenue from incomplete contracts
		intended for contractors using the completion method of reporting revenue to report deferred revenue from incomplete contracts
3450		Total long-term liabilities
3460		Subordinated debt
3470		Amounts held in trust
		trust fund, trust liabilities, or funds held in escrow – Corporations such as collection agencies, funeral homes, insurance agencies, real estate agencies, travel agencies, and travel wholesalers would use this item. An amount reported under this item should have a balancing amount reported in item 2590, "Assets held in trust," in the assets section.
3499		Total liabilities
		This item represents the total of all current and long‑term liabilities and must be reported (see Validity check items).
Equity
3500		Common shares
3520		Preferred shares
3540		Contributed and other surplus
3541		capital donations, capital grants, and paid-in surplus
3542		Appraisal surplus
		excess of appraisal value over cost, revaluation account, and revaluation surplus
3543		General reserve
		general reserves, inventory reserves, mortgage reserves, and security reserves
3570		Head office account
		home office account and head office investment
3580		Accumulated other comprehensive income
		This item is intended for use by corporations and partnerships using either the Pre-changeover accounting standards (Part V of the CICA Accounting Handbook) or International Financial Reporting Standards (IFRS) (Part I of the CICA Accounting Handbook) when preparing their financial statements. Report the accumulated balance of all components of other comprehensive income. This includes revenues, expenses, gains, and losses that are recognized in comprehensive income, but are not included in net income
3590		General partners’ capital (cost of partnership interest) (item for use by partnerships)
3591		Limited partners’ capital (cost of partnership interest) (item for use by partnerships)
3592		Contributions during the year (item for use by partnerships)
3600		Retained earnings/deficit
3620		Total shareholder equity
		This item represents the sum of all shareholder equity amounts and must be reported (see Validity check items).
3630		Total partners’ capital (item for use by partnerships)
		This item represents the sum of all partner capital amounts and must be reported (see Validity check items).
3640		Total liabilities and shareholder equity
3650		Total liabilities and partners’ capital (item for use by partnerships)
Retained Earnings Information
Retained earnings/deficit
3660		Retained earnings/deficit – Start
3680		Net income/loss
		Any amount reported under this item should be equal to the amount reported under item 9999, "Net income/loss after taxes and extraordinary items." Exception: If there is an amount reported under item 9998, item 3680 should be equal to item 9999 plus or minus item 9998.
3690		Capital contributed (item for use by partnerships)
3700		Dividends declared
		liquidating dividends, premium paid on redemption of shares, and stock dividends declared on shares
3701		Cash dividends
3702		Patronage dividends
3720		Prior period adjustments
3740		Other items affecting retained earnings
		dividends credited to investment account – If you choose to report dividends received in retained earnings rather than on the income statement, add the dividend back on Schedule 1, Net income (loss) for income tax purposes.
3741		Share redemptions
3742		Special reserves
3743		Currency adjustments
3744		Unusual revenue items
3745		Interfund transfer
		This item is intended for corporations that are non‑profit organizations to report fund amounts transferred to/from retained earning from/to the income statement.
3750		Drawings (item for use by partnerships)
3849		Retained earnings/deficit - End
		This item represents the sum of all retained earnings amounts and must be reported if you are reporting retained earnings (see "Validity check items"). An amount reported under this item should be the same amount reported under item 3600, "Retained earnings/deficit," in the shareholder equity section."
Income Statement Information
0001		Operating name
		Complete this section if the operating name is different from the corporation name (e.g., 111111 Ontario Ltd., operating as Maggie’s Muffins).
0002		Description of the operation
		Complete the description of the operation when reporting more than one income statement, and the activity is different from the major business activity. See Appendix B of this guide for more information on reporting multiple lines of business.
0003		Sequence Number
		For more than one income statement, use sequence numbers for each statement – number 01 for the income statement relating to the main activity, with supplementary income statements numbered consecutively from 02.
Other comprehensive income
Items 7000 to 7020 – These items are intended for use by corporations and partnerships using the International Financial Reporting Standards (IFRS). Other comprehensive income includes revenues, expenses, gains, and losses that are recognized in comprehensive income, but not included in net income. Line 9998, "Total other comprehensive income" is the sum of the following items:
7000		Revaluation surplus
		Change in carrying amount surplus as a result of revaluation of property, plant and equipment, and intangible assets.
7002		Defined benefit gains/losses
		Actuarial gains and losses on defined benefit plans recognized in the period in which they occur.
7004		Foreign operation translation gains/losses
		Gains and losses arising from translating the financial statements of a foreign operation.
7006		Equity instruments gains/losses
		Subsequent changes in the fair market value of an investment in an equity instrument that is not held for trading.
7008		Cash flow hedge effective portion gains/losses
		The effective portion of gains and losses on hedging instruments in a cash flow hedge.
7010		Income tax relating to components of other comprehensive income
		The tax relating to each component of other comprehensive income if reported before tax.
7020		Miscellaneous other comprehensive income
		Gains and losses relating to other comprehensive income not included in lines 7000 to 7008.
Revenue
8000		Trade sales of goods and services
		This item is for corporations who are not involved in the resource industry (items 8040 to 8053) or the fishing industry (items 8160 to 8166), but whose main source of income is the sale of a product or service. Amounts may be reported net of discounts allowed on sales, sales rebates, volume discounts, returns, and allowances.
8020		Sales of goods and services to related parties
		See the explanation for item 8000 above.
8030		Interdivisional sales
8040		Sales from resource properties
8041		Petroleum and natural gas sales
8042		Petroleum and natural gas sales to related parties
8043		Gas marketing
8044		Processing revenue
8045		Pipeline revenue
8046		Seismic sales
8047		Mining revenue
8048		Coal revenue
8049		Oil sands revenue
8050		Royalty income
8051		Oil and gas partnership/joint venture income/loss
8052		Mining partnership/joint venture income/loss
8053		Other production revenue
		well operating fees and sulphur revenue
8089		Total sales of goods and services
8090		Investment revenue
8091		Interest from foreign sources
		may be reported as gross of withholding taxes – withholding taxes would then be reported under item 9283, "Withholding taxes"
8092		Interest from Canadian bonds and debentures
8093		Interest from Canadian mortgage loans
8094		Interest from other Canadian sources
		finance income, guaranteed investment certificates interest, interest on overpaid taxes, and loan interest
8095		Dividend income
8096		Dividends from Canadian sources
8097		Dividends from foreign sources
		may be reported gross of withholding taxes – withholding taxes would then be reported under item 9283, "Withholding taxes."
8100		Interest income (financial institutions)
8101		Loan interest
8102		Securities interest
8103		Deposits with banks interest
8120		Commission revenue
		commissions earned on the sale of products or services by businesses such as advertising agencies, brokers, insurance agents, lottery ticket sales, sales representatives, and travel agencies – Some corporations may present sales and cost of sale on their income statement, with commission earned being the net amount. Report only the commission on the GIFI. Compensation could also be reported under this item (for example, compensation for collecting sales tax)
Example Lottery ticket sales   $40,000 Cost of lottery tickets   $25,000 Commission   $15,000       This would be reported as:     Item 8120 – Commission revenue   15000
8121		Commission income on real estate transactions
8140		Rental revenue
		revenue from the rental of boats, hotel or motel rooms, machinery or equipment, and storage lockers
8141		Real estate rental revenue
		amounts received as income from renting or leasing apartments, commercial buildings, land, office space, residential housing, and shopping centres – may also be used to report income from investments in co‑tenancies and co-ownerships
8142		Film rental revenue
8150		Vehicle leasing
		long-term vehicle leasing and short-term vehicle leasing
8160		Fishing revenue
8161		Fish products
8162		Other marine products
		amounts received from the sale of flippers, herring roe, herring scales, Irish moss, kelp, seal meat, and seaweed
8163		Fishing grants, credits, and rebates
8164		Fishing subsidies
8165		Compensation for loss of fishing income or property
		amounts received from The Atlantic Groundfish Strategy (TAGS) or insurance proceeds
8166		Sharesman income
Items 8210 to 8212 – Realized gains/losses on disposal of assets – These items represent the net amount of proceeds over net book value on the disposal or sale of an asset.
Note Losses on disposal/sale of assets shown as an expense should be reported under these items as a negative.
8210		Realized gains/losses on disposal of assets
		gain/loss or profit/loss on disposal/sale of capital assets
8211		Realized gains/losses on sale of investments
		profit/loss on disposal of investments or marketable securities
8212		Realized gains/losses on sale of resource properties
8220		NPO amounts received
8221		Membership fees
8222		Assessments
8223		Gifts
8224		Gross sales and revenues from organizational activities
Items 8230 to 8250 – Other revenue – This block of items is for secondary sources of income. Although there are items in this block that are often main sources of income, item 8000, "Trade sales of goods and services," should still be used to report the main income.
Example A corporation whose main source of revenue is consulting fees would choose item 8000, "Trade sales of goods and services," to report this income. However, if the corporation’s main source of income is from architectural design, but there is secondary income from consulting, the architectural income would be reported under item 8000 and the consulting income under item 8241, "Consulting fees."
8230		Other revenue
		gains on settlement of a debt and miscellaneous revenue
8231		Foreign exchange gains/losses
		amortization of deferred exchange gains and losses and realized gains and losses on foreign currency
8232		Income/loss of subsidiaries/affiliates
		for corporations that report investment in subsidiary corporations on the equity basis
8233		Income/loss of other divisions
8234		Income/loss of joint ventures
		for corporations that report investments in joint ventures on the equity basis
8235		Income/loss of partnerships
		for corporations that report investments in partnerships on the equity basis
Note A loss on foreign exchange, subsidiaries/affiliates, other divisions, joint ventures, or partnerships shown as an expense should be reported under the appropriate item (items 8231 to 8235) as a negative.
8236		Realization of deferred revenues
		realization of interest income, realization of instalment payments, and realization of service charges
8237		Royalty income other than resource
		royalty income or royalty fees from computer programs, copyrights, motion pictures, and patents
8238		Alberta royalty tax credits
8239		Management and administration fees
8240		Telecommunications revenue
8241		Consulting fees
8242		Subsidies and grants
		government assistance and subsidy payments (for non‑fishing corporations), federal, provincial, territorial, or municipal grants received by corporations that are non-profit organizations
8243		Sale of by-products
		secondary income earned by a garage selling discarded oil or tires to be used for other than the intended use, or a restaurant selling discarded food as pig feed
8244		Deposit services
8245		Credit services
8246		Card services
8247		Patronage dividends
8248		Insurance recoveries
		life insurance proceeds on the death of insured executives
8249		Expense recoveries
8250		Bad debt recoveries
8299		Total revenue
		This item represents the sum of all revenue amounts and must be reported if there is no farming revenue (see Validity check items).
Cost of sales
8300		Opening inventory
8301		Opening inventory - Finished goods
8302		Opening inventory - Raw materials
8303		Opening inventory - Goods in process
		opening inventory - work in progress
8320		Purchases/cost of materials
		cost of merchandise sold, fuel and purchased power, manufacturing supplies used, materials, and merchandise purchased - may be reported net of discounts earned on purchases
8320		Purchases/cost of materials
		cost of merchandise sold, fuel and purchased power, manufacturing supplies used, materials, and merchandise purchased - may be reported net of discounts earned on purchases
8340		Direct wages
		commissions, labour, production wages, and supervision when shown in cost of sales
8350		Benefits on direct wages
8360		Trades and sub-contracts
		contract labour, custom work, sub-contract labour, and outside labour
8370		Production costs other than resource
8400		Resource production costs
		gas processing, oil and gas operating expenses, oil and gas production, milling, smelting, and refining
8401		Pipeline operations
8402		Drilling
8403		Site restoration costs
		future removal costs
8404		Gross overriding royalty
8405		Freehold royalties
8406		Other producing properties rental
		freehold lease rentals and freehold delay rentals
8407		Prospect/geological
		digital processing, geochemical work, geophysical work, gravity meters, magnetic playbacks, seismographs, staking, and velocity surveys
8408		Well operating, fuel and equipment
8409		Well abandonment and dry holes
8410		Other lease rentals
8411		Exploration expenses
		aerial surveys
8412		Development expenses
		stripping costs
8435		Crown charges
8436		Crown royalties
8437		Crown lease rentals
8438		Freehold mineral tax
8439		Mining taxes
8440		Oil sand leases
8441		Saskatchewan resource surcharge
8450		Other direct costs
8451		Equipment hire and operation
8452		Log yard
		barker, bucking, clipper, log sorting, and sawing
8453		Forestry costs
		cutting, firefighting supplies, scaling, and silviculture
8454		Logging road costs
		road clearing, ploughing, and grating
8455		Stumpage costs
8456		Royalty costs
		royalties paid to holders of copyrights, movies, patents, performing rights, and trademarks, found in cost of sales
8457		Freight-in and duty
		customs and excise duty
8458		Inventory write-down
		revaluation of inventory and inventory adjustments
8459		Direct cost amortization of tangible assets
		amortization of leasehold improvements and amounts referred to as depreciation shown in cost of sales
8460		Direct cost amortization of natural resource assets
		amounts referred to as depletion shown in cost of sales
8461		Overhead expenses allocated to cost of sales
		amounts reported under cost of sales that are normally considered operating expenses
8500		Closing inventory
8501		Closing inventory - Finished goods
8502		Closing inventory - Raw materials
8503		Closing inventory - Goods in process
		closing inventory - work in progress
8518		Cost of sales
		This item represents the sum of all cost of sales amounts.
8519		Gross profit/loss
		This item represents the net amount of item 8089, "Total sales of goods and services," less item 8518, "Cost of sales" – May also be referred to as gross margin.
Operating expenses
8520		Advertising and promotion
8521		Advertising
		catalogues, media expenses, and publications
8522		Donations
		charitable donations, donations to the Crown, and political donations
8523		Meals and entertainment
		tickets (theatre, concert, athletic event, etc.)
8524		Promotion
		booths, demonstrations/presentations, displays, prospectus, samples, and seminars (given)
8570		Amortization of intangible assets
		amortization of intangible assets such as deferred charges, goodwill (before 2002), patents, franchises, copyrights, trademarks, organization costs, and research and development costs
8571		Goodwill impairment loss
		applies to 2002 and later tax years
8590		Bad debt expense
		allowance for bad debts, allowance/provision for doubtful accounts, bad debt, bad debt written-off, provision for bad debts, and reserve for bad debt
8610		Loan losses
		for loans, mortgages, and other loan-type amounts written off
8611		Provision for loan losses
		provision/allowance for loan, mortgage, or credit losses
8620		Employee benefits
		association dues, clothing allowance, lodging, payroll deductions/levies/taxes, and room and board
8621		Group insurance benefits
		medical, dental, and life insurance plans
8622		Employer’s portion of employee benefits
		Canada Pension Plan, company pension plan, Employment Insurance, Quebec Parental Insurance Plan, and Workers’ Compensation
8623		Contributions to deferred income plans
		contributions to a registered pension plan, a deferred profit sharing plan, an employee profit sharing plan, and a registered supplementary unemployment benefit plan
8650		Amortization of natural resource assets
		amounts referred to as depletion
8670		Amortization of tangible assets
		amortization of leasehold improvements and amounts referred to as depreciation
8690		Insurance
		bonding, fire insurance, liability insurance, premium expenses, property insurance, and vehicle insurance
8691		Life insurance on executives
		insurance policies where the beneficiary is the corporation rather than the estate of the executive
8710		Interest and bank charges
		finance charges, bank charges, and interest payments on capital leases
8711		Interest on short-term debt
8712		Interest on bonds and debentures
		amortization of bond discounts
8713		Interest on mortgages
		amortization of mortgage discount or expense
8714		Interest on long-term debt
8715		Bank charges
8716		Credit card charges
		interest on credit cards
8717		Collection and credit costs
8740		Interest paid (financial institutions)
8741		Interest paid on deposits
8742		Interest paid on bonds and debentures
8760		Business taxes, licences, and memberships
		beverage licences, business charges, motor vehicle licences and/or registration permits, and trade licences
8761		Memberships
		dues and subscriptions
8762		Business taxes
		business tax, provincial capital tax (excluding Nova Scotia tax on large corporations), bridge tolls, gross receipt tax, health and education tax, hospital tax, permits, road tolls, and taxes on leases
8763		Franchise fees
8764		Government fees
8790		Nova Scotia tax on large corporations
8810		Office expenses
8811		Office stationery and supplies
8812		Office utilities
		utility expenses related to an office such as electricity, gas, heating, hydro, and telephone
8813		Data processing
		word processing
8860		Professional fees
		engineering fees, professional services, and surveyor fees
8861		Legal fees
		lawyer and notary fees
8863		Consulting fees
8864		Architect fees
		architectural design and illustration fees and landscape architect fees
8865		Appraisal fees
		real estate and jewellery appraisal, and financial valuation services
8866		Laboratory fees
8867		Medical fees
8868		Veterinary fees
		breeding fees
8869		Brokerage fees
8870		Transfer fees
		land and property transfer fees
8871		Management and administration fees
8872		Refining and assay
8873		Registrar and transfer agent fees
8874		Restructuring costs
		reorganization costs
8875		Security commission fees
8876		Training expense
		animal training, management training, and staff development
8910		Rental
		rental expenses for arena, boat/vessel/ship, coal and lumberyards, railway sidings, safety deposit box/vaults, and parking charges
8911		Real estate rental
		apartment, building, land, and office rentals
8912		Occupancy costs
8913		Condominium fees
8914		Equipment rental
		rental expenses for computer equipment, film, office machines, and road and construction equipment
8915		Motor vehicle rentals
8916		Moorage (boat)
		dock and wharf space
8917		Storage
		rental expense for garages and warehouses
8918		Quota rental
		forestry and logging quota rental expenses
8960		Repairs and maintenance
		aircraft repairs and maintenance
8961		Repairs and maintenance - Buildings
		premises upkeep
8962		Repairs and maintenance – Vehicles
8963		Repairs and maintenance – Boats
8964		Repairs and maintenance – Machinery and equipment
		gas and power line repairs and maintenance
9010		Other repairs and maintenance
		janitorial services, landscaping, and yard maintenance
9011		Machine shop expense
9012		Road costs
		snow removal costs
9013		Security
		alarm system and surveillance equipment repairs and maintenance
9014		Garbage removal
9060		Salaries and wages
		amounts not found in cost of sales such as administrative salaries, casual labour, cost of living allowance, down time, fees to employees, minimum wage levies, payroll remuneration, severance pay, supervision, and vacation pay
9061		Commissions
9062		Crew share
9063		Bonuses
		incentive compensation
9064		Directors fees
9065		Management salaries
		officers’ salaries
9066		Employee salaries
		office salaries
9110		Sub-contracts
		contract labour, contract work, custom work, and hired labour
9130		Supplies
		medical supplies, veterinary drugs and supplies, wrapping and packing supplies
9131		Small tools
9132		Shop expense
9133		Uniforms
9134		Laundry
		dry-cleaning
9135		Food and catering
9136		Fishing gear
9137		Nets and traps
9138		Salt, bait, and ice
9139		Camp supplies
9150		Computer-related expenses
9151		Upgrade
		updates to computer software
9152		Internet
9180		Property taxes
		municipal and realty taxes
9200		Travel expenses
		airfare, hotel rooms, travel allowance, travel, and accommodations
9201		Meetings and conventions
		seminars attended
9220		Utilities
9221		Electricity
		hydro
9222		Water
9223		Heat
9224		Fuel costs
		coal, diesel, fuel, natural gas, oil, and propane for heating and cooking
9225		Telephone and telecommunications
		cellular telephone, fax machine, and pager
9270		Other expenses
9271		Cash over/short
9272		Reimbursement of parent company expense
		portion of expenses owing to parent
9273		Selling expenses
9274		Shipping and warehouse expense
9275		Delivery, freight and express
		courier, customs, delivery and installation, distribution, ferry charges, freight and cartage, freight and duty, shipping and transportation
9276		Warranty expenses
		guarantee costs
9277		Royalty expenses – Resident
		amounts reported as non-resource royalties paid to Canadian residents such as copyrights, movies, patents, performing rights, and trademarks
9278		Royalty expenses – Non-resident
		amounts reported as non-resource royalties paid to non‑residents such as copyrights, movies, patents, performing rights, and trademarks
9279		Dumping charges
9280		Land fill fees
9281		Vehicle expenses
		automobile expenses, gas, motor vehicle fuel, tires, and vehicle washing
9282		Research and development
9283		Withholding taxes
9284		General and administrative expenses
		marketing and administration, office and general expenses, selling and administrative expenses
9285		Interdivisional expenses
9286		Interfund transfer
		This item is for corporations including non-profit organizations to report fund amounts transferred to or from the income statement, from or to retained earnings.
9367		Total operating expenses
		This item represents the sum of all operating expense amounts.
9368		Total expenses
		This item must be reported if there are no farming expenses (see Validity check items). Any amount reported under this item should be equal to the amount reported under item 8518, "Cost of sales," plus the amount reported under item 9367, "Total operating expenses."
9369		Net non-farming income
		The amount reported should be equal to the amount reported under item 8299, "Total revenue," minus the amount reported under item 9368, "Total expenses.
Farming Income Statement Information Cash vs. Accrual
As a farming corporation, you may choose to report your income using the cash method rather than the accrual method. If you are involved in more than one business activity, only your farming business can use the cash method.
0001		Operating name
		Complete this section if your operating name is different from the corporation name (e.g., 111111 Ontario Ltd., operating as Maggie’s Muffins).
0002		Description of the operation
		You must complete the description of the operation when you are reporting more than one income statement, and the activity is different than the major business activity. For more information, see reporting multiple lines of business.
0003		For more than one income statement, use sequence numbers for each statement – number 01 for the income statement relating to the main activity with supplementary income statements numbered consecutively from 02.
Farming revenue
9370		Grains and oilseeds
		mustard seed, rye, and sunflower seeds
9371		Wheat
		durum
9372		Oats
9373		Barley
9374		Mixed grains
9375		Corn
9376		Canola
9377		Flaxseed
9378		Soya beans
9379		Wheat Board payments
9420		Other crop revenues
		herbs, hops, and sugar beets
9421		Fruit
9422		Potatoes
9423		Vegetables
9424		Tobacco
9425		Greenhouse and nursery products
		greenhouse or nursery products such as flowers, greenhouse vegetables, horticultural products, ornamental plants, rooted cuttings, seeds and bulbs, shrubs, sod and turf, and trees
9470		Livestock and animal products revenue
		revenue received from animal pelts, apiary operation, bison, chinchilla, deer, dog, elk, fox, goats, honey products, mink, market livestock income, rabbit, and wool
9471		Cattle
		revenue received from the sale of bulls, calves, and cows
9472		Swine
		revenue received from the sale of hogs and pigs
9473		Poultry
		revenue received from the sale of chicken, ducks, geese, and turkeys
9474		Sheep and lambs
9475		Pregnant mare urine (PMU)
9476		Milk and cream (excluding dairy subsidies)
9477		Eggs for consumption
9478		Hatching eggs
9479		Aquaculture (hatching and raising)
9480		Horses (breeding and meat)
		revenue received from the sale of ponies, and other equine animals
9520		Other commodities
		revenue received from ginseng, mushrooms, ostriches, and stud services
9521		Maple products
9522		Artificial insemination
9523		Semen production
9524		Embryo production
		revenue received from embryo transplants
9540		Program payment revenues
		Animal Contagious Diseases Act payments, farm subsidy, farm-support payments, grants, and stabilization subsidy
9541		Dairy subsidies
9542		Crop insurance
		insurance proceeds from federal or provincial programs for loss of crops
9544		Disaster Assistance Program payments
9545		AgriStability and AgriInvest benefit
9546		Production insurance premium benefit
9570		Rebates
9571		Rebates – Fuel
9572		Rebates – Interest
9573		Rebates – Property taxes
9600		Other farm revenues/losses
		sale of land, soil or stone, payment in kind, personal consumption benefit, and quality bonus
9601		Custom or contract work
		seed cleaning/drying/packing/treating, crop dusting or spraying, custom combining/harvesting, custom seeding, custom spraying, and custom trucking/hauling
9602		Wood sales
		amounts reported as income from a farmer’s woodlot such as Christmas trees, firewood, logs, lumber, and poles
9603		Horse racing
9604		Insurance proceeds
		insurance proceeds for the loss of a building to fire or the loss of livestock to disease
9605		Patronage dividends
		certificate of indebtedness
9606		Rental income
		building, land, machine, and pasture rental
9607		Interest income
9608		Dividend income
9609		Gains/losses on disposal of assets
		book gains/losses, gain/loss on disposal of fixed assets, profit/loss on disposal of fixed assets, profit/loss on sale of investments, and recaptured depreciation
		Note Losses on disposal/sale of assets shown as a farm expense should be reported under this item as a negative.
9610		Gravel
9611		Trucking
9612		Resale of commodities purchased
9613		Leases (gas, oil, well, surface, etc.)
9614		Machine rentals
9615		Farming partnership income/loss
9616		Farming joint venture income/loss
9617		Custom feeding
9650		Non-farming income
		If you are not using items 8000 to 8299, use this item to report any non-farming income of a farming corporation.
9659		Total farm revenue This item represents the sum of all farm revenue amounts plus any amount under item 9650 and must be reported if there are no amounts under any of items 8000 to 8299 (see Validity check items)
Farming expenses Cost of Sales – The farming income and expense section of the GIFI does not include an item for cost of sales. If a farming corporation has cost of sales with no breakdown, this should be reported under the most appropriate farm expense item. Example A cost of sales that consists mainly of hog purchases would be reported under item 9712, "Livestock purchases."
9660		Crop expenses
		water purchases or water rights for irrigation, seed cleaning, and crop supplies
9661		Containers, twine, and baling wire
9662		Fertilizers and lime
		chemicals
9663		Pesticides
		fungicides, herbicides, and insecticides
9664		Seeds and plants
9710		Livestock expenses
		Dairy Herd Improvement Association animal grading, dairy, or livestock supplies
9711		Feed, supplements, straw, and bedding
		purchased dairy rations and forage
9712		Livestock purchases
9713		Veterinary fees, medicine, and breeding fees
		artificial insemination, disease testing, embryo transplants, neutering, semen, spaying, and stud service
9714		Minerals and salts
9760		Machinery expenses
9761		Machinery insurance
9762		Machinery licences
9763		Machinery repairs
9764		Machinery fuel
		lubricants
9765		Machinery lease
9790		General farm expenses
		milk testing, negative farm support payments, and silage preservation
9791		Amortization of tangible assets
		amortization of leasehold improvements and amounts referred to as depreciation
9792		Advertising, marketing costs, and promotion
9793		Bad debt
		allowance for bad debts, allowance/provision for doubtful accounts, bad debt, bad debt written-off, provision for bad debts, and reserve for bad debt
9794		Benefits related to employee salaries
		contributions to deferred income plans (DPSP/EPSP/RPP), employer’s portion of employee benefits (CPP/EI/QPIP/WCB), group insurance benefits (dental/life/medical plans), payroll deductions, and lodging/room and board
9795		Building repairs and maintenance
9796		Clearing, levelling, and draining land
		expenses from building a road, digging/drilling a water well, installing land drainage, ploughing land, and bringing public utilities to the farm
9797		Crop insurance, Revenue Protection Program, and stabilization premiums
9798		Custom or contract work
		egg cleaning/grading/sorting/spraying, cheese aging, and contract harvesting/combining/crop dusting
9799		Electricity
9800		Fence repairs and maintenance
9801		Freight and trucking
		delivery and distribution costs and shipping
9802		Heating fuel and curing fuel
		coal, oil, natural gas, and fuel for curing tobacco/crop drying/greenhouses
9803		Insurance program overpayment recapture
9804		Other insurance premiums
		farm insurance, private crop insurance, livestock insurance, and business interruption insurance premiums
9805		Interest and bank charges
		finance charges, interest on a farm loan, interest on long-term debt, and interest on a mortgage
9806		Marketing board fees
9807		Memberships/subscription fees
		association fees
9808		Office expenses
		farm-related office expenses such as accounting/receipt books, invoices, and stationery
9809		Professional fees
		amounts reported as farm-related expenses such as accounting/bookkeeping fees, data processing costs, and legal fees
9810		Property taxes
		land, municipal, and realty taxes
9811		Rent – Land and buildings
9812		Rent – Machinery
9813		Other rental expenses
9814		Salaries and wages
9815		Salaries and wages other than for spouse or dependants
		salaries for farmhand and self
9816		Salaries and wages paid to dependants
9817		Selling costs
9818		Supplies
9819		Motor vehicle expenses
		automobile expenses, gas, motor vehicle fuel, propane, tires, vehicle repairs and maintenance, and vehicle washing
9820		Small tools
9821		Soil testing
9822		Storage/drying
9823		Licences/permits
9824		Telephone
9825		Quota rental (tobacco, dairy)
9826		Gravel
9827		Purchases of commodities resold
9828		Salaries and wages paid to spouse
9829		Motor vehicle interest and leasing costs
9830		Prepared feed
9831		Custom feed
9832		Amortization of intangible assets
9833		Amortization of milk quota
9834		Travel expenses
9835		Capital/business taxes
9836		Commissions and levies
9850		Non-farming expenses
		If you are not using items 8300 to 9368, use this item to report any non-farming expenses of a farming corporation.
9870		Net inventory adjustment
		This item may be used to report the farm’s opening inventory less its closing inventory.
		Note If the closing inventory is greater than the opening inventory, this item should be reported as a negative.
9898		Total farm expenses
		This item represents the sum of all farm expense amounts including any amount under item 9850 and must be reported if there are no amounts under any of items 8300 to 9368 (see Validity check items)
9899		Net farm income
		The amount reported should be equal to the amount reported under item 9659, "Total farm revenue," minus the amount reported under item 9898, "Total farm expenses."
9970		Net income/loss before taxes and extraordinary items
		This item represents the sum of item 9369, "Net non‑farming income," and item 9899, "Net farm income."
Extraordinary items and income taxes
9975		Extraordinary item(s)
		This item includes gains/losses resulting from events that:
		are not expected to occur regularly over a period of years;
		do not depend primarily on decisions or determinations by management Examples include the expropriation of a corporation’s land and buildings for a highway, the destruction of a large portion of a wheat crop by a tornado, and an explosion in a nuclear reactor resulting in high-level radioactive emission.
9976		Legal settlements
		settlement of royalties
9980		Unrealized gains/losses
		unrealized gains/losses resulting from the adjustment of book values on the revaluation of assets
9985		Unusual items
		asset valuation adjustments such as write-downs and write-offs to net realizable values, items to be scrapped, and gains/losses from discontinued operations or wind‑up of subsidiaries/affiliates – This item represents unusual and non-recurring items that do not meet the criteria set out for extraordinary gains/losses.
9990		Current income taxes
		Canadian income taxes, federal income/large corporation tax, previous year adjustment to federal income/large corporation tax, and provincial and territorial income taxes
9995		Future (deferred) income tax provision
		Canadian income taxes deferred, provision for deferred income taxes, and provision for future income taxes
9998		Total‑other comprehensive income
		This item is intended for use by corporations and partnerships using either the Pre-changeover accounting standards (Part V of the CICA Accounting Handbook) or the International Financial Reporting Standards (IFRS) (Part I of the CICA Accounting Handbook) when preparing their financial statements. It represents the sum of:
		Item 7000 – Revaluation surplus
		Item 7002 – Defined benefit gains/losses
		Item 7004 – Foreign operation translation gains/losses
		Item 7006 – Equity instruments gains/losses
		Item 7008 – Cash flow hedge effective portion gains/losses
		Item 7010 – Income tax relating to components of other comprehensive income
		Item 7020 – Miscellaneous other comprehensive income
9999		Net income/loss after taxes and extraordinary items
		This item represents the net amount of:
		Item 9970 – Net income/loss before taxes and extraordinary items
		Item 9975 – Extraordinary item(s)
		Item 9976 – Legal settlements
		Item 9980 – Unrealized gains/losses
		Item 9985 – Unusual items
		Item 9990 – Current income taxes
		Item 9995 – Future (deferred) income tax provision
		Item 9998 – Total‑other comprehensive income (see "Validity check items" ).
		Item 9999 must be reported (see Validity check items)

Appendix B - Reporting multiple lines of business

Some corporations and partnerships, such as those involved in a business that receives income from different sources, choose to file a supplementary income statement for each operation. You can use the GIFI to report the information from the supplementary statements.

You may receive rental income from several properties and may choose to complete a supplementary income statement for each of the properties; or, as a manufacturer, you may also have a retail outlet and choose to submit a supplementary income statement for the retail activity.

Another situation in which you may choose to submit a supplementary income statement is to report amounts broken down in the notes, such as rental loss.

Completing the main and supplementary income statements

• You have to provide an operating name for each statement, except the summary statement (see the last bullet of this section), unless it is the same as the corporation’s or partnership’s legal name.
• You have to provide a description of the operation if it is different from the main activity.
• Each statement needs a sequence number. The income statement relating to the main activity must have sequence number 01. The supplementary income statements would be numbered consecutively from 02.
• A GIFI item can be reported on more than one statement. See Using the same GIFI item on different statements.
• Each statement should report items up to item 9970, "Net income/loss" before taxes and extraordinary items." Do not report any extraordinary items or income taxes, or net income/loss after taxes and extraordinary items (items 9975 to 9999) on the main or supplementary income statements.
  
  Note
  The main income statement (Sequence 01) should not include the net amounts for the information that you have included on the supplementary statements. As a result, some total lines and perhaps gross profit will be different from what is shown on the financial statements.
  
  
• You have to provide a summary statement that reports the following: the sum of all amounts under item 9970 on each income statement; any amounts reported under items 9975 to 9998 (representing the extraordinary items and income taxes); and the amount under item 9999 (representing net income/loss after taxes and extraordinary items).
  

Using the same GIFI item on different statements

You can report the same GIFI items, which appear for the main activity, on your supplementary income statements. However, any amount you report on a supplementary income statement should not be included in the amount you report on the main income statement for the same item.

Example
A corporation that prepares multiple income statements may choose to report item 8622, "Employer’s portion of employee benefits," on each of its statements. The example following this section shows an amount for item 8622 on each of the statements. Note that the amount reported under item 8622 on Sequence 01 (main activity), does not include the amounts reported under tem 8622 on the supplementary income statements.

Example - Multiple lines of business

The following example represents the statements of a corporation whose main activity is manufacturing but is also involved in retail and equipment rental.

Part 1 shows the corporation’s main income statement, which includes the net amounts for each of the supplementary income statements.

Part 2 shows how to report this type of information using the GIFI and how to balance your financial information. Note that the CRA would only receive the name, description of operations, and sequence number with the GIFI code and amount.

Appendix C - Non-profit organizations

This appendix is intended to help corporations that are non-profit organizations (NPOs) use the GIFI to report their financial statement information.

Table A shows some NPO terminology and the equivalent GIFI terminology. Table B provides specific NPO terms and the suggested equivalent GIFI item.

Table A
NPO terminology	Equivalent GIFI terminology
Members’ equity	Shareholder equity
Owners’ equity
Fund balances
Net assets
Reserves
Balance at end of year – General Surplus	Retained earnings/deficit
Operating fund
General fund
Statement of revenue and expenditures	Income statement
Statement of income and surplus
Statement of receipts and disbursements
Statement of operations
Excess of revenues over expenses (expenses over revenues)	Net non-farming income

 

Table B
Assets and liabilities		Equivalent GIFI item
Cash	1001	Cash
Amounts receivable from other than members	1060	Accounts receivable
Amounts receivable from members	1073	Amounts receivable from members of NPOs
Inventory	1120	Inventories
Short-term investments	1180	Short-term investments
Prepaid expenses	1484	Prepaid expenses
Fixed assets	2008	Total tangible capital assets
Long-term investments	2300	Long-term investments
Total assets	2599	Total assets
Amounts owing to other than members	2620	Amounts payable and accrued liabilities
Amounts owing to members	2630	Amounts payable to members of NPOs
Total liabilities	3499	Total liabilities
Amounts received
Interest received	8090	Investment revenue
Dividends received	8095	Dividend income
Rentals received	8140	Rental revenue
Proceeds of disposition of capital property	8210	Realized gains/losses on disposal of assets
Membership dues or fees	8221	Membership fees
Assessments received	8222	Assessments
Gifts	8223	Gifts
Gross sales and revenues from organizational activities	8224	Gross sales and revenues from organizational activities
Royalties received	8237	Royalty income other than resource
Federal, provincial, or municipal grants received	8242	Subsidies and grants
Total receipts	8299	Total revenue
Transfer(s) to/from fund(s)
Shown in retained earnings	3745	Interfund transfer
Shown on income statement	9286	Interfund transfer

 

For more information

What if you need help?

If you need help after reading this publication, Home page or call 1-800-959-5525.

For information about filing your T2 Corporation Income Tax Return, see Guide T4012, T2 Corporation - Income Tax Guide. For corporation internet filing, go to Corporation Internet Filing.

For information about filing your T5013 Partnership Information Return, see Guide T4068, Guide for the T5013 Partnership Information Return.

Forms and publications

To get our forms or publications, go to our Forms and publications page or by calling us at 1-800-959-2221.

Electronic mailing lists

We can notify you immediately about new information like new or revised income tax technical publications, electronic filing, SR&ED tax incentives, and more. To subscribe free of charge, go to Electronic mailing lists.

Online services built for businesses

Going online makes good business sense. Take control of your business’s tax accounts, and instantly access and make changes to tax information online. With CRA’s online services for businesses, you can:

• authorize a representative for online access to your business accounts
• transmit a return without a Web access code
• view notices and statements
• view your up-to-date account balances and transactions
• transfer payments within a program account and between program accounts of the same nine-digit business number and immediately view updated balances
• register a formal dispute
• make online requests (for example, request additional remittance vouchers)

Register now. To access our online services, go to:

• My Business Account if you are a business owner
• Represent a Client if you are a representative (including employees)

For technical help while using our online services, call:

• 1-877-322-7849 for business accounts
• 1-888-768-0951 for teletypewriter users
• 709-772-8371, collect, for calls outside of Canada and the United States.

Teletypewriter (TTY) users

TTY users can call 1-800-665-0354 for bilingual assistance during regular business hours.

Our service complaint process

If you are not satisfied with the service that you have received, please contact the CRA employee you have been dealing with or call the telephone number that you have been given. If you are not pleased with the way your concerns are addressed, you can ask to discuss the matter with the employee’s supervisor.

If the matter is still not resolved, you have the right to file a service complaint by completing Form RC193, Service Related Complaint. If you are still not satisfied, you can file a complaint with the Office of the Taxpayers’ Ombudsman.

For more information, go to our Service Complaints page or see Booklet RC4420, Information on CRA - Service Complaints.

Non-resident corporation enquiries

If you have a question about a non-resident corporation account, go to Businesses - International and non-resident taxes or call the International Tax Services Office at one of the following numbers:

Canada and the United States
1-855-284-5944

Outside Canada and the United States
(we accept collect calls)
613-954-9681

Fax number
613-952-3845

Your opinion counts

If you have any comments or suggestions that could help us improve our publications, we would like to hear from you. Please send your comments to:

Taxpayer Services Directorate
Canada Revenue Agency
750 Heron Road
Ottawa ON  K1A 0L5