When filing a T2 Short Return, also known as the Canadian corporate income tax return, there are certain documents you may need to attach to ensure accurate reporting. Here are some important documents to consider:
1. Financial Statements: Attach your company's financial statements, including the income statement, balance sheet, and cash flow statement. These statements provide an overview of your business's financial performance for the tax year.
2. Schedule 100 - Balance Sheet Information: This form summarizes the assets, liabilities, and equity of your corporation. Ensure it is accurately completed and attached to the return.
3. Schedule 125 - Income Statement Information: This schedule outlines your corporation's revenue, expenses, and net income or loss. Include it with your return to provide a breakdown of your financial performance.
4. Schedules related to specific deductions or credits: Depending on your situation, various schedules may be necessary. Some common ones include Schedule 1 - Net Income (Loss) for Income Tax Purposes, Schedule 5 - Tax Calculation Supplementary - Corporations, and Schedule 50 - Shareholders Information.
5. Supporting Documentation: Include any relevant supporting documents required to substantiate the amounts reported on your tax return. This includes receipts, invoices, financial records, worksheets, and any other documents that support your income, expenses, deductions, or credits claimed.
6. Capital Cost Allowance (CCA) Schedules: If you are claiming CCA on depreciable assets, attach the appropriate CCA schedules corresponding to specific asset classes. These schedules detail the calculation and claim of depreciation expenses.
7. T2SCH50 - Ownership Structure: This schedule is essential if your corporation is part of an associated group. It provides information about the ownership structure and association among corporations.
8. Foreign Reporting Requirements: If your corporation has foreign investments or activities exceeding certain thresholds, additional schedules such as T1134 - Information Return Relating to Controlled and Not-Controlled Foreign Affiliates may be required.
Remember, the specific documents required may vary based on your corporation's activities, deductions, and transactions during the year. It's essential to review the CRA's guidelines or seek professional tax advice to ensure you attach all the necessary documents for your T2 Short Return.