File the T2
The return every society files each year, exemption or not, its filing recorded from the books.
In the books, the Wizard walks this task beside you and ticks each step from the books as it lands.
Answer the T1044 questions for the year
A second return can ride on the year: the T1044, the non-profit information return. Three triggers can make it due. Two are figures the books work out on their own: the year’s investment income against its line, and total assets at the end of the year before against theirs.
The third is not a figure. It is whether the return was required in an earlier year. That stands as the society records it, among the organization facts in Settings.
When all three stand answered, the Tax page states the standing plainly: the return is due for the year, or it is not. Once required, it stays required.
(Done on the Tax page.)
Read the T2 the app has prepared
A T2 is owed every year, exemption or not. Being tax-exempt under the non-profit line changes what the return decides, never whether it is filed. The return is the year’s statements, sorted by their tax codes. Each account in the chart carries the GIFI code it reports under.
The Tax page names any account that holds money and has no code yet. Set those before the return is filed. Read the figures there and in the statements. The accountant’s pack carries the figures out of the app. The pack is what the return is filed from.
(Done on the Tax page.)
Send the return to the tax office
Filing happens at the tax office, not in this app — and the T2 has a rule of its own. The return file must be made by tax software CRA has certified. No other program’s file is taken.
The society can run that software itself and send the file through Corporation Internet Filing, or with the transmit button in My Business Account. Sending costs nothing. Or the accountant files it from the pack.
Most corporations must file electronically now. A paper return from one the rule covers draws a $1,000 penalty. A society exempt under the non-profit line stands in the exception to that rule: it may still file the paper T2 Short. The return is due within six months of the year end.
Keep the confirmation the tax office gives — the next step records it.
(Done on the by hand page.)
Record the filing in the books
Record the filing in the society’s governance records: a record of kind Filing, naming the return and the year it covers, with the day and the confirmation the tax office gave, in the confirmation field.
A filing that stands in an inbox is a filing the next treasurer cannot prove. Recorded here, it stands beside the resolutions and the meeting records, where anyone entitled can read it. On the Tax page it stands among the year’s filings.
(Done on the Governance page.)