Corporate Maintenance

Notice of Change

Every year we must filing a notice of change of the provincial government.

Non-profit corporations subject to the Ontario Corporations Act that are NOT Registered Charities under the federal ITA are required to file a Schedule 546, Corporations Information Act Annual Return for Ontario Corporations, together with their T2 return.

Ontario non-profit corporations will file their CIA AR to the Canada Revenue Agency together with their tax or charity return within six months after the end of their tax year. Previously, the CIA AR was filed within 60 days of the anniversary of incorporation or amalgamation.

Non-profit corporations will continue to have the option of filing a stand-alone CIA AR electronically with the Service Providers under contract with the Ontario government.

Non-profit corporations that are charities registered under the federal Income Tax Act will receive a 'turnaround' Corporations Information Act worksheet from the Canada Revenue Agency that must be filed together with their T3010 Registered Charity Information Return with the Canada Revenue Agency. Other non-profit corporations will no longer receive a 'turnaround' document.

The CIA AR must be filed with the Canada Revenue Agency together with your T2 Corporation Income Tax Return or your T3010 Registered Charity Information Return. The Canada Revenue Agency will not accept a stand-alone

Corporations Information Act Annual Return.

Can we use the short form? We did have a net income. http://www.cra-arc.gc.ca/E/pub/tg/t4012/t4012-02-e.html#P401_27247

T2 Short Return

The T2 Short Return is two pages plus a Schedule 1, Net Income (Loss) for Income Tax Purposes, a Schedule 8, Capital Cost Allowance (CCA), and a Schedule 50, Shareholder Information. It is a simpler version of the T2 Corporation Income Tax Return. Two categories of corporations are eligible to use this return:

  1. You can use this return if the corporation meets all of the following conditions:

    • it is a Canadian-controlled private corporation (CCPC) throughout the tax year;
    • this year, it has either a nil net income or a loss for income tax purposes;
    • it has a permanent establishment in only one province or territory;
    • it is not claiming any refundable tax credits (other than a refund of instalments it paid);
    • it did not receive or pay out any taxable dividends;
    • it is reporting in Canadian currency; and
    • it does not have an Ontario transitional tax debit.
  2. You can also use this return if the corporation is a tax-exempt corporation (such as a non-profit organization) that has a permanent establishment in only one province or territory. If the corporation does not fit into either of the above categories, you have to file a regular T2 return. Yes, T2. But you must attach:

    • Schedule 100, Balance Sheet Information, showing the financial position of the corporation at the end of the tax year;
    • Schedule 125, Income Statement Information, showing the corporation's income and expenses for the year (if the corporation did not earn any income or incur any expenses, simply state "no income" or "no expenses"); and
    • Schedule 141, Notes Checklist, for any notes to the financial statement information and to indicate the involvement of an accountant.

Here are two emails I sent to Lindsay:

We need to file out the T2 income tax form because we are a non-profit but we are not a charity.

http://www.cra-arc.gc.ca/E/pbg/tf/t2/README.html

Can you look at this and let me know if we can complete this?eah. Registered non-profit corporation. :( That's why I had to file our board earlier in the year. Lindsay, can you look through the 'attachment' section on page 2-3 and make sure the answer to all those questions is 'no'?

I think I can fill out Page one and send you the PDF with those answers filled in. And I think the technical answer to charitable donations is no, we made none. I think that the rest is money stuff, and I think the answer to most of them is 0, no or nothing. In theory it should be easy to fill out. We've never had to fill out one before, I don't think.

Call me at work if you have any questions: 705-424-1200 x3161. Let me know if you have a chance to start it this week. If you have a chance to look it over. Actually, please call me Friday regardless if you can, please, after I've had a chance to look it over (I only just found it).

Part 5 of http://www.attorneygeneral.jus.gov.on.ca/english/family/pgt/nfpinc/Corporate_Maintenance_Filing_Requirements.pdf says we should do it because we are a non-profit but not a charity.

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