What information do I need to get started?
What information do I need to get started?
This list is a starting point, your specific situation may differ.
Business bank and credit card statements.
- Many banks and credit companies provide this information online and can go back as far as seven years
- Copies of cheques (often these are on your bank statements)
- Listing of e-transfers sent and received
Documents that support your business transactions
- Invoices that you have sent out to clients
- Documentation for purchases you have made. Receipts, bills from vendors.
- Loans that you have in the business name
- Agreements that you have made that result in a financial obligation.
- Lease, rental agreements etc.
Business Registration and incorporation documents.
Most recently filed Annual return (this is not your tax return)
Incorporation documents
Including:
- List of shareholders and directors
- business articles
- Share structure and ownership
- shareholder agreements.
Business registration and incorporation documents will be available from your lawyer. If you self-incorporated you likely do not have all of these documents.
Previously filed tax and information returns
- If incorporated your last filed Corporate tax return (T2)
- If self-employed your last filed personal tax return with the T2125
- Statement of Business activities.
- Copies of GST/HST/PST returns filed
- Copies of T4 Summary and T4s filed if you have payroll
- Copies of any T5018 (contractor payments) filed
- Copies of any T5 Summary and T5s filed for shareholder (if incorporated)
- Copies of any correspondence received from the Canada Revenue Agency
- Copies of any correspondence received from your province (if you are
- subject to PST).
Note that some of this information may be available online at CRA or your Province.
It may take a while to collect all of this information, but the best place to start is to connect with a professional who can provide more guidance on what information is required for your situation and what to do if some information is missing.
