The T2 Short Return

Who can use the T2 Short Return?

The T2 Short Return is a simpler version of the T2 Corporation Income Tax Return. There are two categories of corporations
that are eligible to use this return. You can use this return if the corporation is:
• a Canadian-controlled private corporation throughout the tax year and has either a loss or a nil
net income for income tax purposes this year
• exempt from tax under section 149 of the Income Tax Act (such as a non-profit organization)

In addition, the corporation must meet all of the following conditions to use this return:
• 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 paid)
• it did not receive or pay out any taxable dividends
• it is reporting in Canadian currency
• it does not have an Ontario transitional tax debit
• it does not have an amount calculated under section 34.2 of the Income Tax Act

File a regular T2 Corporation Income Tax Return if the corporation does not fit into either of the above categories or does not
meet all of the above conditions.
Except for Quebec and Alberta, the T2 Short Return also serves as a provincial or territorial income tax return.

What should you attach to the T2 Short Return?

There are three General Index of Financial Information (GIFI) schedules you have to attach to this return*:
• 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")
• Schedule 141, Notes Checklist, for any notes to the financial statement information and to
indicate the involvement of an accountant
For more information, see guide RC4088, General Index of Financial Information (GIFI).

* If your corporation is inactive (you answered yes on line 280) and there is no balance sheet or income statement
information to report, you do not have to attach these schedules.

Depending on the circumstances, you may have to attach other forms or schedules, like Schedule 1, Schedule 8
and Schedule 50. For more information, see page 2 of the T2 Short Return and the T2 Guide. For your convenience,
this package includes the short version of Schedule 1.

Note
If you need a copy of guide T4012, T2 Corporation – Income Tax Guide, or other schedules, go to canada.ca/cra-forms or
call 1-800-959-5525. If you need any additional information to help you complete this return, call Business Enquiries
at 1-800-959-5525.

T2 Short E (19) (Ce formulaire est disponible en français.)

 Schedule 1 S
Code 1901
Net Income (Loss) for Income Tax Purposes Protected B when completed
Corporation's name Business number Tax year-end
Year Month Day

• Use this schedule to reconcile the corporation's net income (loss) as reported on the financial statements with its net income (loss) for tax purposes. For more
information, see guide T4012, T2 Corporation – Income Tax Guide.
• All legislative references are to the Income Tax Act.

Net income (loss) after taxes and extraordinary items from line 9999 of Schedule 125 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A
Add:
Provision for income taxes – current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101
Provision for income taxes – deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102
Amortization of tangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
Amortization of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106
Recapture of capital cost allowance from Schedule 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107
Loss on disposal of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111
Charitable donations and gifts from Schedule 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Taxable capital gains from Schedule 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113
Depreciation in inventory – end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117
Non-deductible meals and entertainment expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Other reserves on lines 270 and 275 from Schedule 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125
Income or loss for tax purposes – partnerships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Income or loss for tax purposes – joint ventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132

Other additions (If you need more space, attach additional schedules):
Description Amount
605 295

Ż
Total of column 2 296
Ż
Total of lines 101 to 132 and line 296 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500
Subtotal (amount A plus line 500) B
Deduct:
Bad debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 304
Equity in income from subsidiaries or affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 306
Book income of joint venture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 348
Book income of partnership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 349
Gain on disposal of assets per financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 401
Capital cost allowance from Schedule 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 403
Terminal loss from Schedule 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 404
Allowable business investment loss from Schedule 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
Holdbacks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 408
Other reserves on line 280 from Schedule 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 413
Contributions to deferred income plans from Schedule 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 417
Incorporation expenses under paragraph 20(1)(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 418

Other deductions (if you need more space, attach additional schedules):
Description Amount
705 395

Total of column 2 Ź 396

Ż
Total of lines 304 to 418 and line 396 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 510
Net income (loss) for income tax purposes – amount B minus line 510 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C
Enter amount C on line 300 on page 1 of the T2 Short Return. If the amount on line C is a positive amount, and the corporation is not exempt from tax under
section 149, file a regular T2 Corporation – Income Tax Return.

T2 SCH 1 S E (19)
 200 S
T2 Short Return
Code 1901
(2019 and later tax years) Protected B
when completed
• This form serves as a federal and provincial or territorial corporation income tax return, unless the corporation is located in
Quebec or Alberta. If the corporation is located in one of these provinces, you have to file a separate provincial corporation
055 Do not use this area
return.
• All legislative references in this return are to the Income Tax Act. This return may contain changes that had not yet become
law at the time of publication.
• Send one completed copy of this return, including schedules, and the General Index of Financial Information (GIFI) to your
tax centre or tax services office. You have to file the return within six months after the end of the corporation's tax year.
• For more information, see canada.ca/taxes or guide T4012, T2 Corporation – Income Tax Guide.

Identification
Business number (BN) 001 R C
Corporation's name 002

Address of head office To which tax year does this return apply?
Has this address changed since the Tax year start Tax year-end
last time we were notified? . . . . . . . . . . . 010 Yes No Year Month Day Year Month Day
If yes, complete lines 011 to 018. 060 061
011
Has there been an acquisition of control
012 resulting in the application of
City Province, territory, or state subsection 249(4) since the tax year
start on line 060? . . . . . . . . . . . . . . . . . . . 063 Yes No
015 016
Country (other than Canada) Postal or ZIP code Year Month Day
If yes, provide the date control was
017 018
acquired . . . . . . . . . . . . . . . . . . . . . . . . . . . 065
Mailing address (if different from head office address) Is the date on line 061 a deemed
Has this address changed since the last tax year-end according to
time we were notified? . . . . . . . . . . . . . . 020 Yes No subsection 249(3.1)? . . . . . . . . . . . . . . . . 066 Yes No
If yes, complete lines 021 to 028.
Is the corporation a professional
021 c/o corporation that is a member of a
022 partnership? . . . . . . . . . . . . . . . . . . . . . . . 067 Yes No
023
Is this the first year of filing after:
City Province, territory, or state
Incorporation? . . . . . . . . . . . . . . . . . . . . . 070 Yes No
025 026
Amalgamation? . . . . . . . . . . . . . . . . . . . . 071 Yes No
Country (other than Canada) Postal or ZIP code
027 028 If yes, complete lines 030 to 038 and attach Schedule 24.

Location of books and records (if different from head office address) Has there been a wind-up of a subsidiary
Has the location of books and records under section 88 during the current tax
year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . 072 Yes No
changed since the last time we were
notified? . . . . . . . . . . . . . . . . . . . . . . . . . 030 Yes No
If yes, complete and attach Schedule 24.
If yes, complete lines 031 to 038.
031 Is this the final tax year before
032 amalgamation? . . . . . . . . . . . . . . . . . . . . 076 Yes No
City Province, territory, or state
035 036 Is this the final return up to
dissolution? . . . . . . . . . . . . . . . . . . . . . . 078 Yes No
Country (other than Canada) Postal or ZIP code
037 038
Net income (loss) for income tax
040 Type of corporation at the end of the tax year (tick one) purposes from Schedule 1, financial
statements, or GIFI . . . . . . . . . . . . . . . . . 300
1 Canadian-controlled private corporation (CCPC)
2 Other private corporation
Provincial/territorial
3 Public corporation jurisdiction . . . . . . . . . . . . . . . . . . . . . . . . 750
4 Corporation controlled by a public corporation
5 Other corporation (specify) Tax instalments paid . . . . . . . . . . . . . . . . 840
085 If the corporation is exempt from tax under section 149, tick one of If there are excess payments in this year's
the following boxes: instalment account, indicate the refund code . . . . . . . . . . . . . 894
1 Exempt under paragraph 149(1)(e) or 149(1)(l)
Do not use this area
2 Exempt under paragraph 149(1)(j)
095
4 Exempt under other paragraphs of section 149 096

T2 Short E (19) (Ce formulaire est disponible en français.) Page 1 of 2

 Protected B when completed
Attachments
Financial statement information: Use GIFI schedules 100, 125, and 141.
Schedules – Answer the following questions. For each yes response, attach the schedule that applies to the T2 Short Return, unless otherwise instructed.

Yes Schedule

Is the net income/loss shown on the financial statements different from the net income/loss for income tax purposes? . . . . . . . . . . . . . . . 201 1

Is the corporation claiming any type of loss? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204 4

Has the corporation realized any capital gains or incurred any capital losses during the tax year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 6

Does the corporation have any property that is eligible for capital cost allowance? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 208 8

Is the corporation related to any other corporations? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150 9

Has the corporation had any transactions, including section 85 transfers, with its shareholders, officers, or employees, other than
transactions in the ordinary course of business? Exclude non-arm's length transactions with non-residents . . . . . . . . . . . . . . . . . . . . . . . . 162 11

Is the corporation claiming deductible reserves? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 213 13

Has the corporation paid any royalties, management fees, or other similar payments to residents of Canada? . . . . . . . . . . . . . . . . . . . . . . 164 14

Is the corporation claiming a deduction for payments to a type of employee benefit plan? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 15

Is the corporation an associated CCPC? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160 23

For private corporations: Does the corporation have any shareholders who own 10% or more of the corporation's common and/or
preferred shares? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173 50

Additional information
Is the corporation inactive? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280 Yes No

Specify the principal products mined, manufactured, sold, 284 285 %

constructed, or services provided, giving the approximate 286 287 %
percentage of the total revenue that each product or
service represents. 288 289 %

If the corporation's major business activity is construction, did you have any subcontractors during the tax year? . . . . . . . . . 295 Yes No

If this return was prepared by a tax preparer for a fee, provide their EFILE number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 920

Certification
I, 950 951 954 ,
Last name First name Position, office, or rank
am an authorized signing officer of the corporation. I certify that I have examined this return, including accompanying schedules and statements, and that the
information given on this return is, to the best of my knowledge, correct and complete. I also certify that the method of calculating income for this tax year is
consistent with that of the previous tax year except as specifically disclosed in a statement attached to this return.

955 956
Date (yyyy/mm/dd) Signature of the authorized signing officer of the corporation Telephone number

Is the contact person the same as the authorized signing officer? If no, complete the information below . . . . . . . . . 957 Yes No

958 959
Name of other authorized person Telephone number

Language of correspondence – Langue de correspondance

Indicate the language of correspondence by entering 1 for English or 2 for French. 990
Indiquez votre langue de correspondance en inscrivant 1 pour anglais ou 2 pour français.

Privacy statement
Personal information is collected for the purposes of the administration or enforcement of the Income Tax Act and related programs and activities including
administering tax, benefits, audit, compliance, and collection. The information collected may be used or disclosed for purposes of other federal acts that
provide for the imposition and collection of a tax or duty. It may also be disclosed to other federal, provincial, territorial or foreign government institutions to the
extent authorized by law. Failure to provide this information may result in interest payable, penalties or other actions. Under the Privacy Act, individuals have
the right to access their personal information, request correction, or file a complaint to the Privacy Commissioner of Canada regarding the handling of the
individual's personal information. Refer to Personal Information Bank CRA PPU 047 on Info Source at canada.ca/cra-info-source.

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