T2 return
Also written as t2.
Definition
The federal corporate income tax return. Every incorporated Canadian corporation files annually, even when inactive.
Long reference
Handbook
T2 Corporate Return Overview
Citations, procedures, and worked examples for t2 return.
Related terms
CCPC
Canadian-Controlled Private Corporation. A private corporation resident in Canada not controlled by non-residents or public companies. Unlocks the Small Business Deduction.
Small Business Deduction
Reduced federal corporate tax rate on the first $500,000 of active business income earned by a CCPC. Combined with provincial rates of roughly 9-13%.
GIFI
General Index of Financial Information. CRA's standardized chart of accounts codes used in the T2 return. Ledg maps your accounts to GIFI automatically.