Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 13 NOVEMBER 2000

The GIFI – Extra Compliance Burden for Canadian Corporate Taxpayers

PwC Management Services LP
Explore more from PwC Management Services LP

CanadaLitigation, Mediation & Arbitration

The Canada Customs and Revenue Agency (CCRA) now requires that all Canadian corporations file the new General Index of Financial Information (GIFI) with their federal income tax returns, starting with taxation years ending in 2000. The GIFI is intended to replace the financial statements that were traditionally filed with the returns.

The GIFI is a list of about seven hundred pre-defined financial statement items. Each is assigned a unique code. GIFI schedules are available in all tax software packages approved by CCRA.

The CCRA’s View Of The GIFI

The CCRA introduced the GIFI as a method of collecting financial information in a codified format to facilitate processing, validation and audit selection. The CCRA claims that the new codified format will increase efficiency by allowing it to process returns and answer questions faster, and will provide Statistics Canada with an improved collection process. It is also a step forward towards electronic filing of federal corporate returns.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Ontario Court Bifurcates Class Action As Practical Approach To Onerous Discovery Demands

An Ontario court granted a motion to bifurcate liability and damages stages in a class action alleging $500 million in hidden fees, finding that extensive documentary production requests were disproportionate and not relevant to determining liability. The decision addresses proportionality concerns in class actions where defendants face onerous discovery demands spanning millions of transactions over a decade.
CanadaLitigation, Mediation & Arbitration
Bennett Jones LLP
Bennett Jones LLP
Article

BLG At The SCC – What’s Coming In The Supreme Court’s Fall 2026 Sitting Schedule

The Supreme Court of Canada held its second annual ceremony marking the opening of the judicial year at its temporary home in the West Memorial Building, with Chief Justice highlighting the Court's increased caseload and architectural features. What significant constitutional and legal challenges will the Court address in its fall 2026 session, including cases on firearm regulations, Crown immunity, and vicarious liability?
CanadaLitigation, Mediation & Arbitration
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

The Coldcard Exploit: Why Victims May Have Two Routes To Recovery

A five-year-old firmware defect in Coldcard hardware wallets has enabled attackers to systematically drain an estimated $116 million in Bitcoin from over 5,200 victims since July 2026. This unprecedented exploit raises critical questions about manufacturer liability and creates two distinct legal pathways for recovery: blockchain tracing against the perpetrators and potential litigation against Canadian manufacturer Coinkite for product defects that undermined the fundamental security promise of devices mar
CanadaLitigation, Mediation & Arbitration
WeirFoulds LLP
WeirFoulds LLP
Article

Plaintiffs Awarded A Total Of $800,000 In Damages For Defamation (Murdy v. Barrette)

A Canadian court awarded $800,000 in damages to a couple defamed by serious false allegations of sexual assault and criminal misconduct spread through social media. The case examines how factors like the severity of accusations, use of social media platforms, and a defendant's failure to mount a defense can dramatically escalate defamation damages beyond typical awards.
CanadaLitigation, Mediation & Arbitration
Gardiner Roberts LLP
Gardiner Roberts LLP