Preparing Your Corporate Tax Returns: Canada and Provinces

Patricia Connor was a lawyer in Vancouver.

This CCH publication is generally a comprehensive manual providing step-by-step instructions for the systematic completion of the T2 Corporate Tax return. It is well organized, with an excellent topical index that allows the user to locate quickly the necessary information, including easy access to cross-referenced items. Similarly, each chapter is preceded by a detailed “Points Covered” table of contents, which enhances user efficiency. In addition, both the topical index and the “Points Covered” contain appropriate references to Tax Department forms that must be filed in conjunction with various transactions.

This work is intended as a basic guide for individuals who prepare or review corporate tax returns, and it does provide a functionally sound instructive approach. The use of graphic visual aids (including illustrated forms and schedules, sample calculations, and proforma returns) provides comprehensive reinforcement of written analysis and direction; this is particularly valuable considering the extreme complexity of the statutory language.

This guide is widely used in Canada by auditors and accountants in public and private practice. Due to the early preparation date (April 1985), however, Preparing Your Corporate Tax Returns does not include details of the significant changes to the tax system resulting from the May 1985 Budget, nor does it encompass the legislative amendments contemplated by Bill C72 and Bill C84.

In other areas, however, Preparing Your Corporate Tax Returns is a technically sound instruction manual that will appeal to and be comprehended by a wide range of readers. The inclusion of case studies as a learning aid contributes to the effectiveness of the work and makes it more readily usable than other T2 guides presently available.