Sole Shareholder Corporation Checker
A single shareholder holds 100 per cent, which is above the Schedule 50 threshold. What a one-person corporation reports.
Written and reviewed by Sharad Gondaliya, CPA (Ontario), CPA Ontario Membership 61040184.
Last reviewed: November 3, 2026
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Gondaliya CPA Professional Corporation is a registered EFILE electronic filer. Returns are prepared and transmitted in Canada. Credentials are never shared and never used offshore.
One Hundred Per Cent Is Above Ten
Schedule 50 lists every shareholder holding 10 per cent or more. A sole shareholder holds the whole corporation, so the test is met by a wide margin and the schedule is always on the return.
It reads like a rule for corporations with outside investors, and the one-person company is the case where it most reliably applies.
What a One-Person Nil Return Carries
| On the return | Required? | What triggers it |
|---|---|---|
| Schedule 50, shareholder information | Always, for a sole holder | A single shareholder holds 100 per cent |
| GIFI Schedules 100, 125 and 141 | Where anything sits on the books | Share capital, cash, a shareholder loan or a cost paid |
| Schedule 24, first-time filer information | On a first return | The corporation’s first tax year |
| The T2 Short | Where every condition holds | Inside the fee rather than charged separately |
| Schedule 8 and loss continuity | Where there is a balance | Depreciable property or a loss carried forward |
The Schedule 50 shareholder threshold checker measures several holdings against the threshold, and the shareholder register completeness checker checks what the register has to hold for each one.
The Shareholder Loan Is a Reporting Question Here
A balance owed either way makes the GIFI schedules required, and it does not stop the year being nil. That is the reporting answer, and it is the one these pages give.
What a loan balance means for tax turns on periods and a rate this service does not carry, so it is not answered here rather than answered badly. The due to versus due from shareholder checker shows which side of the balance sheet the balance sits on.
Frequently Asked Questions
Does a one-person corporation file Schedule 50?
Yes. The schedule lists every shareholder at 10 per cent or more, and a sole shareholder holds 100 per cent, so the holding is always listed.
Do shares issued at incorporation make the GIFI schedules necessary?
Yes. Share capital sits on the balance sheet, which makes GIFI Schedules 100, 125 and 141 required even on a year with no activity. They are inside $300.00 plus HST per tax year.
Does a shareholder loan stop the year being nil?
No. A balance in either direction makes the GIFI schedules required and leaves the year nil. What the loan means for tax is a separate question this service does not answer.
Nil T2 Filing, $300.00 plus HST per tax year
Type your corporation name, pick your unfiled years, pay, and sign Form T183CORP on a secure screen. Your CRA confirmation is emailed within 3 business days.
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