Required Schedules Checker
Seven answers give the whole schedule set a nil return carries: the GIFI schedules, Schedule 24, Schedule 50, Schedule 8.
Written and reviewed by Sharad Gondaliya, CPA (Ontario), CPA Ontario Membership 61040184.
Last reviewed: October 30, 2026
Answer all seven questions.
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The Whole Set Behind One Set of Answers
Other tools here each test one schedule. This one asks what is on the books and returns the whole set, which is the order the question actually arrives in: nobody wonders about Schedule 50 in isolation.
Where you want one schedule in depth, the GIFI schedule requirement checker, the Schedule 50 shareholder threshold checker and the Schedule 8 CCA requirement checker each go further than this page does.
Two more sit outside the seven answers, because reaching either of them settles a different question. The Schedule 3 dividends paid checker and the Schedule 7 investment income calculator each test a year that is not nil at all.
Five Things Withdraw the GIFI Permission
A corporation inactive all year with nothing to report may omit GIFI Schedules 100, 125 and 141. Any share capital, cash, shareholder loan, incorporation cost or bank charge makes them required.
Five items, and one of them is enough. The permission is narrower than it first reads, because a corporation that was incorporated has share capital and a corporation with a bank account has held cash, which between them covers nearly every corporation that exists.
| Schedule | What puts it on the return | Inside the fee |
|---|---|---|
| GIFI Schedules 100, 125 and 141 | Any of share capital, cash, a shareholder loan, an incorporation cost or a bank charge | Yes |
| Schedule 24 | A first return | Yes |
| Schedule 50 | Any shareholder at 10 percent or more | Yes |
| Schedule 8 and loss continuity | Depreciable property, or a loss carried forward | Yes |
The Three GIFI Schedules Travel Together
Schedules 100, 125 and 141 are the balance sheet, the income statement and the notes checklist. The permission to omit covers all three or none of them, so there is no position in which one goes on the return and the others stay off.
That is why a single bank charge matters out of proportion to its size. It is an item to report, so all three schedules are required, and two of them then carry mostly zeros.
Every Schedule Here Is Inside the Fee
The fee of $300.00 plus HST per tax year covers the return the corporation actually needs: the T2 Short where it qualifies, GIFI Schedules 100, 125 and 141 where they are required, Schedule 24 on a first return, Schedule 50 for every shareholder at 10 percent or more, Schedule 8 and loss continuity.
So the answer this page gives has no price attached to it. A return with every schedule required costs what a return with none of them costs, which is worth knowing before you worry about the count.
Frequently Asked Questions
Which schedules does a nil T2 return need?
It depends on what is on the books. GIFI Schedules 100, 125 and 141 where any of five items is present, Schedule 24 on a first return, Schedule 50 for any shareholder at 10 percent or more, and Schedule 8 with loss continuity where there is depreciable property or a carried loss.
Can a nil return omit the GIFI schedules?
Only where none of five items is on the books. Any share capital, cash, shareholder loan, incorporation cost or bank charge makes GIFI Schedules 100, 125 and 141 required; the permission to omit them belongs to a corporation inactive all year with nothing to report.
When is Schedule 50 required?
Schedule 50 is tied to any shareholder at 10 percent or more, and it names every shareholder who meets that test.
When does Schedule 24 go on a return?
On a first return, and only on that one. A corporation filing for the first time carries it whether or not the first year had any activity.
Do more schedules cost more?
No. The fee of $300.00 plus HST per tax year covers the schedules the return requires, however many that turns out to be.
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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