Guide to the General Index of Financial Information ... - New Learner

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8040 Sales from resource properties8041 Petroleum and natural gas sales8042 Petroleum and natural gas sales to related parties8043 Gas marketing8044 Processing revenue8045 Pipeline revenue8046 Seismic sales8047 Mining revenue8048 Coal revenue8049 Oil sands revenue8050 Royalty income8051 Oil and gas partnership/joint venture income/loss8052 Mining partnership/joint venture income/loss8053 Other production revenuewell operating fees and sulphur revenue8089 Total sales of goods and services8090 Investment revenue8091 Interest from foreign sourcesmay be reported as gross of withholding taxes –withholding taxes would then be reported inItem 9283 – Withholding taxes8092 Interest from Canadian bonds and debentures8093 Interest from Canadian mortgage loans8094 Interest from other Canadian sourcesfinance income, guaranteed investment certificatesinterest, interest on overpaid taxes, and loan interest8095 Dividend income8096 Dividends from Canadian sources8097 Dividends from foreign sourcesmay be reported gross of withholding taxes –withholding taxes would then be reported inItem 9283 – Withholding taxes8100 Interest income (financial institutions)8101 Loan interest8102 Securities interest8103 Deposits with banks interest8120 Commission revenuecommissions earned on the sale of products or servicesby businesses such as advertising agencies, brokers,insurance agents, lottery ticket sales, salesrepresentatives, or travel agenciessome corporations may present sales and cost of sales ontheir income statement, with commission earned beingthe net amount – report only the commission on theGIFIExampleLottery ticket sales $40,000Cost of lottery tickets $25,000Commission $15,000This would be reported as:Item 8120 – Commission revenue 150008140 Rental revenuerevenue from the renting of boats, hotel or motel rooms,machinery or equipment, and storage lockers8141 Real estate rental revenueamounts received as income from renting or leasing ofapartments, commercial buildings, land, office space,residential housing, and shopping centresmay also use to report income from investments inco-tenancies and co-ownerships8142 Film rental revenue8150 Vehicle leasinglong-term vehicle leasing and short term vehicle leasing8160 Fishing revenue8161 Fish products8162 Other marine productsamounts received from the sale of flippers, herring roe,herring scales, Irish moss, kelp, seal meat, and seaweed8163 Fishing grants, credits, and rebates8164 Fishing subsidies8165 Compensation for loss of fishing income orpropertyamounts received from The Atlantic GroundfishStrategy (TAGS) or insurance proceeds8166 Sharesman incomeItems 8210 to 8212 – realized gains/losses on disposal ofassets – These items represent the net amount of proceeds overnet book value on the disposal or sale of an asset.NoteLosses on disposal/sale of assets shown as an expenseshould be reported in these items as a negative.8210 Realized gains/losses on disposal of assetsgain/loss or profit/loss on disposal/sale of capital assets8211 Realized gains/losses on sale of investmentsprofit/loss on disposal of investments or marketablesecurities8212 Realized gains/losses on sale of resourceproperties8220 NPO amounts received8221 Membership fees8222 Assessments8223 Gifts8224 Gross sales and revenues from organizationalactivitiesItems 8230 to 8250 – other revenue – This block of items is forsecondary sources of income. Although there are items in thisblock that are often main sources of income, Item 8000 – Tradesales of goods and services, should still be used to report the mainincome.compensation could also be reported in this item (forexample, compensation for collecting sales tax)8121 Commission income on real estate transactions18www.cra.gc.ca
ExampleA corporation, whose main source of revenue is consultingfees, would choose Item 8000 – Trade sales of goods andservices, to report this income.However, if the corporation’s main source of income isfrom architectural design, but there is secondary incomefrom consulting, the architectural income would bereported in Item 8000 and the consulting income inItem 8241 – Consulting fees.8230 Other revenuegains on settlement of a debt and miscellaneous revenue8231 Foreign exchange gains/lossesamortization of deferred exchange gains and losses andrealized gains and losses on foreign currency8232 Income/loss of subsidiaries/affiliatesfor corporations that report investment in subsidiarycorporations on the equity basis8233 Income/loss of other divisions8234 Income/loss of joint venturesfor corporations that report investments in jointventures on the equity basis8235 Income/loss of partnershipsfor corporations that report investments in partnershipson the equity basisNoteA loss on foreign exchange, subsidiaries/affiliates, otherdivisions, joint ventures or partnerships shown as anexpense should be reported in the appropriate item(Items 8231 to 8235) as a negative.8236 Realization of deferred revenuesrealization of interest income, realization of instalmentpayments, and realization of service charges8237 Royalty income other than resourceroyalty income or royalty fees from computer programs,copyrights, motion pictures, or patents8238 Alberta royalty tax credits8239 Management and administration fees8240 Telecommunications revenue8241 Consulting fees8242 Subsidies and grantsgovernment assistance and subvention payments (fornon-fishing corporations), federal, provincial, territorial,or municipal grants received by corporations that arenon-profit organizations8243 Sale of by-productssecondary income earned by a garage selling discardedoil or tires to be used for other than the intended use, ora restaurant selling discarded food as pig feed8244 Deposit services8245 Credit services8246 Card services8247 Patronage dividends8248 Insurance recoverieslife insurance proceeds on the death of insuredexecutives8249 Expense recoveries8250 Bad debt recoveries8299 Total revenuerepresents the sum of all revenue amounts and must bereported if there is no farming revenue (see “Validitycheck items” on page 5)Cost of sales8300 Opening inventory8301 Opening inventory – finished goods8302 Opening inventory – raw materials8303 Opening inventory – goods in processopening inventory – work in progress8320 Purchases/cost of materialscost of merchandise sold, fuel and purchased power,manufacturing supplies used, materials, andmerchandise purchasedmay be reported net of discounts earned on purchases8340 Direct wagescommissions, labour, production wages, and supervisionwhen shown in cost of sales8350 Benefits on direct wages8360 Trades and sub-contractscontract labour, custom work, sub-contract labour, andoutside labour8370 Production costs other than resource8400 Resource production costsgas processing, oil and gas operating expenses, oil andgas production, milling, smelting, and refining8401 Pipeline operations8402 Drilling8403 Site restoration costsfuture removal costs8404 Gross overriding royalty8405 Freehold royalties8406 Other producing properties rentalfreehold lease rentals and freehold delay rentals8407 Prospect/geologicaldigital processing, geochemical work, geophysical work,gravity meters, magnetic playbacks, seismographs,staking, and velocity surveys8408 Well operating, fuel and equipment8409 Well abandonment and dry holes8410 Other lease rentals8411 Exploration expensesaerial surveys8412 Development expensesstripping costs8435 Crown charges8436 Crown royalties8437 Crown lease rentals8438 Freehold mineral tax8439 Mining taxes8440 Oil sand leases8441 Saskatchewan resource surcharge8450 Other direct costs8451 Equipment hire and operationwww.cra.gc.ca 19
Page 5 and 6: General InformationWho can use the
Page 8 and 9: Notes to the financial statementsYo
Page 11 and 12: Part 2 - GIFI code and amount sent
Page 13: Items 1400 to 1403 - Related partie
Page 16 and 17: 2704 Gold and silver certificates27
Page 20 and 21: 8452 Log yardbarker, bucking, clipp
Page 24: 9711 Feed, supplements, straw, and
Page 28 and 29: Part 21001 Operating Name: Manufact

Guide to the General Index of Financial Information ... - New Learner

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