About GIFI

GIFI stands for General Index of Financial Information - an extensive and standardized list of financial statement items in which each item has a unique code. The CRA's goal in developing the GIFI is to provide a list of financial statement items that would allow corporations to report information from their balance sheets, income statements and statements of retained earnings.

This format allows the the CRA to perform electronic validations of information during the processing of T2 returns.

In either the S100 or S125, using the provided dropdown boxes, GIFI codes and descriptions can be selected under each section: Assets, Liabilities, Equity, and Revenue.

According to the CRA's T2 software specifications, some GIFI codes are system-calculated only and cannot be overridden. Calculations are based on the sum of itemized entries under GIFI codes relating to the total. See here.

Using keywords

Select a GIFI code field and select F6 on your keyboard. a GIFI code list appears and you can use keywords to search for the best GIFI code for your entry.

Further questions

For more information on which GIFI codes to use, please contact the CRA’s business tax support line at 1-800-959-5525.