Trucking Corporation Tax Checklist
A corporation-focused checklist for Canadian trucking companies, owner-operator corporations and fleet operators.
Use this checklist to organize business records before preparing tax filings or meeting with a tax professional.
Educational use only
This checklist is for general educational purposes only. It may not be appropriate for every reader's or visitor's tax situation and should not be treated as personal tax, legal, financial, accounting, payroll, GST/HST, regulatory or licensing advice. Filing duties, deductible expenses, employment status, GST/HST obligations, reporting requirements and supporting documents depend on your specific facts, province or territory, contracts, residency, business structure and the rules for the tax year being filed.
1. Corporate and accounting records
- Articles of incorporation, business number, CRA program accounts, minute book and shareholder information.
- Year-end trial balance, general ledger, bank reconciliations and financial statements.
- Loan agreements, equipment financing, lease agreements, shareholder loan records and related-party transactions.
- T2 prior-year return, notice of assessment, instalment records and CRA correspondence.
- Insurance policies, permits, safety certificates, carrier profiles, IFTA or fuel tax records where applicable.
- Separate records for each truck, trailer, driver, route or customer if available.
2. Freight revenue and trucking expenses
- Load confirmations, bills of lading, settlement statements, invoices and factoring statements.
- Fuel, DEF, oil, repairs, maintenance, tires, washes, parking, tolls, scales and permits.
- Truck and trailer purchases, leases, financing, CCA support and disposal records.
- Broker fees, dispatch fees, factoring fees, GPS, ELD subscriptions, software and communication costs.
- Meals, lodging, travel and driver expense reimbursements with company policy support.
- Cross-border documents, currency exchange records and customer contracts.
3. Payroll, GST/HST and corporation compliance
- T2 filing requirements, electronic filing requirement, balance-due date and instalment obligations.
- GST/HST returns, ITC support, sales invoices and purchase invoices with required information.
- Payroll source deductions, T4s, T4As where applicable, workers compensation and benefits records.
- Driver classification support for employees, subcontractors, owner-operators and incorporated drivers.
- Personal services business review if the corporation mainly provides the services of an incorporated worker to one payer under employee-like conditions.
- Fees-for-service reporting and T4A considerations where applicable, especially in trucking arrangements reviewed by CRA.
4. Final review before filing
- Reconcile settlement statements, factoring deposits and accounts receivable.
- Confirm shareholder draws, wages, dividends and reimbursements are recorded correctly.
- Review meals, vehicle, home office and mixed-use expenses for personal portions.
- Keep corporate, GST/HST, payroll and source documents for CRA review.
Official sources and reference links
This checklist is a preparation aid. Confirm current eligibility, filing duties, licensing requirements and documentation with CRA guidance, the applicable regulator, or a qualified professional.