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#2267789 - 03/16/22 08:10 PM GAR: Tax Year vs. Calendar Year
Stefanee Online
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Joined: Aug 2021
Posts: 5
For the first time, we came across a tax return that reports revenue over a tax year from 04/01/20 to 03/31/21. Do we report this figure even though it covers a 12 month period across two different calendar years?

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CRA
#2267823 - 03/17/22 03:24 PM Re: GAR: Tax Year vs. Calendar Year Stefanee
Len S Offline
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Joined: Oct 2004
Posts: 1,915
Connecticut
I assume you are referring to the Gross Annual Revenue field for CRA purposes. In that case, it's the GAR of the business as provided to the bank. It doesn't matter if it's calendar year or fiscal year or the tax year for the business.
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#2267944 - 03/21/22 02:09 PM Re: GAR: Tax Year vs. Calendar Year Len S
Stefanee Online
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Joined: Aug 2021
Posts: 5
Thank you so much, Len. Very appreciative of your quick response!

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