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CRA Data Collection for New Businesses

What revenue code do I use to report on start up businesses?

"According to the CRA Data Collection Guide, The institution should use the actual gross annual revenue to date (including $0 if a new business has had no revenue to date)".

Saying this a different way, if the entity has never opened its doors and is truly a start-up business, then you would select Code 3 - Revenues not known. If the entity is an existing business and has been open for business but due to its newness doesn't have any tax returns and/or financial statements to date, then you would use Code 1 - Revenues of$1 million or less.


First published on 03/01/2004

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