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Canada Tax - Make GIFI available to non partners, for self tax reporting

All businesses have to file tax returns. Some prepare it themselves using other Xero product such as TaxCycle. To prepare tax returns it is important to start with CRA's GIFI values which maps the Chart of Accounts in Xero to the tax codes required by CRA.

Xero currently provides GIFI feature to partners but not business owners. This should be standard on all Xero files and not just partners. It should be a relatively quick fix to implement so that a business can decide on how its tax returns are prepared and when GIFI is added can prepare them more efficiently.

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Bill Carroll shared this idea  ·   ·  Report…  ·  Admin →
not planned  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi Bill, and others interested - appreciate you raising the idea here. Though we understand some business owners may want to control this themselves to clarify the current process - Atm,  GIFI mapping is available for T2125 and T1776 forms that integrate with TaxCycle. With TaxCycle being a Partner specific product there are no plans to at this time to open this feature further.

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  • Atul Shah commented  ·   ·  Report

    I raised a ticket for this too, not knowing that GIFI codes were available to partners only. This is crazy that Xero has no plans to make this more widely available. How do I file my taxes then? If Tax Cycle was available at a comparable price point to Turbo Tax's corporate SW (C$310) then I would consider using Tax Cycle and integrating Xero but even then, integration is only available to partners, and Tax Cycle starts at over $1000 for single users! Makes me want to switch accounting systems

  • Craig Clark commented  ·   ·  Report

    Trying to find a Quickbooks desktop alternative and this is a deal breaker for me

  • Murray Roddis commented  ·   ·  Report

    This is ridiculous... After switching from Quickbooks to XERO, I have questioned why I thought XERO was such great software. There are many hidden issues that really take away from the initial apparent convenience of using XERO for a small business owner. Not having access to managing the GIFI codes and doing my own CRA Tax reporting is a major issue for me. It looks like I am headed back to QuickBooks! I am not interested in paying $1020 per seat of Xero's proprietary Taxcycle software to submit a T2 for a small startup business with less than $20,000 in gross income! XERO is not for startups!

  • Myriam Coomber commented  ·   ·  Report

    We should be able to map our own accounts in Xero for tax purposes. I will have to create it manually outside of Xero, which adds a layer of complexity and potential source of errors as well going forward and for future tax returns.