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Corporate linking

Published: October 28, 2016

Corporate linking shares information between associated/related corporations. The data sharing is live when both files are open on your screen, or you can edit the files separately and update them later. For a one-time copy and paste of the Corporate Group Information (CGI) worksheet, see Smart Copy/Paste.

  1. Prepare the Corporate Group Information (CGI) worksheet in a T2 return.
  2. Go to the Data tab and click Create CGI file. This creates a separate corporate linking file: with a .CGILink file extension. 
    Create CGI file in the Data menu
  3. Save the CGI file in the same location as the tax return. If you need to share this file with other people on your network, make sure to save it to a location that those people have permissions to access it. 
  4. Open a T2 return for a corporation listed on the CGI workshet and click Import CGI file on the Data tab (or, drag and drop the file onto the TaxCycle window). TaxCycle brings in the information from the CGI link file and creates a live link to it.
  5. From this point on, TaxCycle considers the linked returns as either Source or Target. Each group can have only one Source, but it may have as many Targets as appear on the CGI worksheet. Check the message at the top of the CGI worksheet to see whether the corporation you are working on is the Source or a Target. You can make any target corporation the source corporation by clicking the Update CGI button which replaces the Create CGI button once a link is established.
    Source CGI worksheet
  6. Changes to the CGI worksheets automatically flow between Source and Target files. However, please remember to save and the Source corporation file last to make sure the latest data is saved in the CGILink file. (In the longer term, we will work toward updating the CGILink file no matter which corporation is closed last.)
  7. If the Target corporation files are closed when you make changes to the Source corporation, review messages will highlight those differences when you next open the Target corporation.
    Review message. CGI worksheet does not match
  8. If you change the CGI worksheet in the return of a Target corporation, it breaks the link. TaxCycle warns and suggests re-enabling it.
    Update target CGI worksheet
  9. To cancel the link to the CGI file, click Cancel CGI Link.