Operating name changed

Forum|Forum|6 years ago
June 3, 2020
1 reply
5 views

Hello,

The main company changed its industry, which result in the change of operating company name. In this case, should I make another G125 (i.e. #125-1 for previous company name and previous year F/S), #125-2(current company operating name with the current F/S)) to compare it with the previous year? Otherwise, is it okay to use a same G125 to compare previous and current F/S because of the same Business number and same legal business name?

Thank you!

ProFile (Canada)

This topic has been closed for replies.

Best answer by Pro4

Hi, thank you for using Intuit ProFile Community

Did you contact Canada Revenue Agency (CRA):

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/change-operating-name.html

Since you have to notify CRA of an operating name change, I would also consult them regarding required books, records and T2 filing

Hope this helps

P

Pro4Answer

Level 8

Hi, thank you for using Intuit ProFile Community

Did you contact Canada Revenue Agency (CRA):

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/change-operating-name.html

Since you have to notify CRA of an operating name change, I would also consult them regarding required books, records and T2 filing

Hope this helps

P

Profile-UserAuthor

Level 2

Thank you for your reply. Yes, it was already notified to CRA, however, I am confused to record S125 technically :) Which one you recommend me separate S125 or same S125.... ?

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