Corporate Income Tax — T2
Your annual T2 corporate return, prepared from your financial statements and filed with the CRA within six months of your fiscal year-end. We handle the full return including all required schedules and the GIFI financial statement submission.
Accurate preparation reduces the risk of reassessment and ensures the small business deduction and all available credits are correctly applied. Still deciding whether to incorporate at all? Our incorporate-or-not guide sets out the rate, the running costs, and the situations where it is not worth it.
- Full T2 preparation and CRA e-filing
- Schedule 1 reconciliation of net income to taxable income
- Small business deduction (SBD) calculation and tracking
- GIFI financial statement schedules (100, 101, 125, 141)
- Notice of assessment review and follow-up
CCA deductions reduce taxable income and must be tracked precisely across asset classes. We maintain your Schedule 8 from year to year, apply the accelerated investment incentive where it applies, and plan around terminal loss and recapture on dispositions.
- Schedule 8 preparation and multi-year UCC tracking
- Accelerated investment incentive (AII) and immediate expensing
- Half-year rule application on additions
- Recapture and terminal loss calculation on disposals
- Class selection guidance on new asset purchases
Most corporations are required to remit quarterly tax installments. We calculate the amounts owing under the prior-year or current-year method, whichever minimizes cash outflow, and provide a payment schedule for the year ahead.
- Quarterly installment calculation and schedule
- Prior-year vs. current-year method comparison
- Arrears interest avoidance planning
- Year-end balance estimate to support cash flow planning
- Installment remittance reminders
CRA queries and audit requests require a precise, well-documented response. We represent your corporation in correspondence with the CRA, prepare supporting documentation, and handle formal objections where the assessment is incorrect.
- Response to CRA review and audit requests
- Supporting documentation preparation
- Notice of objection filing and follow-up
- Voluntary disclosure review where prior-year errors exist
- Director liability advice for corporations with outstanding obligations
A T2 return is from $999 for a corporation whose books are up to date, whether we keep them or you do, with capital cost allowance and your instalment schedule included. A return that needs more, such as several related companies or an unusually complicated year, gets a written quote naming exactly what it adds before any work begins, and it doesn't move unless the scope does. Remuneration planning is billed at $125 an hour and CRA work hourly from $125. Prices are before tax — we add 13% HST to each invoice. GST/HST No. 75896 0975 RT0001. Every price we charge, for every service, is on the pricing page.
To get started, fill in Form GA-15, the corporate intake, and gather what's on Form GA-16, the document checklist. The intake asks for shareholders' SINs, so send it back through the secure upload page rather than by email.
Working Together
What we need,
and what you get
What we need from you
Form GA-15, the corporate intake, and the documents on Form GA-16, the checklist: year-end bank and loan statements, your books if we do not keep them, last year's T2 and its notice of assessment, and the shareholder details. The intake asks for shareholders' SINs, so it comes back through the secure upload page, never by email.
What happens next
We confirm the scope and quote the fee in writing before any work begins: from $999 when the books are up to date. Books that need catching up are priced as bookkeeping first. We prepare the return and the GIFI statements, and anything that looks off is a question to you before it is a line on the return.
What you get back
The T2 and its schedules filed with the CRA inside six months of your year-end, GIFI financial statements, your Schedule 8 carried forward for next year, an instalment schedule for the year ahead, and the notice of assessment reviewed when it arrives.
Common Questions
Three Things People Ask
When is my corporate tax return due?
Six months after your fiscal year-end. Any balance owing is due sooner, two or three months after year-end depending on the corporation, and interest runs from that date rather than the filing date. So the return is best prepared well before the filing deadline, not at it, and we track both dates for you.
Do my books need to be done before you can file?
Yes. A T2 is prepared from closed books, not from a bank statement. If we keep your books, year-end is already ready. If you keep them, send the file. Books that have fallen behind are brought current first, at the published catch-up rate of $99 a month of books, quoted before any work begins.
Should I pay myself salary or dividends?
It depends on your income, your RRSP room, CPP, and what the corporation is keeping, and the right mix moves as those numbers do. We model it on your actual figures as remuneration planning, at $125 an hour, and the answer feeds straight into both the T2 and your personal return.