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Corporate tax returns for small Ontario corporations
We prepare T2 corporate income tax returns and the year-end financial statements that go with them for small Ontario corporations, including holding companies and corporations that had no activity during the year.
What's included
- T2 return with all required schedules and the GIFI financial data
- Year-end financial statements prepared from your books
- Shareholder loan and owner pay review before year-end
- Salary versus dividend planning for the owner
- T5 slips for dividends paid
- Returns for inactive or nil corporations
Who it's for
Owner-managed corporations: contractors, trucking companies, retailers, consultants and holding companies.
Common questions
When is a corporate tax return due?
A T2 return is due six months after the corporation's year-end. Any tax owing is generally due two months after year-end, or three months for many Canadian-controlled private corporations that claim the small business deduction.
My corporation had no income this year. Do I still need to file?
Yes. Every resident corporation must file a T2 return for every tax year, even if it was inactive or had no tax to pay.
Should I pay myself a salary or dividends?
It depends on your income, your RRSP and CPP plans, and how much the corporation earns. We run both options with your numbers before year-end so you can choose.
Have a question about your taxes or books?
Call or send a short note. We reply within one business day.