Corporate Tax Return (T2)
We prepare and file T2 corporate income tax returns for Canadian corporations, ensuring full CRA compliance while minimizing your tax liability. Our team handles everything from financial statement preparation to identifying all eligible deductions, credits, and tax deferrals specific to your industry.
Key Benefits
Minimize Corporate Tax
Strategic tax planning to ensure your corporation pays the least amount of tax legally possible.
Full CRA Compliance
Accurate filing that meets all CRA requirements and deadlines, avoiding penalties and audits.
SR&ED Credits
We identify and claim Scientific Research & Experimental Development credits where applicable.
Year-Round Support
Our team is available throughout the year, not just at tax time.
Frequently Asked Questions
When is the T2 filing deadline?
The T2 return is due 6 months after your fiscal year end. Taxes owing are due 2 or 3 months after the fiscal year end depending on your corporation type.
Do I need audited financial statements?
Most small and medium businesses do not require audited statements for tax purposes. We work with your existing bookkeeping records.
What if my corporation has not been active?
Inactive or dormant corporations must still file a T2 return each year. We handle these at a reduced fee.
What is this service?
A T2 corporate income tax return reports a Canadian corporation's taxable income and calculates the tax it owes to the CRA. Every resident corporation — including dormant and non-profit ones — must file a T2 each year, even if it had no income. Accountants Online prepares T2 returns and supporting financial statements for corporations across Canada, fully online.
Who needs this service?
All resident corporations must file a T2 annually, even inactive or tax-exempt ones (most tax-exempt non-profits file a short return unless registered as a charity). Non-resident corporations that carried on business in Canada or disposed of taxable Canadian property must also file. If your business is incorporated federally or provincially, a T2 is required for every tax year.
What documents are required?
- Articles of incorporation and share structure
- Financial statements: income statement and balance sheet
- General ledger and bank statements for the fiscal year
- Asset purchase invoices for capital cost allowance (CCA) claims
- Payroll records, dividends paid (T5 slips filed), and related-party transactions
- Prior-year T2 return and Notice of Assessment
Key deadlines
The T2 return is due within 6 months after the end of the corporation's tax year. The balance of tax owing is due 2 months after year end, or 3 months after year end for a Canadian-controlled private corporation claiming the small business deduction with taxable income of $500,000 or less.
Common mistakes to avoid
Missing the filing deadline (a 5% penalty on unpaid tax plus 1% per full month, up to 12 months), assuming dormant corporations don't need to file, bookkeeping that is too incomplete to prepare statements, missed CCA claims, and failing to file T5 slips when shareholder dividends are paid.
How to get started
Book a free 15-minute consultation. We'll review your situation, tell you exactly what we need, and give you a flat-rate quote before any work begins. Everything is handled online through your secure client portal.
Get started — request a consultation