Canadian Corporate income tax return: T2
Planning and implementing are the backbone of effective business tax tactics. The RKB approach begins with a robust inquiry, understanding, and rigorous tax planning and evaluation of potential strategies. Proceeding this, our team continues with constant monitoring of the tactic.
Domestic Corporations Every company, whether incorporated federally, provincially in Canada or a corporation resident in Canada, must file a corporate income tax return after its fiscal year-end.
We include in our checklist which we think are generally important, and we will review them specifically:
Every corporation, either registered federally or in Ontario, needs to file an Annual report every year, which is different from your T2 Corporate Income Tax return. A corporation registered in Quebec files an Annual declaration/report every year with the QBCA.
Canada’s domestic tax laws require a non-resident to file and pay tax on any income they earn from carrying on a business in Canada.
A non-Canadian corporation that was not resident in Canada at any time in the taxation year is subject to tax under section 219 of Canada’s Income-tax Act.
If the principal business of a corporation throughout the world is the transportation of persons or goods or communications, it is exempt from tax under section 219 regardless of the nature of its Canadian business. However, in the case of a corporation mining iron ore in Canada, its operation of that nature in Canada must be its principal business throughout the world if it is to qualify for exemption under section 219.
If a non-resident corporation was involved in a business in Canada or sold a taxable Canadian property in the tax year, the non-resident corporation must file a T2 return with the Canada Revenue Agency (CRA). The non-resident corporation must file a T2 even if the profit/gain realized is exempt from Canadian tax under a tax treaty.
Our Services includes:
We are Authorized CRA e-file providers and can file your corporate tax returns electronically for faster processing. We file corporate income taxes for our clients in Ontario and Quebec.
We provide services for corporate tax filing in Woodbridge, Vaughan. We also serve North York, Toronto, Richmond Hill, Scarborough, North York, Mississauga, Oakville, Hamilton, Brampton, all over Ontario and Quebec. Our virtual and cloud-based tax filing services are available all over Canada.