With our new accounting team on board, Total Accounting & Financial Services, we can now offer preparation and corporate tax filing services for all types of businesses and ensure that all the business needs of our clients are satisfied. Our tax professionals are available to provide assistance in dealing with corporate tax requirements for any business and making sure that you pay the least taxes possible and get the maximum possible refund. All corporations have to file a T2 Corporation tax return. Only registered charities throughout the year are exempt.
The return needs to be filed within six months of the end of each fiscal year. When the T2 filing deadline falls on a Saturday, Sunday, or statutory holiday, Canada Revenue Agency will consider the return filed on time if it is delivered, mailed, or transmitted on the first business day after the filing deadline. If the T2 return is mailed by either express or an equivalent delivery service, Canada Revenue Agency will consider the date of the postmark when determining if the return was filed on time. Penalties apply if the return is filed late. The penalty for filing late is 5% of the tax balance owing on the filing deadline, plus an additional 1% of the unpaid tax for each complete month that the return is late, up to a maximum of 12 months.
Our highly trained corporate tax professionals are always up-to-date on all the latest tax laws so we are able to deliver the best options and solutions for your business. Whether you are filing for self-employed income tax returns, corporate tax returns, handling your HST filing, and capital gains issues, we’re here to take care of all your needs so you can focus on what matters the most in building your business.
We offer all our prospective clients, a no commitment, no cost, free consultation. We will leave no questions unanswered!