Corporate Tax Accountants Ottawa Make it Easy

A corporation is a distinct entity.  The corporation operates as an artificial person that exists apart form its owners.  All corporations have to file a corporation income tax (T2) return every tax year even if there is no tax payable.
The corporation’s tax year, also called its fiscal period, is normally declared on its first T2 return after incorporation.  Generally, unless you have received approval to change the tax year, the corporation’s tax year is the same from year to year.
We keep you current on the latest changes impacting your business and we deliver tax solutions that are practical yet creative.
Filing deadline and penalties and interests
Corporation income tax (T2) is due 6 months after your corporation’s fiscal year-end.  Balance owing is due 2 months after the end of your corporation’s fiscal year-end.  A late filing penalty of 5% + 1% will apply to all outstanding balances owing.  Repeated failure to file a corporate income tax return will result in a penalty of 10% + 2% will apply to all outstanding balances owing.  Interest on all outstanding balances owing will be computed at the prescribed rate from the day on which the amount was required to be paid to the day payment is received by CRA.
Services:
▪ Corporate Tax Return preparation (federal and provincial)
▪ Responding to Canada Revenue Agency or other provincial government requests for information
▪ Corporate Tax Audits, Tax Objections and Appeals
▪ Scientific Research and Experimental Development (SR&ED)
▪ Purchase and Sale of Business
▪ Incorporation