Corporate tax accountant in Toronto and the GTA

A corporation's tax return is only as good as the bookkeeping behind it. Listed accountants on our platform prepare and file T2 returns for Ontario corporations, and use year-end to check that the small business deduction is claimed, expenses are deducted properly and the owner is paid in a sensible way.

Corporate tax filing covers the federal and Ontario T2 return, the financial statements and GIFI schedules that go with it, GST/HST reconciliation and a review of shareholder loans, salary and dividends. You deal with one accountant from the first bank statement to the Notice of Assessment.

T2 returns are also filed for new and inactive corporations, including the first return after incorporation and nil returns for companies with no activity.

How corporate tax filing works

1. 1

   Bookkeeping and financial records

   Everything starts with your records. Receipts, invoices, payroll and bank and credit card statements are reconciled for the full fiscal year, because a corporate return is only as reliable as the books underneath it.

2. 2

   Financial statements

   From clean books your accountant prepares the balance sheet, income statement and supporting notes in the GIFI format the CRA expects, ready to attach to the return.

3. 3

   Tax calculations

   Taxable income is calculated, the small business deduction and available credits are applied, and you are told exactly what is owing before anything is filed.

4. 4

   T2 preparation

   The federal and Ontario T2 return is prepared in full, including the required schedules. You review a plain-language summary and approve it before it is submitted.

5. 5

   CRA filing

   The return is filed electronically with the CRA ahead of the six-month deadline, instalments are set up where they apply, and you keep a complete copy of everything filed.

6. 6

   Notice of Assessment review

   When the Notice of Assessment arrives it is checked against what was filed, and your accountant helps you respond if the CRA asks for anything more.

Corporations we file for

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