Corporate Tax Returns
All resident or non-resident corporations have to compulsory file a corporate income tax (T2) return. According to the Canada Revenue Agency, you need to file tax return every year. This is necessary even if there is no tax payable.
What is included in the corporate tax returns?
- Active corporations
- Non-profit organizations
- Tax-exempt corporations
- Inactive corporations
Save Your Taxes Inc. has a team that offers filing services for corporate tax returns to different businesses across Canada. We take the pain to ensure that returns are filed on time. We check that the procedures are completed no later than six months after the end of each tax year. We aim to maximize your deductions and achieve.
Corporations have a tax year as its fiscal period. Below is the return schedule to be taken care of:
- If the corporation’s tax year ends on the last day of the month- The last date to file corporate tax return without penalty is the last day of the sixth month after the end of the tax year.
- If the corporation’s tax year does not end on the last day of the month- The time to file the return is the same day of the sixth month after the end of the tax year. However, in such a case if you owe any amount of money in the form of corporate income tax then tax payments must be made no later than three months after the tax year ends. If you are doing any payment after the period mentioned above, there will be penalties and interest rate charges.
Save Your Taxes Inc. also works on translating accounting financial statements. These are used to file the T2 return. We check that all corporate tax returns and financial statements are prepared according to the GIFI codes. Save Your Taxes Inc. Also Efile the corporate tax returns which reduce the burden to locate the proper Tax Office wherein the corporate tax return can be submitted.
Save Your Taxes Inc.have experienced professionals who have the latest information regarding Tax laws. Thus, we assure you that your company gets the benefit of the small business deduction limit. This way you may have to pay a lower amount of corporate income tax. We also work for filing nil returns in case there is any inactive corporation.
