Staying current
T2 returns and year-end, done properly and on time.
Your corporation’s annual T2 return and financial statements, prepared from books that actually reconcile, with the shareholder loan and dividends lined up with what you personally reported.
What’s included
- Year-end adjustments and closing
- Year-end financial statements
- Federal and provincial T2 return with GIFI schedules
- Small business deduction review
- Shareholder loan and dividend reconciliation
- T5 slips for dividends paid
- Filing and payment deadline tracking
- Answers to CRA follow-up questions, where we’re authorized
Income tax filings for owners are available as an add-on, so the corporate and personal sides can be prepared together.
Missed earlier years?
A T2 can’t be right if last year’s isn’t filed.
Each return starts from the previous year’s closing balances. If earlier years are outstanding, they’re caught up first, starting with the oldest.
Catch-up & clean-upHow it works
Close the books
The year’s bookkeeping is reviewed, reconciled and closed, with year-end adjustments made.
Prepare and review
Financial statements and the T2 are prepared, then reviewed with you before anything is filed.
File and plan ahead
The return is filed, any balance owing is confirmed, and the coming year’s planning starts with current numbers.
Corporate tax questions
Related guides
Does a corporation have to file a T2 if it made no money?
Yes. Every resident corporation, including an inactive one, has to file a T2 return for every tax year, even when no tax is owing. Registered charities and a few other bodies are the exceptions.
When is the T2 due, and when is the tax due?
The return is due six months after your fiscal year-end. Any balance owing is due sooner: two months after year-end, or three months for many Canadian-controlled private corporations that claim the small business deduction.
CRA assessed a year we never filed. What now?
That’s usually a notional assessment, based on CRA’s own estimate of your income, which rarely reflects your expenses. Filing the actual return is how you replace it, as long as you act in time. Our notional assessment guide explains the process.
Can you do the owners’ personal returns too?
Yes, as an add-on. Preparing the corporate and personal returns together keeps salary, dividends and the shareholder loan consistent on both sides.
Is it different for an Alberta corporation?
Yes. Unless it qualifies for an exemption, an Alberta corporation also files an AT1 return with Alberta, on top of the federal T2, and a catch-up has to bring both up to date.
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