Corporate Tax Filing Services: T2 Returns and Tax Planning
T2 corporate tax returns prepared and filed on time by a CPA-led team, with planning that keeps more of your profit in the business.
Corporate Tax Return Preparation for Canadian Corporations
Every Canadian corporation must file a T2 corporate income tax return each year, even with no income and no tax owing. The return is due six months after your fiscal year-end, but any balance owing is generally due two months after year-end. Many Canadian-controlled private corporations get three months if they meet certain conditions. Miss either date and you face late-filing penalties and interest.
As your corporate tax accountant, we prepare and file your T2 and all its schedules, including the GIFI financial statements, the small business deduction claim, capital cost allowance and the Ontario corporation tax schedules (Schedule 500 and related). We also prepare T5 slips for dividends paid to shareholders and set up your corporate tax instalments if you need them.
Good corporate tax filing services look ahead, not just back. We help you plan the mix of salary and dividends, time large purchases and use the credits available to you. Clean monthly bookkeeping keeps the year-end quick and inexpensive. For background, read The T2 Tax Return in Canada: A Founder’s Guide.
What Our Corporate Tax Services Include
Year-end compliance and year-round planning for incorporated businesses and holding companies.
How Our T2 Filing Process Works
Year-End Checklist
We send a short checklist covering bank statements, loans, asset purchases and shareholder transactions.
Review and Adjust
We review the books, post year-end adjustments and prepare the financial statements.
Planning Review
We go over the results with you, including owner pay, dividends and tax owing, before we file.
File and Confirm
We e-file the T2, send your copies and diarize next year’s deadlines and instalments.
Why Business Owners Choose Targeted Accounting
- CPA-led team: every file is reviewed by an accounting manager, not just a junior bookkeeper
- Cloud-first: QuickBooks Online, Xero, Wagepoint, Hubdoc, Dext and Plooto
- Based in downtown Toronto, serving businesses across Canada remotely
- One team for bookkeeping, payroll, tax and advisory, so nothing falls between providers
- Clear monthly deadlines and a named contact who knows your file
Frequently Asked Questions
The T2 is the Corporation Income Tax Return that every resident corporation in Canada must file with the CRA each tax year. It reports the corporation’s income, deductions and credits and calculates federal and provincial corporate tax.
The T2 is due six months after the end of the corporation’s tax year. Any balance owing is generally due two months after year-end, or three months for many Canadian-controlled private corporations claiming the small business deduction. See our business tax filing calendar.
If tax is owing, the CRA charges a late-filing penalty of 5% of the unpaid tax plus 1% for each full month the return is late, up to 12 months, with higher penalties for repeat late filing. Interest also applies to unpaid balances.
Yes. A corporation must file a T2 every year it exists, even when it is inactive or has no tax payable. We file nil and inactive returns as well.
Canadian-controlled private corporations can claim the small business deduction on up to $500,000 of active business income, which significantly reduces the corporate tax rate on that income. In Ontario, the combined federal and provincial rate on that income is 11.2%: 9% federal plus 2.2% Ontario, after Ontario cut its small business rate from 3.2% on July 1, 2026.
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Bookkeeping, payroll, tax and CFO support from one CPA-led team, with your books kept accurate and your filings on time
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