What we handle
- T2 corporate income tax returns and Ontario schedules
- Small business deduction and associated-corporation rules
- Salary vs. dividend planning, plus T4 and T5 slips
- Shareholder loan and capital dividend account review
- Holding companies and passive investment income
- Instalment planning and CRA correspondence
- Dormant, inactive and first-year corporations
Year-end documents we usually need
- Bank and credit card statements
- Bookkeeping file or transaction records
- Loan, lease and asset purchase documents
- Payroll summaries and remittances
- HST returns filed for the year
- Prior-year financial statements and T2
We can prepare your year-end financial statements alongside the T2, so the numbers match.
Common questions
When is my T2 due?
Six months after your fiscal year-end. Any balance owing is generally due two months after year-end, or three months for many qualifying Canadian-controlled private corporations.
Should I take salary or dividends?
It depends on your personal income needs, RRSP and CPP goals, corporate income and other factors. We model the options with you each year.
My corporation was inactive. Do I still file?
Generally yes. A T2 is required every year, even with no income or activity.
Can I switch to you from another accountant?
Yes. With your permission, we request the prior-year files and handle the transition.