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Corporate Tax Returns

Who has to file a T2 return?

Resident Corporations

All corporations—including non-profit organizations, tax-exempt corporations, and inactive corporations—have to file a T2 return for every tax year, even if there is no tax payable. The only exception to this rule is a corporation that was a registered charity throughout the year.

Non-Resident Corporations

A non-resident corporation may be subject to Canadian income tax if, at any time in the year, one of the following situations applies:

  • it carried on business in Canada;
  • it had a taxable capital gain; or
  • it disposed of taxable Canadian property.

A non-resident corporation has to file a return in a number of situations, including: 

  • when it has to pay Part I tax in the current year or would have to pay it except for a tax treaty;
  • when it has made an election to pay Part I tax on the net amount of timber royalty income or rental income from real property under subsection 216(4);
  • when a corporation is subject to tax under Part XIV (known as branch tax); or
  • when it has made an election to pay Part I tax on the net amount of acting services under subsection 216.1(1).

Why should you allow us to do your T2 tax return?
Stefanizzi Professional Corporation has been completing corporate tax returns for over 25 years.  The knowledge gained and passed down each year continues to strengthen the firm's ability to do T2 returns accuractely and quickly, the priority always being our client's best interest. The firm has invested thousands of dollars over the years to keep current with the some of the most advanced software available. This software combined with up-to-date knowledge gained through continuous training and experience allows Stefanizzi Professional Corporation to provide this most valuable service to our clients.

Our clients have been faithful to us for years, affording us the opportunity to take care of their corporate tax needs. We, in turn, put our client's best interests first - always searching for the best financial outcome.