Stefanizzi Professional Corporation has been completing corporate tax returns for over 25 years.
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.
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
- 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)
- when it has made an election to pay Part I tax on the net amount of acting services under subsection 216.1(1)
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 our corporation to provide the 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.
Corporations have different rules than personal tax filers. For example, a corporate tax return should be filed no later than six months after its 'fiscal year end'. A corporation with a fiscal year end of February 28th would be required to file their corporate tax return no later than August 31.
- T5 information must be submitted prior to March 1st (this should be last day of February)
- T4 information must be submitted prior to February 28th (this should be last day of February as some years it’s February 29th)
To find out more specifically what dates apply to your corporation, please visit the Canada Revenue Agency website at:Click here to visit the CRA website regarding Corporate Filing