Corporations have to pay income tax in monthly or quarterly installments unless the total of Part I, Part VI, Part VI.1, and Part XIII.1 taxes payable for either the previous year or the current year is $3,000 or less. The balance of tax the corporation owes for a tax year is due within either two […]
Archive | Business Taxes
When do you have to file your corporate tax return in Canada?
File your return within six months of the end of each tax year. The tax year of a corporation is its fiscal period. When the corporation’s tax year ends on the last day of a month, file the return by the last day of the sixth month after the end of the tax year. When […]
Corporation income tax return
Canada Corporation income tax return. All resident corporations have to file a corporation income tax (T2) return every tax year even if there is no tax payable. This includes: non-profit organizations tax-exempt corporations inactive corporations Who has to file a T2 return? Resident corporations All corporations—including non-profit organizations, tax-exempt corporations, and inactive corporations—have to file […]