📌 T2 filing deadline for most corporations with a December 31 year-end is June 30, 2026. Tax owing is due March 31, 2026.

What is a T2 Corporate Tax Return?

The T2 Corporation Income Tax Return is the annual tax filing required for all incorporated businesses in Canada. Every corporation — regardless of size or whether it earned a profit — must file a T2 return each year with the CRA.

Asim Nazir CPA Professional Corporation provides expert T2 corporate tax preparation for small and medium-sized businesses across Mississauga, Toronto, Brampton, Oakville, Vaughan, and the GTA.

Who Must File a T2 Return?

Canadian-controlled private corporations (CCPCs)
Professional corporations (doctors, lawyers, dentists, accountants)
Small and medium businesses incorporated in Ontario or federally
Holding companies and investment corporations
Non-profit corporations

Key Corporate Tax Deductions We Maximize

Small Business Deduction — reduces federal tax to 9% on first $500,000 of active business income
Capital Cost Allowance (CCA) on equipment, vehicles, and computers
Salaries and wages paid to employees and family members
Home office expenses claimed through the corporation
Professional fees and business expenses
Scientific Research and Experimental Development (SR&ED) credits
Ontario small business tax credits

Salary vs. Dividends Planning

One of the most valuable services we provide is helping business owners determine the optimal mix of salary and dividends. This decision has significant tax implications for both the corporation and the individual owner. Our CPA team analyzes your specific situation and recommends the most tax-efficient compensation structure.

Corporate Tax Deadlines

Filing deadline: 6 months after the corporation's fiscal year-end
Payment deadline: 2-3 months after fiscal year-end (balance of taxes owing)
Installment payments: required quarterly if previous year taxes exceeded $3,000

Frequently Asked Questions

How much does a T2 corporate tax return cost?

Corporate tax return fees depend on the complexity of your business, number of transactions, and whether financial statements need to be prepared. Contact us for a free quote tailored to your business.

Do I need to file a T2 if my corporation had no income?

Yes. All Canadian corporations must file a T2 return every year regardless of whether they had income, broke even, or incurred a loss. Failure to file results in penalties.

Can you prepare my financial statements as well?

Yes — we prepare complete financial statements (income statement, balance sheet, statement of retained earnings) as part of our corporate tax package.

What is the Small Business Deduction?

The Small Business Deduction reduces the federal corporate tax rate from 15% to 9% on the first $500,000 of active business income for Canadian-controlled private corporations. This is one of the most valuable tax advantages available to incorporated small businesses in Canada.

Our Other Services

Asim Nazir CPA Professional Corporation offers a full range of accounting and tax services across Mississauga and the GTA.

📄Personal Tax (T1) 🏢Corporate Tax (T2) 📚Bookkeeping 💰Payroll Services 📋GST/HST Filing 📊Financial Statements 🛡️WSIB Returns 🔍CRA Audit Assistance

Ready to Get Started?

Contact Asim Nazir CPA Professional Corporation today for a free consultation. We serve Mississauga, Toronto, Brampton, Oakville, Vaughan and the entire GTA.

Book Free Consultation Call 905-699-4750

Corporate Tax Returns (T2) in Mississauga