Corporate Tax Return Filing Services

Trusted Expertise for Corporate Tax Compliance

Filing corporate taxes in Canada is more than just filling out forms. It’s about accuracy, timing, and understanding every update in tax legislation. At Bestax, we make the entire corporate tax filing process seamless so your business stays fully compliant with the Canada Revenue Agency (CRA).Whether you operate a small business or a growing enterprise, our team handles your corporate income tax filing from start to finish.

Why Choose Bestax?

• Complete Services: From keeping your company records to tax filing, we handle all aspects of your needs.​
• Accounting and Bookkeeping Services: Having accurate and detailed reporting to meet CRA standards is really important. 
• Timely Compliance: We ensure adherence to the deadlines, helping you avoid penalties and maintain good standing.​
• Customized Solutions: Our approach to tax filing for corporations is customized to fit your business structure and industry requirements.​
• Expert Guidance: Stay informed about your corporate tax obligations with our dedicated support, ensuring full compliance.​
  

Our Corporate Tax Services

• Corporate Tax Return Documentation: Comprehensive preparation and organization of all necessary documents.​
  
• Corporate Income Tax Submission: Efficient electronic filing to streamline the process.​
  
• Company Tax Return: Complete handling of your company’s annual tax return.​
  
• Annual Corporate Tax Filing: Ensuring your yearly filings are accurate and on time.

Who Needs to File a Corporate Tax Return?

All Canadian resident corporations must file a corporate income tax return (T2) every year, even if there’s no tax payable. This includes:

• Active for-profit companies
  
• Inactive or dormant corporations
  
• Non-profits and tax-exempt corporations
  

All non resident corporations must file if they operate a business in Canada, sell Canadian property, or realize capital gains, regardless of tax treaty exemptions.

Corporate Tax Return Deadlines

You must file your corporate income tax submission within six months after your fiscal year-end.

Examples:

• Year-end Feb 28 → File by Aug 31
  
• Year-end May 31 → File by Nov 30
  
• Year-end June 14 → File by Dec 14
  

If your deadline lands on a weekend or holiday, your business tax filing is due the next business day.

When Are Corporate Taxes Due?

Payment is typically due within 2 months after year-end.
However, Canadian-controlled private corporations (CCPCs) that claim the small business deduction get an extended 3-month window, if:

• Taxable income last year was under $500,000
  
• The corporation isn’t associated with others, or total income of all associated companies remains below the combined limit

If you owed more than $3,000 in either of the past two tax years, CRA requires corporate tax instalments, not optional.

What Are the CRA Filing Requirements?

The CRA offers two types of returns:

• T2 Corporation Income Tax Return – Full 9-page return for any corporation
• T2 Short Return – 2-page version plus one schedule (eligibility depends on your structure)

Refer to Guide T4012 – T2 Corporation Income Tax Guide to determine which form applies to your company.

For tax years starting after January 1, 2024, nearly all corporations must file their returns electronically. Exceptions apply to:

• Insurance corporations
  
• Non-resident corporations
  
• Corporations reporting in a functional currency
  
• Corporations exempt under Section 149 of the Income Tax Act

Failure to file electronically when required results in a $1,000 penalty. At Bestax, we ensure your return is submitted correctly and electronically to avoid this.

CRA Capital Gains & Filing Updates – 2025

As of March 21, 2025, the Government of Canada:

• Will not increase the capital gains inclusion rate (remains at 50%)
  
• Will proceed with raising the Lifetime Capital Gains Exemption to $1,250,000 for small business shares and eligible farming/fishing property

CRA systems have been updated to reflect these rules. Impacted tax software has been certified, and affected corporate tax returns can now be submitted without delay.

CRA Penalty Relief:

• T1 Individual filers: No late-filing penalties or interest if filed by June 2, 2025
  
• T3 Trust filers (including Schedule 15): Relief until May 1, 2025

What You Need to File

Accurate corporate tax return documentation is critical. You’ll need:

• Trial Balance
  
• General Ledger
  
• Bank & Credit Card Reconciliations
  
• A/R and A/P Aging Reports
  
• Fixed Asset Continuity Schedules

We also handle compliance with recordkeeping rules. Corporations must retain records for 6 years, covering all financial transactions, expenses, and capital assets.

Required Tax Schedules We Prepare

We file every CRA-mandated schedule for complete corporate tax reporting, including:

• Schedule 100 – Balance Sheet (GIFI)
  
• Schedule 125 – Income Statement (GIFI)
  
• Schedule 141 – Notes Checklist
  
• Schedule 1 – Net Income for Tax Purposes
  
• Schedule 3 – Dividends Received/Paid
  
• Schedule 4 – Loss Continuity
  
• Schedule 8 – Capital Cost Allowance
  
• Schedule 50 – Shareholder Information (if ≥10% held)

Can You File Your Own Corporate Tax Return?

Technically, yes. You can complete your own corporate income tax submission—but it’s risky. The T2 return is complex, and misfiling can result in:

• Missed deductions
  
• Incorrect income reporting
  
• CRA penalties
  
• Potential audits

Unless you’re well-versed in Canadian tax law and corporate accounting, we recommend professional filing through Bestax. It saves time, prevents costly errors, and ensures your company tax return meets every CRA requirement.

The Bestax Filing Process

1. Initial Consultation – We assess your business structure
   
2. Document Review – Collect and review your records
   
3. Return Preparation – Complete forms, schedules, and reconciliation
   
4. Electronic Submission – Fully compliant e-filing with the CRA
   
5. Ongoing Support – Reminders, instalment planning, and audit-ready records

Let Bestax File Your Corporate Tax Return

We understand every detail of tax returns for Canadian corporations. Bestax offers end-to-end service, from initial prep to CRA submission and post-filing support.

Avoid penalties. Maximize tax strategies. Meet every deadline.

Frequently Asked Questions (FAQs)