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Corporate Tax Return Canada – T2 Checklist

Use this checklist to organize your financial information for your Corporate Tax Return Canada. Complete and send it to us along with your financial documents.

Who Must File a Corporation Income Tax Return (T2)

Resident Corporations

All resident corporations, except tax-exempt Crown corporations, Hutterite colonies, and registered charities, must file a T2 return each tax year, even when no tax is payable. This includes:

Non-Profit Organizations
Tax-Exempt Corporations
Inactive Corporations

Non-Resident Corporations

A non-resident corporation must file a T2 return if, during the year, it:

Carried on business in Canada
Had a taxable capital gain
Disposed of taxable Canadian property

This rule applies even if the corporation claims tax exemption through a tax treaty.

Determining Your Corporation’s Tax Year

A corporation’s tax year equals its fiscal period, which cannot exceed 53 weeks (371 days).

New Corporations

Declare your tax year on your first T2 return after incorporation. Ensure your attached financial statements or General Index of Financial Information (GIFI) match the tax year on the return.

Tax Year Start

For the first T2 return, the start date is your incorporation date. In future returns, the start date is the day after your previous tax year-end.

When to File Your Corporate Tax Return Canada

File your T2 return within six months after your fiscal year ends.

If your tax year ends on the last day of a month, file by the last day of the sixth month after that.
If it ends mid-month, file by the same calendar day six months later.

When and How to Pay Income Tax

Corporations must pay income tax in monthly or quarterly instalments, unless total payable taxes (Part I, Part VI, Part VI.1, and Part XIII.1) for the previous or current year are $3,000 or less.

Pay the remaining balance within two or three months after your tax year-end, depending on your corporation type.

To avoid interest and penalties, make instalment and final payments before their due dates.

Balance-Due Day

Generally, corporations must pay all taxes (except Part III and Part XII.6) within two months of their tax year-end.

The due date extends to three months if:

The corporation is a Canadian-Controlled Private Corporation (CCPC) throughout the tax year, and
It claims or qualifies for the Small Business Deduction (SBD) for the current or previous tax year, and
- Its taxable income does not exceed its business limit, or
- The combined taxable incomes of associated corporations stay within their business limits.

Penalties for Late Filing

If you file late, a penalty applies:
5% of the unpaid tax due on the filing date, plus 1% for each complete month late (up to 12 months).

If CRA issues a demand to file and the corporation has a prior late-filing penalty within three years, the penalty increases to 10% of unpaid tax, plus 2% for each month (up to 20 months).

How It Works

Process of Online Income Tax Return Filing with TaxReturnFilers eCPA

Download the Checklist and answer a few basic questions.
Fill out the form with the required details.
Upload the completed checklist from your system.
Make the payment.
Our advisor files your return.

Step-by-Step Guide

1. Enter Details & Make Payment

Provide your contact details and pay our fees.
A Tax Planning Specialist will be assigned to your case.

2. Advisor Consultation

Your advisor will call or email you to understand your tax situation.

3. Analysis and Filing

We will:

Review your previous year’s tax return for overpaid taxes.
Ensure all available credits and deductions are claimed.
Assess your business structure for tax efficiency.

4. Tax Planning and Filing

Our advisor prepares your Tax Planning Report, suggests deductions to reduce your taxes, and files your return.
We’ll remind you in early March to file once your T-Slips arrive.

Why Choose Us

Canada’s leading tax filing platform
Authorized by the Canada Revenue Agency (CRA)
T2 filing completed in under a day
Trusted by Canadians nationwide

FAQ – Frequently Asked Questions

After Payment, How Does the Tax Return Filing Process Begin?

After you make the payment, upload your documents through the dashboard.
The assigned expert’s contact details appear there.
You can reach our team anytime if you need assistance.

What Is the Difference Between Basic, Multiple T-Slips, and Capital Gains Filing?

Basic Tax Return Filing:
For residents earning from salary, rental property, or investments with T3/T5 slips. Choose this if you have a straightforward return.

Multiple T4s and T5s:
If you worked for multiple employers during the year and received several T4s, file a return for multiple slips.

Capital Gains Filing:
If you earned profits or losses from selling shares, mutual funds, property, or jewelry, file a Capital Gains return.

What Documents Do I Need for Capital Gains Tax Return Filing?

Keep these documents ready:

Broker statements
Proof of tax withheld on property sales
Investment records
Expense proofs related to tax savings

How Long Can I Use eAdvisor-Assisted Services After Payment?

Your payment covers services for one full financial year.
You can repurchase the service annually.
Our experts assist you throughout the year with questions about your filed return