Corporate tax returns

Under the Income Tax Act, all corporations have to file a T2 or T2 Short corporation tax return, even if there is no tax payable. This includes non-profit organizations, tax-exempt corporations and inactive corporations. The only exception to this rule is a corporation that was a registered charity throughout the year.

Corporate income tax returns are due six months after the fiscal year.

For corporations claiming the small business deduction, the balance of the corporation tax payable is due on the last day of the third following month.

How we file

Most corporations can file their return electronically using the Internet. We use CRA-approved software that has been certified for Corporation Internet Filing.

If electronic filing is not feasible, we can also use one of three formats to file your paper return by mail or in person.

1. Using CRA preprinted returns
   There are two different types of returns:
• The T2 Corporation Income Tax Return has eight pages. Any corporation can use it.
• The T2 Short return is a simpler version of the T2 Corporation Income Tax Return.


2. Using T2 RSI Return and Schedule Information
   This is the format for computer-printed returns produced by tax preparation software.



3. Using facsimile returns
   These returns (which are not to be confused with a client's copy produced by a CRA-approved software) are exact copies of CRA's T2 return. They have to meet standards of format, legibility, and paper quality. However, they can be printed on separate pages, instead of on the back and the front of each sheet.

You can trust FPA with the preparation of your income tax return.