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T2 · Financial statements
Corporate tax and year-end
We prepare your company's year-end financial statements and T2 return, and go through the results with you before anything is filed.
At a glance
| T2 return | 6 months after year-end |
|---|---|
| Tax owing | 2–3 months after year-end |
| Instalments | When tax owing is over $3,000 |
| No activity this year | Still file a T2 |
What's included
- Year-end adjustments, including capital cost allowance and shareholder accounts
- Year-end financial statements: balance sheet and income statement
- The T2 return and its schedules, including the GIFI financial data
- The small business deduction and other claims your company qualifies for
- Electronic filing with the CRA
- A walk-through of the results, the tax owing and any instalments
Who it's for
- Operating businesses
- Real estate companies
- Holding and investment companies
- Companies with subsidiaries outside Canada (see foreign property reporting)
What we'll need from you
- Bank, credit card and loan statements for the year
- Last year's financial statements and T2, if there are any
- Sales records, receipts and invoices
- Details of assets bought or sold
- Any changes to shareholders or shares
Good to know
When is my T2 due?
Six months after your company's year-end. Tax owing is usually due two months after year-end, or three months for many small Canadian-controlled private corporations.
My company had no activity this year. Do I still file?
Yes. Every corporation has to file a T2 for every tax year, even with no income and no tax to pay.
Our books aren't done. Can you still do the year-end?
Yes. We build the books from your bank statements and receipts first, then prepare the financial statements and the return.
Book a consultation
Leave your details and what you need, and a professional accountant will contact you.
Please don't send tax documents or your SIN here. Once we've agreed on the work, we'll send you a secure upload link.
Other services
BookkeepingMonthly or quarterly books kept from your bank statements and receipts, ready when tax time comes.GST/HSTRegistration, returns and reconciliation, so your sales tax matches your books.Personal taxT1 returns for employees, the self-employed, landlords and investors.Foreign property reportingT1134 for foreign affiliates and T1135 for foreign property, with amounts converted at Bank of Canada rates.
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