Every incorporated business in Ontario has to file a T2 corporate return within six months of its fiscal year end, even in a year with no income. We handle the return, the financial statements that go with it, and the bookkeeping cleanup most files need before either one can be prepared.
What’s included
- Federal T2 and Ontario corporate return
- Notice-to-reader financial statements
- GIFI schedules
- Shareholder loan and dividend review
- T4 and T5 slips where required
- Instalment calculations for the coming year
- CRA correspondence on anything arising from the return
What it costs
Straightforward corporate returns start at $400. The variables are how current your bookkeeping is, the number of accounts, and whether there is payroll or multiple shareholders. You get a fixed quote in writing before any work starts, so the invoice never surprises you.
If you are behind on filing
Late T2 filing carries a penalty of 5% of the balance owing plus 1% per month, and it climbs for repeat late filers. If you have unfiled years, filing them voluntarily puts you in a better position than waiting for CRA to assess you. We handle multi-year catch-ups regularly and it is far more common than most owners assume.
Get your T2 quoted
Tell us your fiscal year end and the state of your books, and we will come back with a fixed price within one business day. Call 647-990-7258 or email raj@rubytax.ca.