Ruby Tax prepares corporate (T2) tax returns from $400 for Ontario and Canadian corporations, including federal and provincial filing, notice-to-reader financial statements and the year-end cleanup that goes with them. The fee is flat and agreed in writing before work starts.
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.
Common questions about corporate tax returns
How much does a corporate tax return cost in Ontario?
A straightforward T2 return at Ruby Tax starts at $400. The final price depends on whether your bookkeeping is current, how many accounts there are, and whether you need notice-to-reader financial statements. You are quoted a flat fee before any work begins.
When is a T2 corporate return due in Canada?
A T2 return is due six months after the corporation’s fiscal year end. Any balance of tax owing is generally due two or three months after year end depending on the corporation, so the payment deadline usually falls before the filing deadline.
Does my corporation have to file a return if it had no income?
Yes. A Canadian corporation must file a T2 return for every tax year even if it was inactive or earned nothing. Nil returns still have to be filed, and penalties accrue if they are not.
My books are a mess. Can you still do the year end?
Yes, and it is common. Year-end cleanup is part of the work. If the books need rebuilding before the return can be prepared we say so up front and quote that separately, so there is no surprise on the invoice.
Related services
Also see HST return filing, monthly bookkeeping to keep year end simple, and incorporation and business setup if you are not yet incorporated.