Corporate Tax Filing in Toronto: T2 Return Help

Every corporation resident in Canada generally has to file a T2 corporation income tax return for each tax year, including years with no income. Toronto Tax & Accounting Solutions Inc. prepares and e-files T2 returns for small and medium-sized corporations in Toronto and the GTA, and remotely across Canada except Quebec. Before we start, we check what records you have, explain any additional records or services needed before work begins, and confirm the fee.

Ask for a T2 quote or call (437) 410-7999.

200+ five-star Google reviews. CRA-authorized electronic filer. Starting fees: T2 from $499 for an active corporation, from $250 for a nil return (per tax year, before HST).

T2 fees and what they include

• Active corporation: from $499 before HST per tax year. Includes preparation of the T2 tax documents, e-filing, and guidance on what information to provide.
• Nil return: from $250 before HST per tax year, subject to assessing the corporation's circumstances.
• Records not yet prepared: organizing them costs extra depending on volume, and we quote that before starting.

This is T2 tax return preparation and e-filing. It is not an audit or review engagement, and it does not include a CPA compilation report. See what a T2 return costs in Toronto, or read about incorporating your business in Ontario.

Getting ready for your 2026 corporate year-end

If your corporation has a December 31, 2026 year-end, start organizing its records before the year closes. If your fiscal year ends in another month, use your own year-end date. We help Toronto and GTA business owners prepare their books and records for a T2 quote, with in-person service in Scarborough or remote service across Canada except Quebec.

• Check your bookkeeping: identify missing statements, unreconciled accounts and transactions that need an explanation.
• List changes during the year: assets bought or sold, loans, shareholder transactions, payroll and dividends.
• Tell us what is ready: your fiscal year-end, whether financial statements are available, and any unfiled years or CRA letters.

Request a corporate year-end and T2 quote. We confirm the scope and fee in writing before starting. Bookkeeping, financial statement preparation and other filings are quoted separately from T2 preparation. Use the downloadable records tracker below to organize what is ready and what is missing.

Who oversees your corporate tax file?

Toronto Tax & Accounting Solutions Inc. is an owner-operated firm. Behroz Rizvi, owner and director, advises clients directly and oversees every file. The firm has operated since 2022 and works with clients in English, Urdu and Punjabi. Meet the owner and learn about our Scarborough office.

What a T2 return usually involves

A T2 is more than one form. For a typical owner-managed corporation, the work includes:

• Year-end financial information: a balance sheet and income statement, reported to the CRA in the General Index of Financial Information (GIFI) format.
• Reconciling accounting income to taxable income: adjusting for items such as non-deductible expenses, the non-deductible part of meals and entertainment, and amortization.
• Capital cost allowance on equipment, vehicles, computers and other capital assets bought or sold in the year.
• Small business deduction calculations, where the corporation qualifies.
• Shareholder and related-party information, including shareholder loan balances and dividends paid.
• Ontario schedules for a corporation with a permanent establishment in Ontario.
• Electronic filing with CRA-certified software after you sign Form T183CORP.

The CRA's T2 Corporation – Income Tax Guide (T4012) explains each part in detail. Our T2 corporate tax return guide gives a plain-language overview.

T2 document checklist

Corporate information

• Business number and corporation name as registered
• Articles of incorporation and any amendments
• Names, addresses and share percentages of all shareholders
• Last year's T2 return, notice of assessment and financial statements (if another preparer filed them)

Financial records for the full fiscal year

• All business bank, credit card, line of credit and loan statements
• Bookkeeping file (for example, a QuickBooks file) or a trial balance, if you keep books
• Sales invoices and records of all revenue
• Purchase receipts and bills
• Accounts receivable and payable at year-end
• Inventory count at year-end, if you carry inventory

Other filings and events

• GST/HST returns filed for the period
• Payroll summaries, T4 summary, and any T5 slips for dividends
• Invoices for assets bought and details of assets sold
• Loan agreements, leases and vehicle details
• Any CRA letters, instalment reminders or payments made during the year

Corporate year-end records tracker

What your corporation needs for year-end: bank, credit card and loan statements for the full fiscal year, sales and purchase records, GST/HST filings, payroll summaries, details of assets bought or sold, shareholder-loan activity, last year's T2 and financial statements, and any CRA correspondence. Having these together before we start is the biggest factor in how quickly your T2 can be prepared.

Download the tracker

• Corporate T2 year-end records tracker (Excel, 168 KB): track each record as Not requested, Requested, Received or Needs follow-up, with an automatic list of missing items.
• Printable corporate T2 records checklist (PDF, 1 page)

Before you send documents: Do not email banking credentials or passwords. For SINs, employee tax information, and full tax slips, contact us first for instructions on the safest way to send documents.

If your books are not up to date, we can complete a bookkeeping cleanup first. Our T2 corporate tax return guide explains the return in more detail.

Need a T2 quote? Contact Toronto Tax & Accounting Solutions or call (437) 410-7999 with your year-end date and a short description of your records.

What affects the cost of a corporate tax return

We quote each T2 after we see the records, because two corporations with similar revenue can need very different amounts of work. The main factors are:

• Condition of the books. Reconciled books are easier to work with. Bank statements only, or books that have not been reconciled, mean bookkeeping must be done first. It is charged as a separate service and agreed in writing before work begins.
• Whether you need financial statements prepared. T2 preparation and financial statement preparation are separate pieces of work.
• Transaction volume and the number of bank and credit card accounts.
• Activity level. An inactive corporation with no income or expenses takes less work than an operating business.
• Assets and financing: vehicles, equipment, property, loans and leases.
• Owner pay: salary, dividends, or shareholder loan balances that need review.
• Related filings: payroll slips, T5 slips, and GST/HST returns that need to be reconciled to the T2.
• Timing: late returns, several unfiled years, or a CRA review in progress.

A nil-return price is assessed from the corporation's activity and records, not simply zero revenue. For your quote, include the corporation's year-end date, last year filed and whether the books are reconciled. Starting fees (CAD, per tax year, before HST): from $250 for a nil return, subject to assessing the corporation’s circumstances, and from $499 for an active corporation (tax-document preparation and e-filing, including guidance on what information to provide; organizing unprepared financial records costs extra and is quoted before starting). Both cover preparing and electronically filing the federal T2. The Ontario annual return, payroll filings, and bookkeeping and financial statement preparation are not included; we offer each and quote it separately in writing. You get a written quote before any work starts. For a fuller breakdown, see our guide to what a corporate tax return costs in Toronto.

How our T2 workflow runs

1. Intake call. We confirm your year-end, what was filed last year, and whether your books are up to date.
2. Records and quote. You send your records to us. We review them and confirm the scope and fee in writing.
3. Bookkeeping review. We check that bank and credit card accounts reconcile, and post year-end adjustments.
4. Preparation. We prepare the financial information and the T2, and list any questions for you.
5. Review with you. We walk through the results, the tax owing or refund, and what to pay and when.
6. Sign and file. You sign Form T183CORP and we e-file the return.
7. After filing. We check the notice of assessment and help with any CRA follow-up questions.

Key T2 dates

• Filing deadline: The T2 is due within six months of the end of the tax year. For a December 31 year-end, that is June 30.
• Payment deadline (balance-due day): Any balance of tax is generally due two months after year-end, or three months for a Canadian-controlled private corporation that meets the CRA's conditions, including having claimed the small business deduction. Payment is due before the filing deadline.
• Instalments: Some corporations must pay tax in monthly or quarterly instalments during the year. The CRA's due dates for payments page sets out who may pay quarterly.

See our Canadian tax deadlines guide for other business dates.

Corporate tax return filing across Toronto and the GTA

We prepare corporate tax returns (T2) for corporations in Toronto and across the Greater Toronto Area. You can visit our Scarborough office, or file remotely with us from anywhere in Canada except Quebec. If your corporation is based in one of these areas, see the local page:

• Tax accountant and accounting services in Scarborough
• Tax accountant in North York
• Tax accountant in Etobicoke
• Tax accountant in Mississauga
• Tax accountant in Brampton
• Tax accountant in Vaughan
• Tax accountant in Markham
• Tax accountant in Richmond Hill

Situations that may require additional records or services

• No bookkeeping, or books months behind. We complete the bookkeeping cleanup first.
• Personal and business spending mixed in the same accounts.
• Shareholder loan balances that are large or have been outstanding for more than a year.
• First T2 after incorporating an existing sole proprietorship, including assets moved into the corporation.
• GST/HST returns that do not match the revenue in the books. See our GST/HST services.
• Payroll or dividend slips not issued for amounts paid to owners or staff.
• More than one unfiled year, or returns filed late. See our guide to catching up on unfiled corporate tax returns.
• Associated corporations, holding companies, or investment income earned inside the corporation.
• A CRA review, audit letter or reassessment. We can help organize documents and prepare responses to CRA letters once the scope and fee are confirmed in writing. Work outside the agreed scope is quoted in writing before it begins.
• Final return for a corporation that is closing.

Frequently asked questions

Does my corporation need to file a T2 if it had no income?

Generally, yes. According to the CRA's T2 guide, resident corporations must file a T2 every tax year, even when there is no tax to pay, apart from a few listed exceptions. An inactive corporation still files; the return is simpler.

When is my T2 due, and when do I have to pay?

The return is due six months after your fiscal year-end. Any tax owing is generally due two months after year-end, or three months for an eligible Canadian-controlled private corporation. Paying on the filing date is too late and may lead to interest.

Can you file my T2 if my bookkeeping is not done?

Yes, but the bookkeeping has to be completed first so the return is based on accurate numbers. We provide a written quote for that separate service before it begins.

How does GST/HST fit with my corporate return?

GST/HST is filed on its own return, not on the T2. The CRA can compare the revenue on your GST/HST returns with the revenue on your T2, so we reconcile them before filing. If your GST/HST returns were not filed, we can help bring them up to date.

Do I need to file electronically?

For tax years starting after 2023, most corporations must file their T2 electronically, with a few listed exceptions. We e-file using CRA-certified software.

Can you file my corporate return remotely?

Yes. Corporations anywhere in Canada except Quebec can send their records to us, review the return by phone or video, and e-sign Form T183CORP.

Do you also file Ontario or federal annual returns?

The annual return filed with the Ontario Business Registry or Corporations Canada is separate from the T2. We can prepare and file it for you.

How can I compare your T2 quote with a CPA firm's quote?

Compare the same work. Establish whether each quote includes bookkeeping, financial statement preparation, the T2 return, other filings and follow-up. Provide any lender or investor reporting requirements before engaging a provider. Compare your tax and accounting options.

Related services and guides

• Bookkeeping and accounting: monthly bookkeeping and year-end cleanup
• GST/HST filing: registration, returns and reconciliations
• Payroll services: T4 slips and remittances for owners and staff
• T2 corporate tax return guide
• Ontario corporate tax rates

Get your T2 quote

Send us your year-end date and a short description of your records through the contact form, or call (437) 410-7999. You can meet us at our office, Office 19, 695 Markham Road, Scarborough, Ontario M1H 2A5, or work with us entirely online.

Part of our small business accounting packages.

Estimate your tax first with our corporate tax calculator for Ontario.