Business Tax Returns

Even if there is no tax payable, all resident corporations (except tax-exempt crown corporations, hutterite colonies, and registered charities) need to file a corporation income tax (T2) return every tax year. This consists of:

1: Non-Profit Organizations
2: Tax-Exempt Corporations
3: Inactive Corporations

What did you get?

Companies can file their returns electronically using the Internet. It is compulsory for some companies that exceed $1 million annual gross revenues. Non-resident companies have to file T2 return at a certain point.

The two different types of T2 returns are:

  • T2 Corporation Income Tax Return
  • T2 Short Return