The decision
For a corporation, shareholders approve the dissolution, usually by a special resolution.
Close Your Business Properly
Business Dissolution Help for Ontario and Federal Companies
Stopping trading is not the same as closing a business. Until a corporation is dissolved, the Canada Revenue Agency (CRA) still expects its returns, even with nothing owing. We handle the business dissolution from start to finish: the final returns, the filing and closing the CRA accounts.
- Corporations, sole proprietors and partnerships
- Final T2, GST/HST and payroll returns handled
- Free first call, with no obligation
How do you close it?
Tap your situation to see the order of the steps. Nothing is saved.
Tap one to see the steps, in order.
Why not just stop filing?
A business that is simply left alone keeps its obligations, and they do not disappear on their own.
-
The CRA still expects returns
A corporation that is not dissolved is considered to still exist, and it has to file a return even if no tax is payable.
-
The registry still expects filings
An Ontario corporation still owes its annual return, and one that does not file is subject to cancellation, with property not disposed of going to the Crown.
-
Distributing assets can create personal liability
The person handling the winding up may need a CRA clearance certificate before property is distributed, to avoid personal liability for unpaid tax.
-
GST/HST is due on what is left
When you close a GST/HST account, property you still hold for the business is treated as sold, and GST/HST on its value goes on the final return.
What does closing a business involve?
Six things, in roughly this order. We handle every one.
Debts and assets
Collect what is owed, settle what you owe and sell or distribute what is left.
Payroll
Remit source deductions, file the final information returns and give former employees their T4 or T4A slips.
GST/HST
File the final return for the period to your closing date, and close the account.
The final T2
File the corporation’s last return up to the date of dissolution, and show how the assets were distributed.
The dissolution filing
File with the Ontario Business Registry or Corporations Canada, then send the CRA the articles of dissolution.
How does business dissolution work with us?
Four steps, and you only need to be involved at the start and the end.
-
1
We review where you stand
We check your returns, accounts, debts and assets, and which closing route applies.
-
2
We prepare the final returns
The final T2, GST/HST and payroll filings, and a clearance certificate request if assets will be distributed.
-
3
We file the dissolution
The dissolution documents are submitted in the right registry.
-
4
We close the CRA accounts
The articles of dissolution go to the CRA and the program accounts are closed.
What’s included in our business dissolution
-
The right route chosen
Cancel, dissolve, or wind up first, for your type of business.
-
Dissolution documents prepared
Resolutions and filings drafted for the registry.
-
Final returns filed
T2, GST/HST and payroll up to the closing date.
-
Clearance certificate request
Prepared before property is distributed, where it applies.
-
CRA accounts closed
The articles sent and the program accounts closed.
-
Plain answers
Questions about closing answered by a person.
What stays with the registries and the CRA
The registry decides when a dissolution takes effect, and the CRA decides whether a clearance certificate is issued. No one can promise either. We promise accurate final returns, a filing made correctly and clear next steps.
How much does business dissolution cost?
A corporation with nothing owing and one with assets, debts and several years of returns are different jobs. We quote each case, and you will know what we charge before we start. Here is what shapes the quote.
-
Type of businessCorporation, sole proprietor or partnership.
-
Ontario or federalWhich registry and which filing.
-
Assets and debtsNone, or a winding up to manage.
-
Returns to fileUp to date, or several behind.
-
Payroll and GST/HSTAccounts to close, or none.
-
TimingPlenty of time, or a date close.
- Free, no-obligation consultation
- Clear quote agreed before we start
- No hidden fees or surprise billing
Prefer to talk it through first? Call us, or send a quote request.
Call (437) 421-7171 Request a QuoteBusiness dissolution across Canada
Get directionsDissolutions are filed online, so you can work with us by phone, video and secure upload. You are always welcome at one of our four offices.
Outside Ontario or Alberta? We can still help.
Ask about closing your business
We close Ontario and federal corporations for owners anywhere in Canada. Other provinces have their own steps, so ask us about yours.
What our clients say
View other testimonials★★★★★
“A friend recommended me Lira tax for my personal and corporation tax and it was done perfectly. Excellent service. If you think of someone to do your taxes, I recommend Lira tax 100%”
Business dissolution FAQs: corporations, the CRA and what comes first
Straight answers to what owners ask us before they close a business.
For a corporation, it is the legal end of its existence, approved by the shareholders and recorded by the registry that governs it. For a sole proprietorship or partnership, closing means cancelling the business name registration and closing your CRA accounts.
It depends on the type of business. A sole proprietorship or partnership cancels its business name registration and closes its CRA accounts. A corporation is dissolved: the shareholders approve it, debts and property are dealt with, final returns are filed, and the dissolution is filed with the registry.
The shareholders approve the dissolution, the corporation settles its debts and deals with its property, and the Articles of Dissolution are filed in the Ontario Business Registry. We confirm the current requirements for your corporation before we file.
With no property or liabilities, shareholders approve by special resolution and the articles of dissolution are filed online. With property or liabilities, the corporation settles them, files a statement of intent to dissolve, notifies its creditors and then applies for a certificate of dissolution.
It is not a safe plan. The CRA considers an undissolved corporation to still exist and expects a return even when no tax is payable, and a corporation that misses its annual return is subject to cancellation.
Yes. A corporation files a T2 return up to the date of dissolution, and shows how its assets were distributed. The CRA also asks for a copy of the articles of dissolution.
A certificate the CRA issues to confirm a corporation’s taxes are paid. The person winding up the corporation can ask for one before distributing its property, which helps avoid personal liability for unpaid tax. It is requested with Form TX19.
The cancellation date is the day the business closes. You file a final return for the period up to that day, and GST/HST is payable on property you still hold for the business, which is treated as sold just before closing.
Remit all source deductions, file your final payroll information returns, and give copies of T4 or T4A slips to former employees before the payroll account is closed.
Cancel the business name registration in the Ontario Business Registry, close any GST/HST and payroll accounts with the CRA, and report your last business income on your personal return.
It should be collected, sold or distributed to the shareholders in line with the law before the dissolution is filed. In Ontario, property not disposed of at dissolution goes to the Crown.
Yes. We review where you stand, prepare the final returns, file the dissolution and close the CRA accounts.
We quote each case after a free consultation, because a corporation with nothing owing and one with assets and several years of returns are very different. You will know the cost before we start.
Official sources we check
We confirm the steps on the registries’ and the CRA’s own pages. You can read them too:
- Closing CRA program accountscanada.ca (opens the official site in a new tab)
- Close your GST/HST accountcanada.ca (opens the official site in a new tab)
- Guide on dissolving a business corporation (Corporations Canada)ised-isde.canada.ca (opens the official site in a new tab)
- Ontario Business Registryontario.ca (opens the official site in a new tab)
- Involuntary corporate dissolution (Ontario)ontario.ca (opens the official site in a new tab)
Checked against these pages in October 2026. Closing rules change, so we confirm the current steps for your business before we start. This page is general information, not legal advice.
Related services
View other servicesCorporate Tax Returns
The final T2, and the returns that come before it.
Learn moreUnfiled Tax Returns
Behind on filing? Catch up before you close.
Learn moreAnnual Return Filing
Keep a corporation in good standing while you wind it up.
Learn moreCanadian Payroll Services
Final payroll returns and T4 slips.
Learn moreGST/HST Registration
Close a GST/HST account and file the final return.
Learn moreAccounting & Bookkeeping
Clean books for the closing and the final accounts.
Learn moreGuides for business owners
How to Incorporate a Business in Ontario: Step-by-Step
Learn how to incorporate a business in Ontario step by step: name search, articles of incorporation, fees, timelines, a…
Read the guide
Reasons Why You Need Professional Tax Preparation Services
When it comes to preparing and filing tax returns, many people choose to hire a professional tax preparer rather than t…
Read the guide
How Tax Consultant Can Help Maximizing Your Tax Savings
Are you tired of paying high taxes and not getting the most out of your money? A tax consultant can help you maximize y…
Read the guideReady to close your business? Let’s do it properly
Book a free consultation. Tell us what kind of business you have and where it stands, and we will tell you what to file, in what order, with no obligation.
