Small business owners
Owner-managed Canadian-controlled private corporations (CCPCs) that want the Small Business Deduction claimed correctly.
Corporate Tax & Accounting Services
Corporate Tax Accountants Who Get Your T2 Right
We prepare and e-file T2 corporate income tax returns for incorporated businesses across Canada — from first-year startups to holding companies and professional corporations. You get an accurate, on-time filing and a clear plan to keep your corporate and personal tax as low as the rules allow.
- Federal T2 + Ontario Schedule 500 + Alberta AT1
- Small Business Deduction and CCA reviewed every year
- Filed on time, with CRA support if a letter arrives
- 2,300+individuals & businesses served
- 8+years of tax & accounting experience
- 4offices in Ontario & Alberta
Corporate tax return filing for Canadian businesses
Every corporation resident in Canada must file a T2 return with the CRA each year — whether it earned a profit, broke even, or sat dormant. At Lira Tax & Accounting Inc. we handle the whole filing: we reconcile your accounting income to taxable income, maintain your Capital Cost Allowance (CCA) pools, confirm your eligibility for the Small Business Deduction, and e-file the return and its schedules directly with the CRA.
Filing is only half the value. Because we see your numbers every year, we can spot planning opportunities before your year-end — how to pay yourself, when to buy equipment, and how to keep your corporation in the lowest tax bracket the rules allow. Whether you meet us at our Toronto, Scarborough, Guelph or Calgary office, or work with us by phone and video, you deal with one team that knows your file.
Ideal forIncorporated businesses, holding companies, professional corporations (medicine, law, dentistry) and startups filing their first T2.
Who our corporate tax service is for
If your business is incorporated, a T2 is not optional. Here is who we help most often.
Startups & first-year corporations
Newly incorporated? We handle short first year-ends, start-up costs and opening balances so your first T2 starts clean.
Holding & investment companies
Passive income, intercorporate dividends and refundable tax accounts tracked and reported properly.
Professional corporations
Physicians, dentists, lawyers and other regulated professionals who practise through a corporation.
Incorporated contractors & consultants
IT, trades and consulting corporations — including a review of personal services business (PSB) risk.
Dormant & catch-up filers
Nil returns for inactive corporations, and unfiled prior years brought back into good standing with the CRA.
What’s included in our T2 corporate tax service
A complete filing, not just a form. Every engagement includes the following.
Filing & schedules
- Federal T2 return with the Ontario Schedule 500, e-filed with the CRA
- Alberta AT1 return prepared alongside the T2 for Alberta corporations
- GIFI-coded financial statements (Schedules 100, 125 and 141)
- Schedule 1 reconciliation of accounting income to taxable income
- Schedule 8 CCA pools, plus capital gains and losses
- Shareholder (Schedule 50) and associated-corporation schedules
- Notice to Reader or Compilation Engagement financial statements
Tax planning
- Small Business Deduction and active business income review
- Passive income check against the $50,000 SBD threshold
- Salary vs. dividend modelling for the owner-manager
- Shareholder loan tracking so nothing is taxed by surprise
- Loss carry-forwards and carry-backs applied correctly
- A year-end planning conversation before your fiscal year closes
CRA support
- Corporate tax instalment calculations and reminders
- Review of your Notice of Assessment when it arrives
- Responses to CRA letters, reviews and audits
- Amendments to prior-year T2 returns when needed
- Catch-up filing for late or missed years
Key benefits of filing your T2 with Lira Tax
Accurate and CRA-compliant
Every schedule and GIFI code is cross-checked against current CRA rules before we file, so you avoid reassessments and penalties.
Planning, not just data entry
We test your salary-versus-dividend mix, SBD eligibility and CCA claims every year to keep your combined tax as low as the rules allow.
Filed on time, every year
We track your year-end, instalment dates and the six-month filing deadline, so late-filing penalties are never a worry.
One team that knows your file
Deal with the same people year after year — in person, by phone or on video — and get answers in plain English.
What our corporate tax process looks like
Six clear steps from first call to filed return.
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Free consultation
We learn about your corporation, year-end and last filing, then give you a clear quote. No obligation.
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Document collection
You receive a checklist tailored to your corporation. Send documents by email or drop them at any of our offices.
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Books & financial statements
We review or complete your bookkeeping and prepare year-end financial statements the CRA expects.
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Tax preparation & planning
We build the T2 and schedules, claim CCA and the Small Business Deduction, and model your compensation options.
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Your review & sign-off
We walk you through a plain-English summary of what you owe and why, then you authorize e-filing (Form T183CORP).
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E-file & year-round support
We file with the CRA, confirm receipt, review your Notice of Assessment and remind you of instalments.
Ready to start? The first step is free.
Book Free ConsultationT2 corporate tax deadlines and late-filing penalties
Corporate deadlines are tied to your fiscal year-end, not the calendar year, so they are different for every corporation.
| What | The rule |
|---|---|
| T2 return filing deadline | 6 months after your fiscal year-end — even for nil or inactive corporations. |
| Balance of tax owing | Generally 2 months after year-end; 3 months for eligible CCPCs claiming the Small Business Deduction. |
| Corporate tax instalments | Monthly, or quarterly for eligible small CCPCs, based on your prior-year tax. |
| Late-filing penalty | 5% of the unpaid balance plus 1% for each full month late, up to 12 months. Repeat offenders: 10% plus 2% per month, up to 20 months. |
| Interest on overdue tax | Charged daily on unpaid balances, compounding, at the CRA’s prescribed rate. |
Ontario corporations also file a separate annual return under the Corporations Information Act — a different filing from the T2. We can handle that too. See our Annual Return Filing service → Penalties or interest caused by something outside your control? Ask about taxpayer relief →
Corporate structure optimization in Canada
How your corporation is set up, and how you pay yourself from it, often matters more than the return itself. These are the areas we review with owner-managers.
Salary vs. dividends
Salary creates RRSP room and CPP contributions and is deductible to the corporation. Dividends are taxed differently and carry no CPP. The best mix depends on your income needs, other income and family situation, so we model it every year.
The Small Business Deduction
CCPCs pay a much lower rate on the first $500,000 of active business income. That limit is shared among associated corporations and is reduced once investment income passes $50,000 — which is why structure matters.
Holding companies
A holding company can let surplus cash move out of an operating company tax-free through intercorporate dividends, protecting it from business risk and deferring personal tax. It is not right for everyone, so we check whether it earns its cost.
Shareholder loans
A loan to a shareholder that is not repaid within one year after the end of the corporation’s tax year can be added to that shareholder’s personal income. We track balances so this never catches you out.
Planning for a sale or exit
Selling shares of a qualifying small business corporation may allow you to claim the lifetime capital gains exemption. The share structure needs to be right years before a sale, not during it.
This is general information, not advice for your specific situation. Book a consultation and we will look at your actual numbers.
Corporate tax rates at a glance: Ontario and Alberta
We file in other provinces tooCombined federal and provincial rates for a CCPC. The small-business rate applies to the first $500,000 of active business income.
| Federal | Provincial | Combined | |
|---|---|---|---|
| Ontario (Toronto, Scarborough, Guelph) | |||
| Small business rate | 9% | 2.2%* | 11.2% |
| General rate | 15% | 11.5% | 26.5% |
| Alberta (Calgary) | |||
| Small business rate | 9% | 2% | 11% |
| General rate | 15% | 8% | 23% |
* Ontario cut its small-business rate from 3.2% to 2.2% on July 1, 2026 (prorated for fiscal years that straddle that date), so a corporation with an earlier year-end may still see the higher rate on part of its income. Federal, Ontario and Alberta rates checked September 2026; governments change them in their budgets, so we confirm the exact rates for your fiscal year on every filing.
Incorporated outside Ontario or Alberta?
Ask about your province
We also prepare corporate tax returns for businesses in other provinces and territories across Canada. Rates and forms differ by province, and we will confirm the ones that apply to you in your free consultation.
How much does corporate tax filing cost?
Every corporation is different, so we quote each one individually instead of publishing a one-size-fits-all price. You will know exactly what you are paying before we start.
Size of the business
Revenue and the number of transactions to review.
State of your books
Whether bookkeeping is up to date or needs catching up first.
Corporate structure
Number of shareholders, associated or holding companies.
Number of years
One current year, or several missed years to file.
Related services
Add-ons such as payroll, GST/HST or personal returns for the owners.
Where you operate
Ontario only, or Alberta and other provinces as well.
- 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 QuoteCorporate tax accountants across Canada
Get directionsMeet us in person at any of our four offices, or work with us by phone and video. We file corporate returns for clients across Ontario, Alberta and the rest of Canada.
Outside Ontario or Alberta? We can still help.
Ask about your province
We prepare corporate tax returns for businesses in other provinces and territories across Canada too, by phone and video. Provincial rules and forms differ, and we will confirm the ones that apply to your corporation in your free consultation.
What our corporate tax clients say
View other testimonials★★★★★
“I have been returning to Lira Tax and Accounting Inc. for the past 3 years, and their service has always been excellent. Most recently, I had an issue with the CRA and was placed with a collections agency regarding several years of tax matters.
Razu provided expert advice, represented me professionally, and worked diligently to resolve 4 years' worth of tax issues. Thanks to his knowledge and guidance, the matter was resolved swiftly, and the CRA even issued me a refund cheque—something every honest taxpayer appreciates. :) I highly recommend Lira Tax and Accounting for anyone needing reliable and knowledgeable tax support. Thank you so much!”
★★★★★
“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%”
★★★★★
“Wow, what a wonderful services. Excellent corporate tax & accounting services in Toronto, great place for your tax & accounting task. Highly recommend others. Thank you very much for your support. Lira tax & accounting provide very supportive services for corporate needs.”
Corporate tax FAQs: deadlines, structure and filing
Straight answers to the questions we hear most from Canadian business owners.
Your T2 return is due six months after your corporation’s fiscal year-end. For a December 31 year-end that is June 30. The deadline is the same whether you owe tax or not. We track your dates and file well before the deadline.
Payment is generally due two months after your fiscal year-end — earlier than the filing deadline. Eligible Canadian-controlled private corporations that claim the Small Business Deduction generally have three months. Paying late means daily compounding interest even if the return is filed on time.
The CRA charges a penalty of 5% of the unpaid balance plus 1% for each full month the return is late, up to 12 months. If you were also late in any of the previous three years, the penalty can rise to 10% plus 2% per month, up to 20 months. If you have missed a year, contact us early — we can catch you up and limit the damage.
Yes. A corporation resident in Canada must file a T2 every year, even a dormant one with no income and no expenses. We prepare nil returns so your corporation stays in good standing with the CRA.
It depends on how much cash you need, your other income, RRSP and CPP goals, and your family situation. Salary is deductible to the corporation and builds RRSP room and CPP; dividends come with a dividend tax credit but create no RRSP room. Most owners do best with a blend. We model the total corporate-plus-personal tax of each option before you decide.
The Small Business Deduction gives Canadian-controlled private corporations a much lower federal rate on up to $500,000 of active business income a year. That limit is shared among associated corporations, and it is reduced when your corporation earns more than $50,000 of passive investment income. We test your eligibility on every return.
It can. When a corporation’s adjusted aggregate investment income is above $50,000, the Small Business Deduction limit starts to shrink, and it is eliminated at $150,000. Holding investments in a separate holding company is one way to protect the deduction — we can tell you whether it makes sense in your case.
Not always. A holding company can help protect surplus cash from business risk, defer personal tax and prepare for a future sale. It also adds annual filing and accounting costs. We look at your profits, growth plans and risk before recommending one.
Yes. Alberta corporations file a federal T2 with the CRA and a separate Alberta AT1 return with Alberta Tax and Revenue Administration. We prepare and coordinate both. Ontario corporations only file the T2, which includes Ontario Schedule 500.
Typically your year-end bookkeeping file or trial balance, bank and credit card statements, last year’s T2 and Notice of Assessment, records of any asset purchases or sales, and details of shareholder loans, draws, salary and dividends. If your books are not ready, we can bring them up to date as part of the engagement.
Keep records for six years from the end of the tax year they relate to. Corporate minute books, share registers and records of a dissolved corporation have their own retention rules, so ask us before you discard anything.
It depends on the size of your business, the state of your books, your corporate structure and how many years need to be filed, so we quote each corporation individually. Call us or book a free consultation and you will get a clear quote before any work starts — no hidden fees.
Yes. Send us the letter as soon as you receive it — CRA requests have response deadlines. We review what they are asking for, gather the supporting records and respond on your behalf.
You can file a notice of objection. A corporation has 90 days from the date printed on the notice of assessment or reassessment, and the CRA’s Appeals Branch then reviews it. Send us the notice as soon as it arrives so we can check the date and your records before the deadline.
Call the CRA before the balance becomes a collections problem, or let us call for you. The usual answer is a payment arrangement, and the CRA says legal action may begin if arrangements are not confirmed or scheduled payments are missed. Interest keeps building on what is unpaid, so the sooner a plan is in place the better.
Related services for your business
View other servicesAccounting & Bookkeeping
Clean, up-to-date books make every T2 faster and cheaper.
Learn moreCRA Audit Help
A CRA review or audit letter on your corporation? We respond for you.
Learn moreCanadian Payroll Services
Pay yourself and your team correctly, with remittances handled.
Learn moreGST/HST Registration
Register for and file GST/HST so sales tax stays in step with your T2.
Learn moreVoluntary Disclosures Program (VDP)
Found an old T2 error or missed return? Correct it and ask for relief.
Learn moreUnfiled Tax Returns
Overdue T2 returns? Catch up and get back in good standing with the CRA.
Learn moreGuides on corporate tax
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Read the guideLet’s file your T2 with confidence
Book a free consultation with our corporate tax team. We will review your year-end, flag planning opportunities and give you a clear quote — no obligation.
