Table of Contents
A corporate tax appointment goes faster, and costs less, when you arrive with the right documents. This is the checklist we give Toronto businesses before a T2 engagement, grouped so you can gather it in an afternoon.
Financial records
- Year-end trial balance or a complete set of bookkeeping (QuickBooks/Xero file or spreadsheets).
- Bank and credit-card statements for the full fiscal year, reconciled to your books.
- The prior year's financial statements and T2, plus the CRA notice of assessment.
- Loan agreements and the year-end balance of any shareholder loan account.
Revenue and expense support
- Sales summaries and, if registered, your filed GST/HST returns for the year.
- Receipts for major purchases, especially capital assets (equipment, vehicles, computers) for the CCA schedule.
- Payroll records: T4/T4A slips issued, and the annual PD7A source-deduction summary.
- Documentation for home-office and vehicle use if the company reimburses shareholders.
Corporate documents
- The articles of incorporation and business number, for a first engagement.
- The current shareholder register (needed for Schedule 50).
- Minutes or resolutions for dividends declared during the year.
A note specific to Toronto and Ontario
Ontario corporate tax is administered federally through the same T2, so there is no separate provincial income-tax return to file. However, an Ontario employer that crosses the Employer Health Tax threshold has a separate EHT obligation, and businesses with staff should confirm their WSIB status. Bringing your EHT and WSIB filings to the appointment lets your accountant reconcile payroll fully in one pass.
Why the checklist matters
Two-thirds of the time spent on a small T2 is chasing missing documents. A complete package means a fixed, predictable fee, a faster turnaround, and fewer follow-up emails. It also reduces reassessment risk, because a return built on reconciled records rarely disagrees with the CRA's own data.