The T2 is the corporate income tax return every incorporated business in Canada must file annually, even if it had no activity.
The T2 Corporation Income Tax Return reports a corporation's income, deductions and tax for its fiscal year. It includes the GIFI schedules (the balance sheet and income statement in coded form) and any schedules for the small business deduction, CCA, and other items. Every corporation must file a T2 for every year it exists, even a dormant one.
The T2 is due six months after fiscal year-end, but any balance owing is due earlier, two months after year-end, or three for a CCPC claiming the small business deduction. Instalments through the year may also be required based on prior tax.
A corporation with a December 31 year-end must file its T2 by June 30. Its tax balance, however, was due earlier, by the end of February or March depending on its small-business status.
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