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At Tax Filings Canada, we handle every part of your amalgamation tax return, from the filing itself to the planning around it. Our accountants work with corporations and business owners every week, so you can focus on running and growing your business.
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Yes — amalgamation tax return can be handled entirely online. Tax Filings Canada covers the T2 return with full GIFI schedules and every provincial filing that applies for incorporated businesses and CCPCs at economical fixed fees, pay-after-service.
Gather what you have — even a shoebox of receipts is a fine starting point.
We turn your records into a complete, review-ready amalgamation tax return file.
You get a walkthrough of the results, in plain language, before you approve a thing.
We submit everything for you and stay available for whatever follows.
| Factor | Tax Filings Canada | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Payment | Pay after service | Upfront retainer |
| Price match | Yes, on written quotes | Rarely |
| CRA audit support | Included | Billed extra |
| Typical turnaround | 3-5 business days | 2-4 weeks |
A CCPC's T2 is due six months after year-end, but the balance owing is due within two months — three for many small CCPCs claiming the small business deduction. Our amalgamation tax return engagement is priced as a economical flat fee, so the cost is known before the work starts.
If you handle Amalgamation Tax Return once a year, everything looks equally important. Handle it weekly, as a tax professional does, and a clear hierarchy emerges; these notes follow that hierarchy.
One rule does more work than the rest combined, so it goes first. The first fiscal year-end must fall within 53 weeks of incorporation and sets every filing deadline that follows. Share structure decided at incorporation governs who can receive dividends later. Year-one choices are cheap to make and expensive to undo. Restructuring share classes after value has accrued triggers its own tax consequences.
Then comes the detail that separates a clean file from an expensive one: A transfer of eligible property to a taxable Canadian corporation for share consideration can be made on a tax-deferred basis under section 85, but only where a joint election is filed on form T2057. The election is due by the earliest filing due date of any party to the transfer; after that it can be late-filed within a limited window on payment of a penalty, and later still only where the Minister accepts the election as just and equitable. A file is only as strong as what backs it up, which brings us to the next rule: The elected amount on a section 85 transfer cannot be less than the fair market value of any non-share consideration received, so cash or a note taken back on the transfer produces an immediate gain to that extent. Where full deferral is the aim, the elected amount is set at the cost amount of the property and the non-share consideration is kept within it.
What this means for you depends entirely on facts we have not seen yet — which is the honest answer, and the reason a tax professional starts every amalgamation tax return engagement with questions rather than conclusions. Think of this list as the raw material a tax professional works from on amalgamation tax return.
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Providing tailored amalgamation tax return services to ensure compliance and maximize deductions.
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A discretionary family trust in Guelph, Ontario had already been penalised over a freeze completed years earlier with nothing on file to support the value placed on the preferred shares. A relief application cancelled $134,000 of that penalty.
A single-shareholder operating company in Lethbridge, Alberta was profitable and permanently short of cash, with a dividend paid up to the holding company with no safe income on hand computed behind it behind the gap. Restructuring the tax cycle freed $135,000.
Scaling exposed a capital dividend account balance that would have been lost on dissolution had the final distribution gone ahead as planned at a two-company group planning an amalgamation in Toronto, Ontario. The back office was rebuilt to match, freeing $125,000.
An incentive review at a shareholder exchanging common shares for preferred shares in Calgary, Alberta found an investment portfolio accumulating inside the operating company, putting the qualified small business corporation tests at risk and recovered $102,000 across 6 open years.
Collections had begun against an incorporating sole proprietor in Vancouver, British Columbia over 7 years of unfiled returns. Bringing them current cut $93,000 from the balance.
A shareholder buying out a departing co-owner in Mississauga, Ontario was carrying $24,000 of penalties and interest from an investment portfolio accumulating inside the operating company, putting the qualified small business corporation tests at risk. A relief application cancelled it.
Meet the specialists behind your Amalgamation Tax Return filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
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International Tax, Transfer Pricing Specialist
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Direct answers to what Canadian business owners actually ask before hiring an accountant.
Amalgamation Tax Return starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you pay only after you have reviewed and approved the deliverable. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the free 15-minute call.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit representation works.
Yes. Late filing penalties compound at 5% of the balance owing plus 1% per month, so the cost of waiting is real. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We are a cloud-based practice serving every province and territory, so your location does not change the price or the service. Browse our coverage across Canada to find your city.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and CRA scrutiny patterns. See all industries we serve.
Software applies the rules you already know about. An experienced tax accountant finds the ones you do not: capital cost allowance timing, the small business deduction threshold, shareholder loan repayment rules, and TOSI exposure on family dividends. The fee is usually smaller than the deductions it surfaces.
Our amalgamation tax return services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by booking a free 15-minute call. We will review your files, provide a fixed quote, and start working immediately.
There is a widespread assumption here, and the actual position is worth stating plainly. A CCPC files its T2 within six months of year-end, with the balance due two months after (three where the small business deduction is claimed). The 9% federal small business rate applies to the first $500,000 of active business income. The filing and payment deadlines differ, and interest runs from the payment date. Filing on time while paying late still costs money. If your current setup was built on the assumption instead of the rule, that is fixable — but sooner is better than later.
An accounting firm answers this differently than a search engine, because the rule has edges. Shares meet the qualified small business corporation tests only where, at the time of the disposition, all or substantially all of the fair market value of the assets of the corporation is used in an active business carried on primarily in Canada, and where more than half of that value met a comparable test throughout the twenty-four months before the disposition. Investments accumulating in an operating company put both tests at risk, which is a large part of what a holding structure exists to prevent. Where your business sits relative to those edges is what we establish in the first meeting.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
CRA online filing for 2025 returns opened 23 February 2026 and closes 29 January 2027. Most people file between late February and the 30 April 2026 deadline, and that stretch is what tax season refers to. You can gather documents and prepare a return earlier, but it cannot be sent electronically before the system opens. Employment and investment slips such as T4 and T5 are issued by payers early in the year, and the CRA's Auto-fill service can pull the ones it already holds once you have set up My Account.
Yes. Most people file electronically through NETFILE using CRA-certified software, which submits the return directly and confirms receipt immediately. Filing online is also what makes a fast refund possible: for 2025 returns filed in 2026 the CRA service standard is about two weeks online, against a considerably longer standard for a paper return, and registering direct deposit removes the cheque step. CRA online filing for 2025 returns opened 23 February 2026 and closes 29 January 2027.
As the rules stand for the 2025 tax year filed in 2026, the late-filing penalty is 5% of the balance owing plus 1% of that balance for each full month the return is late, to a maximum of 12 months, so 17% at worst. It rises to 10% plus 2% per month for up to 20 months, a 50% maximum, but only where the CRA formally demanded the return and had already charged a late-filing penalty for any of the three preceding tax years. Interest compounds daily.
Multiply the pre-tax price by the combined rate for the province where the supply is made, then add that amount to the price. If the price already includes tax, divide the total by one plus the rate to get the pre-tax amount, and the difference is the tax. The rate depends on the province of supply rather than where your business sits, so verify the current rate for that province and confirm the item is not zero-rated or exempt.
Yes, the CRA does telephone people, usually about a balance owing, a missing return, an audit or to verify information, and calls can come from many different numbers, so caller ID proves nothing either way. A real agent never demands payment by gift card, cryptocurrency or e-transfer, never threatens immediate arrest or deportation, and never asks for a password. If a call feels wrong, hang up, check your balance and mail in My Account, then call back using a number from canada.ca.
Several NETFILE certified programs are free to use for straightforward returns, and the CRA publishes the certified list each filing season. If your income is modest and your return is simple, a free volunteer tax clinic can prepare and file it for you. Some people also receive a CRA invitation to file through a simplified phone or digital service. Free tools cover most employment and pension returns; self-employment, rental or foreign income usually needs more.
Those are American terms. The Canadian equivalent is the personal tax credits return you complete for an employer, claiming the federal and provincial basic personal amount plus any other credits you qualify for, such as tuition or the disability amount. Your employer uses it to set the tax withheld from each paycheque. The federal basic personal amount for 2026 is $16,452, tapering to $14,829 as net income runs from $181,440 to $258,482.
A tax specialist prepares and files returns, works out how the rules apply to your particular facts, and deals with the CRA on reviews, audits and objections. On the planning side that covers timing income, choosing between salary and dividends, structuring a sale of a business, or correcting a filed year through an adjustment request. Fees vary with complexity, so get the price in writing before work starts and confirm whether CRA follow-up is included.
Box 14 is gross employment income, not net. It shows total pay before income tax, CPP and EI were withheld, and it already includes most taxable benefits and any tips the employer controlled and paid out. The amounts withheld sit in their own boxes further along the slip. Net income is something you calculate on the T1 after deductions such as RRSP contributions and union dues, so it will not match box 14.
In Canada, income tax applies to employment income, self-employment and business profits, investment income such as interest, dividends and rents, pension and government benefit payments, and the taxable half of capital gains, since one-half is included for 2025 and 2026. GST at 5% plus any provincial sales tax applies to most goods and services, with basic groceries, prescription drugs and residential rent among the exceptions. Lottery winnings and most gifts are not taxed.
The GST/HST credit is paid quarterly and there is no fixed clock time. A direct deposit is released on the payment date and most banks post it that morning, though some show it overnight before and others later in the day. Cheques take longer in the mail. The year's payment dates are on the CRA's benefit payment dates page, and My Account shows your next amount. Wait a few business days before reporting a missing payment.
Payments end the month after your child ages out of the benefit. They also stop if the child no longer lives with you, if custody changes, if you leave Canada, or if you or your spouse stop filing returns. Because entitlement is recalculated every July from family net income, a rise in income can end payments while the child is still eligible. Confirm the current age cut-off on canada.ca and your own status in CRA My Account.
Reviewed and fact-checked by Udit Gupta
Ex Big 4 — Ernst & Young, Deloitte · International & cross-border tax specialist · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta has over 15 years of experience helping corporations and business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. Big 4 trained at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia, he founded his accounting practice in 2014 to serve entrepreneurs, startups and non-resident business owners across Canada. View full member bio.
The Institute of Chartered Accountants of India — member 521458 · Malaysian Institute of Accountants — member CA 44667 · Ex Big 4: Ernst & Young, Deloitte · CPA Canada (In-Depth Tax Program), completed 19 Dec 2023 · In-Depth GST/HST Part I, 12 Jul 2022 · Part II, 5 Jul 2023
Editorial policy. Every page is researched against primary sources — the Income Tax Act, CRA publications and CPA Canada guidance — and every rate or threshold is stated with the tax year it applies to.
