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At Tax Filings Canada, we handle every part of your corporate tax cleanup, 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 — corporate tax cleanup 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 budget-friendly fixed fees, pay-after-service.
Hand over your documents once; we will tell you if anything is missing.
Preparation happens on our desk, not yours — including the corporate tax cleanup details that are easy to overlook.
A review meeting or call walks you through the draft before you give the go-ahead.
After sign-off, we file, arrange any balance owing, and close the loop with you.
| 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 |
Late-filing penalties start at 5% of the balance owing plus 1% per month, and repeat late filers can see those figures double — catching up through the Voluntary Disclosures Program can cut the penalty side substantially. 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. Because the fee is fixed and budget-friendly, the economics stay predictable whether your file is simple or messy.
There is a version of corporate tax cleanup that runs smoothly and a version that turns into correspondence. The difference is rarely luck; it comes down to details any tax filing specialist handling these files weekly learns to check first.
The starting point is not a strategy but a constraint: Depreciable property is written off through capital cost allowance at a rate set by its class, and the half-year rule limits the first-year claim unless immediate expensing applies. Class selection is where the money is. The same asset placed in the wrong class can delay the deduction by years, and the error repeats every year until corrected.
Right behind it comes a rule owners rarely hear about until it bites: Planning has to be in place before the transaction. The salary-versus-dividend mix, the timing of a capital purchase and the choice of year-end all change the outcome, but only prospectively. Almost every planning opportunity we see missed was available and simply not taken in time; very few are recoverable after year-end. Calendars matter more than most people expect in corporate tax cleanup, and this is the rule that proves it: 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.
What this means for you depends entirely on facts we have not seen yet — which is the honest answer, and the reason a tax filing specialist starts every corporate tax cleanup engagement with questions rather than conclusions. Before the first meeting, it helps to pull together the records that let a tax filing specialist see your situation whole.
When you are ready, the process is straightforward — we agree a fixed fee up front, prepare the work, walk you through it before filing, and you pay once the service is delivered.
Providing transparent fixed pricing and high-quality compliance work for your corporate tax cleanup requirements.
Coverage: Standard bookkeeping and corporate tax cleanup preparation.
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Ideal for companies seeking high-growth financial structuring.
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Providing tailored corporate tax cleanup services to ensure compliance and maximize deductions.
Our tax accountants keep your business compliant with federal and provincial tax rules.
A dedicated team that handles your financials quickly, accurately, and without upfront fees.
Dedicated preparation processes customized for Canadian businesses.
Advanced accounting software integrations with QuickBooks, Xero, and wave accounting.
Customized packages designed to grow as your business operations expand.
Our clear four-step workflow ensuring absolute tax optimization and complete CRA compliance.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
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See how our expert Corporate Tax Cleanup tax and accounting services have helped Canadian businesses save money and stay compliant.
The CRA had assessed a corporation associated with a spouse-owned company in Burnaby, British Columbia on estimates across 7 unfiled years. Real filings vacated $17,500 of that tax.
7 years of unfiled returns had turned into notional assessments at a corporation associated with a spouse-owned company in Burnaby, British Columbia. Underneath lay a balance-due date the owner believed was the same as the filing date. Collections had already started. We rebuilt the instalment schedule off the current year rather than the prior year, ending the interest accrual. We then filed every outstanding year in chronological order so the CRA could vacate the notional assessments cleanly. All 7 years were accepted as filed. $17,500 of arbitrarily assessed tax was vacated, collections action stopped, and the account is current for the first time in 7 years.
Growth at an incorporated trades business in Guelph, Ontario had outrun the back office. Retained earnings building in the operating company with no plan for extracting them broke first. Headcount reached 55 with $106,000 of cash freed.
An incorporated trades business in Guelph, Ontario was growing fast, with headcount reaching 55 in eighteen months. The back office had not kept up. Retained earnings building in the operating company with no plan for extracting them was the first thing to break. We documented safe income before the inter-corporate dividend was paid, so subsection 55(2) had no room to recharacterise it as a gain. We built the compliance calendar for the size the business was becoming rather than the size it had been. The business reached 55 staff with no missed remittance and no late filing. $106,000 of working capital was freed in the process.
A 3-week rebuild at a corporately-owned rental portfolio in Surrey, British Columbia got the filing in with 10 days to spare. That avoided $75,000 in penalties.
A corporately-owned rental portfolio in Surrey, British Columbia was weeks away from the deadline for corporate tax cleanup. Behind that sat a distribution treated as tax-free capital dividend with no election ever filed. The exposure if the date slipped was around $75,000. We modelled salary against dividends across both the corporation and the shareholder’s personal return, then set the remuneration mix for the year. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 10 days to spare. $75,000 in late-filing penalties avoided, and the working papers are ready for the following year.
A family transfer at a franchise operator with three locations in Windsor, Ontario would have been fully taxable. The reason was retained cash well above what the business needed to operate. Restructuring deferred $285,000.
A generational transfer at a franchise operator with three locations in Windsor, Ontario had been discussed for years without a plan. Retained cash well above what the business needed to operate meant the transfer as contemplated would have been fully taxable. We reviewed each capital cost allowance pool and set the claim at the level that kept the small business deduction fully used rather than wasted. We sequenced the steps so each one was complete and documented before the next depended on it. $285,000 of tax was deferred through the transfer, and the successor generation took over a corporation whose records stood up to review.
A professional corporation in Edmonton, Alberta was filing correctly and still overpaying. The reason was two corporations under common control filing as if each had its own $500,000 limit. Restructuring the position cut $69,000 from the annual bill.
A professional corporation in Edmonton, Alberta was compliant but paying more than it needed to. The prior year had been filed correctly. It still left two corporations under common control filing as if each had its own $500,000 limit on the table. We modelled the current position against the alternatives before changing anything. Then we carried the non-capital loss back against the two profitable years and recovered tax already paid instead of holding a carry-forward balance. The change saved $69,000 in the first year and repeats annually. Nothing about the filings became more aggressive. The position is simply the one the rules already allowed.
A desk review assessed a CCPC with two shareholders in Regina, Saskatchewan $73,000. The dispute was over a loss year carried forward by default when carrying it back would have produced a refund cheque. Producing the records vacated the assessment.
A CCPC with two shareholders in Regina, Saskatchewan was carrying $73,000 of penalties and interest. The charges arose from a loss year carried forward by default when carrying it back would have produced a refund cheque. Much of that amount accumulated during a period the CRA itself had delayed. We mapped the association rules across the group, allocated the business limit deliberately on Schedule 23, and corrected the prior year by adjustment request. We framed the relief application on the specific grounds the CRA guidelines recognise rather than on general hardship. The assessment was vacated. $73,000 came off the account, and the documentation now on file makes the same position straightforward to defend next time.
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Same fixed fees in every province. Find your city or your sector.
Direct answers to what Canadian business owners actually ask before hiring an accountant.
Corporate Tax Cleanup 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 serve clients in every province and territory at the same fixed fees, 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 corporate tax cleanup 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. Depreciable property is written off through capital cost allowance at a rate set by its class, and the half-year rule limits the first-year claim unless immediate expensing applies. Class selection is where the money is. The same asset placed in the wrong class can delay the deduction by years, and the error repeats every year until corrected. If your current setup was built on the assumption instead of the rule, that is fixable — but sooner is better than later.
A tax practitioner answers this differently than a search engine, because the rule has edges. Planning has to be in place before the transaction. The salary-versus-dividend mix, the timing of a capital purchase and the choice of year-end all change the outcome, but only prospectively. Almost every planning opportunity we see missed was available and simply not taken in time; very few are recoverable after year-end. 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.
A T2 corporate return is due six months after the fiscal year end, whichever month that falls in. The balance owing comes earlier: two months after year end, or three months for an eligible Canadian-controlled private corporation claiming the small business deduction. Filing late costs 5% of the unpaid balance plus 1% per month for up to 12 months. For tax years beginning after 2023, electronic filing is mandatory for essentially all corporations whatever their gross revenue — the old $1 million threshold no longer applies — and paper-filing a return that had to be filed electronically carries a $1,000 penalty.
A small business corporation pays the federal small business rate of 9% on its first $500,000 of active business income for 2026, plus the small business rate of the province where it has a permanent establishment. Above that limit, or once the small business deduction has been ground down, the federal general net rate of 15% for 2026 applies. An unincorporated business works differently: the profit goes on the owner's personal return and is taxed at personal marginal rates.
A tax rebate usually means the refund on your T1, and for a 2025 return the CRA aims to issue it in about two weeks when you file online. A paper filing runs on a considerably longer standard. Rebates claimed on a separate application, such as a GST/HST rebate for a new home, take longer still because they are handled manually and are often reviewed. Filing online with direct deposit gives the shortest wait.
There are two federal rates. For 2026, active business income up to $500,000 earned by a Canadian-controlled private corporation is taxed at the federal small business rate of 9%; income above that limit, and the income of corporations that do not qualify, is taxed at the federal general net rate of 15%. Every province adds its own small business and general rate, so your combined rate depends on where the corporation has a permanent establishment. Investment income is taxed under different rules.
Start with the structure. An unincorporated business reports on form T2125 inside your personal T1, due 15 June 2026 for the 2025 year, with any balance still payable by 30 April 2026. A corporation files a T2, due six months after its fiscal year end. Either way, reconcile your bookkeeping first, separate business from personal spending, keep records for six years, and claim capital purchases through depreciation rather than as an outright expense.
No. The GST, HST, PST or QST you charge is not your revenue. You collect it as an agent and remit it, so it belongs in a liability account and revenue is recorded net of tax. Including it overstates sales and distorts every margin you calculate. Input tax credits work the same way in reverse, against that liability rather than as an expense. Payment processors deposit tax-included amounts, which is why bank totals never equal revenue.
The three levers are deductions that reduce the income you are taxed on, credits that reduce the tax itself, and moving savings into registered plans. RRSP room is the lesser of 18% of prior-year earned income and the year's dollar limit — $32,490 for 2025 and $33,810 for 2026 — then reduced by any pension adjustment and increased by unused room carried forward. A TFSA shelters growth instead of deferring tax. Claim every eligible expense, split eligible pension income where the rules allow, and carry unused amounts forward rather than losing them.
Yes. Paid parking in Ontario is a taxable supply, so 13% HST applies to lot, garage, meter and app-based parking and to monthly parking rentals. Municipal meters and hospital lots charge it too, usually included in the posted rate. Parking supplied to a tenant as part of a long-term residential lease can be exempt with the rent. If you park for business and are registered, the HST is generally recoverable as an input tax credit.
The account number your bank asks for is your own CRA identifier, not a number the CRA issues for payments. An individual paying income tax enters their social insurance number. A business enters its business number with the program account the money is for, so GST/HST, payroll and corporate tax each go to a separate payee. Picking the wrong payee is the usual reason a payment lands on the wrong account and interest keeps accruing.
A criminal record check you pay for to get or keep a job is not deductible, because an employee may only claim the narrow set of employment expenses the tax rules allow and this is not among them. A business that pays for checks on staff or contractors may deduct the cost as an ordinary operating expense, and so may a self-employed person who must hold a current check to do the work being billed. Keep the receipt either way.
Tax makes up a large share of the retail price, and the exact share depends on the province. Three layers stack: federal excise duty on the tobacco, a provincial tobacco tax, and then GST or HST charged on the selling price. Provinces change their tobacco tax with almost every budget, so take the figures from your province's tobacco tax page and the federal excise duty rate schedule rather than from a general article.
Line up what gets withheld with what will be assessed. Ask the payer of your largest income source to deduct additional tax each pay, which matters most when you have two employers or a pension alongside employment. Set aside a portion of self-employment, tip, rental or investment income as it arrives, and pay any instalments the CRA has asked for. An RRSP contribution made within the contribution window for that year reduces the taxable income being assessed.
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. He is Big 4 trained, at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia. In 2014 he founded his accounting practice 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.
Sources. CRA — Keeping records · CRA — Businesses · Income Tax Act (Justice Laws Website)
