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At Tax Filings Canada, we handle every part of your corporation dissolution, 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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Stay compliant and optimize your financial processes with our specialized corporation dissolution services.
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Yes — corporation dissolution can be handled entirely online. Tax Filings Canada covers federal or provincial incorporation, minute books, annual returns and CRA program accounts for founders and corporations at every stage at affordable fixed fees, pay-after-service.
Upload, email, or drop off your paperwork — whichever you prefer.
Behind the scenes, we assemble and double-check your corporation dissolution filing.
Nothing is filed until you have seen it, understood it, and approved it.
We take care of the submission and send you confirmation for your records.
| 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 |
Federal corporations file an annual return with Corporations Canada that is separate from the T2 — missing it can lead to administrative dissolution. We quote corporation dissolution as one affordable fixed price — the budget-friendly alternative to hourly billing.
A few notes from the files we actually work on, because corporation dissolution is decided by details that never make it into a brochure.
Before anything else, one rule sets the frame. 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.
There is a companion rule that changes how the first one plays out in practice: 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. A file is only as strong as what backs it up, which brings us to the next rule: A federal corporation must file an annual return with Corporations Canada that is entirely separate from its T2. Missing it repeatedly leads to administrative dissolution.
Taken together, these rules explain why corporation dissolution can rarely be treated as a do-it-once-and-forget exercise. A tax filing specialist watches how they interact across your specific facts, which is something no checklist can do. The smoothest files are the ones where the client arrives with these records already assembled.
The fee is fixed and agreed before any work starts, you review every figure, and payment happens only after the work is done.
Providing transparent fixed pricing and high-quality compliance work for your corporation dissolution requirements.
Coverage: Standard bookkeeping and corporation dissolution preparation.
Ideal for early-stage startups and sole proprietors.
Book NowCoverage: Full-service bookkeeping, filings, and CRA compliance support.
Perfect for established small businesses.
Book NowCoverage: Strategic advisory and fractional CFO integration.
Ideal for companies seeking high-growth financial structuring.
Book NowWhy you should partner with Tax Filings Canada Experts for all your corporation dissolution needs?
Providing tailored corporation dissolution 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 Corporation Dissolution tax and accounting services have helped Canadian businesses save money and stay compliant.
A contractor incorporating for liability reasons in Burnaby, British Columbia faced a $24,000 proposed reassessment. It came after dividends paid for three years with no directors’ resolutions behind them. We rebuilt the documentation and the adjustment was withdrawn in full.
A contractor incorporating for liability reasons in Burnaby, British Columbia received a proposal letter opening a review of corporation dissolution. The CRA had identified dividends paid for three years with no directors’ resolutions behind them. It proposed an adjustment of $24,000, with 30 days to respond. We treated the response as an evidence exercise rather than an argument. We reconstructed the minute book with resolutions for each historical dividend and share transaction. We then indexed every supporting document against the specific line the auditor had questioned. The proposed adjustment was withdrawn in full — all $24,000 of it. The file closed in 5 weeks with no change to the assessed amounts and no penalty.
An e-commerce seller incorporating federally in Victoria, British Columbia had never tested its work against the eligibility rules. The resulting $96,000 claim was accepted without adjustment.
An e-commerce seller incorporating federally in Victoria, British Columbia assumed the credits did not apply to a business its size. Dividends paid for three years with no directors’ resolutions behind them meant they had applied all along. We identified the qualifying activity and built the documentation to support it. Then we tested each intended dividend recipient against the excluded-amount tests before any dividend was declared, and recorded which test was being relied on. $96,000 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
A consultant incorporating after two years of self-employment in Guelph, Ontario was preparing to sell. However, passive assets sitting inside the operating company, disqualifying the shares disqualified the shares. Purification sheltered $880,000 under the exemption.
A consultant incorporating after two years of self-employment in Guelph, Ontario had an offer on the table and 14 months to close. The shares did not qualify for the capital gains exemption. Passive assets sitting inside the operating company, disqualifying the shares was part of the reason. We purified the corporation so the shares met the qualifying tests. We filed the change of registered office and the director changes, so registry correspondence reached someone who read it. All of it was done well ahead of the closing date. The sale closed on schedule with $880,000 sheltered by the lifetime capital gains exemption across the shareholders.
Collections had begun against a corporation choosing its first fiscal year-end in Mississauga, Ontario over 6 years of unfiled returns. Bringing them current cut $86,000 from the balance.
By the time a corporation choosing its first fiscal year-end in Mississauga, Ontario called, 6 years were outstanding. The CRA had assessed on estimates. Underneath it sat a registered office address left unchanged through two moves, so registry notices went to an empty unit. We reconstructed the records year by year. We revived the corporation, filed the outstanding annual returns, and set a compliance calendar covering both the corporate registry and the CRA. Each filing replaced an arbitrary assessment with a real one. The account is current. Filing on real numbers rather than CRA estimates reduced the balance by $86,000, and a relief application addressed part of the accumulated interest.
The structure at a family business adding a second class of shares in Surrey, British Columbia no longer fitted the business. A register of individuals with significant control that had never been opened, let alone updated showed it. Rebuilding it saves $10,000 a year.
The structure at a family business adding a second class of shares in Surrey, British Columbia dated from years earlier. It had been set up for a business that no longer existed. A register of individuals with significant control that had never been opened, let alone updated had become expensive. We restructured the share capital so dividends could be directed deliberately, respecting the TOSI rules. The reorganisation used the rollover provisions rather than a taxable transfer, so no tax fell due on the restructuring itself. $10,000 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
A founder setting up a holding structure in Brampton, Ontario was carrying $135,000 of penalties and interest. The charges arose from a spouse added as a shareholder on the assumption dividends could simply be split between two returns. A relief application cancelled that amount.
An assessment of $135,000 landed at a founder setting up a holding structure in Brampton, Ontario following a desk review. It turned on a spouse added as a shareholder on the assumption dividends could simply be split between two returns. The auditor had not seen the records behind it. We opened the register of individuals with significant control and put its review on the same annual cycle as the corporate annual return. We then set out the legislative basis for the position alongside the documents supporting it. $135,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
Meet the specialists behind your Corporation Dissolution filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
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Canada Tax, International Tax, Cross Border Tax, Transfer Pricing
International Tax, Transfer Pricing Specialist
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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.
Corporation Dissolution 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 corporation dissolution 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.
Let us give you the substance first and the caveats second. The tax on split income applies the top marginal rate to dividends paid to a family member who does not meet an excluded-amount test. Adding a spouse or an adult child as a shareholder does not split income by itself. The test has to be met for the year the dividend is paid. The caveat is simply that facts on your file can shift the outcome, so treat this as the baseline rather than the final word.
You are asking the right question, and it has a real answer. A federally incorporated corporation has to maintain a register of individuals with significant control, keep it current, and be able to produce it on request. It is a standing obligation rather than a document assembled the week someone asks for it. What we add on top of that is the paperwork discipline that makes the answer stand up if anyone ever asks you to prove it.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
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.
Canadian-source income is income whose origin is in Canada: employment carried out here, a business carried on here, rent from Canadian real property, gains on taxable Canadian property, and Canadian pension, dividend and interest payments. It matters most for non-residents, who are taxed only on Canadian-source amounts, often by withholding at the payer rather than by filing. Residents are taxed on worldwide income instead. A tax treaty can reduce the withholding rate for your country.
Most of your options are claims made on the return rather than expenses. Contribute to an RRSP to cut taxable income, use a TFSA for tax-free growth, and open an FHSA if you are saving for a first home. Claim tuition, eligible medical expenses, childcare, donations, and union or professional dues where they apply. Employment expenses are deductible only when your employer certifies them. You can also ask the CRA to reduce the tax withheld from your pay.
A zero-rated supply is a sale that is taxable at 0%, so you charge no GST/HST but you can still claim input tax credits on the costs of making it. Common examples include basic groceries, prescription drugs, most medical devices, agricultural and fishing products, and many exports and international freight services. That input tax credit recovery is the practical difference from an exempt supply, where no tax is charged and no credits are available.
The parent who paid the child care and had the child living with them claims it for that period. If you separated during the year, each parent claims what they paid while the child was in their care. Where parents live apart for the whole year and share the child, each claims their own payments, and the usual rule that the lower-income spouse must claim does not apply. Keep receipts showing the caregiver's name and social insurance number.
Add every source of income, subtract the deductions that reduce it to net income, then take off any further deductions to reach taxable income. Apply the federal brackets to that figure — for 2026 they begin at 14% and rise through 20.5%, 26% and 29% to 33% — and separately apply your province's brackets. The total is gross tax before credits. Non-refundable credits such as the basic personal amount then reduce it to the tax you actually owe.
The CRA charges compound daily interest on any balance still unpaid after the payment deadline, and it keeps accruing until the balance is cleared. Where the return itself was filed on time there is no separate late-payment penalty, only interest. For the 2025 personal tax year the payment deadline was 30 April 2026, including for self-employed filers who had until 15 June 2026 to file. Municipal property tax is a different system, with charges set by your municipality.
In Canada the question really asks about your structure, because a Canadian return has no classification box. You are an employee, a sole proprietor reporting business income on your personal return, a partner in a partnership, or a corporation that files its own return. Forms sent by foreign clients often demand this before they will pay you. Answer with the structure that legally exists, decided by how you registered, not by how you describe the work.
A ratepayer is someone who pays municipal rates, meaning property taxes and local utility charges, on property they own or occupy. The municipality sets a rate against assessed value, bills the ratepayer, and funds local services from what it collects; ratepayer associations speak for owners in an area. Property tax is municipal and quite separate from income tax, though on a rental or business property it is generally deductible against that income.
Sign in to My Business Account and use the option to add a business, then enter the business number. The CRA links it once it can confirm you are an owner, director or authorised officer of that business. If the business has no number yet, register one first through Business Registration Online. Someone acting for the business instead needs a Represent a Client authorisation, which the owner confirms from their own My Business Account.
Yes. An existing tax debt does not stop you registering a business number, incorporating, or opening a GST/HST or payroll account. What changes is collection. As a sole proprietor you and the business are the same taxpayer, so the CRA can apply business refunds against your personal balance. Directors can also be assessed personally for a corporation's unremitted payroll deductions and GST/HST. Put a payment arrangement in place for the old balance and keep the new remittances current.
Yes. Reporting self-employment income does not depend on holding a licence or registering a business. You file Form T2125 with your T1 under your own name and social insurance number, and CRA accepts it. A business number is needed only when you register for GST/HST, payroll or another CRA programme. Municipal licensing and provincial name registration are separate obligations that do not change your filing duty either way.
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 — Businesses · Income Tax Act (Justice Laws Website)
