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At Tax Filings Canada, we handle every part of your shareholder information reporting, 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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Tax Filings Canada provides low-cost, fixed-fee shareholder information reporting across Canada: the T2 return with full GIFI schedules and every provincial filing that applies, built for incorporated businesses and CCPCs, with payment only after your work is complete.
Start by sharing your documents; a quick checklist from us tells you exactly what we need.
Our team gets to work on your shareholder information reporting file, preparing every schedule that applies to you.
Before anything goes out, you see the full picture and sign off at your own pace.
With your approval in hand, we handle the filing and let you know the moment it is done.
| 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 |
The 9% federal small business rate covers the first $500,000 of active business income, with each province layering its own rate on top. Because the fee is fixed and low-cost, the economics stay predictable whether your file is simple or messy.
These notes are written the way a tax preparation specialist would explain Shareholder Information Reporting across a desk: no theory, just the points that decide real files.
Before anything else, one rule sets the frame. 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.
From there, the file turns on a second question, and the rule behind it reads as follows. 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. And on timing: The late-filing penalty is 5% of the balance owing plus 1% for each full month late, to a maximum of twelve months. A second late filing within three years doubles both figures. The penalty is calculated on the balance owing, so a late return with nothing owing costs nothing — which is why filing on time matters even when you cannot pay.
None of this requires you to become an expert — that is what engaging a tax expert is for. What it does require is recognizing that shareholder information reporting will reward preparation over improvisation. Gathering the following ahead of time turns the first shareholder information reporting conversation from fact-finding into decision-making.
Every file we prepare is reviewed with you before anything is filed, the fee is fixed and agreed up front, and you pay only after the service is delivered. If shareholder information reporting is on your list, the conversation costs nothing to start.
Providing transparent fixed pricing and high-quality Accounting Firm compliance for your shareholder information reporting requirements.
Coverage: Standard bookkeeping and shareholder information reporting 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 shareholder information reporting needs?
Providing tailored shareholder information reporting services to ensure compliance and maximize deductions.
Our certified accountants protect your business with complete federal and provincial tax compliance.
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.
Risk-Free, Hassle-Free, and Client-First!
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See how our expert Shareholder Information Reporting tax and accounting services have helped Canadian businesses save money and stay compliant.
Remittances at a technology CCPC approaching its first profitable year in Mississauga, Ontario were chronically late because of passive investment income that had crossed the $50,000 grind threshold unnoticed. Fixing the schedule refunded $22,500.
A family transfer at a second-generation family manufacturer in Moncton, New Brunswick would have been fully taxable because of a single shareholder holding every share, with no room to multiply the exemption. Restructuring deferred $720,000.
Closing the books at a corporation with a non-calendar fiscal year-end in London, Ontario took 12 weeks because of a loss year carried forward by default when carrying it back would have produced a refund cheque. It now takes 4 days.
4 years of filings at an import and distribution corporation in Edmonton, Alberta had never claimed the incentives the work qualified for. The review recovered $84,000.
An incorporated consultancy in Barrie, Ontario was 5 weeks from a deadline while carrying a balance-due date the owner believed was the same as the filing date. Filing complete and on time avoided roughly $127,000 in penalties.
A holding company and its operating subsidiary in Burnaby, British Columbia faced a $98,000 proposed reassessment after a small business limit quietly shared across three associated corporations nobody had mapped. We rebuilt the documentation and the adjustment was withdrawn in full.
Meet the specialists behind your Shareholder Information Reporting filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
CA (ICAI), CA (MIA), CPA Canada (In-Depth Tax Program)
Canada Tax, International Tax, Cross Border Tax, Transfer Pricing
International Tax, Transfer Pricing Specialist
CA (ICAI), Canada Tax Expert
CA. Fractional CFO and Senior Advisory Specialist
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.
Shareholder Information Reporting 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 shareholder information reporting 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.
We get this one a lot, and the answer is more concrete than people expect. A dividend between connected corporations is generally deductible in computing taxable income, but subsection 55(2) can recharacterise it as a capital gain where it exceeds safe income and no permitted purpose applies. The safe-income analysis belongs before the dividend is paid, not after. Bring your documents and we will show you where it lands in your numbers.
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. That is the part most owners have not heard before they sit down with us, and it usually changes what they do next.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
Most people pay through online or telephone banking, adding the CRA as a payee and choosing the exact account and year, such as a personal balance owing or an instalment. The alternatives are CRA My Payment with a debit card, pre-authorised debit scheduled in My Account, a credit card or e-transfer through a third-party provider that charges its own fee, or paying at your bank with a remittance voucher. For the 2025 tax year the balance was due 30 April 2026.
Most tax saving comes from a short list of levers: contributing to an RRSP or a spousal RRSP, holding investments inside a TFSA, FHSA or RESP so growth is sheltered, claiming every deduction and credit you actually qualify for, and splitting income where the rules allow, such as pension income splitting. Business owners add expense timing and salary versus dividend planning. Order matters, so decide before year end rather than at filing time.
Taxable income is what is left after you total the income the tax rules include and subtract the deductions you are allowed. Employment and self-employment earnings, most pensions, EI and CPP benefits, interest, dividends, rental profit, the taxable portion of capital gains, RRSP and RRIF withdrawals and most taxable benefits from work all go into the total. Tax is then calculated on that figure and reduced by non-refundable credits such as the basic personal amount.
The CRA no longer runs walk-in counters for general tax help, so there is no office you can visit to file or ask questions. Contact is by phone, by mail, or through My Account and My Business Account; in-person help is limited to arranged appointments in specific programs. Mailing addresses differ by centre and by what you are sending, so use the address printed on your CRA letter or on the CRA's website.
Corporate tax is income tax a corporation pays on its own profits, reported on a T2 return that is separate from the owner's personal return. Both federal and provincial tax apply. For 2026 the federal small business rate is 9% on the first $500,000 of active business income and the federal general net rate is 15%, with the province adding its own rate on top. An unincorporated business pays no corporate tax; its profit is taxed in the owner's hands.
Start by claiming everything you are entitled to: RRSP contributions, child care, moving and employment expenses, self-employment costs, tuition, medical expenses, donations and the credits that follow your family situation. Timing helps too, such as deferring a bonus or triggering a capital loss against a gain. Pension income splitting and spousal RRSP contributions move income to a lower-rate spouse. For a business, incorporating and planning how money is drawn out matters. Leaving income unreported is evasion, not planning.
An incorporated small business generally pays the federal small business rate of 9% on its first $500,000 of active business income for 2026 instead of the 15% general rate, plus a reduced provincial rate, in Ontario 3.2% and falling to 2.2% from 1 July 2026. Unincorporated businesses deduct reasonable expenses on a T2125 instead. Both can claim capital cost allowance, home-office and vehicle costs, and targeted incentives exist for research and hiring.
The CRA does not hand back a completed copy of your corporate return to download. Sign in to My Business Account to see assessed figures, notices of assessment, balances and account history for the corporation, which is usually what a lender or buyer wants. The return itself comes from whoever filed it: your tax software file or your preparer's records. The CRA will also release account information in writing when proper authorisation is on file.
The T1 General is the Canadian personal income tax and benefit return. It reports your income, deductions and credits for the calendar year and works out the tax owing or the refund, with provincial forms and schedules attached to it. Download the package for your province of residence from canada.ca, or let certified software build it for you. Filed copies and assessment summaries for past years stay available in CRA My Account. The 2025 return was due 30 April 2026.
Six broad families. Income tax on individuals and corporations. Payroll contributions, meaning CPP and EI. Consumption taxes, meaning GST, HST and provincial sales taxes. Excise duties on fuel, alcohol, tobacco and vaping products. Property and land transfer taxes charged by municipalities and provinces. And tax on gains, including the gains treated as realised on death. Customs duties on imports sit alongside them. Most households only ever deal with the first three.
Yes. A payout of unused vacation or accumulated leave is employment income in the year you receive it, so your employer reports it on a T4 and withholds income tax, CPP and EI on it like regular pay. There is no separate lower rate for it, though the withholding on a lump sum may differ from your usual pay period. Deducting an RRSP contribution in the same year can offset the bump.
Instalments are prepayments toward the current year's tax, not next year's. The CRA asks for them when too little tax is withheld at source and your net tax owing passes a set amount in the current year and in one of the two previous years, which is common for self-employed people, landlords, investors and pensioners. Reminders arrive with suggested amounts, or you can pay on your own estimate. Underpaying attracts instalment interest, so follow the reminder if unsure.
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.
