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T2 Corporate Income Tax Return

Filing your T2 Corporate Income Tax Return is a vital part of running a business in Canada. This comprehensive tax form is required for all incorporated businesses, and ensuring it is filed correctly and on time is crucial to staying compliant with the Canada Revenue Agency (CRA).

At BBA Tax, we specialize in providing professional and reliable T2 Corporate Income Tax Return services for businesses in Ottawa and across Canada. Whether you’re a small business, a startup, or a large corporation, our team of experienced accountants will handle the complexities of your corporate taxes with precision and efficiency.

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What Is a T2 Corporate Income Tax Return?

The T2 Corporate Income Tax Return is a mandatory filing for every corporation in Canada, regardless of size or revenue. This detailed tax form includes:

Income Reporting

Gross revenue from all sources.

Expense Deductions

Claimable business expenses to reduce taxable income.

Tax Credits

Eligibility for federal and provincial credits like the Small Business Deduction or the Scientific Research and Experimental Development (SR&ED) Tax Credit.

Financial Statements

Summaries of income, expenses, and other financial activities.

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Why Choose BBA Tax for Your T2 Filing?

Filing a T2 Corporate Income Tax Return is complex, and even small errors can lead to penalties or CRA audits. When you choose BBA Tax, you get:

Expertise in Corporate Taxation

We understand the latest CRA regulations and requirements for businesses in Canada.

Accurate Financial Reporting

From calculating deductions to preparing financial statements, we ensure every detail is correct.

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Maximized Tax Savings

Our accountants work to identify every possible deduction and tax credit to minimize your liability.

CRA Compliance

Avoid penalties and audits with accurate, timely filing.

Personalized Service

Tailored advice and support for your unique business needs.

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Our T2 Corporate Tax Filing Process

1. Initial Consultation: We review your business structure, financial records, and specific needs.

2. Document Collection: Gather all necessary documentation, including income statements, expense records, and prior tax filings.

3. Tax Calculation: Determine your taxable income, deductions, and applicable credits.

4. Form Preparation: Complete all required sections of the T2 return and associated schedules.

5. CRA Submission: File your corporate tax return electronically for fast and secure processing.

6. Ongoing Support: Provide guidance for tax planning, compliance, and responding to CRA inquiries.

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Why Timely Filing Matters

The CRA requires corporations to file their T2 returns within six months of the end of the fiscal year. Late filings can result in:

  • Penalties: A minimum of 5% of the balance owed, plus 1% for each month late.
  • Interest Charges: Daily compounded interest on unpaid balances.
  • Increased Risk of Audits: Timely filing shows compliance and reduces red flags for the CRA.

Don’t risk these consequences—let BBA Tax ensure your corporate taxes are filed on time.

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Success Stories

"Karim helped file my complex Canadian taxes, including foreign income. I really appreciated his professionalism, due diligence, and responsiveness. He took his time to explain the process and was always available to answer my questions"

Rony A

"I appreciate the level of service I got from BBA Tax. They exceeded all my expectations, all while maintaining a level of professionalism that was exceptional. I would highly recommend them for all your accounting needs."

Hakan Y.

"I confirm everything others are writing. Karim is very knowledgeable, approachable, responsive and he takes his time to explain everything. In my case, I might need a little more hand-holding than most and Karim is very helpful. I highly recommend him and his business!"

Feras S.