CORPORATE INCOME TAX CALGARY
The office of Daryl Pallesen CPA, CGA is a full service public accounting firm that provides a variety of tax services, including corporation income tax return preparation and filing. We currently provide these services to a significant number of small businesses that are involved in many different industries within the Calgary area, and we are ready to help meet your company’s corporate tax filing requirements too. According to Canada Revenue Agency, all resident corporations (except crown corporations and resident charities) have to file a corporate income tax (T2) return every tax year even if there is no tax payable. This includes but is not limited to the following:
- Non-profit organizations
- Tax-exempt corporations; and
- Inactive corporations
As your corporate tax accountant in Calgary, DARYL PALLESEN CPA, CGA will ensure that you file your return no later than six months after the end of each tax year. The tax year of a corporation is its fiscal period. When the corporation’s tax year ends on the last day of the month, returns should be filed by the last day of the sixth month after the end of the tax year. When the last day of the tax year is not the last day of the month, file the return by the same day of the sixth month after the end of the tax year. Please keep in mind that even though the filing date of the return is six month after the end of the tax year, if any amount of money is owed in the form of corporate income tax then tax payments must be made no later than three months (90 days) after the end of the tax year. For example, if your fiscal year end is December 31, 2015. The corporate return would have to be filed by June 30, 2016 but any taxes owed must be paid by March 31, 2016. Any payments that are received late will be subject to interest and penalties by the CRA.
Other corporate tax services in Calgary that DARYL PALLESEN CPA, CGA provides includes filing nil returns for dormant or inactive corporations, innovative tax planning to ensure that your corporation falls within the Small Business Deduction Limit and your losses are being properly carried forward or carried back so that you are paying the least amount of corporate income tax. We can also act as your professional representative with the Canada Revenue Agency (CRA). This helps ensure that you are treated fairly by the federal tax authorities, and also facilitates efficient and timely filing of various corporate information returns.
Our team of educated and experienced professionals will ensure you file a corporate income tax return that triggers the least amount of corporate tax payable. Please contact us via email at firstname.lastname@example.org or phone us at 403-988-2175 to book an appointment today.