Tax prep support
T2 corporate tax preparation support
Preparation support for T2 corporate income tax returns for Canadian-controlled private corporations and other companies. We build the return from books we already reconcile and track the small business tax rate; a Canada-resident EFILE registrant reviews, signs off and files it with the CRA.
Tax working papers
Illustrative client · August 2026
CAD
- Year-end books closed and reconciledDone
- Fixed asset and depreciation scheduleDone
- Book-to-tax adjustments listedDone
- Supporting schedules for the preparerIn progress
- Handed to the signer for review and filingNext
Illustrative. An example of the document, not a client's figures.
What this covers
Workpapers and a draft T2 corporate income tax return, built from the same books our team reconciles monthly. That includes reconciling the corporation's active business income against the small business deduction limit, tracking associated-company rules where they apply, and preparing schedules for capital cost allowance, shareholder loans and intercompany balances.
Deadlines we track
A T2 return must be filed within 6 months of the corporation's tax year-end. The balance of tax owing is due sooner: generally 2 months after year-end, or 3 months after year-end for an eligible Canadian-controlled private corporation (CCPC) claiming the small business deduction. We build the filing calendar around both dates, not just the later one.
The small business rate, applied correctly
A CCPC claiming the small business deduction pays a net federal tax rate of 9% on active business income up to the C$500,000 business limit, with the general federal rate of 15% applying above that threshold. We track which portion of your income sits inside the small business limit before the return goes to your adviser.
Who files it
EFILE only accepts transmissions from a Canadian-resident registrant holding a valid SIN. We prepare the return and every supporting schedule; your appointed Canada-resident adviser or EFILE registrant reviews it, signs off and transmits it to the CRA.
Built from books we already close
Because the same team closes your books each month, the T2 workpapers start from a trial balance that already reconciles, including intercompany balances and capital asset schedules, instead of a preparer reconstructing a year of transactions at deadline time.
Questions
Frequently asked questions: T2 corporate tax preparation support
How soon after year-end is my T2 actually due?
The return itself is due 6 months after year-end, but the balance of tax owing is generally due 2 months after year-end (3 months for an eligible CCPC claiming the small business deduction), so we build to the earlier payment date.
Does the 9% small business rate apply to all of my income?
It applies to active business income up to the C$500,000 business limit for a CCPC claiming the small business deduction. Income above that limit is taxed at the general federal rate of 15%.
Who signs and transmits my T2?
A Canadian-resident registrant holding a valid SIN, since that is who CRA's EFILE program accepts transmissions from. We prepare the return; your appointed adviser reviews, signs off and files it.
What if my corporation has more than one associated company?
We track associated-company rules and how they affect the shared small business limit as part of building your T2 workpapers, and flag anything that needs your adviser's judgement before filing.
What exactly is included in t2 corporate tax preparation support?
Trial balance tie-out and book-to-tax adjustments, and capital cost allowance schedule. This work runs inside QuickBooks Online or Xero, whichever your business already has in place, and it rolls into your regular monthly close rather than sitting off to the side as a separate, unreconciled process.
Do you handle small business deduction eligibility?
We flag associated-corporation and active-business-income questions during preparation so the right rate applies.
Who files the return?
A Canada-resident, EFILE-registered filer transmits the return after reviewing what we prepare.
How do we get started with t2 corporate tax preparation support?
Getting started with t2 corporate tax preparation support begins with a short review of your current records and software access. Once that is done we confirm scope and timing in writing, and ongoing work begins on the schedule agreed with you.
What if our records for t2 corporate tax preparation support are not up to date?
If your records are behind, we scope a catch-up first so t2 corporate tax preparation support starts from a clean, reconciled base. That catch-up is priced and timed separately from the ongoing engagement, so you always know what each part costs.
Related services
- Tax prep supportT1 personal tax preparation supportPreparation support for personal income tax returns, including self-employed and rental income, prepared for review and EFILE transmission by a registered filer.
- BookkeepingMonthly bookkeepingOngoing monthly bookkeeping: transactions sorted into categories, accounts reconciled and month-end reports delivered in the software you already use.
Industries
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.