Corporate Tax Returns (T2) - Surrey, BC
Corporate Tax Return Filing
in Surrey, BC
Your T2 corporate tax return, prepared accurately and filed on time - from $1,000, including the year-end financial statements CRA requires with every filing.
Filing Your Corporate Tax Return (T2) in Surrey
If you operate through a corporation, your corporate tax return - the T2 - must be filed within six months of your fiscal year-end, regardless of whether the corporation made money. Miss it, and late-filing penalties and interest start compounding on any balance owing immediately.
Sarv Accounting Services prepares T2 returns for small and medium-sized corporations across Surrey and the Lower Mainland - holding companies, operating businesses, professional corporations, and family enterprises - starting at $1,000. Every filing includes the year-end financial statements CRA expects to see alongside it.
What's Included in Your Corporate Return
- T2 return preparation and CRA e-filing
- Year-end financial statements - income statement, balance sheet, and statement of retained earnings
- Small Business Deduction (SBD) review - confirming your corporation qualifies for the reduced federal rate on active business income
- GST/HST reconciliation tied to your corporate books
- Schedule preparation - capital cost allowance, shareholder loans, and intercorporate dividends where they apply
- Salary vs. dividend review - so the return reflects the most tax-efficient structure available to you
Personal T1 vs. Corporate T2 - What's the Difference?
| Personal (T1) | Corporate (T2) | |
|---|---|---|
| Who files | Individuals, sole proprietors | Incorporated businesses |
| Deadline | April 30 (June 15 self-employed) | 6 months after fiscal year-end |
| Balance owing due | April 30 | 2-3 months after year-end (varies) |
| Requires financial statements | No | Yes, filed with every return |
| Starting price at Sarv | $65 | $1,000 |
Small Business Deduction & Corporate Tax Planning
Filing the T2 correctly is the baseline. The real savings come from how your corporation is structured going into it - confirming your Small Business Deduction eligibility on the first $500,000 of active business income, timing capital asset purchases against Capital Cost Allowance, and choosing the right mix of salary and dividends between the corporation and its owners. We review this every year, not just at filing time.
Year-End Financial Statements
CRA requires financial statements alongside every T2 filing, and lenders and investors rely on the same documents. We prepare balance sheets, income statements, and retained earnings statements formatted for both purposes - see our full financial statement preparation service if you need statements more often than year-end.
Frequently Asked Questions
When is my corporate tax return due?
Six months after your fiscal year-end. Any balance owing is typically due two or three months after year-end, depending on your corporation type - earlier than the return itself, so plan cash flow accordingly.
What happens if I file late?
A late-filing penalty of 5% of the unpaid tax applies immediately, plus 1% for each additional month late, up to 12 months - doubling for a second late filing within three years.
Do I need bookkeeping done before you can file my T2?
Yes - clean books are what the return and financial statements are built from. See our bookkeeping services if your records need to be brought current first.
Should I take salary or dividends from my corporation?
It depends on your personal tax bracket, CPP considerations, and RRSP room. We review this as part of every corporate engagement - see tax consulting for the full planning picture.
Get Your Corporate Return Filed Right
Book a free consultation and we'll review your year-end, confirm what's needed, and give you a clear quote before any work begins.